PH advies: 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.
PH advies
Largest movements
- Cash +€62,676
up €62,676 (+35.0%), from €179,193 to €241,869
mainly Net result for the year (+€45,652) and Other debts (+€23,757)
- Tangible fixed assets -€14,131
down €14,131 (-22.0%), from €64,348 to €50,217
of which Furniture and vehicles: -€12,493
- Other debts +€23,757
up €23,757 (+40.2%), from €59,142 to €82,899
- Reserves +€19,829
up €19,829 (+11.8%), from €168,066 to €187,895
of which Distributable reserves: +€19,829
- Tax, wage and social debts +€3,113
up €3,113 (+17.7%), from €17,543 to €20,655
- Gross operating margin +€15,292
up €15,292 (+23.9%), from €63,936 to €79,227
- Taxes +€4,342
up €4,342 (+32.3%), from €13,437 to €17,779
- Depreciation +€4,223
up €4,223 (+39.6%), from €10,651 to €14,874
- Financial income +€3,669
up €3,669 (+740.3%), from €496 to €4,165
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 | €246,064 | €292,449 | +€46,386 | +18.9% |
| Fixed assets | 21/28 | €64,348 | €50,217 | -€14,131 | -22.0% |
| Tangible fixed assets | 22/27 | €64,348 | €50,217 | -€14,131 | -22.0% |
| Plant, machinery and equipment | 23 | €8,475 | €6,837 | -€1,639 | -19.3% |
| Furniture and vehicles | 24 | €55,873 | €43,380 | -€12,493 | -22.4% |
| Current assets | 29/58 | €181,716 | €242,233 | +€60,517 | +33.3% |
| Amounts receivable within one year | 40/41 | €2,022 | €224 | -€1,798 | -88.9% |
| Trade receivables | 40 | - | €224 | +€224 | |
| Other amounts receivable | 41 | €2,022 | €0 | -€2,022 | -100.0% |
| Cash at bank and in hand | 54/58 | €179,193 | €241,869 | +€62,676 | +35.0% |
| Deferred charges and accrued income | 490/1 | €500 | €140 | -€360 | -72.0% |
| Total equity and liabilities | 10/49 | €246,064 | €292,449 | +€46,386 | +18.9% |
| Equity | 10/15 | €169,066 | €188,895 | +€19,829 | +11.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €168,066 | €187,895 | +€19,829 | +11.8% |
| Tax-exempt reserves | 132 | €454 | €454 | = | 0.0% |
| Distributable reserves | 133 | €167,612 | €187,441 | +€19,829 | +11.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €76,998 | €103,554 | +€26,557 | +34.5% |
| Amounts payable within one year | 42/48 | €76,998 | €103,554 | +€26,557 | +34.5% |
| Trade debts | 44 | €313 | €0 | -€313 | -100.0% |
| Suppliers | 440/4 | €313 | €0 | -€313 | -100.0% |
| Taxes, remuneration and social security | 45 | €17,543 | €20,655 | +€3,113 | +17.7% |
| Taxes | 450/3 | €17,543 | €20,655 | +€3,113 | +17.7% |
| Other amounts payable | 47/48 | €59,142 | €82,899 | +€23,757 | +40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,651 | €14,874 | +€4,223 | +39.6% |
| Other operating charges | 640/8 | €1,082 | €795 | -€286 | -26.5% |
| Gross operating margin | 9900 | €63,936 | €79,227 | +€15,292 | +23.9% |
| Operating profit (loss) | 9901 | €52,203 | €63,558 | +€11,355 | +21.8% |
| Financial income | 75/76B | €496 | €4,165 | +€3,669 | +740.3% |
| Recurring financial income | 75 | €496 | €4,165 | +€3,669 | +740.3% |
| Financial charges | 65/66B | €4,454 | €4,292 | -€162 | -3.6% |
| Recurring financial charges | 65 | €4,454 | €4,292 | -€162 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €48,244 | €63,431 | +€15,187 | +31.5% |
| Income taxes | 67/77 | €13,437 | €17,779 | +€4,342 | +32.3% |
| Profit (loss) for the period | 9904 | €34,807 | €45,652 | +€10,845 | +31.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,807 | €45,652 | +€10,845 | +31.2% |
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 11 October 2026 via checked.be.