PH COMMERCIAL SERVICES: 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 COMMERCIAL SERVICES
Largest movements
- Cash +€76,934
up €76,934 (+172%), from €44,757 to €121,692
mainly Accrued charges and deferred income (+€36,580) and Tax, wage and social debts (+€31,129)
- Deferred charges and accrued income -€17,592
down €17,592 (-48.2%), from €36,506 to €18,914
- Intangible fixed assets -€11,813
down €11,813 (-100%), from €11,813 to €0
- Receivables within one year +€4,880
up €4,880 (+2.0%), from €248,541 to €253,421
of which Trade receivables: +€4,880
- Accrued charges and deferred income +€36,580
up €36,580 (+177%), from €20,620 to €57,200
- Tax, wage and social debts +€31,129
up €31,129 (+80.6%), from €38,608 to €69,737
of which Remuneration and social security: +€22,080
- Other debts -€14,212
down €14,212 (-28.7%), from €49,563 to €35,351
- Profit (loss) carried forward +€4,623
up €4,623 (+131%), from €3,529 to €8,152
- Staff costs +€88,805
up €88,805 (+25.7%), from €345,697 to €434,502
- Gross operating margin +€87,922
up €87,922 (+22.3%), from €394,358 to €482,280
- Depreciation -€15,348
down €15,348 (-55.5%), from €27,632 to €12,284
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 | €341,637 | €397,229 | +€55,592 | +16.3% |
| Fixed assets | 21/28 | €11,833 | €3,203 | -€8,631 | -72.9% |
| Intangible fixed assets | 21 | €11,813 | €0 | -€11,813 | -100% |
| Tangible fixed assets | 22/27 | €0 | €3,183 | +€3,183 | |
| Furniture and vehicles | 24 | €0 | €3,183 | +€3,183 | |
| Financial fixed assets | 28 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €329,804 | €394,026 | +€64,222 | +19.5% |
| Amounts receivable within one year | 40/41 | €248,541 | €253,421 | +€4,880 | +2.0% |
| Trade receivables | 40 | €247,986 | €252,865 | +€4,880 | +2.0% |
| Other amounts receivable | 41 | €555 | €555 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €44,757 | €121,692 | +€76,934 | +172% |
| Deferred charges and accrued income | 490/1 | €36,506 | €18,914 | -€17,592 | -48.2% |
| Total equity and liabilities | 10/49 | €341,637 | €397,229 | +€55,592 | +16.3% |
| Equity | 10/15 | €71,699 | €76,322 | +€4,623 | +6.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,529 | €8,152 | +€4,623 | +131% |
| Amounts payable | 17/49 | €269,938 | €320,907 | +€50,969 | +18.9% |
| Amounts payable after more than one year | 17 | €56,197 | €56,197 | = | 0.0% |
| Financial debts | 170/4 | €56,197 | €56,197 | = | 0.0% |
| Amounts payable within one year | 42/48 | €193,120 | €207,509 | +€14,389 | +7.5% |
| Trade debts | 44 | €104,950 | €102,421 | -€2,528 | -2.4% |
| Suppliers | 440/4 | €104,950 | €102,421 | -€2,528 | -2.4% |
| Taxes, remuneration and social security | 45 | €38,608 | €69,737 | +€31,129 | +80.6% |
| Taxes | 450/3 | €5,042 | €14,091 | +€9,049 | +179% |
| Remuneration and social security | 454/9 | €33,566 | €55,646 | +€22,080 | +65.8% |
| Other amounts payable | 47/48 | €49,563 | €35,351 | -€14,212 | -28.7% |
| Accrued charges and deferred income | 492/3 | €20,620 | €57,200 | +€36,580 | +177% |
| Remuneration, social security and pensions | 62 | €345,697 | €434,502 | +€88,805 | +25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,632 | €12,284 | -€15,348 | -55.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,900 | €15,447 | +€2,547 | +19.7% |
| Other operating charges | 640/8 | €2,325 | €4,296 | +€1,971 | +84.8% |
| Gross operating margin | 9900 | €394,358 | €482,280 | +€87,922 | +22.3% |
| Operating profit (loss) | 9901 | €5,804 | €15,751 | +€9,947 | +171% |
| Financial income | 75/76B | €15 | €1 | -€14 | -96.2% |
| Recurring financial income | 75 | €15 | €1 | -€14 | -96.2% |
| Financial charges | 65/66B | €2,953 | €5,392 | +€2,440 | +82.6% |
| Recurring financial charges | 65 | €2,953 | €5,392 | +€2,440 | +82.6% |
| Profit (loss) for the period before taxes | 9903 | €2,866 | €10,359 | +€7,493 | +261% |
| Income taxes | 67/77 | €2,714 | €5,736 | +€3,022 | +111% |
| Profit (loss) for the period | 9904 | €152 | €4,623 | +€4,471 | +2,937% |
| Profit (loss) for the period to be appropriated | 9905 | €152 | €4,623 | +€4,471 | +2,937% |
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 17 October 2026 via checked.be.