PHILIPPE VANHAMME: what changed
Two fiscal 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 VANHAMME
Largest movements
- Tangible fixed assets +€18,374
up €18,374 (+50.2%), from €36,580 to €54,954
of which Furniture and vehicles: +€18,473
- Receivables after one year -€8,000
no longer reported in 2025 (was €8,000)
- Receivables within one year -€2,092
down €2,092 (-8.6%), from €24,256 to €22,165
of which Other amounts receivable: -€3,182
- Debts after one year +€15,502
up €15,502 (+68.9%), from €22,505 to €38,007
- Profit (loss) carried forward -€11,203
down €11,203 (-111.2%), from -€10,075 to -€21,279
- Current portion of long-term debt +€5,825
up €5,825 (+70.9%), from €8,217 to €14,041
- Tax, wage and social debts -€5,235
no longer reported in 2025 (was €5,235)
- Trade debts +€2,071
up €2,071 (+2084.7%), from €99 to €2,170
- Gross operating margin -€15,162
down €15,162 (-54.8%), from €27,644 to €12,482
- Taxes -€7,522
down €7,522, from €6,122 to -€1,401
- Depreciation +€2,498
up €2,498 (+19.7%), from €12,673 to €15,171
- Other operating charges -€493
down €493 (-22.1%), from €2,236 to €1,742
- Financial charges -€458
down €458 (-12.1%), from €3,788 to €3,330
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.
Cash bridge derived
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 | €75,981 | €82,940 | +€6,959 | +9.2% |
| Fixed assets | 21/28 | €36,580 | €54,954 | +€18,374 | +50.2% |
| Tangible fixed assets | 22/27 | €36,580 | €54,954 | +€18,374 | +50.2% |
| Plant, machinery and equipment | 23 | €98 | - | -€98 | |
| Furniture and vehicles | 24 | €36,481 | €54,954 | +€18,473 | +50.6% |
| Current assets | 29/58 | €39,401 | €27,986 | -€11,415 | -29.0% |
| Amounts receivable after more than one year | 29 | €8,000 | - | -€8,000 | |
| Other amounts receivable | 291 | €8,000 | - | -€8,000 | |
| Amounts receivable within one year | 40/41 | €24,256 | €22,165 | -€2,092 | -8.6% |
| Trade receivables | 40 | €8,661 | €9,751 | +€1,090 | +12.6% |
| Other amounts receivable | 41 | €15,595 | €12,413 | -€3,182 | -20.4% |
| Cash at bank and in hand | 54/58 | €6,644 | €5,821 | -€823 | -12.4% |
| Deferred charges and accrued income | 490/1 | €500 | - | -€500 | |
| Total equity and liabilities | 10/49 | €75,981 | €82,940 | +€6,959 | +9.2% |
| Equity | 10/15 | €39,925 | €28,721 | -€11,203 | -28.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,075 | -€21,279 | -€11,203 | -111.2% |
| Amounts payable | 17/49 | €36,056 | €54,219 | +€18,163 | +50.4% |
| Amounts payable after more than one year | 17 | €22,505 | €38,007 | +€15,502 | +68.9% |
| Financial debts | 170/4 | €22,505 | €38,007 | +€15,502 | +68.9% |
| Amounts payable within one year | 42/48 | €13,551 | €16,211 | +€2,660 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €8,217 | €14,041 | +€5,825 | +70.9% |
| Trade debts | 44 | €99 | €2,170 | +€2,071 | +2084.7% |
| Suppliers | 440/4 | €99 | €2,170 | +€2,071 | +2084.7% |
| Taxes, remuneration and social security | 45 | €5,235 | - | -€5,235 | |
| Taxes | 450/3 | €5,235 | - | -€5,235 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,673 | €15,171 | +€2,498 | +19.7% |
| Other operating charges | 640/8 | €2,236 | €1,742 | -€493 | -22.1% |
| Gross operating margin | 9900 | €27,644 | €12,482 | -€15,162 | -54.8% |
| Operating profit (loss) | 9901 | €12,735 | -€4,431 | -€17,167 | |
| Financial income | 75/76B | €216 | €158 | -€58 | -26.9% |
| Recurring financial income | 75 | €216 | €158 | -€58 | -26.9% |
| Financial charges | 65/66B | €3,788 | €3,330 | -€458 | -12.1% |
| Recurring financial charges | 65 | €3,788 | €3,330 | -€458 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €9,163 | -€7,604 | -€16,767 | |
| Income taxes | 67/77 | €6,122 | -€1,401 | -€7,522 | |
| Profit (loss) for the period | 9904 | €3,041 | -€6,203 | -€9,244 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,041 | -€6,203 | -€9,244 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.