PHILIPPE THUMILAIRE: 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 THUMILAIRE
Largest movements
- Cash -€131,531
down €131,531 (-25.0%), from €525,934 to €394,402
mainly Contributions, distributions and other (-€190,600) and Other debts (-€109,351)
- Tangible fixed assets -€41,896
down €41,896 (-6.6%), from €630,961 to €589,065
of which Land and buildings: -€21,749
- Stocks and contracts +€12,295
up €12,295 (+121%), from €10,175 to €22,470
- Other debts -€109,351
down €109,351 (-24.9%), from €439,551 to €330,200
- Debts after one year -€54,754
down €54,754 (-13.4%), from €408,068 to €353,313
- Trade debts +€13,079
up €13,079 (+55.3%), from €23,642 to €36,721
- Gross operating margin -€90,724
down €90,724 (-16.8%), from €539,217 to €448,492
- Taxes -€31,229
down €31,229 (-32.6%), from €95,739 to €64,510
- Depreciation +€21,311
up €21,311 (+32.8%), from €64,876 to €86,188
- Financial charges +€10,355
up €10,355 (+187%), from €5,539 to €15,894
- Staff costs +€5,703
up €5,703 (+7.0%), from €81,603 to €87,306
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 | €1,208,811 | €1,052,120 | -€156,690 | -13.0% |
| Fixed assets | 21/28 | €630,961 | €589,065 | -€41,896 | -6.6% |
| Tangible fixed assets | 22/27 | €630,961 | €589,065 | -€41,896 | -6.6% |
| Land and buildings | 22 | €383,193 | €361,444 | -€21,749 | -5.7% |
| Plant, machinery and equipment | 23 | €239,351 | €219,210 | -€20,141 | -8.4% |
| Furniture and vehicles | 24 | €6,418 | €6,412 | -€6 | -0.1% |
| Other tangible fixed assets | 26 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €577,849 | €463,055 | -€114,794 | -19.9% |
| Stocks and contracts in progress | 3 | €10,175 | €22,470 | +€12,295 | +121% |
| Stocks | 30/36 | €10,175 | €22,470 | +€12,295 | +121% |
| Amounts receivable within one year | 40/41 | €41,424 | €40,111 | -€1,313 | -3.2% |
| Trade receivables | 40 | €20,408 | €18,415 | -€1,993 | -9.8% |
| Other amounts receivable | 41 | €21,016 | €21,696 | +€680 | +3.2% |
| Cash at bank and in hand | 54/58 | €525,934 | €394,402 | -€131,531 | -25.0% |
| Deferred charges and accrued income | 490/1 | €317 | €6,072 | +€5,755 | +1,814% |
| Total equity and liabilities | 10/49 | €1,208,811 | €1,052,120 | -€156,690 | -13.0% |
| Equity | 10/15 | €79,179 | €79,274 | +€95 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,474 | €6,474 | = | 0.0% |
| Distributable reserves | 133 | €6,474 | €6,474 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,105 | €54,200 | +€95 | +0.2% |
| Amounts payable | 17/49 | €1,129,632 | €972,847 | -€156,785 | -13.9% |
| Amounts payable after more than one year | 17 | €408,068 | €353,313 | -€54,754 | -13.4% |
| Financial debts | 170/4 | €408,068 | €353,313 | -€54,754 | -13.4% |
| Amounts payable within one year | 42/48 | €524,186 | €422,599 | -€101,587 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €39,336 | €40,675 | +€1,340 | +3.4% |
| Trade debts | 44 | €23,642 | €36,721 | +€13,079 | +55.3% |
| Suppliers | 440/4 | €23,642 | €36,721 | +€13,079 | +55.3% |
| Taxes, remuneration and social security | 45 | €21,657 | €15,002 | -€6,655 | -30.7% |
| Taxes | 450/3 | €10,236 | €1,544 | -€8,692 | -84.9% |
| Remuneration and social security | 454/9 | €11,421 | €13,458 | +€2,037 | +17.8% |
| Other amounts payable | 47/48 | €439,551 | €330,200 | -€109,351 | -24.9% |
| Accrued charges and deferred income | 492/3 | €197,379 | €196,935 | -€444 | -0.2% |
| Remuneration, social security and pensions | 62 | €81,603 | €87,306 | +€5,703 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,876 | €86,188 | +€21,311 | +32.8% |
| Other operating charges | 640/8 | €555 | €3,899 | +€3,344 | +602% |
| Gross operating margin | 9900 | €539,217 | €448,492 | -€90,724 | -16.8% |
| Operating profit (loss) | 9901 | €392,182 | €271,099 | -€121,082 | -30.9% |
| Financial income | 75/76B | €6 | €0 | -€6 | -98.3% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -98.3% |
| Financial charges | 65/66B | €5,539 | €15,894 | +€10,355 | +187% |
| Recurring financial charges | 65 | €5,539 | €15,894 | +€10,355 | +187% |
| Profit (loss) for the period before taxes | 9903 | €386,648 | €255,205 | -€131,443 | -34.0% |
| Income taxes | 67/77 | €95,739 | €64,510 | -€31,229 | -32.6% |
| Profit (loss) for the period | 9904 | €290,909 | €190,695 | -€100,214 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €290,909 | €190,695 | -€100,214 | -34.4% |
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 26 October 2026 via checked.be.