PHAESYS: 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.
PHAESYS
Largest movements
- Receivables within one year +€144,583
up €144,583 (+51.8%), from €278,930 to €423,513
of which Other amounts receivable: +€178,959
- Receivables after one year +€91,180
up €91,180 (+31.6%), from €288,170 to €379,350
- Financial fixed assets -€89,600
down €89,600 (-28.9%), from €309,600 to €220,000
- Cash +€14,471
up €14,471 (+5.4%), from €269,157 to €283,627
mainly Other debts (+€373,855) and Net result for the year (+€202,898)
- Other debts +€373,855
new in 2025: €373,855
- Reserves -€170,957
down €170,957 (-20.6%), from €828,424 to €657,466
of which Distributable reserves: -€170,957
- Tax, wage and social debts -€79,833
down €79,833 (-39.0%), from €204,875 to €125,042
- Debts after one year +€39,800
up €39,800 (+79.6%), from €50,000 to €89,800
- Gross operating margin +€49,454
up €49,454 (+24.6%), from €201,290 to €250,744
- Taxes -€22,873
down €22,873 (-26.8%), from €85,463 to €62,591
- Financial income +€7,368
up €7,368 (+43.0%), from €17,137 to €24,504
- Financial charges +€2,757
up €2,757 (+98.3%), from €2,805 to €5,562
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 | €1,154,030 | €1,313,324 | +€159,293 | +13.8% |
| Fixed assets | 21/28 | €314,748 | €222,376 | -€92,373 | -29.3% |
| Tangible fixed assets | 22/27 | €5,148 | €2,376 | -€2,773 | -53.9% |
| Furniture and vehicles | 24 | €5,148 | €2,376 | -€2,773 | -53.9% |
| Financial fixed assets | 28 | €309,600 | €220,000 | -€89,600 | -28.9% |
| Current assets | 29/58 | €839,282 | €1,090,948 | +€251,666 | +30.0% |
| Amounts receivable after more than one year | 29 | €288,170 | €379,350 | +€91,180 | +31.6% |
| Other amounts receivable | 291 | €288,170 | €379,350 | +€91,180 | +31.6% |
| Amounts receivable within one year | 40/41 | €278,930 | €423,513 | +€144,583 | +51.8% |
| Trade receivables | 40 | €81,349 | €46,973 | -€34,376 | -42.3% |
| Other amounts receivable | 41 | €197,580 | €376,540 | +€178,959 | +90.6% |
| Cash at bank and in hand | 54/58 | €269,157 | €283,627 | +€14,471 | +5.4% |
| Deferred charges and accrued income | 490/1 | €3,025 | €4,458 | +€1,433 | +47.3% |
| Total equity and liabilities | 10/49 | €1,154,030 | €1,313,324 | +€159,293 | +13.8% |
| Equity | 10/15 | €847,024 | €676,066 | -€170,957 | -20.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €828,424 | €657,466 | -€170,957 | -20.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €826,564 | €655,606 | -€170,957 | -20.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €307,007 | €637,257 | +€330,251 | +107.6% |
| Amounts payable after more than one year | 17 | €50,000 | €89,800 | +€39,800 | +79.6% |
| Financial debts | 170/4 | €50,000 | €89,800 | +€39,800 | +79.6% |
| Amounts payable within one year | 42/48 | €247,110 | €546,801 | +€299,691 | +121.3% |
| Trade debts | 44 | €42,235 | €47,903 | +€5,669 | +13.4% |
| Suppliers | 440/4 | €42,235 | €47,903 | +€5,669 | +13.4% |
| Taxes, remuneration and social security | 45 | €204,875 | €125,042 | -€79,833 | -39.0% |
| Taxes | 450/3 | €204,875 | €125,042 | -€79,833 | -39.0% |
| Other amounts payable | 47/48 | - | €373,855 | +€373,855 | |
| Accrued charges and deferred income | 492/3 | €9,897 | €657 | -€9,240 | -93.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,970 | €2,773 | -€1,198 | -30.2% |
| Other operating charges | 640/8 | €1,413 | €1,425 | +€12 | +0.8% |
| Gross operating margin | 9900 | €201,290 | €250,744 | +€49,454 | +24.6% |
| Operating profit (loss) | 9901 | €195,907 | €246,546 | +€50,640 | +25.8% |
| Financial income | 75/76B | €17,137 | €24,504 | +€7,368 | +43.0% |
| Recurring financial income | 75 | €17,137 | €24,504 | +€7,368 | +43.0% |
| Financial charges | 65/66B | €2,805 | €5,562 | +€2,757 | +98.3% |
| Recurring financial charges | 65 | €2,805 | €5,562 | +€2,757 | +98.3% |
| Profit (loss) for the period before taxes | 9903 | €210,239 | €265,489 | +€55,250 | +26.3% |
| Income taxes | 67/77 | €85,463 | €62,591 | -€22,873 | -26.8% |
| Profit (loss) for the period | 9904 | €124,775 | €202,898 | +€78,123 | +62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €124,775 | €202,898 | +€78,123 | +62.6% |
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 29 September 2026 via checked.be.