Ph. S Projects: 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. S Projects
Largest movements
- Tangible fixed assets +€8,546
up €8,546 (+16.2%), from €52,770 to €61,316
of which Furniture and vehicles: +€6,447
- Receivables within one year +€1,673
up €1,673 (+8.5%), from €19,776 to €21,449
of which Trade receivables: +€1,244
- Other debts +€17,495
up €17,495 (+1093.5%), from €1,600 to €19,095
- Tax, wage and social debts -€6,580
down €6,580 (-31.4%), from €20,977 to €14,397
- Trade debts -€1,081
down €1,081 (-26.8%), from €4,032 to €2,951
- Current portion of long-term debt -€998
down €998 (-100.0%), from €998 to €0
- Gross operating margin +€2,524
up €2,524 (+9.4%), from €26,762 to €29,285
- Taxes -€788
down €788 (-10.7%), from €7,372 to €6,584
- Other operating charges -€548
down €548 (-64.9%), from €845 to €297
- Staff costs +€500
new in 2025: €500
- Financial income +€413
up €413 (+277.4%), from €149 to €562
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 | €88,075 | €97,261 | +€9,186 | +10.4% |
| Fixed assets | 21/28 | €53,480 | €62,027 | +€8,546 | +16.0% |
| Tangible fixed assets | 22/27 | €52,770 | €61,316 | +€8,546 | +16.2% |
| Furniture and vehicles | 24 | €47,326 | €53,774 | +€6,447 | +13.6% |
| Other tangible fixed assets | 26 | €5,444 | €7,543 | +€2,099 | +38.6% |
| Financial fixed assets | 28 | €710 | €710 | = | 0.0% |
| Current assets | 29/58 | €34,595 | €35,235 | +€640 | +1.8% |
| Amounts receivable within one year | 40/41 | €19,776 | €21,449 | +€1,673 | +8.5% |
| Trade receivables | 40 | €12,549 | €13,794 | +€1,244 | +9.9% |
| Other amounts receivable | 41 | €7,226 | €7,655 | +€429 | +5.9% |
| Cash at bank and in hand | 54/58 | €14,210 | €13,262 | -€949 | -6.7% |
| Deferred charges and accrued income | 490/1 | €608 | €524 | -€84 | -13.9% |
| Total equity and liabilities | 10/49 | €88,075 | €97,261 | +€9,186 | +10.4% |
| Equity | 10/15 | €58,217 | €58,217 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €55,717 | €55,717 | = | 0.0% |
| Distributable reserves | 133 | €55,717 | €55,717 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €29,858 | €39,044 | +€9,186 | +30.8% |
| Amounts payable within one year | 42/48 | €27,608 | €36,444 | +€8,836 | +32.0% |
| Current portion of amounts payable after more than one year | 42 | €998 | €0 | -€998 | -100.0% |
| Trade debts | 44 | €4,032 | €2,951 | -€1,081 | -26.8% |
| Suppliers | 440/4 | €4,032 | €2,951 | -€1,081 | -26.8% |
| Taxes, remuneration and social security | 45 | €20,977 | €14,397 | -€6,580 | -31.4% |
| Taxes | 450/3 | €20,977 | €14,397 | -€6,580 | -31.4% |
| Other amounts payable | 47/48 | €1,600 | €19,095 | +€17,495 | +1093.5% |
| Accrued charges and deferred income | 492/3 | €2,250 | €2,600 | +€350 | +15.6% |
| Remuneration, social security and pensions | 62 | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,741 | €3,092 | +€351 | +12.8% |
| Other operating charges | 640/8 | €845 | €297 | -€548 | -64.9% |
| Gross operating margin | 9900 | €26,762 | €29,285 | +€2,524 | +9.4% |
| Operating profit (loss) | 9901 | €23,175 | €25,396 | +€2,221 | +9.6% |
| Financial income | 75/76B | €149 | €562 | +€413 | +277.4% |
| Recurring financial income | 75 | €149 | €562 | +€413 | +277.4% |
| Financial charges | 65/66B | €309 | €279 | -€30 | -9.7% |
| Recurring financial charges | 65 | €309 | €279 | -€30 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €23,015 | €25,679 | +€2,664 | +11.6% |
| Income taxes | 67/77 | €7,372 | €6,584 | -€788 | -10.7% |
| Profit (loss) for the period | 9904 | €15,643 | €19,095 | +€3,452 | +22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,643 | €19,095 | +€3,452 | +22.1% |
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 12 October 2026 via checked.be.