Philippe Puissant: what changed
Two financial 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 Puissant
Largest movements
- Receivables within one year -€14,703
down €14,703 (-75.6%), from €19,446 to €4,743
of which Other amounts receivable: -€14,703
- Cash +€7,649
up €7,649 (+261%), from €2,931 to €10,579
mainly Receivables within one year (+€14,703) and Other debts (+€6,852)
- Deferred charges and accrued income -€2,788
down €2,788 (-44.9%), from €6,212 to €3,424
- Tangible fixed assets -€845
down €845 (-58.6%), from €1,442 to €597
of which Furniture and vehicles: -€450
- Reserves -€12,475
down €12,475 (-100%), from €12,475 to €0
- Profit (loss) carried forward -€9,998
new in 2025: -€9,998
- Other debts +€6,852
up €6,852 (+60.1%), from €11,395 to €18,247
- Trade debts +€4,689
up €4,689 (+3,091%), from €152 to €4,841
- Other operating charges +€14,773
up €14,773 (+3,810%), from €388 to €15,160
- Gross operating margin +€5,074
up €5,074 (+51.1%), from -€9,933 to -€4,859
- Depreciation -€1,150
down €1,150 (-57.6%), from €1,995 to €845
- Financial charges +€442
up €442 (+47.9%), from €923 to €1,365
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.
Derived cash bridge
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 | €30,031 | €19,343 | -€10,688 | -35.6% |
| Fixed assets | 21/28 | €1,442 | €597 | -€845 | -58.6% |
| Tangible fixed assets | 22/27 | €1,442 | €597 | -€845 | -58.6% |
| Plant, machinery and equipment | 23 | €395 | €0 | -€395 | -100% |
| Furniture and vehicles | 24 | €1,047 | €597 | -€450 | -43.0% |
| Current assets | 29/58 | €28,589 | €18,746 | -€9,843 | -34.4% |
| Amounts receivable within one year | 40/41 | €19,446 | €4,743 | -€14,703 | -75.6% |
| Trade receivables | 40 | €4,743 | €4,743 | = | 0.0% |
| Other amounts receivable | 41 | €14,703 | €0 | -€14,703 | -100% |
| Cash at bank and in hand | 54/58 | €2,931 | €10,579 | +€7,649 | +261% |
| Deferred charges and accrued income | 490/1 | €6,212 | €3,424 | -€2,788 | -44.9% |
| Total equity and liabilities | 10/49 | €30,031 | €19,343 | -€10,688 | -35.6% |
| Equity | 10/15 | €17,475 | -€4,998 | -€22,473 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €12,475 | €0 | -€12,475 | -100% |
| Distributable reserves | 133 | €12,475 | €0 | -€12,475 | -100% |
| Profit (loss) carried forward | 14 | - | -€9,998 | -€9,998 | |
| Amounts payable | 17/49 | €12,556 | €24,341 | +€11,785 | +93.9% |
| Amounts payable within one year | 42/48 | €12,556 | €24,341 | +€11,785 | +93.9% |
| Trade debts | 44 | €152 | €4,841 | +€4,689 | +3,091% |
| Suppliers | 440/4 | €152 | €4,841 | +€4,689 | +3,091% |
| Taxes, remuneration and social security | 45 | €1,010 | €1,254 | +€244 | +24.1% |
| Taxes | 450/3 | €1,010 | €1,254 | +€244 | +24.1% |
| Other amounts payable | 47/48 | €11,395 | €18,247 | +€6,852 | +60.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,995 | €845 | -€1,150 | -57.6% |
| Other operating charges | 640/8 | €388 | €15,160 | +€14,773 | +3,810% |
| Gross operating margin | 9900 | -€9,933 | -€4,859 | +€5,074 | +51.1% |
| Operating profit (loss) | 9901 | -€12,316 | -€20,865 | -€8,549 | -69.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €923 | €1,365 | +€442 | +47.9% |
| Recurring financial charges | 65 | €923 | €1,365 | +€442 | +47.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,239 | -€22,230 | -€8,991 | -67.9% |
| Income taxes | 67/77 | €220 | €244 | +€23 | +10.5% |
| Profit (loss) for the period | 9904 | -€13,459 | -€22,473 | -€9,014 | -67.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,459 | -€22,473 | -€9,014 | -67.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.