GENPHAS: what changed
Two fiscal 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.
GENPHAS
Largest movements
- Receivables within one year -€159,494
down €159,494 (-82.4%), from €193,661 to €34,167
of which Trade receivables: -€158,435
- Financial fixed assets +€61,989
up €61,989 (+41.9%), from €147,806 to €209,795
- Cash +€35,803
up €35,803 (+11.4%), from €314,626 to €350,429
mainly Receivables within one year (+€159,494) and Net result for the year (+€20,282)
- Tax, wage and social debts -€49,094
down €49,094 (-80.6%), from €60,920 to €11,826
- Reserves -€14,800
down €14,800 (-2.6%), from €574,240 to €559,440
- Trade debts -€10,677
down €10,677 (-70.1%), from €15,236 to €4,559
- Other debts +€10,109
up €10,109 (+40.6%), from €24,891 to €35,000
- Gross operating margin -€97,495
down €97,495 (-51.1%), from €190,664 to €93,169
- Financial charges +€37,031
up €37,031 (+536.5%), from €6,903 to €43,934
of which Non-recurring financial charges: +€37,738
- Taxes -€36,638
down €36,638 (-62.8%), from €58,296 to €21,658
- Depreciation +€4,017
up €4,017 (+83.1%), from €4,833 to €8,850
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.
Cash bridge derived
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 | €682,634 | €618,253 | -€64,380 | -9.4% |
| Fixed assets | 21/28 | €154,345 | €216,987 | +€62,641 | +40.6% |
| Tangible fixed assets | 22/27 | €6,539 | €7,191 | +€652 | +10.0% |
| Plant, machinery and equipment | 23 | €350 | €0 | -€350 | -100.0% |
| Furniture and vehicles | 24 | €6,189 | €7,191 | +€1,002 | +16.2% |
| Financial fixed assets | 28 | €147,806 | €209,795 | +€61,989 | +41.9% |
| Current assets | 29/58 | €528,288 | €401,267 | -€127,022 | -24.0% |
| Amounts receivable after more than one year | 29 | €3,621 | €5,003 | +€1,382 | +38.2% |
| Other amounts receivable | 291 | €3,621 | €5,003 | +€1,382 | +38.2% |
| Amounts receivable within one year | 40/41 | €193,661 | €34,167 | -€159,494 | -82.4% |
| Trade receivables | 40 | €188,171 | €29,735 | -€158,435 | -84.2% |
| Other amounts receivable | 41 | €5,490 | €4,432 | -€1,058 | -19.3% |
| Current investments | 50/53 | €15,074 | €10,069 | -€5,005 | -33.2% |
| Cash at bank and in hand | 54/58 | €314,626 | €350,429 | +€35,803 | +11.4% |
| Deferred charges and accrued income | 490/1 | €1,307 | €1,599 | +€292 | +22.3% |
| Total equity and liabilities | 10/49 | €682,634 | €618,253 | -€64,380 | -9.4% |
| Equity | 10/15 | €581,586 | €566,868 | -€14,718 | -2.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €574,240 | €559,440 | -€14,800 | -2.6% |
| Distributable reserves | 133 | €574,240 | €559,440 | -€14,800 | -2.6% |
| Profit (loss) carried forward | 14 | €1,146 | €1,228 | +€82 | +7.2% |
| Amounts payable | 17/49 | €101,048 | €51,385 | -€49,662 | -49.1% |
| Amounts payable within one year | 42/48 | €101,048 | €51,385 | -€49,662 | -49.1% |
| Trade debts | 44 | €15,236 | €4,559 | -€10,677 | -70.1% |
| Suppliers | 440/4 | €15,236 | €4,559 | -€10,677 | -70.1% |
| Taxes, remuneration and social security | 45 | €60,920 | €11,826 | -€49,094 | -80.6% |
| Taxes | 450/3 | €60,920 | €11,826 | -€49,094 | -80.6% |
| Other amounts payable | 47/48 | €24,891 | €35,000 | +€10,109 | +40.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,833 | €8,850 | +€4,017 | +83.1% |
| Other operating charges | 640/8 | €1,402 | €930 | -€472 | -33.7% |
| Gross operating margin | 9900 | €190,664 | €93,169 | -€97,495 | -51.1% |
| Operating profit (loss) | 9901 | €184,429 | €83,390 | -€101,039 | -54.8% |
| Financial income | 75/76B | €3,653 | €2,485 | -€1,168 | -32.0% |
| Recurring financial income | 75 | €3,653 | €2,485 | -€1,168 | -32.0% |
| Financial charges | 65/66B | €6,903 | €43,934 | +€37,031 | +536.5% |
| Recurring financial charges | 65 | €1,703 | €996 | -€707 | -41.5% |
| Non-recurring financial charges | 66B | €5,200 | €42,938 | +€37,738 | +725.7% |
| Profit (loss) for the period before taxes | 9903 | €181,179 | €41,940 | -€139,239 | -76.9% |
| Income taxes | 67/77 | €58,296 | €21,658 | -€36,638 | -62.8% |
| Profit (loss) for the period | 9904 | €122,883 | €20,282 | -€102,601 | -83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €122,883 | €20,282 | -€102,601 | -83.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.