Pfenixx: 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.
Pfenixx
Largest movements
- Financial fixed assets -€500,000
no longer reported in 2025 (was €500,000)
- Receivables within one year +€476,543
up €476,543 (+386.9%), from €123,168 to €599,711
of which Other amounts receivable: +€474,689
- Tangible fixed assets -€16,557
down €16,557 (-3.8%), from €440,852 to €424,295
of which Land and buildings: -€14,113
- Cash -€15,404
down €15,404 (-35.3%), from €43,623 to €28,219
mainly Receivables within one year (-€476,543) and Contributions, distributions and other (-€445,196)
- Reserves -€290,000
down €290,000 (-80.4%), from €360,829 to €70,829
of which Distributable reserves: -€290,000
- Other debts +€157,335
new in 2025: €157,335
- Debts after one year +€45,809
up €45,809 (+6.9%), from €662,798 to €708,607
- Current portion of long-term debt +€24,912
up €24,912 (+128.3%), from €19,418 to €44,330
- Gross operating margin -€48,832
down €48,832 (-17.7%), from €275,325 to €226,493
- Financial charges -€35,148
down €35,148 (-73.0%), from €48,134 to €12,985
- Financial income +€10,600
up €10,600 (+1274.0%), from €832 to €11,432
- Staff costs +€9,263
new in 2025: €9,263
- Taxes -€5,172
down €5,172 (-10.5%), from €49,096 to €43,923
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 | €1,114,969 | €1,058,132 | -€56,837 | -5.1% |
| Fixed assets | 21/28 | €940,852 | €424,295 | -€516,557 | -54.9% |
| Tangible fixed assets | 22/27 | €440,852 | €424,295 | -€16,557 | -3.8% |
| Land and buildings | 22 | €430,478 | €416,365 | -€14,113 | -3.3% |
| Plant, machinery and equipment | 23 | €1,035 | €825 | -€211 | -20.3% |
| Furniture and vehicles | 24 | €9,338 | €7,104 | -€2,233 | -23.9% |
| Financial fixed assets | 28 | €500,000 | - | -€500,000 | |
| Current assets | 29/58 | €174,118 | €633,838 | +€459,720 | +264.0% |
| Amounts receivable within one year | 40/41 | €123,168 | €599,711 | +€476,543 | +386.9% |
| Trade receivables | 40 | €31,203 | €33,057 | +€1,854 | +5.9% |
| Other amounts receivable | 41 | €91,965 | €566,654 | +€474,689 | +516.2% |
| Cash at bank and in hand | 54/58 | €43,623 | €28,219 | -€15,404 | -35.3% |
| Deferred charges and accrued income | 490/1 | €7,327 | €5,907 | -€1,419 | -19.4% |
| Total equity and liabilities | 10/49 | €1,114,969 | €1,058,132 | -€56,837 | -5.1% |
| Equity | 10/15 | €368,329 | €78,329 | -€290,000 | -78.7% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €360,829 | €70,829 | -€290,000 | -80.4% |
| Tax-exempt reserves | 132 | €63,150 | €63,150 | = | 0.0% |
| Distributable reserves | 133 | €297,679 | €7,679 | -€290,000 | -97.4% |
| Amounts payable | 17/49 | €746,640 | €979,803 | +€233,163 | +31.2% |
| Amounts payable after more than one year | 17 | €662,798 | €708,607 | +€45,809 | +6.9% |
| Financial debts | 170/4 | €662,798 | €708,607 | +€45,809 | +6.9% |
| Amounts payable within one year | 42/48 | €83,842 | €271,195 | +€187,354 | +223.5% |
| Current portion of amounts payable after more than one year | 42 | €19,418 | €44,330 | +€24,912 | +128.3% |
| Trade debts | 44 | €381 | €504 | +€123 | +32.4% |
| Suppliers | 440/4 | €381 | €504 | +€123 | +32.4% |
| Taxes, remuneration and social security | 45 | €64,043 | €69,026 | +€4,984 | +7.8% |
| Taxes | 450/3 | €63,793 | €64,582 | +€790 | +1.2% |
| Remuneration and social security | 454/9 | €250 | €4,444 | +€4,194 | +1677.6% |
| Other amounts payable | 47/48 | - | €157,335 | +€157,335 | |
| Remuneration, social security and pensions | 62 | - | €9,263 | +€9,263 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,837 | €16,557 | +€720 | +4.5% |
| Gross operating margin | 9900 | €275,325 | €226,493 | -€48,832 | -17.7% |
| Operating profit (loss) | 9901 | €259,488 | €200,673 | -€58,816 | -22.7% |
| Financial income | 75/76B | €832 | €11,432 | +€10,600 | +1274.0% |
| Recurring financial income | 75 | €832 | €11,432 | +€10,600 | +1274.0% |
| Financial charges | 65/66B | €48,134 | €12,985 | -€35,148 | -73.0% |
| Recurring financial charges | 65 | €48,134 | €12,985 | -€35,148 | -73.0% |
| Profit (loss) for the period before taxes | 9903 | €212,187 | €199,119 | -€13,067 | -6.2% |
| Income taxes | 67/77 | €49,096 | €43,923 | -€5,172 | -10.5% |
| Profit (loss) for the period | 9904 | €163,091 | €155,196 | -€7,895 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €163,091 | €155,196 | -€7,895 | -4.8% |
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 10 October 2026 via checked.be.