PHILIPPE TURCO: 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 TURCO
Largest movements
- Receivables after one year +€2,908
up €2,908 (+10.4%), from €27,881 to €30,789
- Receivables within one year +€2,241
up €2,241 (+23.3%), from €9,630 to €11,871
- Cash -€2,009
down €2,009 (-40.6%), from €4,946 to €2,937
mainly Contributions, distributions and other (-€20,438) and Receivables after one year (-€2,908)
- Trade debts +€3,782
up €3,782 (+147%), from €2,579 to €6,362
- Tax, wage and social debts -€831
down €831 (-3.9%), from €21,515 to €20,685
- Gross operating margin -€2,158
down €2,158 (-7.6%), from €28,526 to €26,369
- Taxes -€582
down €582 (-8.8%), from €6,607 to €6,025
- Financial charges +€428
up €428 (+582%), from €74 to €501
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 | €42,645 | €45,597 | +€2,952 | +6.9% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €42,645 | €45,597 | +€2,952 | +6.9% |
| Amounts receivable after more than one year | 29 | €27,881 | €30,789 | +€2,908 | +10.4% |
| Other amounts receivable | 291 | €27,881 | €30,789 | +€2,908 | +10.4% |
| Amounts receivable within one year | 40/41 | €9,630 | €11,871 | +€2,241 | +23.3% |
| Trade receivables | 40 | €9,630 | €11,871 | +€2,241 | +23.3% |
| Cash at bank and in hand | 54/58 | €4,946 | €2,937 | -€2,009 | -40.6% |
| Deferred charges and accrued income | 490/1 | €188 | €0 | -€188 | -100% |
| Total equity and liabilities | 10/49 | €42,645 | €45,597 | +€2,952 | +6.9% |
| Equity | 10/15 | €18,550 | €18,550 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Amounts payable | 17/49 | €24,095 | €27,047 | +€2,952 | +12.3% |
| Amounts payable within one year | 42/48 | €24,095 | €27,047 | +€2,952 | +12.3% |
| Trade debts | 44 | €2,579 | €6,362 | +€3,782 | +147% |
| Suppliers | 440/4 | €2,579 | €6,362 | +€3,782 | +147% |
| Taxes, remuneration and social security | 45 | €21,515 | €20,685 | -€831 | -3.9% |
| Taxes | 450/3 | €21,515 | €20,685 | -€831 | -3.9% |
| Other operating charges | 640/8 | €1,332 | €1,464 | +€133 | +10.0% |
| Gross operating margin | 9900 | €28,526 | €26,369 | -€2,158 | -7.6% |
| Operating profit (loss) | 9901 | €27,194 | €24,904 | -€2,290 | -8.4% |
| Financial income | 75/76B | €1,949 | €2,060 | +€111 | +5.7% |
| Recurring financial income | 75 | €1,949 | €2,060 | +€111 | +5.7% |
| Financial charges | 65/66B | €74 | €501 | +€428 | +582% |
| Recurring financial charges | 65 | €74 | €501 | +€428 | +582% |
| Profit (loss) for the period before taxes | 9903 | €29,070 | €26,463 | -€2,607 | -9.0% |
| Income taxes | 67/77 | €6,607 | €6,025 | -€582 | -8.8% |
| Profit (loss) for the period | 9904 | €22,463 | €20,438 | -€2,025 | -9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,463 | €20,438 | -€2,025 | -9.0% |
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 31 October 2026 via checked.be.