PIERRE - PHILIPPE HARMEL: 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.
PIERRE - PHILIPPE HARMEL
Largest movements
- Receivables within one year -€27,371
down €27,371 (-74.3%), from €36,827 to €9,457
of which Trade receivables: -€27,973
- Cash +€13,902
up €13,902 (+16.6%), from €83,856 to €97,758
mainly Receivables within one year (+€27,371) and Advances received (+€5,338)
- Trade debts -€10,611
down €10,611 (-71.4%), from €14,869 to €4,258
- Tax, wage and social debts -€6,513
no longer reported in 2025 (was €6,513)
- Advances received +€5,338
up €5,338 (+52.2%), from €10,235 to €15,573
- Profit (loss) carried forward -€2,789
down €2,789 (-143%), from -€1,956 to -€4,744
- Gross operating margin -€5,372
down €5,372, from €4,105 to -€1,267
- Depreciation -€1,417
down €1,417 (-70.4%), from €2,013 to €595
- Taxes -€1,290
down €1,290 (-99.0%), from €1,304 to €14
- Financial charges +€49
up €49 (+10.2%), from €477 to €526
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 | €121,278 | €107,706 | -€13,572 | -11.2% |
| Fixed assets | 21/28 | €595 | - | -€595 | |
| Tangible fixed assets | 22/27 | €595 | - | -€595 | |
| Furniture and vehicles | 24 | €595 | - | -€595 | |
| Current assets | 29/58 | €120,683 | €107,706 | -€12,976 | -10.8% |
| Amounts receivable within one year | 40/41 | €36,827 | €9,457 | -€27,371 | -74.3% |
| Trade receivables | 40 | €36,827 | €8,855 | -€27,973 | -76.0% |
| Other amounts receivable | 41 | - | €602 | +€602 | |
| Cash at bank and in hand | 54/58 | €83,856 | €97,758 | +€13,902 | +16.6% |
| Deferred charges and accrued income | 490/1 | - | €492 | +€492 | |
| Total equity and liabilities | 10/49 | €121,278 | €107,706 | -€13,572 | -11.2% |
| Equity | 10/15 | €41,835 | €39,046 | -€2,789 | -6.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €31,390 | €31,390 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €29,530 | €29,530 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,956 | -€4,744 | -€2,789 | -143% |
| Amounts payable | 17/49 | €79,444 | €68,660 | -€10,783 | -13.6% |
| Amounts payable within one year | 42/48 | €79,444 | €68,660 | -€10,783 | -13.6% |
| Trade debts | 44 | €14,869 | €4,258 | -€10,611 | -71.4% |
| Suppliers | 440/4 | €14,869 | €4,258 | -€10,611 | -71.4% |
| Advances received on contracts in progress | 46 | €10,235 | €15,573 | +€5,338 | +52.2% |
| Taxes, remuneration and social security | 45 | €6,513 | - | -€6,513 | |
| Taxes | 450/3 | €6,513 | - | -€6,513 | |
| Other amounts payable | 47/48 | €47,827 | €48,829 | +€1,002 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,013 | €595 | -€1,417 | -70.4% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €4,105 | -€1,267 | -€5,372 | |
| Operating profit (loss) | 9901 | €1,708 | -€2,249 | -€3,958 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €477 | €526 | +€49 | +10.2% |
| Recurring financial charges | 65 | €477 | €526 | +€49 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €1,231 | -€2,775 | -€4,006 | |
| Income taxes | 67/77 | €1,304 | €14 | -€1,290 | -99.0% |
| Profit (loss) for the period | 9904 | -€72 | -€2,789 | -€2,716 | -3,748% |
| Profit (loss) for the period to be appropriated | 9905 | -€72 | -€2,789 | -€2,716 | -3,748% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.