PhaRa (0477.045.208): financials and annual accounts

PhaRa

Antwerp ·KBO/BCE: BE 0477.045.208

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Balance sheet: assets
Total assets`20/58`	2.3m	2.4m	1.8m	1.7m	1.9m	1.6m	1.4m	1.4m	1.4m	1.4m	1.4m	1.3m	939,510	848,821	777,520	810,084	525,383
Fixed assets`21/28`	0	22,931	28,064	42,034	57,078	72,560	93,632	157,294	478,120	576,485	622,871	599,972	262,483	260,517	294,886	314,800	290,347
Intangible fixed assets`21`	-	-	-	-	-	-	0	2,795	5,590	-	-	-	-	-	-	-	-
Tangible fixed assets`22/27`	0	22,931	28,064	42,034	57,078	72,560	93,632	132,354	450,385	526,982	570,536	533,951	211,369	231,792	265,943	280,006	256,442
Land and buildings`22`	0	22,931	25,177	27,424	29,671	31,917	34,164	36,411	42,622	46,221	43,151	45,397	182,226	197,877	213,527	224,012	234,146
Plant, machinery and equipment`23`	-	-	-	-	0	329	3,583	8,082	15,052	32,141	31,781	13,397	3,871	4,778	14,557	21,017	1,667
Furniture and vehicles`24`	-	-	0	1,600	4,235	6,870	12,408	24,543	43,852	46,075	46,331	30,433	25,273	29,137	37,859	34,977	20,628
Other tangible fixed assets`26`	-	0	2,886	13,010	23,172	33,443	43,478	63,318	348,859	402,546	449,273	444,724	-	-	-	-	-
Financial fixed assets`28`	-	-	-	-	-	-	0	22,145	22,145	49,502	52,335	66,022	51,114	28,725	28,943	34,794	33,906
Current assets`29/58`	2.3m	2.3m	1.8m	1.7m	1.9m	1.6m	1.3m	1.3m	931,677	809,102	799,510	652,839	677,027	588,305	482,634	495,284	235,035
Amounts receivable after more than one year`29`	-	-	-	-	-	-	-	672,678	651,965	-	-	-	-	-	-	-	-
Trade receivables`290`	-	-	-	-	-	-	-	654,312	528,888	-	-	-	-	-	-	-	-
Other amounts receivable`291`	-	-	-	-	-	-	-	18,366	123,077	-	-	-	-	-	-	-	-
Amounts receivable within one year`40/41`	1.9m	1.9m	1.4m	1.3m	1.3m	1.0m	1.1m	-	-	486,883	425,943	352,832	238,356	327,749	237,947	199,800	108,394
Trade receivables`40`	1.8m	1.9m	1.4m	1.3m	1.3m	972,858	1.1m	-	-	451,676	381,625	347,365	219,281	321,086	209,952	183,214	88,278
Other amounts receivable`41`	128,025	65,875	52,067	38,881	77,200	42,435	79,103	-	-	35,207	44,318	5,467	19,075	6,663	27,995	16,586	20,116
Current investments`50/53`	-	-	-	-	0	10	10	10	10	-	-	-	-	-	-	-	-
Cash at bank and in hand`54/58`	348,074	385,708	390,486	363,113	534,234	556,097	109,510	427,021	279,306	313,366	360,752	292,561	438,658	260,365	242,582	294,554	126,325
Deferred charges and accrued income`490/1`	28,327	6,340	4,673	5,150	5,342	491	10,697	159,871	395	8,853	12,815	7,447	12	191	2,105	931	316
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	2.3m	2.4m	1.8m	1.7m	1.9m	1.6m	1.4m	1.4m	1.4m	1.4m	1.4m	1.3m	939,510	848,821	777,520	810,084	525,383
Equity`10/15`	557,175	557,175	527,911	604,912	604,912	584,570	632,959	624,763	580,488	553,054	660,037	571,710	430,558	448,605	293,601	351,271	201,980
Contributions`10/11`	18,550	18,550	18,550	18,550	18,550	18,550	18,550	18,550	18,550	18,550	263,456	263,456	263,456	18,550	18,550	18,550	18,550
Issued capital`100`	-	-	-	-	-	-	18,550	18,550	18,550	18,550	263,456	263,456	263,456	18,550	18,550	18,550	18,550
Reserves`13`	27,424	27,424	27,424	27,424	27,424	27,424	120,424	120,424	120,424	120,424	27,424	27,424	12,098	275,051	275,051	332,721	183,430
Non-distributable reserves`130/1`	26,346	26,346	26,346	26,346	26,346	26,346	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	26,346	26,346	26,346	26,346	26,346	26,346	11,020	1,855	1,855	1,855	1,855
Reserves not available under the articles`1311`	26,346	26,346	26,346	26,346	26,346	26,346	-	-	-	-	-	-	-	-	-	-	-
Tax-exempt reserves`132`	-	-	-	-	-	0	93,000	93,000	93,000	93,000	-	-	-	-	-	-	-
Distributable reserves`133`	1,078	1,078	1,078	1,078	1,078	1,078	1,078	1,078	1,078	1,078	1,078	1,078	1,078	273,196	273,196	330,866	181,575
Profit (loss) carried forward`14`	511,202	511,202	481,937	558,938	558,938	538,596	493,985	485,789	441,514	414,080	369,157	280,830	155,004	155,004	-	-	-
Provisions and deferred taxes`16`	-	-	-	-	-	-	-	-	20,018	-	-	-	-	-	-	-	-
Provisions for liabilities and charges`160/5`	-	-	-	-	-	-	-	-	20,018	-	-	-	-	-	-	-	-
Major repairs and maintenance`162`	-	-	-	-	-	-	-	-	20,018	-	-	-	-	-	-	-	-
Amounts payable`17/49`	1.7m	1.8m	1.3m	1.1m	1.3m	1.1m	720,322	792,111	809,291	832,532	762,343	681,102	508,952	400,216	483,919	458,813	323,403
Amounts payable after more than one year`17`	-	-	-	-	-	-	-	-	44,876	96,840	147,962	195,014	-	-	19,048	49,773	84,591
Financial debts`170/4`	-	-	-	-	-	-	-	-	44,876	96,840	147,962	195,014	-	-	19,048	49,773	84,591
Amounts payable within one year`42/48`	1.7m	1.8m	1.3m	1.1m	1.3m	1.1m	720,322	779,814	760,965	723,879	614,382	485,302	501,637	400,216	457,924	403,999	221,976
Current portion of amounts payable after more than one year`42`	-	-	-	-	0	210,066	0	44,876	176,106	150,173	145,296	68,443	180,000	91,048	94,970	99,055	35,173
Financial debts`43`	50,420	289,594	316,551	207,815	540,977	77,650	216,144	40,789	100,000	-	200,000	-	-	-	-	-	-
Credit institutions`430/8`	50,420	289,594	316,551	207,815	540,977	-	-	-	100,000	-	200,000	-	-	-	-	-	-
Other loans`439`	-	-	-	-	0	77,650	216,144	40,789	-	-	-	-	-	-	-	-	-
Trade debts`44`	633,883	538,943	275,508	293,510	189,540	114,327	122,091	267,054	141,768	126,885	82,856	129,619	40,111	98,521	86,915	99,961	60,314
Suppliers`440/4`	633,883	538,943	275,508	293,510	189,540	114,327	122,091	267,054	141,768	126,885	82,856	129,619	40,111	98,521	86,915	99,961	60,314
Taxes, remuneration and social security`45`	481,192	495,087	533,058	472,033	422,686	359,535	208,331	145,874	207,153	176,272	185,069	272,985	201,456	210,532	120,839	74,739	27,278
Taxes`450/3`	0	81,417	0	9,687	363	759	502	571	31,158	50,603	9,899	76,064	30,108	24,967	-	9,967	-
Remuneration and social security`454/9`	481,192	413,670	533,058	462,345	422,324	358,777	207,829	145,303	175,994	125,669	175,171	196,920	171,348	185,565	120,839	64,773	27,278
Other amounts payable`47/48`	534,821	466,341	176,551	142,881	175,853	298,301	173,756	281,221	135,938	270,549	1,161	14,255	80,070	115	155,200	130,244	99,210
Accrued charges and deferred income`492/3`	0	9,444	2,019	1,004	856	-	0	12,296	3,450	11,813	-	785	7,315	-	6,947	5,041	16,836
Income statement
Non-recurring operating income`76A`	35,869	-	-	-	-	0	6,807	173,583	9,540	-	-	31,061	-	-	2,762	25,000	-
Gross operating margin`9900`	3.5m	3.4m	3.3m	2.6m	2.7m	3.0m	2.5m	1.8m	1.7m	1.6m	1.4m	1.2m	877,277	943,663	711,732	501,365	306,470
Remuneration, social security and pensions`62`	3.0m	2.5m	2.6m	2.2m	2.1m	2.1m	2.1m	1.3m	1.4m	1.2m	1.1m	890,227	699,600	649,784	444,743	235,417	90,170
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	0	5,133	13,971	15,044	15,482	21,073	41,516	58,078	106,598	102,494	96,607	94,410	32,122	45,388	44,039	38,640	25,217
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	0	3,206	-466	1,914	0	596	-	-	-	-	-	-	-	-	-	-	-
Provisions for liabilities and charges: additions (uses and reversals)`635/8`	-	-	-	-	-	-	0	-20,018	20,018	-	-	-	-	-	-	-	-
Other operating charges`640/8`	27,626	3,117	3,024	2,658	2,627	12,821	28,161	14,494	15,350	2,247	17,164	15,224	5,470	3,112	3,227	2,379	2,833
Non-recurring operating charges`66A`	-	-	-	-	-	-	0	278,223	475	81	746	1,541	-	-	-	-	3,788
Operating profit (loss)`9901`	447,677	964,201	746,626	400,278	653,656	833,817	285,023	178,332	249,326	244,013	182,118	200,829	140,084	245,379	219,722	224,928	188,249
Financial income`75/76B`	7,543	10,955	8,019	44,518	15,196	636	13,931	175,603	11,178	921	790	1,325	1,771	2,100	2,038	2,220	2,484
Recurring financial income`75`	7,543	10,955	8,019	44,518	15,196	636	7,123	2,020	1,638	921	790	1,325	1,771	2,100	2,038	2,220	2,484
Non-recurring financial income`76B`	-	-	-	-	-	0	6,807	173,583	9,540	-	-	-	-	-	-	-	-
Financial charges`65/66B`	68,675	38,123	46,146	26,010	20,640	23,864	23,007	19,753	34,587	25,596	23,948	17,325	9,068	10,735	12,005	10,140	11,952
Recurring financial charges`65`	68,675	38,123	46,146	26,010	20,640	23,864	23,007	19,753	34,111	25,515	23,948	17,325	9,068	10,735	12,005	10,140	11,952
Non-recurring financial charges`66B`	-	-	-	-	-	-	-	-	475	81	-	-	-	-	-	-	-
Profit (loss) for the period before taxes`9903`	386,545	937,034	708,499	418,787	648,213	810,589	275,947	334,181	225,917	219,338	158,214	214,348	132,788	236,744	212,516	242,007	174,993
Income taxes`67/77`	115,696	256,442	196,650	126,080	183,945	215,936	112,026	112,786	88,749	81,415	69,886	73,197	43,623	81,740	70,187	75,306	47,418
Profit (loss) for the period`9904`	270,848	680,592	511,849	292,707	464,267	594,653	163,921	221,395	137,168	137,923	88,327	141,152	89,165	155,004	142,330	166,701	127,574
Transfer from tax-exempt reserves`789`	-	-	-	-	0	93,000	-	-	-	-	-	-	-	-	-	-	-
Transfer to tax-exempt reserves`689`	-	-	-	-	-	-	-	-	-	93,000	-	-	-	-	-	-	-
Profit (loss) for the period to be appropriated`9905`	270,848	680,592	511,849	292,707	464,267	687,653	163,921	221,395	137,168	44,923	88,327	141,152	89,165	155,004	142,330	166,701	127,574
Appropriation of the result
Profit (loss) to be appropriated`9906`	782,050	1.2m	1.1m	851,645	1.0m	1.1m	649,710	662,909	551,248	414,080	369,157	296,156	244,168	155,004	142,330	166,701	127,574
Profit (loss) brought forward from the previous period`14P`	511,202	481,937	558,938	558,938	538,596	-	-	-	-	-	-	-	-	-	-	-	-
Transfer from equity`791/2`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200,000	-	-
Transfer to equity`691/2`	-	-	-	-	-	-	-	-	-	-	-	15,326	9,165	-	142,330	149,291	115,074
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	15,326	9,165	-	-	-	-
To other reserves`6921`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	142,330	149,291	115,074
Profit to be distributed`694/7`	270,848	651,328	588,850	292,707	443,925	576,693	155,725	177,120	109,734	-	-	-	80,000	-	200,000	17,410	12,500
Return on contributions (dividend)`694`	185,730	556,018	500,000	221,281	386,502	535,187	155,725	177,120	109,734	-	-	-	80,000	-	200,000	2,410	-
Directors or managers`695`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,000	12,500
Employees`696`	85,118	95,310	88,850	71,427	57,423	41,506	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	20	18	17.1	15.7	14.4	17.2	17.5	12.2	12.7	10.1	11.6	10.2	7.7	7.5	4.3	2	1.1
Hours worked`1013`	34,640	30,369	29,781	25,038	24,031	29,196	29,539	20,799	21,168	209,067	20,072	16,823	12,866	12,080	7,364	3,481	1,888
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Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	16-06-2026	2026-00163772	PDF
31-12-2024	abbreviated format	28-05-2025	2025-00112573	PDF
31-12-2023	abbreviated format	26-06-2024	2024-00162155	PDF
31-12-2022	abbreviated format	21-06-2023	2023-00146405	PDF
31-12-2021	abbreviated format	03-06-2022	2022-20045377	PDF
31-12-2020	abbreviated format	28-05-2021	2021-15700125	PDF
31-12-2019	abbreviated format	12-05-2020	2020-12000475	PDF
31-12-2018	abbreviated format	21-06-2019	2019-22400160	PDF
31-12-2017	abbreviated format	07-05-2018	2018-12400096	PDF
31-12-2016	abbreviated format	22-05-2017	2017-12900381	PDF
31-12-2015	abbreviated format	09-05-2016	2016-11700175	PDF
31-12-2014	abbreviated format	13-07-2015	2015-30000279	PDF
31-12-2013	abbreviated format	03-06-2014	2014-14900496	PDF
31-12-2012	abbreviated format	08-07-2013	2013-28100357	PDF
31-12-2011	abbreviated format	16-07-2012	2012-30200231	PDF
31-12-2010	abbreviated format	28-06-2011	2011-22000468	PDF
31-12-2009	abbreviated format	16-07-2010	2010-31400305	PDF
31-12-2008	abbreviated format	10-07-2009	2009-32600367	PDF
31-12-2007	abbreviated format	16-05-2008	2008-13600325	PDF
31-12-2006	abbreviated format	07-06-2007	2007-18700354	PDF
31-12-2005	abbreviated format	28-04-2006	2006-11900214	PDF
31-12-2004	abbreviated format	07-04-2005	2005-10500182	PDF
31-12-2003	abbreviated format	13-05-2004	2004-14200088	PDF
31-12-2002	abbreviated format	19-06-2003	2003-25300065	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
EBITDA	447,677	969,334	760,597	415,322	669,138	854,890	326,539	236,410	355,924	346,507	278,725	295,238	172,207	290,767	263,761	263,568	213,467
Cash flow	270,848	685,724	525,820	307,751	479,749	615,725	205,437	279,473	243,766	240,417	184,934	235,561	121,287	200,392	186,369	205,341	152,792
Investment in fixed assets (approximation)	-22,931	0	0	0	0	0	0	13,174	35,591	59,140	133,192	603,830	34,088	11,237	30,186	63,093	4,573
Change in cash	-37,633	-4,778	27,373	-171,121	-21,862	446,587	-317,512	147,715	-34,060	-47,386	68,191	-146,097	178,294	17,783	-51,971	168,229	-
Working capital	557,175	543,688	501,866	563,882	548,691	512,010	539,327	479,766	170,712	85,222	185,128	167,537	175,390	188,088	24,710	91,285	13,059
Solvency	24.7%	23.6%	28.8%	35.1%	31.3%	35.5%	46.8%	44.1%	41.2%	39.9%	46.4%	45.6%	45.8%	52.9%	37.8%	43.4%	38.4%
Current ratio	1.33	1.30	1.39	1.51	1.41	1.48	1.75	1.62	1.22	1.12	1.30	1.35	1.35	1.47	1.05	1.23	1.06
Debt to equity	3.05	3.23	2.47	1.85	2.20	1.81	1.14	1.27	1.39	1.51	1.16	1.19	1.18	0.89	1.65	1.31	1.60
ROE	48.6%	122.2%	97.0%	48.4%	76.7%	101.7%	25.9%	35.4%	23.6%	24.9%	13.4%	24.7%	20.7%	34.6%	48.5%	47.5%	63.2%
ROA	12.0%	28.9%	27.9%	17.0%	24.0%	36.2%	12.1%	15.6%	9.7%	10.0%	6.2%	11.3%	9.5%	18.3%	18.3%	20.6%	24.3%
Interest coverage	6.52	25.43	16.48	15.97	32.42	-	-	-	-	-	-	-	-	-	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	22	21	19	20	15
full-time	16	14	13	14	11
part-time	6	7	6	6	4
in full-time equivalents	20.7	19.4	17.7	18.7	14.1
Average over the year, in full-time equivalents	20	18	17.1	15.7	14.4
On a permanent contract	22	21	19	20	15
Joined	2	5	2	5	1
Left	1	3	3	0	3
Training hours	64	42	88	186	-

PhaRa

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency24.7%

Current ratio1.33

Return on assets12.0%

Staff

Staff cost per FTE€148,797

Joined and left+1

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Insights on PhaRa

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