P H M C: 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 M C
Largest movements
- Receivables within one year +€11,173
up €11,173 (+18.8%), from €59,468 to €70,641
of which Trade receivables: +€20,000
- Cash -€1,071
down €1,071 (-99.3%), from €1,079 to €7
mainly Receivables within one year (-€11,173)
- Deferred charges and accrued income -€748
down €748 (-17.8%), from €4,202 to €3,453
- Profit (loss) carried forward +€6,867
up €6,867 (+13.3%), from €51,622 to €58,489
- Trade debts +€1,918
up €1,918 (+36.5%), from €5,250 to €7,168
- Gross operating margin +€22,694
up €22,694, from -€15,985 to €6,710
- Financial income -€948
down €948 (-23.8%), from €3,988 to €3,041
- Financial charges -€666
down €666 (-25.0%), from €2,668 to €2,002
- Other operating charges -€326
down €326 (-59.4%), from €550 to €223
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 | €65,664 | €74,712 | +€9,048 | +13.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €916 | €611 | -€305 | -33.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €916 | €611 | -€305 | -33.3% |
| Furniture and vehicles | 24 | €916 | €611 | -€305 | -33.3% |
| Current assets | 29/58 | €64,748 | €74,101 | +€9,353 | +14.4% |
| Amounts receivable within one year | 40/41 | €59,468 | €70,641 | +€11,173 | +18.8% |
| Trade receivables | 40 | - | €20,000 | +€20,000 | |
| Other amounts receivable | 41 | €59,468 | €50,641 | -€8,827 | -14.8% |
| Cash at bank and in hand | 54/58 | €1,079 | €7 | -€1,071 | -99.3% |
| Deferred charges and accrued income | 490/1 | €4,202 | €3,453 | -€748 | -17.8% |
| Total equity and liabilities | 10/49 | €65,664 | €74,712 | +€9,048 | +13.8% |
| Equity | 10/15 | €59,682 | €66,549 | +€6,867 | +11.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,622 | €58,489 | +€6,867 | +13.3% |
| Amounts payable | 17/49 | €5,982 | €8,163 | +€2,181 | +36.5% |
| Amounts payable within one year | 42/48 | €5,982 | €8,163 | +€2,181 | +36.5% |
| Financial debts | 43 | - | €257 | +€257 | |
| Credit institutions | 430/8 | - | €257 | +€257 | |
| Trade debts | 44 | €5,250 | €7,168 | +€1,918 | +36.5% |
| Suppliers | 440/4 | €5,250 | €7,168 | +€1,918 | +36.5% |
| Taxes, remuneration and social security | 45 | €733 | €738 | +€5 | +0.7% |
| Taxes | 450/3 | €733 | €738 | +€5 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €305 | €305 | = | 0.0% |
| Other operating charges | 640/8 | €550 | €223 | -€326 | -59.4% |
| Gross operating margin | 9900 | -€15,985 | €6,710 | +€22,694 | |
| Operating profit (loss) | 9901 | -€16,840 | €6,181 | +€23,020 | |
| Financial income | 75/76B | €3,988 | €3,041 | -€948 | -23.8% |
| Recurring financial income | 75 | €3,988 | €3,041 | -€948 | -23.8% |
| Financial charges | 65/66B | €2,668 | €2,002 | -€666 | -25.0% |
| Recurring financial charges | 65 | €2,668 | €2,002 | -€666 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,520 | €7,219 | +€22,739 | |
| Income taxes | 67/77 | €349 | €352 | +€3 | +1.0% |
| Profit (loss) for the period | 9904 | -€15,868 | €6,867 | +€22,735 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,868 | €6,867 | +€22,735 |
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 26 October 2026 via checked.be.