Philippebourg: 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.
Philippebourg
Largest movements
- Cash -€177,269
down €177,269 (-77.5%), from €228,740 to €51,471
mainly Receivables within one year (-€98,000) and Investment in fixed assets (net) (-€78,483)
- Receivables within one year +€98,000
up €98,000 (+562%), from €17,453 to €115,453
of which Trade receivables: +€111,150
- Stocks and contracts +€33,820
up €33,820 (+37.6%), from €89,881 to €123,701
- Tangible fixed assets -€30,686
down €30,686 (-5.6%), from €546,701 to €516,015
of which Plant, machinery and equipment: -€52,850
- Current portion of long-term debt -€53,667
down €53,667 (-72.9%), from €73,667 to €20,000
- Other debts +€50,000
up €50,000 (+12.6%), from €395,698 to €445,698
- Accrued charges and deferred income -€35,000
no longer reported in 2025 (was €35,000)
- Debts after one year -€20,000
down €20,000 (-20.0%), from €100,000 to €80,000
- Gross operating margin -€62,452
down €62,452 (-38.4%), from €162,787 to €100,336
- Depreciation +€24,098
up €24,098 (+28.3%), from €85,071 to €109,169
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 | €883,873 | €808,050 | -€75,824 | -8.6% |
| Fixed assets | 21/28 | €547,063 | €516,377 | -€30,686 | -5.6% |
| Tangible fixed assets | 22/27 | €546,701 | €516,015 | -€30,686 | -5.6% |
| Land and buildings | 22 | €158,262 | €148,262 | -€10,000 | -6.3% |
| Plant, machinery and equipment | 23 | €388,195 | €335,345 | -€52,850 | -13.6% |
| Furniture and vehicles | 24 | €244 | €32,408 | +€32,164 | +13,165% |
| Financial fixed assets | 28 | €362 | €362 | = | 0.0% |
| Current assets | 29/58 | €336,810 | €291,673 | -€45,137 | -13.4% |
| Stocks and contracts in progress | 3 | €89,881 | €123,701 | +€33,820 | +37.6% |
| Stocks | 30/36 | €89,881 | €123,701 | +€33,820 | +37.6% |
| Amounts receivable within one year | 40/41 | €17,453 | €115,453 | +€98,000 | +562% |
| Trade receivables | 40 | €3,084 | €114,234 | +€111,150 | +3,604% |
| Other amounts receivable | 41 | €14,369 | €1,219 | -€13,150 | -91.5% |
| Cash at bank and in hand | 54/58 | €228,740 | €51,471 | -€177,269 | -77.5% |
| Deferred charges and accrued income | 490/1 | €736 | €1,048 | +€312 | +42.4% |
| Total equity and liabilities | 10/49 | €883,873 | €808,050 | -€75,824 | -8.6% |
| Equity | 10/15 | €259,879 | €245,203 | -€14,676 | -5.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €41,823 | €34,323 | -€7,500 | -17.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,623 | €28,123 | -€7,500 | -21.1% |
| Profit (loss) carried forward | 14 | €156,057 | €148,881 | -€7,176 | -4.6% |
| Provisions and deferred taxes | 16 | €11,544 | €9,044 | -€2,500 | -21.7% |
| Deferred taxes | 168 | €11,544 | €9,044 | -€2,500 | -21.7% |
| Amounts payable | 17/49 | €612,450 | €553,802 | -€58,648 | -9.6% |
| Amounts payable after more than one year | 17 | €100,000 | €80,000 | -€20,000 | -20.0% |
| Financial debts | 170/4 | €100,000 | €80,000 | -€20,000 | -20.0% |
| Amounts payable within one year | 42/48 | €477,450 | €473,802 | -€3,648 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €73,667 | €20,000 | -€53,667 | -72.9% |
| Trade debts | 44 | €8,086 | €8,105 | +€19 | +0.2% |
| Suppliers | 440/4 | €8,086 | €8,105 | +€19 | +0.2% |
| Other amounts payable | 47/48 | €395,698 | €445,698 | +€50,000 | +12.6% |
| Accrued charges and deferred income | 492/3 | €35,000 | - | -€35,000 | |
| Remuneration, social security and pensions | 62 | €1,289 | - | -€1,289 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,071 | €109,169 | +€24,098 | +28.3% |
| Other operating charges | 640/8 | €3,756 | €2,926 | -€830 | -22.1% |
| Gross operating margin | 9900 | €162,787 | €100,336 | -€62,452 | -38.4% |
| Operating profit (loss) | 9901 | €72,671 | -€11,759 | -€84,430 | |
| Financial income | 75/76B | €57 | - | -€57 | |
| Recurring financial income | 75 | €57 | - | -€57 | |
| Financial charges | 65/66B | €4,561 | €5,417 | +€856 | +18.8% |
| Recurring financial charges | 65 | €4,561 | €5,417 | +€856 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €68,167 | -€17,176 | -€85,342 | |
| Transfer from deferred taxes | 780 | €956 | €2,500 | +€1,544 | +161% |
| Transfer to deferred taxes | 680 | €12,500 | - | -€12,500 | |
| Income taxes | 67/77 | €1 | - | -€1 | |
| Profit (loss) for the period | 9904 | €56,622 | -€14,676 | -€71,298 | |
| Transfer from tax-exempt reserves | 789 | €2,869 | €7,500 | +€4,631 | +161% |
| Transfer to tax-exempt reserves | 689 | €37,500 | - | -€37,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,991 | -€7,176 | -€29,167 |
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.