Philippe TRIGAUX: 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 TRIGAUX
Largest movements
- Current investments +€58,027
up €58,027 (+853%), from €6,801 to €64,828
- Reserves +€46,837
up €46,837 (+6.9%), from €682,614 to €729,451
- Tax, wage and social debts -€9,015
no longer reported in 2025 (was €9,015)
- Gross operating margin -€57,442
down €57,442 (-45.5%), from €126,202 to €68,760
- Taxes -€16,468
down €16,468 (-48.1%), from €34,211 to €17,743
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 | €710,349 | €751,175 | +€40,827 | +5.7% |
| Fixed assets | 21/28 | €241,650 | €236,926 | -€4,724 | -2.0% |
| Tangible fixed assets | 22/27 | €241,650 | €236,926 | -€4,724 | -2.0% |
| Land and buildings | 22 | €230,932 | €230,932 | = | 0.0% |
| Furniture and vehicles | 24 | €10,718 | €5,994 | -€4,724 | -44.1% |
| Current assets | 29/58 | €468,698 | €514,249 | +€45,551 | +9.7% |
| Amounts receivable within one year | 40/41 | €65,091 | €57,783 | -€7,308 | -11.2% |
| Other amounts receivable | 41 | €65,091 | €57,783 | -€7,308 | -11.2% |
| Current investments | 50/53 | €6,801 | €64,828 | +€58,027 | +853% |
| Cash at bank and in hand | 54/58 | €394,996 | €389,959 | -€5,037 | -1.3% |
| Deferred charges and accrued income | 490/1 | €1,810 | €1,679 | -€131 | -7.2% |
| Total equity and liabilities | 10/49 | €710,349 | €751,175 | +€40,827 | +5.7% |
| Equity | 10/15 | €697,740 | €747,604 | +€49,864 | +7.1% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Revaluation surpluses | 12 | €866 | €3,893 | +€3,027 | +350% |
| Reserves | 13 | €682,614 | €729,451 | +€46,837 | +6.9% |
| Distributable reserves | 133 | €682,614 | €729,451 | +€46,837 | +6.9% |
| Amounts payable | 17/49 | €12,609 | €3,572 | -€9,037 | -71.7% |
| Amounts payable within one year | 42/48 | €12,446 | €3,572 | -€8,875 | -71.3% |
| Trade debts | 44 | €3,431 | €3,572 | +€141 | +4.1% |
| Suppliers | 440/4 | €3,431 | €3,572 | +€141 | +4.1% |
| Taxes, remuneration and social security | 45 | €9,015 | - | -€9,015 | |
| Taxes | 450/3 | €9,015 | - | -€9,015 | |
| Accrued charges and deferred income | 492/3 | €163 | - | -€163 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,771 | €4,724 | -€47 | -1.0% |
| Other operating charges | 640/8 | €1,630 | €1,678 | +€48 | +2.9% |
| Gross operating margin | 9900 | €126,202 | €68,760 | -€57,442 | -45.5% |
| Operating profit (loss) | 9901 | €119,801 | €62,358 | -€57,444 | -47.9% |
| Financial income | 75/76B | €1,535 | €2,297 | +€762 | +49.6% |
| Recurring financial income | 75 | €1,535 | €2,297 | +€762 | +49.6% |
| Financial charges | 65/66B | €125 | €75 | -€50 | -40.2% |
| Recurring financial charges | 65 | €125 | €75 | -€50 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €121,211 | €64,579 | -€56,632 | -46.7% |
| Income taxes | 67/77 | €34,211 | €17,743 | -€16,468 | -48.1% |
| Profit (loss) for the period | 9904 | €87,000 | €46,837 | -€40,163 | -46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €87,000 | €46,837 | -€40,163 | -46.2% |
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 17 October 2026 via checked.be.