PH Invest: 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 Invest
Largest movements
- Receivables within one year +€71,005
up €71,005 (+258%), from €27,468 to €98,473
of which Other amounts receivable: +€68,619
- Tangible fixed assets -€20,304
down €20,304 (-5.5%), from €366,143 to €345,839
of which Land and buildings: -€21,075
- Other debts +€73,680
up €73,680 (+51.0%), from €144,342 to €218,021
- Debts after one year -€19,420
down €19,420 (-7.4%), from €261,456 to €242,036
- Trade debts -€6,292
down €6,292 (-53.3%), from €11,816 to €5,524
- Gross operating margin -€4,730
down €4,730 (-14.5%), from €32,547 to €27,817
- Other operating charges +€1,018
up €1,018 (+103%), from €990 to €2,009
- Financial charges +€426
up €426 (+6.2%), from €6,879 to €7,305
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 | €398,502 | €446,833 | +€48,331 | +12.1% |
| Fixed assets | 21/28 | €366,143 | €345,839 | -€20,304 | -5.5% |
| Tangible fixed assets | 22/27 | €366,143 | €345,839 | -€20,304 | -5.5% |
| Land and buildings | 22 | €366,143 | €345,068 | -€21,075 | -5.8% |
| Furniture and vehicles | 24 | - | €771 | +€771 | |
| Current assets | 29/58 | €32,359 | €100,994 | +€68,635 | +212% |
| Amounts receivable within one year | 40/41 | €27,468 | €98,473 | +€71,005 | +258% |
| Trade receivables | 40 | €27,468 | €29,854 | +€2,386 | +8.7% |
| Other amounts receivable | 41 | - | €68,619 | +€68,619 | |
| Cash at bank and in hand | 54/58 | €4,891 | €2,441 | -€2,450 | -50.1% |
| Deferred charges and accrued income | 490/1 | - | €80 | +€80 | |
| Total equity and liabilities | 10/49 | €398,502 | €446,833 | +€48,331 | +12.1% |
| Equity | 10/15 | -€41,344 | -€43,925 | -€2,581 | -6.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,344 | -€48,925 | -€2,581 | -5.6% |
| Amounts payable | 17/49 | €439,846 | €490,758 | +€50,913 | +11.6% |
| Amounts payable after more than one year | 17 | €261,456 | €242,036 | -€19,420 | -7.4% |
| Financial debts | 170/4 | €261,456 | €242,036 | -€19,420 | -7.4% |
| Amounts payable within one year | 42/48 | €178,390 | €248,323 | +€69,933 | +39.2% |
| Current portion of amounts payable after more than one year | 42 | €19,027 | €19,420 | +€393 | +2.1% |
| Trade debts | 44 | €11,816 | €5,524 | -€6,292 | -53.3% |
| Suppliers | 440/4 | €11,816 | €5,524 | -€6,292 | -53.3% |
| Taxes, remuneration and social security | 45 | €3,205 | €5,358 | +€2,153 | +67.2% |
| Taxes | 450/3 | €3,205 | €5,358 | +€2,153 | +67.2% |
| Other amounts payable | 47/48 | €144,342 | €218,021 | +€73,680 | +51.0% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,075 | €21,085 | +€10 | 0.0% |
| Other operating charges | 640/8 | €990 | €2,009 | +€1,018 | +103% |
| Gross operating margin | 9900 | €32,547 | €27,817 | -€4,730 | -14.5% |
| Operating profit (loss) | 9901 | €10,482 | €4,723 | -€5,759 | -54.9% |
| Financial charges | 65/66B | €6,879 | €7,305 | +€426 | +6.2% |
| Recurring financial charges | 65 | €6,879 | €7,305 | +€426 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €3,603 | -€2,581 | -€6,184 | |
| Profit (loss) for the period | 9904 | €3,603 | -€2,581 | -€6,184 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,603 | -€2,581 | -€6,184 |
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 23 October 2026 via checked.be.