P.H.L. +: what changed
Two financial 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.
P.H.L. +
Largest movements
- Receivables within one year -€393
no longer reported in 2025 (was €393)
- Cash +€81
up €81 (+77.9%), from €104 to €185
mainly Other debts (+€797) and Receivables within one year (+€393)
- Profit (loss) carried forward -€1,109
down €1,109 (-4.3%), from -€25,671 to -€26,780
- Other debts +€797
up €797 (+10.5%), from €7,568 to €8,365
- Gross operating margin -€480
down €480 (-82.2%), from -€584 to -€1,064
- Financial charges -€73
down €73 (-61.9%), from €118 to €45
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.
Derived cash bridge
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 | €497 | €185 | -€312 | -62.8% |
| Current assets | 29/58 | €497 | €185 | -€312 | -62.8% |
| Amounts receivable within one year | 40/41 | €393 | - | -€393 | |
| Other amounts receivable | 41 | €393 | - | -€393 | |
| Cash at bank and in hand | 54/58 | €104 | €185 | +€81 | +77.9% |
| Total equity and liabilities | 10/49 | €497 | €185 | -€312 | -62.8% |
| Equity | 10/15 | -€7,071 | -€8,180 | -€1,109 | -15.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,671 | -€26,780 | -€1,109 | -4.3% |
| Amounts payable | 17/49 | €7,568 | €8,365 | +€797 | +10.5% |
| Amounts payable within one year | 42/48 | €7,568 | €8,365 | +€797 | +10.5% |
| Other amounts payable | 47/48 | €7,568 | €8,365 | +€797 | +10.5% |
| Gross operating margin | 9900 | -€584 | -€1,064 | -€480 | -82.2% |
| Operating profit (loss) | 9901 | -€584 | -€1,064 | -€480 | -82.2% |
| Financial charges | 65/66B | €118 | €45 | -€73 | -61.9% |
| Recurring financial charges | 65 | €118 | €45 | -€73 | -61.9% |
| Profit (loss) for the period before taxes | 9903 | -€702 | -€1,109 | -€407 | -58.0% |
| Profit (loss) for the period | 9904 | -€702 | -€1,109 | -€407 | -58.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€702 | -€1,109 | -€407 | -58.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.