PHILIPPE RENS: 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 RENS
Largest movements
- Current investments +€1.5m
up €1.5m (+61.5%), from €2.4m to €3.9m
- Cash -€1.2m
down €1.2m (-85.7%), from €1.4m to €196,034
mainly Current investments (-€1.5m) and Receivables within one year (-€635,568)
- Receivables within one year +€635,568
up €635,568 (+74.5%), from €853,524 to €1.5m
of which Trade receivables: +€626,451
- Reserves +€1.0m
up €1.0m (+22.1%), from €4.7m to €5.7m
of which Distributable reserves: +€1.0m
- Tax, wage and social debts -€106,638
down €106,638 (-46.9%), from €227,596 to €120,958
- Gross operating margin +€306,261
up €306,261 (+21.3%), from €1.4m to €1.7m
- Financial income -€100,318
down €100,318 (-62.7%), from €160,020 to €59,701
- Taxes +€69,452
up €69,452 (+14.4%), from €482,181 to €551,634
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,930,467 | €5,863,539 | +€933,072 | +18.9% |
| Fixed assets | 21/28 | €289,784 | €277,687 | -€12,097 | -4.2% |
| Tangible fixed assets | 22/27 | €89,784 | €77,687 | -€12,097 | -13.5% |
| Land and buildings | 22 | €88,629 | €77,687 | -€10,942 | -12.3% |
| Furniture and vehicles | 24 | €1,155 | €0 | -€1,155 | -100% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €4,640,682 | €5,585,852 | +€945,170 | +20.4% |
| Amounts receivable within one year | 40/41 | €853,524 | €1,489,092 | +€635,568 | +74.5% |
| Trade receivables | 40 | €805,238 | €1,431,690 | +€626,451 | +77.8% |
| Other amounts receivable | 41 | €48,286 | €57,403 | +€9,117 | +18.9% |
| Current investments | 50/53 | €2,416,055 | €3,900,726 | +€1.5m | +61.5% |
| Cash at bank and in hand | 54/58 | €1,370,545 | €196,034 | -€1.2m | -85.7% |
| Deferred charges and accrued income | 490/1 | €558 | €0 | -€558 | -100% |
| Total equity and liabilities | 10/49 | €4,930,467 | €5,863,539 | +€933,072 | +18.9% |
| Equity | 10/15 | €4,702,830 | €5,740,574 | +€1.0m | +22.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €4,689,759 | €5,727,503 | +€1.0m | +22.1% |
| Non-distributable reserves | 130/1 | €32,649 | €32,649 | = | 0.0% |
| Reserves not available under the articles | 1311 | €32,649 | €32,649 | = | 0.0% |
| Distributable reserves | 133 | €4,657,111 | €5,694,855 | +€1.0m | +22.3% |
| Profit (loss) carried forward | 14 | €670 | €670 | = | 0.0% |
| Amounts payable | 17/49 | €227,637 | €122,966 | -€104,672 | -46.0% |
| Amounts payable within one year | 42/48 | €227,596 | €122,966 | -€104,631 | -46.0% |
| Trade debts | 44 | - | €2,007 | +€2,007 | |
| Suppliers | 440/4 | - | €2,007 | +€2,007 | |
| Taxes, remuneration and social security | 45 | €227,596 | €120,958 | -€106,638 | -46.9% |
| Taxes | 450/3 | €227,596 | €120,958 | -€106,638 | -46.9% |
| Accrued charges and deferred income | 492/3 | €41 | €0 | -€41 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,986 | €12,097 | -€10,889 | -47.4% |
| Other operating charges | 640/8 | €2,450 | €1,837 | -€614 | -25.0% |
| Gross operating margin | 9900 | €1,440,088 | €1,746,350 | +€306,261 | +21.3% |
| Operating profit (loss) | 9901 | €1,414,652 | €1,732,416 | +€317,764 | +22.5% |
| Financial income | 75/76B | €160,020 | €59,701 | -€100,318 | -62.7% |
| Recurring financial income | 75 | €160,020 | €59,701 | -€100,318 | -62.7% |
| Financial charges | 65/66B | €1,942 | €2,740 | +€798 | +41.1% |
| Recurring financial charges | 65 | €1,942 | €2,740 | +€798 | +41.1% |
| Profit (loss) for the period before taxes | 9903 | €1,572,729 | €1,789,377 | +€216,648 | +13.8% |
| Income taxes | 67/77 | €482,181 | €551,634 | +€69,452 | +14.4% |
| Profit (loss) for the period | 9904 | €1,090,548 | €1,237,744 | +€147,196 | +13.5% |
| Transfer from tax-exempt reserves | 789 | €124,000 | €0 | -€124,000 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €1,214,548 | €1,237,744 | +€23,196 | +1.9% |
Source: filed annual accounts (NBB), financial years ended 30 April 2022 and 30 April 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.