PHILIPPE NIMAL: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
PHILIPPE NIMAL
Largest movements
- Tangible fixed assets -€2,312
down €2,312 (-54.3%), from €4,254 to €1,942
of which Furniture and vehicles: -€2,204
- Current investments +€2,036
up €2,036 (+2.0%), from €103,163 to €105,199
- Profit (loss) carried forward -€20,336
down €20,336, from €937 to -€19,398
- Other debts +€19,437
up €19,437 (+26.0%), from €74,706 to €94,143
- Trade debts +€1,812
up €1,812 (+8.7%), from €20,747 to €22,559
- Gross operating margin -€5,631
down €5,631 (-28.3%), from -€19,895 to -€25,527
- Financial income -€2,935
down €2,935 (-26.5%), from €11,071 to €8,136
- Depreciation -€283
down €283 (-10.9%), from €2,595 to €2,312
- Financial charges -€260
down €260 (-52.8%), from €493 to €233
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €110,766 | €111,679 | +€913 | +0.8% |
| Fixed assets | 21/28 | €4,254 | €1,942 | -€2,312 | -54.3% |
| Tangible fixed assets | 22/27 | €4,254 | €1,942 | -€2,312 | -54.3% |
| Plant, machinery and equipment | 23 | €431 | €323 | -€108 | -25.0% |
| Furniture and vehicles | 24 | €3,823 | €1,619 | -€2,204 | -57.7% |
| Current assets | 29/58 | €106,512 | €109,737 | +€3,225 | +3.0% |
| Amounts receivable within one year | 40/41 | €1,398 | €2,329 | +€931 | +66.6% |
| Trade receivables | 40 | €447 | €71 | -€376 | -84.1% |
| Other amounts receivable | 41 | €951 | €2,258 | +€1,307 | +137.5% |
| Current investments | 50/53 | €103,163 | €105,199 | +€2,036 | +2.0% |
| Cash at bank and in hand | 54/58 | €1,951 | €2,209 | +€258 | +13.2% |
| Total equity and liabilities | 10/49 | €110,766 | €111,679 | +€913 | +0.8% |
| Equity | 10/15 | €15,197 | -€5,138 | -€20,336 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €12,400 | - | -€12,400 | |
| Share premium | 1100/10 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €937 | -€19,398 | -€20,336 | |
| Amounts payable | 17/49 | €95,569 | €116,817 | +€21,249 | +22.2% |
| Amounts payable within one year | 42/48 | €95,569 | €116,817 | +€21,249 | +22.2% |
| Trade debts | 44 | €20,747 | €22,559 | +€1,812 | +8.7% |
| Suppliers | 440/4 | €20,747 | €22,559 | +€1,812 | +8.7% |
| Taxes, remuneration and social security | 45 | €116 | €116 | = | 0.0% |
| Taxes | 450/3 | €116 | €116 | = | 0.0% |
| Other amounts payable | 47/48 | €74,706 | €94,143 | +€19,437 | +26.0% |
| Remuneration, social security and pensions | 62 | -€105 | - | +€105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,595 | €2,312 | -€283 | -10.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€19,895 | -€25,527 | -€5,631 | -28.3% |
| Operating profit (loss) | 9901 | -€22,773 | -€28,238 | -€5,466 | -24.0% |
| Financial income | 75/76B | €11,071 | €8,136 | -€2,935 | -26.5% |
| Recurring financial income | 75 | €11,071 | €8,136 | -€2,935 | -26.5% |
| Financial charges | 65/66B | €493 | €233 | -€260 | -52.8% |
| Recurring financial charges | 65 | €493 | €233 | -€260 | -52.8% |
| Profit (loss) for the period before taxes | 9903 | -€12,195 | -€20,336 | -€8,140 | -66.8% |
| Profit (loss) for the period | 9904 | -€12,195 | -€20,336 | -€8,140 | -66.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,195 | -€20,336 | -€8,140 | -66.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.