Philippe Wangen: 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 Wangen
Largest movements
- Receivables within one year +€16,140
up €16,140 (+94.1%), from €17,160 to €33,300
of which Other amounts receivable: +€11,370
- Cash +€7,274
up €7,274 (+48.5%), from €14,995 to €22,269
mainly Trade debts (+€14,416) and Net result for the year (+€9,010)
- Tangible fixed assets -€2,474
down €2,474 (-70.8%), from €3,497 to €1,023
- Financial fixed assets +€1,056
up €1,056 (+3.5%), from €30,162 to €31,218
- Trade debts +€14,416
up €14,416 (+720%), from €2,004 to €16,419
- Profit (loss) carried forward +€9,010
up €9,010 (+13.9%), from €64,654 to €73,663
- Financial income +€1,101
up €1,101, from €0 to €1,101
- Other operating charges +€954
up €954 (+135%), from €705 to €1,659
- Financial charges +€715
up €715, from -€529 to €186
- Gross operating margin -€543
down €543 (-3.5%), from €15,667 to €15,124
- Taxes -€257
down €257 (-8.1%), from €3,152 to €2,896
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 | €69,544 | €92,533 | +€22,989 | +33.1% |
| Fixed assets | 21/28 | €33,660 | €32,241 | -€1,419 | -4.2% |
| Tangible fixed assets | 22/27 | €3,497 | €1,023 | -€2,474 | -70.8% |
| Furniture and vehicles | 24 | €3,497 | €1,023 | -€2,474 | -70.8% |
| Financial fixed assets | 28 | €30,162 | €31,218 | +€1,056 | +3.5% |
| Current assets | 29/58 | €35,885 | €60,292 | +€24,407 | +68.0% |
| Stocks and contracts in progress | 3 | €3,729 | €4,020 | +€291 | +7.8% |
| Stocks | 30/36 | €3,729 | €4,020 | +€291 | +7.8% |
| Amounts receivable within one year | 40/41 | €17,160 | €33,300 | +€16,140 | +94.1% |
| Trade receivables | 40 | €15,109 | €19,879 | +€4,770 | +31.6% |
| Other amounts receivable | 41 | €2,051 | €13,421 | +€11,370 | +554% |
| Cash at bank and in hand | 54/58 | €14,995 | €22,269 | +€7,274 | +48.5% |
| Deferred charges and accrued income | 490/1 | €0 | €702 | +€702 | |
| Total equity and liabilities | 10/49 | €69,544 | €92,533 | +€22,989 | +33.1% |
| Equity | 10/15 | €67,104 | €76,113 | +€9,010 | +13.4% |
| Contributions | 10/11 | €2,450 | €2,450 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,654 | €73,663 | +€9,010 | +13.9% |
| Amounts payable | 17/49 | €2,440 | €16,419 | +€13,979 | +573% |
| Amounts payable within one year | 42/48 | €2,440 | €16,419 | +€13,979 | +573% |
| Trade debts | 44 | €2,004 | €16,419 | +€14,416 | +720% |
| Suppliers | 440/4 | €2,004 | €16,419 | +€14,416 | +720% |
| Advances received on contracts in progress | 46 | €437 | €0 | -€437 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,476 | €2,474 | -€1 | 0.0% |
| Other operating charges | 640/8 | €705 | €1,659 | +€954 | +135% |
| Gross operating margin | 9900 | €15,667 | €15,124 | -€543 | -3.5% |
| Operating profit (loss) | 9901 | €12,486 | €10,990 | -€1,496 | -12.0% |
| Financial income | 75/76B | €0 | €1,101 | +€1,101 | |
| Recurring financial income | 75 | €0 | €1,101 | +€1,101 | |
| Financial charges | 65/66B | -€529 | €186 | +€715 | |
| Recurring financial charges | 65 | -€529 | €186 | +€715 | |
| Profit (loss) for the period before taxes | 9903 | €13,015 | €11,905 | -€1,110 | -8.5% |
| Income taxes | 67/77 | €3,152 | €2,896 | -€257 | -8.1% |
| Profit (loss) for the period | 9904 | €9,863 | €9,010 | -€853 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,863 | €9,010 | -€853 | -8.7% |
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 15 October 2026 via checked.be.