PHINCO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 26-06-2026 at the NBB all 29 filings
Turnover
≈ €350,000
Estimated: probably between €270,000 and €700,000
Total assets
€3.1m▲ 1.7%
2024 · €3.1m
Net result
€140,893▼ 2.9%
2024 · €145,088
Working capital
-€116,248▲ 55.1%
2024 · -€258,723
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€188,590
▼ 2.8%
2025
20182025
Net result
€140,893
▼ 2.9%
2025
highest quarter of the sector
20182025
Equity
€2.8m
▲ 5.4%
2025
highest quarter of the sector
20182025
Total assets
€3.1m
▲ 1.7%
2025
highest quarter of the sector
20182025
Debt
€350,943
▼ 20.2%
2025
20182025
Working capital
-€116,248
▲ 55.1%
2025
lowest quarter of the sector
20182025
Solvency
88.7%
▲ 3.1pp
2025
highest quarter of the sector
20182025
Current ratio
0.67
▲ 0.26
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
4.5%
▼ 0.2pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.1m-€0.1m▲ 2.8%€0.1m▲ 5.8%€0.2m▲ 5.3%€0.2m▲ 3.2%€0.2m▲ 16.3%€0.2m▲ 2.9%€0.2m▼ 2.8%
Net result€0.1m-€0.1m▲ 1.0%€0.1mabove the sector's middle half▲ 12.1%€0.1mabove the sector's middle half▲ 7.0%€0.1mabove the sector's middle half▲ 3.1%€0.1mabove the sector's middle half▲ 16.2%€0.1mabove the sector's middle half▲ 2.9%€0.1mabove the sector's middle half▼ 2.9%
Equity€1.9m-€2.0m▲ 5.2%€2.1mabove the sector's middle half▲ 5.6%€2.2mabove the sector's middle half▲ 5.6%€2.3mabove the sector's middle half▲ 5.5%€2.5mabove the sector's middle half▲ 6.1%€2.6mabove the sector's middle half▲ 5.9%€2.8mabove the sector's middle half▲ 5.4%
Total assets€3.0m-€3.0m▼ 1.7%€3.0mabove the sector's middle half▲ 0.7%€3.0mabove the sector's middle half▼ 0.5%€2.9mabove the sector's middle half▼ 1.3%€3.0mabove the sector's middle half▲ 2.4%€3.1mabove the sector's middle half▲ 2.1%€3.1mabove the sector's middle half▲ 1.7%
Debt€1.1m-€1.0m▼ 13.2%€0.9m▼ 9.0%€0.8m▼ 15.0%€0.6m▼ 21.3%€0.5m▼ 12.1%€0.4m▼ 15.8%€0.4m▼ 20.2%
Working capital-€1.0m--€0.9m▲ 10.3%-€0.8mbelow the sector's middle half▲ 12.8%-€0.7mbelow the sector's middle half▲ 15.1%-€0.5mbelow the sector's middle half▲ 18.2%-€0.4mbelow the sector's middle half▲ 25.5%-€0.3mbelow the sector's middle half▲ 35.9%-€0.1mbelow the sector's middle half▲ 55.1%
Solvency62.5%-66.9%▲ 4.4pp70.1%within the sector's middle half▲ 3.2pp74.5%within the sector's middle half▲ 4.3pp79.6%above the sector's middle half▲ 5.2pp82.5%above the sector's middle half▲ 2.9pp85.6%above the sector's middle half▲ 3.1pp88.7%above the sector's middle half▲ 3.1pp
Current ratio0.11-0.08▼ 0.030.12below the sector's middle half▲ 0.040.12below the sector's middle half=0.09below the sector's middle half▼ 0.030.23below the sector's middle half▲ 0.140.41below the sector's middle half▲ 0.180.67below the sector's middle half▲ 0.26
Return on assets (ROA)3.2%-3.3%▲ 0.1pp3.7%within the sector's middle half▲ 0.4pp4.0%within the sector's middle half▲ 0.3pp4.2%within the sector's middle half▲ 0.2pp4.7%within the sector's middle half▲ 0.6pp4.8%within the sector's middle half=4.5%within the sector's middle half▼ 0.2pp
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 3% 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.1m
Fixed assets
€2.9m ▼ 0.1%
Current assets
€234,695 ▲ 29.5%
Equity and liabilities €3.1m
Equity
€2.8m ▲ 5.4%
Debt
€350,943 ▼ 20.2%
Debt's share of the balance-sheet total falls from 14.4% to 11.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€190,172▼
2024 · €195,378
Cash flow
€142,475▼
2024 · €146,379
Debt to equity
0.13▼
2024 · 0.17
ROE
5.1%▼
2024 · 5.6%
Debt ≤ 1 year
€350,943▼
2024 · €439,887
Income taxes
€47,698▼
2024 · €48,999
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €680 | €3,917 | €1,237 | - |
| Depreciation and write-downs of the year | €69 | €164 | €749 | €1,291 | €1,582 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,793 | €4,793 | €4,831 | €69 | €164 | €749 | €1,291 | €1,582 | ▲ 22.6% |
| Other operating charges640/8 | - | - | - | €1,020 | €1,022 | €1,128 | €1,144 | €1,181 | ▲ 3.2% |
| Gross operating margin9900 | €143,020 | €146,930 | €155,230 | €158,365 | €163,474 | €190,539 | €196,522 | €191,353 | ▼ 2.6% |
| Operating profit (loss)9901 | €137,213 | €141,122 | €149,343 | €157,275 | €162,288 | €188,663 | €194,087 | €188,590 | ▼ 2.8% |
| Financial income75/76B | - | - | - | - | - | €1 | - | - | - |
| Recurring financial income75 | - | - | - | - | - | €1 | - | - | - |
| Recurring financial charges65 | €36 | €36 | - | - | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €137,177 | €141,086 | €149,343 | €157,275 | €162,288 | €188,663 | €194,087 | €188,590 | ▼ 2.8% |
| Income taxes67/77 | €40,000 | €42,924 | €39,331 | €39,568 | €40,879 | €47,613 | €48,999 | €47,698 | ▼ 2.7% |
| Profit (loss) for the period9904 | €97,178 | €98,161 | €110,012 | €117,707 | €121,409 | €141,050 | €145,088 | €140,893 | ▼ 2.9% |
| Profit (loss) for the period to be appropriated9905 | €97,178 | €98,161 | €110,012 | €117,707 | €121,409 | €141,050 | €145,088 | €140,893 | ▼ 2.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.0m | €3.0m | €3.0m | €3.0m | €2.9m | €3.0m | €3.1m | €3.1m | ▲ 1.7% |
| Fixed assets21/28 | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | ▼ 0.1% |
| Tangible fixed assets22/27 | €0.01m | €0.005m | €240 | €171 | €0.001m | €0.004m | €0.004m | €0.002m | ▼ 41.6% |
| Furniture and vehicles24 | - | - | - | €171 | €0.001m | €0.004m | €0.004m | €0.002m | ▼ 41.6% |
| Financial fixed assets28 | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | = |
| Current assets29/58 | €0.1m | €0.08m | €0.1m | €0.09m | €0.05m | €0.1m | €0.2m | €0.2m | ▲ 29.5% |
| Amounts receivable within one year40/41 | €0.005m | €0.005m | €0.002m | €0.002m | €432 | - | €0.001m | €0.003m | ▲ 230% |
| Other amounts receivable41 | - | - | - | €0.002m | €432 | - | €0.001m | €0.003m | ▲ 230% |
| Cash at bank and in hand54/58 | €0.1m | €0.08m | €0.1m | €0.09m | €0.05m | €0.1m | €0.2m | €0.2m | ▲ 26.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.003m | €0.004m | €0.02m | €0.02m | ▲ 51.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.0m | €3.0m | €3.0m | €3.0m | €2.9m | €3.0m | €3.1m | €3.1m | ▲ 1.7% |
| Equity10/15 | €1.9m | €2.0m | €2.1m | €2.2m | €2.3m | €2.5m | €2.6m | €2.8m | ▲ 5.4% |
| Contributions10/11 | €1.3m | €1.3m | - | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Reserves13 | €0.03m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Non-distributable reserves130/1 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Reserves not available under the articles1311 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Profit (loss) carried forward14 | €0.5m | €0.6m | €0.7m | €0.8m | €1.0m | €1.1m | €1.2m | €1.4m | ▲ 11.3% |
| Amounts payable17/49 | €1.1m | €1.0m | €0.9m | €0.8m | €0.6m | €0.5m | €0.4m | €0.4m | ▼ 20.2% |
| Amounts payable within one year42/48 | €1.1m | €1.0m | €0.9m | €0.8m | €0.6m | €0.5m | €0.4m | €0.4m | ▼ 20.2% |
| Trade debts44 | €81 | €71 | €80 | €82 | €84 | €139 | €229 | - | - |
| Suppliers440/4 | - | - | - | €82 | €84 | €139 | €229 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.01m | €0.02m | €0.02m | €0.01m | ▼ 33.1% |
| Taxes450/3 | - | - | - | €0.01m | €0.01m | €0.02m | €0.02m | €0.01m | ▼ 33.1% |
| Other amounts payable47/48 | - | - | - | €0.7m | €0.6m | €0.5m | €0.4m | €0.3m | ▼ 19.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €97,178 | €98,161 | €110,012 | €117,707 | €121,409 | €141,050 | €145,088 | €140,893 | ▼ 2.9% |
| + Depreciation and write-downs630 | €4,793 | €4,793 | €4,831 | €69 | €164 | €749 | €1,291 | €1,582 | ▲ 22.6% |
| Operating cash flow (approximation) | €101,971 | €102,954 | €114,843 | €117,777 | €121,573 | €141,799 | €146,379 | €142,475 | ▼ 2.7% |
| Investment in fixed assets (approximation) | - | €0 | -€278 | €0 | -€680 | -€3,917 | -€1,237 | €0 | - |
| Change in cash | - | -€43,715 | €27,002 | -€15,847 | -€38,551 | €66,438 | €50,193 | €43,406 | ▼ 13.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-06-2026 | 2026-00224205 | |
| 31-12-2024 | micro format | 24-06-2025 | 2025-00168519 | |
| 31-12-2023 | micro format | 21-06-2024 | 2024-00150618 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00181978 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20111323 | |
| 31-12-2020 | micro format | 25-06-2021 | 2021-25800540 | |
| 31-12-2019 | micro format | 03-07-2020 | 2020-25100326 | |
| 31-12-2018 | micro format | 23-07-2019 | 2019-35900113 | |
| 31-12-2017 | micro format | 04-07-2018 | 2018-29000385 | |
| 31-12-2016 | micro format | 23-08-2017 | 2017-47900341 |