PHILIPPI MANAGEMENT: 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.
PHILIPPI MANAGEMENT
Largest movements
- Financial fixed assets -€778,000
no longer reported in 2025 (was €778,000)
- Receivables after one year +€674,457
new in 2025: €674,457
- Cash +€128,639
up €128,639 (+222%), from €58,062 to €186,702
mainly Investment in fixed assets (net) (+€677,156) and Net result for the year (+€140,248)
- Tangible fixed assets +€87,161
new in 2025: €87,161
of which Furniture and vehicles: +€72,369
- Current investments +€49,628
new in 2025: €49,628
- Reserves +€199,381
new in 2025: €199,381
- Profit (loss) carried forward -€59,992
no longer reported in 2025 (was €59,992)
- Tax, wage and social debts +€29,447
up €29,447 (+163%), from €18,028 to €47,476
- Trade debts +€10,502
up €10,502 (+1,280%), from €820 to €11,322
- Financial income +€74,516
up €74,516 (+371%), from €20,060 to €94,576
- Gross operating margin +€28,423
up €28,423 (+46.7%), from €60,831 to €89,254
- Depreciation +€12,390
up €12,390 (+959%), from €1,292 to €13,683
- Taxes +€11,396
up €11,396 (+63.2%), from €18,028 to €29,425
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 | €858,124 | €1,036,179 | +€178,056 | +20.7% |
| Fixed assets | 21/28 | €778,000 | €87,161 | -€690,839 | -88.8% |
| Tangible fixed assets | 22/27 | - | €87,161 | +€87,161 | |
| Land and buildings | 22 | - | €969 | +€969 | |
| Plant, machinery and equipment | 23 | - | €13,823 | +€13,823 | |
| Furniture and vehicles | 24 | - | €72,369 | +€72,369 | |
| Financial fixed assets | 28 | €778,000 | - | -€778,000 | |
| Current assets | 29/58 | €80,124 | €949,018 | +€868,895 | +1,084% |
| Amounts receivable after more than one year | 29 | - | €674,457 | +€674,457 | |
| Other amounts receivable | 291 | - | €674,457 | +€674,457 | |
| Amounts receivable within one year | 40/41 | €22,009 | €31,126 | +€9,117 | +41.4% |
| Trade receivables | 40 | €21,709 | €25,194 | +€3,485 | +16.1% |
| Other amounts receivable | 41 | €300 | €5,932 | +€5,632 | +1,877% |
| Current investments | 50/53 | - | €49,628 | +€49,628 | |
| Cash at bank and in hand | 54/58 | €58,062 | €186,702 | +€128,639 | +222% |
| Deferred charges and accrued income | 490/1 | €52 | €7,106 | +€7,053 | +13,468% |
| Total equity and liabilities | 10/49 | €858,124 | €1,036,179 | +€178,056 | +20.7% |
| Equity | 10/15 | €837,992 | €977,381 | +€139,389 | +16.6% |
| Contributions | 10/11 | €778,000 | €778,000 | = | 0.0% |
| Reserves | 13 | - | €199,381 | +€199,381 | |
| Distributable reserves | 133 | - | €199,381 | +€199,381 | |
| Profit (loss) carried forward | 14 | €59,992 | - | -€59,992 | |
| Amounts payable | 17/49 | €20,132 | €58,798 | +€38,666 | +192% |
| Amounts payable within one year | 42/48 | €20,132 | €58,798 | +€38,666 | +192% |
| Trade debts | 44 | €820 | €11,322 | +€10,502 | +1,280% |
| Suppliers | 440/4 | €820 | €11,322 | +€10,502 | +1,280% |
| Taxes, remuneration and social security | 45 | €18,028 | €47,476 | +€29,447 | +163% |
| Taxes | 450/3 | €18,028 | €47,476 | +€29,447 | +163% |
| Other amounts payable | 47/48 | €1,283 | - | -€1,283 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,292 | €13,683 | +€12,390 | +959% |
| Other operating charges | 640/8 | €117 | €62 | -€55 | -47.0% |
| Gross operating margin | 9900 | €60,831 | €89,254 | +€28,423 | +46.7% |
| Operating profit (loss) | 9901 | €59,422 | €75,510 | +€16,088 | +27.1% |
| Financial income | 75/76B | €20,060 | €94,576 | +€74,516 | +371% |
| Recurring financial income | 75 | €20,060 | €94,576 | +€74,516 | +371% |
| Financial charges | 65/66B | €40 | €413 | +€373 | +927% |
| Recurring financial charges | 65 | €40 | €413 | +€373 | +927% |
| Profit (loss) for the period before taxes | 9903 | €79,441 | €169,673 | +€90,232 | +114% |
| Income taxes | 67/77 | €18,028 | €29,425 | +€11,396 | +63.2% |
| Profit (loss) for the period | 9904 | €61,413 | €140,248 | +€78,835 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €61,413 | €140,248 | +€78,835 | +128% |
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 14 October 2026 via checked.be.