IMMO PHICON: 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.
What changed
IMMO PHICON
NACE 68.321, Property management for co-owned buildings (syndics)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1,834
2024 · -€35,744+€33,910
Equity
€524,227
2024 · €526,061-€1,834
Cash
€14,672
2024 · €4,851+€9,821
Balance sheet total
€1.2m
2024 · €1.2m-€28,414
Largest movements
Assets
- Tangible fixed assets -€39,472
down €39,472 (-3.3%), from €1.2m to €1.1m
Equity and liabilities
- Debts after one year -€73,580
down €73,580 (-17.0%), from €431,601 to €358,021
of which Financial debts: -€79,830
- Other debts +€34,695
up €34,695 (+32.7%), from €106,034 to €140,729
Income statement
- Gross operating margin +€74,768
up €74,768 (+40.1%), from €186,448 to €261,216
- Staff costs +€39,933
up €39,933 (+38.7%), from €103,309 to €143,242
- Depreciation -€3,713
down €3,713 (-5.3%), from €69,540 to €65,828
- Financial charges +€3,318
up €3,318 (+11.4%), from €29,089 to €32,408
From the 2024 result to the 2025 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.
Result 2024
-€35,744
Gross operating margin
+€74,768
Staff costs
-€39,933
Depreciation
+€3,713
Other operating charges
-€1,105
Financial income
-€247
Financial charges
-€3,318
Taxes
+€32
Result 2025
-€1,834
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€99,946
Investment
-€26,356
Financing
-€63,770
Cash 2024
€4,851
From operations (derived)
+€99,946
Net result for the year
-€1,834
Depreciation
+€65,828
Receivables within one year
-€690
Deferred charges and accrued income
-€547
Trade debts
-€1,784
Tax, wage and social debts
+€3,902
Other debts
+€34,695
Accrued charges and deferred income
+€376
Investment (derived)
-€26,356
Investment in fixed assets (net)
-€26,356
Financing
-€63,770
Debts after one year
-€73,580
Current portion of long-term debt
+€9,810
Cash 2025
€14,672
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,202,533 | €1,174,118 | -€28,414 | -2.4% |
| Fixed assets | 21/28 | €1,182,597 | €1,143,125 | -€39,472 | -3.3% |
| Tangible fixed assets | 22/27 | €1,182,597 | €1,143,125 | -€39,472 | -3.3% |
| Land and buildings | 22 | €1,182,597 | €1,143,125 | -€39,472 | -3.3% |
| Current assets | 29/58 | €19,936 | €30,993 | +€11,058 | +55.5% |
| Amounts receivable within one year | 40/41 | €11,521 | €12,212 | +€690 | +6.0% |
| Trade receivables | 40 | €11,136 | €11,992 | +€856 | +7.7% |
| Other amounts receivable | 41 | €385 | €220 | -€166 | -43.0% |
| Cash at bank and in hand | 54/58 | €4,851 | €14,672 | +€9,821 | +202.4% |
| Deferred charges and accrued income | 490/1 | €3,563 | €4,110 | +€547 | +15.3% |
| Total equity and liabilities | 10/49 | €1,202,533 | €1,174,118 | -€28,414 | -2.4% |
| Equity | 10/15 | €526,061 | €524,227 | -€1,834 | -0.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Revaluation surpluses | 12 | €46,183 | €46,183 | = | 0.0% |
| Reserves | 13 | €461,327 | €459,493 | -€1,834 | -0.4% |
| Distributable reserves | 133 | €461,327 | €459,493 | -€1,834 | -0.4% |
| Amounts payable | 17/49 | €676,472 | €649,891 | -€26,581 | -3.9% |
| Amounts payable after more than one year | 17 | €431,601 | €358,021 | -€73,580 | -17.0% |
| Financial debts | 170/4 | €350,266 | €270,436 | -€79,830 | -22.8% |
| Other amounts payable | 178/9 | €81,335 | €87,585 | +€6,250 | +7.7% |
| Amounts payable within one year | 42/48 | €234,829 | €281,453 | +€46,623 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €92,380 | €102,190 | +€9,810 | +10.6% |
| Trade debts | 44 | €6,849 | €5,065 | -€1,784 | -26.1% |
| Suppliers | 440/4 | €6,849 | €5,065 | -€1,784 | -26.1% |
| Taxes, remuneration and social security | 45 | €29,566 | €33,468 | +€3,902 | +13.2% |
| Taxes | 450/3 | €816 | €2,453 | +€1,637 | +200.8% |
| Remuneration and social security | 454/9 | €28,751 | €31,015 | +€2,265 | +7.9% |
| Other amounts payable | 47/48 | €106,034 | €140,729 | +€34,695 | +32.7% |
| Accrued charges and deferred income | 492/3 | €10,041 | €10,418 | +€376 | +3.7% |
| Remuneration, social security and pensions | 62 | €103,309 | €143,242 | +€39,933 | +38.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,540 | €65,828 | -€3,713 | -5.3% |
| Other operating charges | 640/8 | €19,938 | €21,043 | +€1,105 | +5.5% |
| Gross operating margin | 9900 | €186,448 | €261,216 | +€74,768 | +40.1% |
| Operating profit (loss) | 9901 | -€6,339 | €31,104 | +€37,443 | |
| Financial income | 75/76B | €247 | €0 | -€247 | -100.0% |
| Recurring financial income | 75 | €247 | €0 | -€247 | -100.0% |
| Financial charges | 65/66B | €29,089 | €32,408 | +€3,318 | +11.4% |
| Recurring financial charges | 65 | €29,089 | €32,408 | +€3,318 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | -€35,181 | -€1,304 | +€33,878 | +96.3% |
| Income taxes | 67/77 | €562 | €530 | -€32 | -5.7% |
| Profit (loss) for the period | 9904 | -€35,744 | -€1,834 | +€33,910 | +94.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,744 | -€1,834 | +€33,910 | +94.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.