VIENNE PHILIPPE: 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.
VIENNE PHILIPPE
Largest movements
- Receivables within one year +€59,394
up €59,394 (+16.2%), from €365,869 to €425,263
of which Trade receivables: +€59,037
- Cash -€32,296
down €32,296 (-20.8%), from €155,220 to €122,925
mainly Receivables within one year (-€59,394) and Other debts (-€27,432)
- Trade debts +€46,145
up €46,145 (+16.4%), from €280,519 to €326,664
- Other debts -€27,432
down €27,432 (-29.4%), from €93,360 to €65,927
- Reserves +€6,486
up €6,486 (+5.8%), from €110,935 to €117,422
of which Distributable reserves: +€6,486
- Financial charges -€4,888
down €4,888 (-42.2%), from €11,593 to €6,705
- Taxes +€1,046
up €1,046 (+36.6%), from €2,858 to €3,905
- Financial income +€1,045
up €1,045 (+31,663%), from €3 to €1,048
- Other operating charges -€635
down €635 (-26.6%), from €2,389 to €1,754
- Depreciation -€627
down €627 (-28.4%), from €2,204 to €1,577
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €571,240 | €597,827 | +€26,587 | +4.7% |
| Fixed assets | 21/28 | €48,067 | €46,610 | -€1,457 | -3.0% |
| Tangible fixed assets | 22/27 | €48,067 | €46,490 | -€1,577 | -3.3% |
| Land and buildings | 22 | €46,355 | €45,987 | -€368 | -0.8% |
| Plant, machinery and equipment | 23 | €328 | €7 | -€321 | -97.8% |
| Furniture and vehicles | 24 | €1,384 | €496 | -€888 | -64.2% |
| Financial fixed assets | 28 | - | €120 | +€120 | |
| Current assets | 29/58 | €523,173 | €551,217 | +€28,044 | +5.4% |
| Amounts receivable within one year | 40/41 | €365,869 | €425,263 | +€59,394 | +16.2% |
| Trade receivables | 40 | €365,869 | €424,906 | +€59,037 | +16.1% |
| Other amounts receivable | 41 | - | €357 | +€357 | |
| Cash at bank and in hand | 54/58 | €155,220 | €122,925 | -€32,296 | -20.8% |
| Deferred charges and accrued income | 490/1 | €2,084 | €3,030 | +€946 | +45.4% |
| Total equity and liabilities | 10/49 | €571,240 | €597,827 | +€26,587 | +4.7% |
| Equity | 10/15 | €172,535 | €179,022 | +€6,486 | +3.8% |
| Contributions | 10/11 | €61,600 | €61,600 | = | 0.0% |
| Capital | 10 | €61,600 | €61,600 | = | 0.0% |
| Issued capital | 100 | €61,600 | €61,600 | = | 0.0% |
| Reserves | 13 | €110,935 | €117,422 | +€6,486 | +5.8% |
| Non-distributable reserves | 130/1 | €6,160 | €6,160 | = | 0.0% |
| Legal reserve | 130 | €6,160 | €6,160 | = | 0.0% |
| Tax-exempt reserves | 132 | €55,174 | €55,174 | = | 0.0% |
| Distributable reserves | 133 | €49,602 | €56,088 | +€6,486 | +13.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €398,705 | €418,806 | +€20,101 | +5.0% |
| Amounts payable within one year | 42/48 | €391,691 | €413,318 | +€21,627 | +5.5% |
| Trade debts | 44 | €280,519 | €326,664 | +€46,145 | +16.4% |
| Suppliers | 440/4 | €280,519 | €326,664 | +€46,145 | +16.4% |
| Taxes, remuneration and social security | 45 | €17,813 | €20,727 | +€2,915 | +16.4% |
| Taxes | 450/3 | €17,813 | €20,727 | +€2,915 | +16.4% |
| Other amounts payable | 47/48 | €93,360 | €65,927 | -€27,432 | -29.4% |
| Accrued charges and deferred income | 492/3 | €7,013 | €5,487 | -€1,526 | -21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,204 | €1,577 | -€627 | -28.4% |
| Other operating charges | 640/8 | €2,389 | €1,754 | -€635 | -26.6% |
| Gross operating margin | 9900 | €18,800 | €19,379 | +€578 | +3.1% |
| Operating profit (loss) | 9901 | €14,207 | €16,048 | +€1,840 | +13.0% |
| Financial income | 75/76B | €3 | €1,048 | +€1,045 | +31,663% |
| Recurring financial income | 75 | €3 | €1,048 | +€1,045 | +31,663% |
| Financial charges | 65/66B | €11,593 | €6,705 | -€4,888 | -42.2% |
| Recurring financial charges | 65 | €11,593 | €6,705 | -€4,888 | -42.2% |
| Profit (loss) for the period before taxes | 9903 | €2,618 | €10,391 | +€7,773 | +297% |
| Income taxes | 67/77 | €2,858 | €3,905 | +€1,046 | +36.6% |
| Profit (loss) for the period | 9904 | -€241 | €6,486 | +€6,727 | |
| Profit (loss) for the period to be appropriated | 9905 | -€241 | €6,486 | +€6,727 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.