PHALANX: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
PHALANX
Largest movements
- Cash +€151,670
up €151,670 (+659%), from €23,001 to €174,671
mainly Current investments (+€125,000) and Net result for the year (+€107,630)
- Current investments -€125,000
no longer reported in 2025 (was €125,000)
- Receivables within one year +€54,344
up €54,344 (+1,338%), from €4,061 to €58,405
of which Trade receivables: +€50,975
- Tangible fixed assets +€35,430
up €35,430 (+9.2%), from €383,724 to €419,154
of which Land and buildings: +€35,735
- Deferred charges and accrued income -€33,467
no longer reported in 2025 (was €33,467)
- Reserves +€107,630
up €107,630 (+65.8%), from €163,527 to €271,158
- Debts after one year -€17,762
down €17,762 (-6.0%), from €297,314 to €279,551
- Other debts -€10,939
no longer reported in 2025 (was €10,939)
- Tax, wage and social debts +€9,583
up €9,583 (+126%), from €7,612 to €17,195
- Short-term financial debts -€8,178
down €8,178 (-38.9%), from €21,025 to €12,847
- Gross operating margin +€69,739
up €69,739 (+36.0%), from €193,523 to €263,262
- Depreciation +€24,844
up €24,844 (+58.8%), from €42,221 to €67,065
- Financial charges +€8,034
up €8,034 (+118%), from €6,783 to €14,817
- Other operating charges -€5,813
down €5,813 (-68.6%), from €8,469 to €2,656
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €569,315 | €652,292 | +€82,978 | +14.6% |
| Fixed assets | 21/28 | €383,786 | €419,216 | +€35,430 | +9.2% |
| Tangible fixed assets | 22/27 | €383,724 | €419,154 | +€35,430 | +9.2% |
| Land and buildings | 22 | €383,133 | €418,869 | +€35,735 | +9.3% |
| Plant, machinery and equipment | 23 | €591 | €285 | -€306 | -51.7% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €185,529 | €233,077 | +€47,548 | +25.6% |
| Amounts receivable within one year | 40/41 | €4,061 | €58,405 | +€54,344 | +1,338% |
| Trade receivables | 40 | - | €50,975 | +€50,975 | |
| Other amounts receivable | 41 | €4,061 | €7,430 | +€3,369 | +83.0% |
| Current investments | 50/53 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €23,001 | €174,671 | +€151,670 | +659% |
| Deferred charges and accrued income | 490/1 | €33,467 | - | -€33,467 | |
| Total equity and liabilities | 10/49 | €569,315 | €652,292 | +€82,978 | +14.6% |
| Equity | 10/15 | €183,987 | €291,618 | +€107,630 | +58.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €163,527 | €271,158 | +€107,630 | +65.8% |
| Distributable reserves | 133 | €163,527 | €271,158 | +€107,630 | +65.8% |
| Amounts payable | 17/49 | €385,327 | €360,675 | -€24,652 | -6.4% |
| Amounts payable after more than one year | 17 | €297,314 | €279,551 | -€17,762 | -6.0% |
| Financial debts | 170/4 | €297,314 | €279,551 | -€17,762 | -6.0% |
| Amounts payable within one year | 42/48 | €58,370 | €51,480 | -€6,890 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €16,568 | €17,762 | +€1,195 | +7.2% |
| Financial debts | 43 | €21,025 | €12,847 | -€8,178 | -38.9% |
| Credit institutions | 430/8 | €21,025 | €12,847 | -€8,178 | -38.9% |
| Trade debts | 44 | €2,228 | €3,677 | +€1,449 | +65.1% |
| Suppliers | 440/4 | €2,228 | €3,677 | +€1,449 | +65.1% |
| Taxes, remuneration and social security | 45 | €7,612 | €17,195 | +€9,583 | +126% |
| Taxes | 450/3 | €7,612 | €17,195 | +€9,583 | +126% |
| Other amounts payable | 47/48 | €10,939 | - | -€10,939 | |
| Accrued charges and deferred income | 492/3 | €29,643 | €29,643 | = | 0.0% |
| Non-recurring operating income | 76A | - | €600 | +€600 | |
| Remuneration, social security and pensions | 62 | - | €2,160 | +€2,160 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,221 | €67,065 | +€24,844 | +58.8% |
| Other operating charges | 640/8 | €8,469 | €2,656 | -€5,813 | -68.6% |
| Non-recurring operating charges | 66A | - | €33,467 | +€33,467 | |
| Gross operating margin | 9900 | €193,523 | €263,262 | +€69,739 | +36.0% |
| Operating profit (loss) | 9901 | €142,833 | €157,915 | +€15,082 | +10.6% |
| Financial income | 75/76B | €2,107 | €3,742 | +€1,635 | +77.6% |
| Recurring financial income | 75 | €2,107 | €3,742 | +€1,635 | +77.6% |
| Financial charges | 65/66B | €6,783 | €14,817 | +€8,034 | +118% |
| Recurring financial charges | 65 | €6,783 | €14,817 | +€8,034 | +118% |
| Profit (loss) for the period before taxes | 9903 | €138,158 | €146,840 | +€8,682 | +6.3% |
| Income taxes | 67/77 | €37,845 | €39,210 | +€1,365 | +3.6% |
| Profit (loss) for the period | 9904 | €100,313 | €107,630 | +€7,317 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €100,313 | €107,630 | +€7,317 | +7.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.