PH Neutre: 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 Neutre
Largest movements
- Receivables within one year -€34,464
down €34,464 (-24.8%), from €138,769 to €104,305
of which Trade receivables: -€21,508
- Cash +€1,789
up €1,789 (+292.9%), from €611 to €2,400
mainly Receivables within one year (+€34,464) and Net result for the year (+€24,419)
- Trade debts -€36,091
down €36,091 (-51.7%), from €69,832 to €33,741
- Reserves +€22,550
up €22,550 (+38.0%), from €59,415 to €81,965
of which Distributable reserves: +€24,410
- Tax, wage and social debts -€22,362
down €22,362 (-80.2%), from €27,872 to €5,511
of which Taxes: -€15,987
- Contributions +€1,860
up €1,860 (+30.0%), from €6,200 to €8,060
- Gross operating margin +€58,872
up €58,872, from -€28,463 to €30,409
- Taxes -€4,206
down €4,206 (-62.0%), from €6,789 to €2,583
- Other operating charges -€1,834
down €1,834 (-65.1%), from €2,818 to €984
- Financial charges +€956
up €956 (+253.7%), from €377 to €1,333
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 | €145,955 | €111,377 | -€34,578 | -23.7% |
| Fixed assets | 21/28 | €3,016 | €1,926 | -€1,090 | -36.1% |
| Tangible fixed assets | 22/27 | €3,016 | €1,926 | -€1,090 | -36.1% |
| Furniture and vehicles | 24 | €3,016 | €1,926 | -€1,090 | -36.1% |
| Current assets | 29/58 | €142,939 | €109,451 | -€33,488 | -23.4% |
| Amounts receivable within one year | 40/41 | €138,769 | €104,305 | -€34,464 | -24.8% |
| Trade receivables | 40 | €120,082 | €98,574 | -€21,508 | -17.9% |
| Other amounts receivable | 41 | €18,687 | €5,731 | -€12,956 | -69.3% |
| Current investments | 50/53 | €1,500 | €1,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €611 | €2,400 | +€1,789 | +292.9% |
| Deferred charges and accrued income | 490/1 | €2,060 | €1,246 | -€813 | -39.5% |
| Total equity and liabilities | 10/49 | €145,955 | €111,377 | -€34,578 | -23.7% |
| Equity | 10/15 | €27,285 | €51,704 | +€24,419 | +89.5% |
| Contributions | 10/11 | €6,200 | €8,060 | +€1,860 | +30.0% |
| Reserves | 13 | €59,415 | €81,965 | +€22,550 | +38.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €57,555 | €81,965 | +€24,410 | +42.4% |
| Profit (loss) carried forward | 14 | -€38,330 | -€38,320 | +€9 | 0.0% |
| Amounts payable | 17/49 | €118,670 | €59,672 | -€58,997 | -49.7% |
| Amounts payable within one year | 42/48 | €118,670 | €59,352 | -€59,317 | -50.0% |
| Trade debts | 44 | €69,832 | €33,741 | -€36,091 | -51.7% |
| Suppliers | 440/4 | €69,832 | €33,741 | -€36,091 | -51.7% |
| Taxes, remuneration and social security | 45 | €27,872 | €5,511 | -€22,362 | -80.2% |
| Taxes | 450/3 | €21,497 | €5,511 | -€15,987 | -74.4% |
| Remuneration and social security | 454/9 | €6,375 | - | -€6,375 | |
| Other amounts payable | 47/48 | €20,966 | €20,100 | -€865 | -4.1% |
| Accrued charges and deferred income | 492/3 | - | €320 | +€320 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,329 | €1,090 | -€239 | -18.0% |
| Other operating charges | 640/8 | €2,818 | €984 | -€1,834 | -65.1% |
| Gross operating margin | 9900 | -€28,463 | €30,409 | +€58,872 | |
| Operating profit (loss) | 9901 | -€32,610 | €28,335 | +€60,945 | |
| Financial charges | 65/66B | €377 | €1,333 | +€956 | +253.7% |
| Recurring financial charges | 65 | €377 | €1,333 | +€956 | +253.7% |
| Profit (loss) for the period before taxes | 9903 | -€32,987 | €27,003 | +€59,989 | |
| Income taxes | 67/77 | €6,789 | €2,583 | -€4,206 | -62.0% |
| Profit (loss) for the period | 9904 | -€39,776 | €24,419 | +€64,195 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,776 | €24,419 | +€64,195 |
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 10 October 2026 via checked.be.