Ph. VILLA: 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. VILLA
Largest movements
- Receivables within one year +€899,843
up €899,843 (+450.0%), from €199,972 to €1.1m
of which Other amounts receivable: +€899,843
- Profit (loss) carried forward +€1.3m
up €1.3m (+138.0%), from €914,760 to €2.2m
- Debts after one year -€875,000
down €875,000 (-100.0%), from €875,000 to €0
- Other debts +€536,732
up €536,732 (+97.9%), from €548,499 to €1.1m
- Financial income +€1.7m
up €1.7m (+556.6%), from €301,446 to €2.0m
- Gross operating margin +€3,516
up €3,516 (+3.2%), from €110,033 to €113,549
- Depreciation -€2,698
down €2,698 (-32.4%), from €8,334 to €5,636
- Financial charges -€1,977
down €1,977 (-90.9%), from €2,176 to €199
- Taxes +€1,372
up €1,372 (+6.3%), from €21,603 to €22,975
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 | €2,388,976 | €3,300,523 | +€911,547 | +38.2% |
| Fixed assets | 21/28 | €1,915,382 | €1,915,200 | -€182 | 0.0% |
| Tangible fixed assets | 22/27 | €5,556 | €5,374 | -€182 | -3.3% |
| Plant, machinery and equipment | 23 | - | €5,374 | +€5,374 | |
| Furniture and vehicles | 24 | €5,556 | €0 | -€5,556 | -100.0% |
| Financial fixed assets | 28 | €1,909,826 | €1,909,826 | = | 0.0% |
| Current assets | 29/58 | €473,593 | €1,385,322 | +€911,729 | +192.5% |
| Amounts receivable after more than one year | 29 | €110,000 | €110,000 | = | 0.0% |
| Other amounts receivable | 291 | €110,000 | €110,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €199,972 | €1,099,815 | +€899,843 | +450.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €199,972 | €1,099,815 | +€899,843 | +450.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €162,241 | €169,228 | +€6,987 | +4.3% |
| Deferred charges and accrued income | 490/1 | €1,381 | €6,280 | +€4,899 | +354.7% |
| Total equity and liabilities | 10/49 | €2,388,976 | €3,300,523 | +€911,547 | +38.2% |
| Equity | 10/15 | €935,165 | €2,197,568 | +€1.3m | +135.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €914,760 | €2,177,163 | +€1.3m | +138.0% |
| Amounts payable | 17/49 | €1,453,811 | €1,102,955 | -€350,856 | -24.1% |
| Amounts payable after more than one year | 17 | €875,000 | €0 | -€875,000 | -100.0% |
| Financial debts | 170/4 | €875,000 | €0 | -€875,000 | -100.0% |
| Amounts payable within one year | 42/48 | €574,686 | €1,101,455 | +€526,769 | +91.7% |
| Current portion of amounts payable after more than one year | 42 | €9,390 | €0 | -€9,390 | -100.0% |
| Trade debts | 44 | €0 | €538 | +€538 | |
| Suppliers | 440/4 | €0 | €538 | +€538 | |
| Taxes, remuneration and social security | 45 | €16,797 | €15,687 | -€1,110 | -6.6% |
| Taxes | 450/3 | €16,797 | €15,687 | -€1,110 | -6.6% |
| Other amounts payable | 47/48 | €548,499 | €1,085,230 | +€536,732 | +97.9% |
| Accrued charges and deferred income | 492/3 | €4,125 | €1,500 | -€2,625 | -63.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,334 | €5,636 | -€2,698 | -32.4% |
| Other operating charges | 640/8 | €1,886 | €1,659 | -€227 | -12.1% |
| Gross operating margin | 9900 | €110,033 | €113,549 | +€3,516 | +3.2% |
| Operating profit (loss) | 9901 | €99,813 | €106,255 | +€6,442 | +6.5% |
| Financial income | 75/76B | €301,446 | €1,979,322 | +€1.7m | +556.6% |
| Recurring financial income | 75 | €301,446 | €1,979,322 | +€1.7m | +556.6% |
| Financial charges | 65/66B | €2,176 | €199 | -€1,977 | -90.9% |
| Recurring financial charges | 65 | €2,176 | €199 | -€1,977 | -90.9% |
| Profit (loss) for the period before taxes | 9903 | €399,083 | €2,085,378 | +€1.7m | +422.5% |
| Income taxes | 67/77 | €21,603 | €22,975 | +€1,372 | +6.3% |
| Profit (loss) for the period | 9904 | €377,479 | €2,062,403 | +€1.7m | +446.4% |
| Profit (loss) for the period to be appropriated | 9905 | €377,479 | €2,062,403 | +€1.7m | +446.4% |
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.