P.H.R.: 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.
P.H.R.
Largest movements
- Cash +€10,320
up €10,320 (+95.2%), from €10,843 to €21,163
mainly Receivables within one year (+€6,402) and Accrued charges and deferred income (+€2,565)
- Receivables within one year -€6,402
down €6,402 (-92.3%), from €6,935 to €533
of which Trade receivables: -€3,264
- Tangible fixed assets -€955
down €955 (-76.0%), from €1,257 to €302
- Deferred charges and accrued income +€491
up €491 (+38.5%), from €1,276 to €1,767
- Accrued charges and deferred income +€2,565
new in 2025: €2,565
- Tax, wage and social debts +€1,593
up €1,593 (+25.6%), from €6,216 to €7,809
of which Remuneration and social security: +€1,296
- Trade debts -€954
down €954 (-63.3%), from €1,506 to €552
- Profit (loss) carried forward +€250
up €250 (+4.0%), from €6,195 to €6,445
- Gross operating margin +€6,764
up €6,764, from -€858 to €5,906
- Other operating charges +€1,849
up €1,849 (+169.5%), from €1,091 to €2,940
- Taxes -€1,241
down €1,241 (-62.4%), from €1,989 to €748
- Depreciation -€417
down €417 (-30.4%), from €1,372 to €955
- Financial income -€182
down €182 (-97.8%), from €186 to €4
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 | €20,809 | €24,263 | +€3,454 | +16.6% |
| Fixed assets | 21/28 | €1,755 | €800 | -€955 | -54.4% |
| Tangible fixed assets | 22/27 | €1,257 | €302 | -€955 | -76.0% |
| Furniture and vehicles | 24 | €1,257 | €302 | -€955 | -76.0% |
| Financial fixed assets | 28 | €498 | €498 | = | 0.0% |
| Current assets | 29/58 | €19,054 | €23,463 | +€4,409 | +23.1% |
| Amounts receivable within one year | 40/41 | €6,935 | €533 | -€6,402 | -92.3% |
| Trade receivables | 40 | €3,780 | €516 | -€3,264 | -86.3% |
| Other amounts receivable | 41 | €3,155 | €17 | -€3,138 | -99.5% |
| Cash at bank and in hand | 54/58 | €10,843 | €21,163 | +€10,320 | +95.2% |
| Deferred charges and accrued income | 490/1 | €1,276 | €1,767 | +€491 | +38.5% |
| Total equity and liabilities | 10/49 | €20,809 | €24,263 | +€3,454 | +16.6% |
| Equity | 10/15 | €13,087 | €13,337 | +€250 | +1.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €695 | €695 | = | 0.0% |
| Distributable reserves | 133 | €695 | €695 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,195 | €6,445 | +€250 | +4.0% |
| Amounts payable | 17/49 | €7,722 | €10,926 | +€3,204 | +41.5% |
| Amounts payable within one year | 42/48 | €7,722 | €8,361 | +€639 | +8.3% |
| Trade debts | 44 | €1,506 | €552 | -€954 | -63.3% |
| Suppliers | 440/4 | €1,506 | €552 | -€954 | -63.3% |
| Taxes, remuneration and social security | 45 | €6,216 | €7,809 | +€1,593 | +25.6% |
| Taxes | 450/3 | €6,216 | €6,513 | +€297 | +4.8% |
| Remuneration and social security | 454/9 | - | €1,296 | +€1,296 | |
| Accrued charges and deferred income | 492/3 | - | €2,565 | +€2,565 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,372 | €955 | -€417 | -30.4% |
| Other operating charges | 640/8 | €1,091 | €2,940 | +€1,849 | +169.5% |
| Gross operating margin | 9900 | -€858 | €5,906 | +€6,764 | |
| Operating profit (loss) | 9901 | -€3,321 | €2,011 | +€5,332 | |
| Financial income | 75/76B | €186 | €4 | -€182 | -97.8% |
| Recurring financial income | 75 | €186 | €4 | -€182 | -97.8% |
| Financial charges | 65/66B | €844 | €1,017 | +€173 | +20.5% |
| Recurring financial charges | 65 | €844 | €1,017 | +€173 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,979 | €998 | +€4,977 | |
| Income taxes | 67/77 | €1,989 | €748 | -€1,241 | -62.4% |
| Profit (loss) for the period | 9904 | -€5,968 | €250 | +€6,218 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,968 | €250 | +€6,218 |
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 8 October 2026 via checked.be.