P.H.P.: what changed
P.H.P.
Largest movements
- Receivables within one year -€171,897
down €171,897 (-48.6%), from €353,428 to €181,531
of which Trade receivables: -€169,729
- Tangible fixed assets -€18,082
down €18,082 (-37.7%), from €47,921 to €29,840
of which Furniture and vehicles: -€16,434
- Cash -€8,506
down €8,506 (-66.5%), from €12,794 to €4,288
mainly Other debts (-€153,925) and Net result for the year (-€40,060)
- Other debts -€153,925
down €153,925 (-82.9%), from €185,712 to €31,786
- Profit (loss) carried forward -€40,054
down €40,054 (-559%), from -€7,169 to -€47,223
- Current portion of long-term debt -€9,180
down €9,180 (-67.5%), from €13,591 to €4,411
- Trade debts +€8,567
up €8,567 (+4.4%), from €194,742 to €203,309
- Debts after one year -€4,411
down €4,411 (-25.5%), from €17,317 to €12,906
- Staff costs +€8,377
up €8,377, from -€191 to €8,186
- Gross operating margin +€4,828
up €4,828 (+24.0%), from -€20,143 to -€15,315
- Depreciation +€2,104
up €2,104 (+14.2%), from €14,772 to €16,876
- Financial charges -€621
down €621 (-20.4%), from €3,046 to €2,424
of which Financial charges: -€1,620
- Other operating charges -€553
down €553 (-39.5%), from €1,402 to €849
Change in the result, 2025 to 2026
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 2025 and 2026 balance sheets and the 2026 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 | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €414,240 | €216,499 | -€197,741 | -47.7% |
| Fixed assets | 21/28 | €47,997 | €29,915 | -€18,082 | -37.7% |
| Tangible fixed assets | 22/27 | €47,921 | €29,840 | -€18,082 | -37.7% |
| Plant, machinery and equipment | 23 | €4,680 | €3,032 | -€1,648 | -35.2% |
| Furniture and vehicles | 24 | €43,241 | €26,807 | -€16,434 | -38.0% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €366,244 | €186,584 | -€179,660 | -49.1% |
| Amounts receivable within one year | 40/41 | €353,428 | €181,531 | -€171,897 | -48.6% |
| Trade receivables | 40 | €175,275 | €5,546 | -€169,729 | -96.8% |
| Other amounts receivable | 41 | €178,153 | €175,985 | -€2,168 | -1.2% |
| Cash at bank and in hand | 54/58 | €12,794 | €4,288 | -€8,506 | -66.5% |
| Deferred charges and accrued income | 490/1 | €21 | €765 | +€744 | +3,499% |
| Total equity and liabilities | 10/49 | €414,240 | €216,499 | -€197,741 | -47.7% |
| Equity | 10/15 | €891 | -€39,163 | -€40,054 | |
| 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 | -€7,169 | -€47,223 | -€40,054 | -559% |
| Amounts payable | 17/49 | €413,349 | €255,662 | -€157,687 | -38.1% |
| Amounts payable after more than one year | 17 | €17,317 | €12,906 | -€4,411 | -25.5% |
| Financial debts | 170/4 | €17,317 | €12,906 | -€4,411 | -25.5% |
| Amounts payable within one year | 42/48 | €395,045 | €240,568 | -€154,476 | -39.1% |
| Current portion of amounts payable after more than one year | 42 | €13,591 | €4,411 | -€9,180 | -67.5% |
| Trade debts | 44 | €194,742 | €203,309 | +€8,567 | +4.4% |
| Suppliers | 440/4 | €194,742 | €203,309 | +€8,567 | +4.4% |
| Taxes, remuneration and social security | 45 | €1,000 | €1,062 | +€62 | +6.2% |
| Taxes | 450/3 | €0 | €62 | +€62 | |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €185,712 | €31,786 | -€153,925 | -82.9% |
| Accrued charges and deferred income | 492/3 | €988 | €2,188 | +€1,200 | +121% |
| Remuneration, social security and pensions | 62 | -€191 | €8,186 | +€8,377 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,772 | €16,876 | +€2,104 | +14.2% |
| Other operating charges | 640/8 | €1,402 | €849 | -€553 | -39.5% |
| Gross operating margin | 9900 | -€20,143 | -€15,315 | +€4,828 | +24.0% |
| Operating profit (loss) | 9901 | -€36,126 | -€41,226 | -€5,100 | -14.1% |
| Financial income | 75/76B | €3,186 | €3,590 | +€404 | +12.7% |
| Recurring financial income | 75 | €3,186 | €3,383 | +€197 | +6.2% |
| Non-recurring financial income | 76B | - | €207 | +€207 | |
| Financial charges | 65/66B | €3,046 | €2,424 | -€621 | -20.4% |
| Recurring financial charges | 65 | €3,046 | €1,425 | -€1,620 | -53.2% |
| Non-recurring financial charges | 66B | - | €999 | +€999 | |
| Profit (loss) for the period before taxes | 9903 | -€35,985 | -€40,060 | -€4,075 | -11.3% |
| Income taxes | 67/77 | -€24 | €0 | +€24 | |
| Profit (loss) for the period | 9904 | -€35,961 | -€40,060 | -€4,099 | -11.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,961 | -€40,060 | -€4,099 | -11.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.