PHCON
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 05-06-2026 PDF all 2 filings
Every figure per financial year
The operating result for 2025 is 7% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Other operating charges640/8 | €1,277 | €509 | ▼ 60.1% |
| Gross operating margin9900 | €97,655 | €89,740 | ▼ 8.1% |
| Operating profit (loss)9901 | €96,379 | €89,232 | ▼ 7.4% |
| Financial income75/76B | €1,370 | €11 | ▼ 99.2% |
| Recurring financial income75 | €43 | €11 | ▼ 75.0% |
| Non-recurring financial income76B | €1,327 | - | - |
| Financial charges65/66B | €12,330 | €2,552 | ▼ 79.3% |
| Recurring financial charges65 | €12,330 | €2,552 | ▼ 79.3% |
| Profit (loss) for the period before taxes9903 | €85,419 | €86,691 | ▲ 1.5% |
| Income taxes67/77 | €17,084 | €17,338 | ▲ 1.5% |
| Profit (loss) for the period9904 | €68,335 | €69,352 | ▲ 1.5% |
| Profit (loss) for the period to be appropriated9905 | €68,335 | €69,352 | ▲ 1.5% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €920,031 | €858,309 | ▼ 6.7% |
| Current assets29/58 | €920,031 | €858,309 | ▼ 6.7% |
| Stocks and contracts in progress3 | €612,800 | €815,246 | ▲ 33.0% |
| Stocks30/36 | €612,800 | €815,246 | ▲ 33.0% |
| Amounts receivable within one year40/41 | €261,808 | €4,128 | ▼ 98.4% |
| Trade receivables40 | €261,808 | - | - |
| Other amounts receivable41 | - | €4,128 | - |
| Cash at bank and in hand54/58 | €44,226 | €38,858 | ▼ 12.1% |
| Deferred charges and accrued income490/1 | €1,197 | €77 | ▼ 93.6% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €920,031 | €858,309 | ▼ 6.7% |
| Equity10/15 | €73,335 | €142,688 | ▲ 94.6% |
| Contributions10/11 | €5,000 | €5,000 | = |
| Reserves13 | €68,335 | €137,688 | ▲ 101% |
| Distributable reserves133 | €68,335 | €137,688 | ▲ 101% |
| Amounts payable17/49 | €846,695 | €715,621 | ▼ 15.5% |
| Amounts payable within one year42/48 | €846,695 | €715,621 | ▼ 15.5% |
| Current portion of amounts payable after more than one year42 | €509,469 | €231,211 | ▼ 54.6% |
| Trade debts44 | €43,585 | €78,608 | ▲ 80.4% |
| Suppliers440/4 | €43,585 | €78,608 | ▲ 80.4% |
| Taxes, remuneration and social security45 | €90,083 | €34,422 | ▼ 61.8% |
| Taxes450/3 | €90,083 | €34,422 | ▼ 61.8% |
| Other amounts payable47/48 | €203,558 | €371,381 | ▲ 82.4% |
Historical observation
In July 2024, 1,602 companies had the same profile as PHCON has now. Two years later, 96.6% were still going and 2.3% had gone bankrupt.
- Small
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PHCON itself: 1.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,602 companies, not a prediction for PHCON. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.