Ph & B Management: 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 & B Management
Largest movements
- Tangible fixed assets +€38,124
up €38,124 (+1,286%), from €2,966 to €41,089
- Cash +€36,418
up €36,418 (+1,259%), from €2,894 to €39,312
mainly Net result for the year (+€65,563) and Trade debts (+€21,171)
- Receivables within one year +€36,077
up €36,077 (+580%), from €6,219 to €42,295
of which Trade receivables: +€35,753
- Reserves +€56,210
up €56,210 (+303%), from €18,569 to €74,779
of which Tax-exempt reserves: +€33,680
- Trade debts +€21,171
up €21,171 (+1,354%), from €1,563 to €22,734
- Profit (loss) carried forward +€9,353
no longer reported in 2025 (was -€9,353)
- Debts after one year +€9,025
new in 2025: €9,025
- Other debts +€8,000
new in 2025: €8,000
- Gross operating margin +€80,740
up €80,740 (+521%), from €15,508 to €96,248
- Taxes +€23,665
up €23,665 (+1,405%), from €1,685 to €25,350
- Depreciation +€1,553
up €1,553 (+421%), from €369 to €1,922
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 | €12,645 | €123,360 | +€110,715 | +876% |
| Fixed assets | 21/28 | €2,966 | €41,089 | +€38,124 | +1,286% |
| Tangible fixed assets | 22/27 | €2,966 | €41,089 | +€38,124 | +1,286% |
| Furniture and vehicles | 24 | €2,966 | €41,089 | +€38,124 | +1,286% |
| Current assets | 29/58 | €9,680 | €82,271 | +€72,591 | +750% |
| Amounts receivable within one year | 40/41 | €6,219 | €42,295 | +€36,077 | +580% |
| Trade receivables | 40 | - | €35,753 | +€35,753 | |
| Other amounts receivable | 41 | €6,219 | €6,542 | +€323 | +5.2% |
| Cash at bank and in hand | 54/58 | €2,894 | €39,312 | +€36,418 | +1,259% |
| Deferred charges and accrued income | 490/1 | €567 | €664 | +€96 | +17.0% |
| Total equity and liabilities | 10/49 | €12,645 | €123,360 | +€110,715 | +876% |
| Equity | 10/15 | €9,316 | €74,879 | +€65,563 | +704% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €18,569 | €74,779 | +€56,210 | +303% |
| Tax-exempt reserves | 132 | - | €33,680 | +€33,680 | |
| Distributable reserves | 133 | €18,569 | €41,099 | +€22,530 | +121% |
| Profit (loss) carried forward | 14 | -€9,353 | - | +€9,353 | |
| Amounts payable | 17/49 | €3,330 | €48,481 | +€45,152 | +1,356% |
| Amounts payable after more than one year | 17 | - | €9,025 | +€9,025 | |
| Financial debts | 170/4 | - | €9,025 | +€9,025 | |
| Amounts payable within one year | 42/48 | €3,330 | €39,456 | +€36,127 | +1,085% |
| Current portion of amounts payable after more than one year | 42 | - | €4,975 | +€4,975 | |
| Financial debts | 43 | €82 | - | -€82 | |
| Credit institutions | 430/8 | €82 | - | -€82 | |
| Trade debts | 44 | €1,563 | €22,734 | +€21,171 | +1,354% |
| Suppliers | 440/4 | €1,563 | €22,734 | +€21,171 | +1,354% |
| Taxes, remuneration and social security | 45 | €1,685 | €3,748 | +€2,063 | +122% |
| Taxes | 450/3 | €1,685 | €3,748 | +€2,063 | +122% |
| Other amounts payable | 47/48 | - | €8,000 | +€8,000 | |
| Non-recurring operating income | 76A | €8,764 | - | -€8,764 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €369 | €1,922 | +€1,553 | +421% |
| Other operating charges | 640/8 | €585 | €1,138 | +€553 | +94.5% |
| Non-recurring operating charges | 66A | - | €2,076 | +€2,076 | |
| Gross operating margin | 9900 | €15,508 | €96,248 | +€80,740 | +521% |
| Operating profit (loss) | 9901 | €14,554 | €91,112 | +€76,558 | +526% |
| Financial income | 75/76B | €108 | €238 | +€130 | +120% |
| Recurring financial income | 75 | €108 | €238 | +€130 | +120% |
| Financial charges | 65/66B | €285 | €437 | +€152 | +53.2% |
| Recurring financial charges | 65 | €285 | €437 | +€152 | +53.2% |
| Profit (loss) for the period before taxes | 9903 | €14,377 | €90,913 | +€76,536 | +532% |
| Income taxes | 67/77 | €1,685 | €25,350 | +€23,665 | +1,405% |
| Profit (loss) for the period | 9904 | €12,692 | €65,563 | +€52,871 | +417% |
| Transfer to tax-exempt reserves | 689 | - | €33,680 | +€33,680 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,692 | €31,883 | +€19,191 | +151% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.