Ground Phoenix: what changed
Ground Phoenix
Largest movements
- Stocks and contracts -€183,970
no longer reported in 2025 (was €183,970)
- Receivables within one year +€38,984
new in 2025: €38,984
- Cash -€7,852
down €7,852 (-99.8%), from €7,865 to €13
mainly Short-term financial debts (-€126,000) and Receivables within one year (-€38,984)
- Short-term financial debts -€126,000
no longer reported in 2025 (was €126,000)
- Other debts -€24,514
no longer reported in 2025 (was €24,514)
- Reserves -€4,380
down €4,380 (-20.5%), from €21,395 to €17,015
- Gross operating margin -€348,796
down €348,796 (-99.4%), from €351,028 to €2,233
- Other operating charges -€253,885
down €253,885 (-99.4%), from €255,400 to €1,515
- Financial charges -€64,665
down €64,665 (-93.9%), from €68,896 to €4,230
- Taxes -€3,970
down €3,970 (-74.4%), from €5,338 to €1,368
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €191,835 | €38,997 | -€152,839 | -79.7% |
| Current assets | 29/58 | €191,835 | €38,997 | -€152,839 | -79.7% |
| Stocks and contracts in progress | 3 | €183,970 | - | -€183,970 | |
| Stocks | 30/36 | €183,970 | - | -€183,970 | |
| Amounts receivable within one year | 40/41 | - | €38,984 | +€38,984 | |
| Other amounts receivable | 41 | - | €38,984 | +€38,984 | |
| Cash at bank and in hand | 54/58 | €7,865 | €13 | -€7,852 | -99.8% |
| Total equity and liabilities | 10/49 | €191,835 | €38,997 | -€152,839 | -79.7% |
| Equity | 10/15 | €31,395 | €27,015 | -€4,380 | -14.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €21,395 | €17,015 | -€4,380 | -20.5% |
| Distributable reserves | 133 | €21,395 | €17,015 | -€4,380 | -20.5% |
| Amounts payable | 17/49 | €160,441 | €11,982 | -€148,459 | -92.5% |
| Amounts payable within one year | 42/48 | €160,441 | €11,982 | -€148,459 | -92.5% |
| Financial debts | 43 | €126,000 | - | -€126,000 | |
| Credit institutions | 430/8 | €126,000 | - | -€126,000 | |
| Trade debts | 44 | €839 | €1,526 | +€687 | +81.9% |
| Suppliers | 440/4 | €839 | €1,526 | +€687 | +81.9% |
| Taxes, remuneration and social security | 45 | €9,088 | €10,456 | +€1,368 | +15.0% |
| Taxes | 450/3 | €9,088 | €10,456 | +€1,368 | +15.0% |
| Other amounts payable | 47/48 | €24,514 | - | -€24,514 | |
| Other operating charges | 640/8 | €255,400 | €1,515 | -€253,885 | -99.4% |
| Gross operating margin | 9900 | €351,028 | €2,233 | -€348,796 | -99.4% |
| Operating profit (loss) | 9901 | €95,628 | €718 | -€94,911 | -99.2% |
| Financial income | 75/76B | €0 | €500 | +€500 | +5,001,600% |
| Recurring financial income | 75 | €0 | €500 | +€500 | +5,001,600% |
| Financial charges | 65/66B | €68,896 | €4,230 | -€64,665 | -93.9% |
| Recurring financial charges | 65 | €68,896 | €4,230 | -€64,665 | -93.9% |
| Profit (loss) for the period before taxes | 9903 | €26,733 | -€3,012 | -€29,745 | |
| Income taxes | 67/77 | €5,338 | €1,368 | -€3,970 | -74.4% |
| Profit (loss) for the period | 9904 | €21,395 | -€4,380 | -€25,775 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,395 | -€4,380 | -€25,775 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.