PHACOBRE: what changed
Two fiscal 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.
PHACOBRE
Largest movements
- Current investments -€220,000
no longer reported in 2025 (was €220,000)
- Cash +€218,946
up €218,946 (+129.3%), from €169,366 to €388,312
mainly Current investments (+€220,000) and Net result for the year (+€2,984)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€29,081
down €29,081 (-79.0%), from €36,808 to €7,728
- Taxes -€4,971
down €4,971 (-45.2%), from €11,009 to €6,038
- Financial income +€3,034
up €3,034 (+2094.9%), from €145 to €3,179
- Other operating charges -€1,572
down €1,572 (-51.3%), from €3,064 to €1,492
- Depreciation -€1,303
no longer reported in 2025 (was €1,303)
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 | €405,005 | €404,212 | -€793 | -0.2% |
| Fixed assets | 21/28 | €336 | - | -€336 | |
| Tangible fixed assets | 22/27 | €336 | - | -€336 | |
| Plant, machinery and equipment | 23 | €336 | - | -€336 | |
| Current assets | 29/58 | €404,669 | €404,212 | -€458 | -0.1% |
| Amounts receivable within one year | 40/41 | €10,601 | €13,040 | +€2,439 | +23.0% |
| Other amounts receivable | 41 | €10,601 | €13,040 | +€2,439 | +23.0% |
| Current investments | 50/53 | €220,000 | - | -€220,000 | |
| Cash at bank and in hand | 54/58 | €169,366 | €388,312 | +€218,946 | +129.3% |
| Deferred charges and accrued income | 490/1 | €4,703 | €2,860 | -€1,843 | -39.2% |
| Total equity and liabilities | 10/49 | €405,005 | €404,212 | -€793 | -0.2% |
| Equity | 10/15 | €401,228 | €404,212 | +€2,984 | +0.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €352,860 | €354,860 | +€2,000 | +0.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,000 | - | -€8,000 | |
| Distributable reserves | 133 | €343,000 | €353,000 | +€10,000 | +2.9% |
| Profit (loss) carried forward | 14 | €35,968 | €36,952 | +€984 | +2.7% |
| Amounts payable | 17/49 | €3,778 | - | -€3,778 | |
| Amounts payable within one year | 42/48 | €1,875 | - | -€1,875 | |
| Trade debts | 44 | €532 | - | -€532 | |
| Suppliers | 440/4 | €532 | - | -€532 | |
| Taxes, remuneration and social security | 45 | €1,009 | - | -€1,009 | |
| Taxes | 450/3 | €1,009 | - | -€1,009 | |
| Other amounts payable | 47/48 | €334 | - | -€334 | |
| Accrued charges and deferred income | 492/3 | €1,902 | - | -€1,902 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,303 | - | -€1,303 | |
| Other operating charges | 640/8 | €3,064 | €1,492 | -€1,572 | -51.3% |
| Gross operating margin | 9900 | €36,808 | €7,728 | -€29,081 | -79.0% |
| Operating profit (loss) | 9901 | €32,442 | €6,236 | -€26,206 | -80.8% |
| Financial income | 75/76B | €145 | €3,179 | +€3,034 | +2094.9% |
| Recurring financial income | 75 | €145 | €3,179 | +€3,034 | +2094.9% |
| Financial charges | 65/66B | €297 | €392 | +€95 | +32.0% |
| Recurring financial charges | 65 | €297 | €392 | +€95 | +32.0% |
| Profit (loss) for the period before taxes | 9903 | €32,289 | €9,023 | -€23,267 | -72.1% |
| Income taxes | 67/77 | €11,009 | €6,038 | -€4,971 | -45.2% |
| Profit (loss) for the period | 9904 | €21,280 | €2,984 | -€18,296 | -86.0% |
| Transfer from tax-exempt reserves | 789 | - | €8,000 | +€8,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,280 | €10,984 | -€10,296 | -48.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.