Management PhE: 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.
Management PhE
Largest movements
- Cash -€390
down €390 (-32.4%), from €1,205 to €815
mainly Net result for the year (-€1,346) and Receivables within one year (-€188)
- Profit (loss) carried forward -€1,346
down €1,346 (-13.9%), from -€9,697 to -€11,042
- Trade debts +€1,027
up €1,027 (+209.5%), from €490 to €1,517
- Gross operating margin +€4,003
up €4,003 (+77.2%), from -€5,182 to -€1,179
- Other operating charges +€575
up €575 (+108.9%), from €528 to €1,103
- Financial income +€237
up €237 (+27.0%), from €877 to €1,114
- Taxes +€58
up €58 (+108.0%), from €53 to €111
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,966 | €24,791 | -€175 | -0.7% |
| Fixed assets | 21/28 | €930 | €930 | = | 0.0% |
| Financial fixed assets | 28 | €930 | €930 | = | 0.0% |
| Current assets | 29/58 | €24,036 | €23,861 | -€175 | -0.7% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,299 | €2,487 | +€188 | +8.2% |
| Trade receivables | 40 | - | €1,181 | +€1,181 | |
| Other amounts receivable | 41 | €2,299 | €1,306 | -€993 | -43.2% |
| Cash at bank and in hand | 54/58 | €1,205 | €815 | -€390 | -32.4% |
| Deferred charges and accrued income | 490/1 | €532 | €559 | +€27 | +5.1% |
| Total equity and liabilities | 10/49 | €24,966 | €24,791 | -€175 | -0.7% |
| Equity | 10/15 | €24,136 | €22,790 | -€1,346 | -5.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €21,432 | €21,432 | = | 0.0% |
| Distributable reserves | 133 | €21,432 | €21,432 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,697 | -€11,042 | -€1,346 | -13.9% |
| Amounts payable | 17/49 | €831 | €2,001 | +€1,170 | +140.9% |
| Amounts payable within one year | 42/48 | €831 | €2,001 | +€1,170 | +140.9% |
| Trade debts | 44 | €490 | €1,517 | +€1,027 | +209.5% |
| Suppliers | 440/4 | €490 | €1,517 | +€1,027 | +209.5% |
| Taxes, remuneration and social security | 45 | €53 | €111 | +€58 | +108.0% |
| Taxes | 450/3 | €53 | €111 | +€58 | +108.0% |
| Other amounts payable | 47/48 | €287 | €373 | +€86 | +29.9% |
| Other operating charges | 640/8 | €528 | €1,103 | +€575 | +108.9% |
| Gross operating margin | 9900 | -€5,182 | -€1,179 | +€4,003 | +77.2% |
| Operating profit (loss) | 9901 | -€5,710 | -€2,282 | +€3,428 | +60.0% |
| Financial income | 75/76B | €877 | €1,114 | +€237 | +27.0% |
| Recurring financial income | 75 | €877 | €1,114 | +€237 | +27.0% |
| Financial charges | 65/66B | €74 | €67 | -€7 | -9.2% |
| Recurring financial charges | 65 | €74 | €67 | -€7 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,907 | -€1,235 | +€3,672 | +74.8% |
| Income taxes | 67/77 | €53 | €111 | +€58 | +108.0% |
| Profit (loss) for the period | 9904 | -€4,960 | -€1,346 | +€3,614 | +72.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,960 | -€1,346 | +€3,614 | +72.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.