Philippe Sollie: 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 Sollie
Largest movements
- Cash -€112,277
down €112,277 (-9.1%), from €1.2m to €1.1m
mainly Contributions, distributions and other (-€250,000) and Receivables within one year (-€41,854)
- Tangible fixed assets -€108,482
down €108,482 (-14.1%), from €767,002 to €658,520
- Receivables within one year +€41,854
up €41,854 (+15.8%), from €265,186 to €307,040
of which Trade receivables: +€26,880
- Stocks and contracts +€38,531
up €38,531 (+7.0%), from €553,052 to €591,583
- Reserves -€133,500
down €133,500 (-5.9%), from €2.3m to €2.1m
of which Distributable reserves: -€133,500
- Debts after one year -€40,508
down €40,508 (-22.2%), from €182,701 to €142,193
- Trade debts +€34,230
up €34,230 (+19.7%), from €173,602 to €207,832
- Staff costs +€85,536
up €85,536 (+12.9%), from €661,311 to €746,847
- Depreciation -€36,618
down €36,618 (-19.6%), from €186,382 to €149,763
- Provisions +€29,600
up €29,600, from -€29,600 to €0
- Gross operating margin +€26,390
up €26,390 (+2.5%), from €1.0m to €1.1m
- Taxes -€18,315
down €18,315 (-30.8%), from €59,421 to €41,106
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 | €2,832,409 | €2,694,890 | -€137,519 | -4.9% |
| Fixed assets | 21/28 | €767,002 | €658,520 | -€108,482 | -14.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €767,002 | €658,520 | -€108,482 | -14.1% |
| Land and buildings | 22 | €269,750 | €218,327 | -€51,423 | -19.1% |
| Plant, machinery and equipment | 23 | €52,396 | €70,649 | +€18,253 | +34.8% |
| Furniture and vehicles | 24 | €94,504 | €71,504 | -€23,000 | -24.3% |
| Other tangible fixed assets | 26 | €350,352 | €298,040 | -€52,312 | -14.9% |
| Current assets | 29/58 | €2,065,407 | €2,036,370 | -€29,037 | -1.4% |
| Stocks and contracts in progress | 3 | €553,052 | €591,583 | +€38,531 | +7.0% |
| Stocks | 30/36 | €553,052 | €591,583 | +€38,531 | +7.0% |
| Amounts receivable within one year | 40/41 | €265,186 | €307,040 | +€41,854 | +15.8% |
| Trade receivables | 40 | €229,827 | €256,708 | +€26,880 | +11.7% |
| Other amounts receivable | 41 | €35,359 | €50,333 | +€14,974 | +42.3% |
| Current investments | 50/53 | €6,445 | €6,445 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,228,185 | €1,115,908 | -€112,277 | -9.1% |
| Deferred charges and accrued income | 490/1 | €12,538 | €15,394 | +€2,855 | +22.8% |
| Total equity and liabilities | 10/49 | €2,832,409 | €2,694,890 | -€137,519 | -4.9% |
| Equity | 10/15 | €2,332,075 | €2,198,267 | -€133,808 | -5.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,269,500 | €2,136,000 | -€133,500 | -5.9% |
| Non-distributable reserves | 130/1 | €31,000 | €31,000 | = | 0.0% |
| Legal reserve | 130 | €31,000 | €31,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €2,238,500 | €2,105,000 | -€133,500 | -6.0% |
| Profit (loss) carried forward | 14 | €575 | €267 | -€308 | -53.6% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €500,334 | €496,623 | -€3,711 | -0.7% |
| Amounts payable after more than one year | 17 | €182,701 | €142,193 | -€40,508 | -22.2% |
| Financial debts | 170/4 | €182,701 | €142,193 | -€40,508 | -22.2% |
| Amounts payable within one year | 42/48 | €315,840 | €352,785 | +€36,946 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €40,017 | €40,508 | +€491 | +1.2% |
| Trade debts | 44 | €173,602 | €207,832 | +€34,230 | +19.7% |
| Suppliers | 440/4 | €173,602 | €207,832 | +€34,230 | +19.7% |
| Taxes, remuneration and social security | 45 | €100,279 | €91,107 | -€9,172 | -9.1% |
| Taxes | 450/3 | €27,128 | €8,332 | -€18,797 | -69.3% |
| Remuneration and social security | 454/9 | €73,151 | €82,775 | +€9,625 | +13.2% |
| Other amounts payable | 47/48 | €1,942 | €13,339 | +€11,397 | +587% |
| Accrued charges and deferred income | 492/3 | €1,793 | €1,645 | -€148 | -8.3% |
| Remuneration, social security and pensions | 62 | €661,311 | €746,847 | +€85,536 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,382 | €149,763 | -€36,618 | -19.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€29,600 | €0 | +€29,600 | |
| Other operating charges | 640/8 | €11,536 | €11,630 | +€94 | +0.8% |
| Gross operating margin | 9900 | €1,038,294 | €1,064,683 | +€26,390 | +2.5% |
| Operating profit (loss) | 9901 | €208,665 | €156,443 | -€52,222 | -25.0% |
| Financial income | 75/76B | €13,504 | €4,855 | -€8,649 | -64.0% |
| Recurring financial income | 75 | €13,504 | €4,855 | -€8,649 | -64.0% |
| Financial charges | 65/66B | €6,935 | €4,001 | -€2,934 | -42.3% |
| Recurring financial charges | 65 | €6,935 | €4,001 | -€2,934 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €215,233 | €157,297 | -€57,936 | -26.9% |
| Transfer from deferred taxes | 780 | €4,093 | €0 | -€4,093 | -100% |
| Income taxes | 67/77 | €59,421 | €41,106 | -€18,315 | -30.8% |
| Profit (loss) for the period | 9904 | €159,905 | €116,192 | -€43,713 | -27.3% |
| Transfer from tax-exempt reserves | 789 | €12,278 | €0 | -€12,278 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €172,183 | €116,192 | -€55,991 | -32.5% |
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 18 October 2026 via checked.be.