PHILIPPE VAN KLEEF: 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 VAN KLEEF
Largest movements
- Receivables within one year -€37,140
down €37,140 (-32.7%), from €113,486 to €76,346
of which Trade receivables: -€34,474
- Tangible fixed assets +€24,529
up €24,529 (+584%), from €4,199 to €28,729
of which Furniture and vehicles: +€23,466
- Intangible fixed assets -€22,500
down €22,500 (-67.7%), from €33,255 to €10,755
- Cash +€12,681
up €12,681 (+63.2%), from €20,051 to €32,732
mainly Receivables within one year (+€37,140) and Depreciation (+€30,877)
- Stocks and contracts -€1,805
no longer reported in 2025 (was €1,805)
- Trade debts -€30,156
down €30,156 (-36.2%), from €83,226 to €53,070
- Current portion of long-term debt -€25,711
down €25,711 (-64.4%), from €39,913 to €14,202
- Tax, wage and social debts +€18,196
up €18,196 (+264%), from €6,887 to €25,083
of which Remuneration and social security: +€10,897
- Debts after one year +€9,873
up €9,873 (+100%), from €9,846 to €19,719
- Other debts +€4,286
up €4,286 (+64.1%), from €6,686 to €10,972
- Gross operating margin -€33,989
down €33,989 (-44.2%), from €76,875 to €42,886
- Staff costs -€26,675
down €26,675 (-92.5%), from €28,844 to €2,169
- Depreciation +€7,141
up €7,141 (+30.1%), from €23,736 to €30,877
- Financial charges -€5,506
down €5,506 (-61.6%), from €8,935 to €3,429
- Other operating charges -€1,920
down €1,920 (-24.1%), from €7,984 to €6,063
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 | €174,954 | €151,030 | -€23,925 | -13.7% |
| Fixed assets | 21/28 | €37,669 | €39,699 | +€2,029 | +5.4% |
| Intangible fixed assets | 21 | €33,255 | €10,755 | -€22,500 | -67.7% |
| Tangible fixed assets | 22/27 | €4,199 | €28,729 | +€24,529 | +584% |
| Plant, machinery and equipment | 23 | €1,682 | €3,535 | +€1,853 | +110% |
| Furniture and vehicles | 24 | - | €23,466 | +€23,466 | |
| Other tangible fixed assets | 26 | €2,517 | €1,728 | -€789 | -31.3% |
| Financial fixed assets | 28 | €215 | €215 | = | 0.0% |
| Current assets | 29/58 | €137,285 | €111,331 | -€25,954 | -18.9% |
| Stocks and contracts in progress | 3 | €1,805 | - | -€1,805 | |
| Stocks | 30/36 | €1,805 | - | -€1,805 | |
| Amounts receivable within one year | 40/41 | €113,486 | €76,346 | -€37,140 | -32.7% |
| Trade receivables | 40 | €101,905 | €67,431 | -€34,474 | -33.8% |
| Other amounts receivable | 41 | €11,581 | €8,915 | -€2,666 | -23.0% |
| Cash at bank and in hand | 54/58 | €20,051 | €32,732 | +€12,681 | +63.2% |
| Deferred charges and accrued income | 490/1 | €1,944 | €2,253 | +€310 | +15.9% |
| Total equity and liabilities | 10/49 | €174,954 | €151,030 | -€23,925 | -13.7% |
| Equity | 10/15 | €21,621 | €21,020 | -€601 | -2.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | - | -€6,200 | |
| Other | 1109/19 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €15,421 | €14,820 | -€601 | -3.9% |
| Distributable reserves | 133 | €15,421 | €14,820 | -€601 | -3.9% |
| Amounts payable | 17/49 | €153,333 | €130,009 | -€23,324 | -15.2% |
| Amounts payable after more than one year | 17 | €9,846 | €19,719 | +€9,873 | +100% |
| Financial debts | 170/4 | €9,846 | €19,719 | +€9,873 | +100% |
| Amounts payable within one year | 42/48 | €143,487 | €110,290 | -€33,197 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €39,913 | €14,202 | -€25,711 | -64.4% |
| Trade debts | 44 | €83,226 | €53,070 | -€30,156 | -36.2% |
| Suppliers | 440/4 | €83,226 | €53,070 | -€30,156 | -36.2% |
| Advances received on contracts in progress | 46 | €6,775 | €6,963 | +€188 | +2.8% |
| Taxes, remuneration and social security | 45 | €6,887 | €25,083 | +€18,196 | +264% |
| Taxes | 450/3 | €2,559 | €9,858 | +€7,299 | +285% |
| Remuneration and social security | 454/9 | €4,328 | €15,225 | +€10,897 | +252% |
| Other amounts payable | 47/48 | €6,686 | €10,972 | +€4,286 | +64.1% |
| Remuneration, social security and pensions | 62 | €28,844 | €2,169 | -€26,675 | -92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,736 | €30,877 | +€7,141 | +30.1% |
| Other operating charges | 640/8 | €7,984 | €6,063 | -€1,920 | -24.1% |
| Operating charges capitalised as restructuring costs | 649 | - | -€94 | -€94 | |
| Gross operating margin | 9900 | €76,875 | €42,886 | -€33,989 | -44.2% |
| Operating profit (loss) | 9901 | €16,312 | €3,871 | -€12,441 | -76.3% |
| Financial income | 75/76B | €4 | €0 | -€3 | -96.4% |
| Recurring financial income | 75 | €4 | €0 | -€3 | -96.4% |
| Financial charges | 65/66B | €8,935 | €3,429 | -€5,506 | -61.6% |
| Recurring financial charges | 65 | €8,935 | €3,429 | -€5,506 | -61.6% |
| Profit (loss) for the period before taxes | 9903 | €7,380 | €442 | -€6,938 | -94.0% |
| Income taxes | 67/77 | €2,542 | €1,043 | -€1,499 | -59.0% |
| Profit (loss) for the period | 9904 | €4,838 | -€601 | -€5,439 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,838 | -€601 | -€5,439 |
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 19 October 2026 via checked.be.