PH CONSTRUCTION: 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 CONSTRUCTION
Largest movements
- Receivables after one year -€120,000
no longer reported in 2025 (was €120,000)
- Tangible fixed assets +€115,460
up €115,460 (+3,528%), from €3,272 to €118,733
of which Furniture and vehicles: +€115,971
- Receivables within one year +€6,537
up €6,537 (+25.8%), from €25,303 to €31,840
of which Trade receivables: +€6,205
- Cash -€6,488
down €6,488 (-9.0%), from €72,117 to €65,629
mainly Investment in fixed assets (net) (-€130,000) and Net result for the year (-€12,084)
- Deferred charges and accrued income +€4,077
new in 2025: €4,077
- Profit (loss) carried forward -€12,084
down €12,084 (-16.1%), from €75,260 to €63,176
- Trade debts +€11,854
up €11,854 (+9.7%), from €122,262 to €134,116
- Gross operating margin -€54,223
down €54,223 (-99.2%), from €54,651 to €428
- Taxes -€14,429
down €14,429 (-97.9%), from €14,743 to €314
- Depreciation +€12,335
up €12,335 (+560%), from €2,204 to €14,540
- Financial income +€4,063
up €4,063 (+29,021%), from €14 to €4,077
- Other operating charges -€630
down €630 (-29.3%), from €2,150 to €1,520
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 | €222,842 | €222,429 | -€413 | -0.2% |
| Fixed assets | 21/28 | €5,422 | €120,883 | +€115,460 | +2,129% |
| Tangible fixed assets | 22/27 | €3,272 | €118,733 | +€115,460 | +3,528% |
| Furniture and vehicles | 24 | €2,057 | €118,029 | +€115,971 | +5,637% |
| Other tangible fixed assets | 26 | €1,215 | €704 | -€511 | -42.1% |
| Financial fixed assets | 28 | €2,150 | €2,150 | = | 0.0% |
| Current assets | 29/58 | €217,420 | €101,546 | -€115,874 | -53.3% |
| Amounts receivable after more than one year | 29 | €120,000 | - | -€120,000 | |
| Other amounts receivable | 291 | €120,000 | - | -€120,000 | |
| Amounts receivable within one year | 40/41 | €25,303 | €31,840 | +€6,537 | +25.8% |
| Trade receivables | 40 | €19,572 | €25,777 | +€6,205 | +31.7% |
| Other amounts receivable | 41 | €5,731 | €6,063 | +€332 | +5.8% |
| Cash at bank and in hand | 54/58 | €72,117 | €65,629 | -€6,488 | -9.0% |
| Deferred charges and accrued income | 490/1 | - | €4,077 | +€4,077 | |
| Total equity and liabilities | 10/49 | €222,842 | €222,429 | -€413 | -0.2% |
| Equity | 10/15 | €81,460 | €69,376 | -€12,084 | -14.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,260 | €63,176 | -€12,084 | -16.1% |
| Amounts payable | 17/49 | €141,383 | €153,053 | +€11,670 | +8.3% |
| Amounts payable within one year | 42/48 | €141,383 | €153,053 | +€11,670 | +8.3% |
| Trade debts | 44 | €122,262 | €134,116 | +€11,854 | +9.7% |
| Suppliers | 440/4 | €122,262 | €134,116 | +€11,854 | +9.7% |
| Taxes, remuneration and social security | 45 | €19,120 | €18,937 | -€183 | -1.0% |
| Taxes | 450/3 | €19,120 | €18,937 | -€183 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,204 | €14,540 | +€12,335 | +560% |
| Other operating charges | 640/8 | €2,150 | €1,520 | -€630 | -29.3% |
| Gross operating margin | 9900 | €54,651 | €428 | -€54,223 | -99.2% |
| Operating profit (loss) | 9901 | €50,297 | -€15,631 | -€65,929 | |
| Financial income | 75/76B | €14 | €4,077 | +€4,063 | +29,021% |
| Recurring financial income | 75 | €14 | €4,077 | +€4,063 | +29,021% |
| Financial charges | 65/66B | €361 | €215 | -€146 | -40.4% |
| Recurring financial charges | 65 | €361 | €215 | -€146 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €49,951 | -€11,769 | -€61,720 | |
| Income taxes | 67/77 | €14,743 | €314 | -€14,429 | -97.9% |
| Profit (loss) for the period | 9904 | €35,208 | -€12,084 | -€47,292 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,208 | -€12,084 | -€47,292 |
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 15 October 2026 via checked.be.