PHAM - TRAN: 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.
PHAM - TRAN
Largest movements
- Tangible fixed assets -€61,417
down €61,417 (-4.3%), from €1.4m to €1.4m
of which Land and buildings: -€39,806
- Debts after one year -€66,214
down €66,214 (-11.5%), from €576,775 to €510,561
- Accrued charges and deferred income +€56,000
new in 2025: €56,000
- Trade debts -€55,572
down €55,572 (-76.9%), from €72,227 to €16,655
- Other debts +€26,635
up €26,635 (+23.2%), from €114,951 to €141,586
- Turnover +€75,205
up €75,205 (+39.6%), from €189,792 to €264,997
- Depreciation +€64,229
new in 2025: €64,229
- Gross operating margin +€41,645
up €41,645 (+36.5%), from €114,041 to €155,686
- Purchases and services +€33,560
up €33,560 (+44.3%), from €75,751 to €109,311
- Other operating charges -€25,876
down €25,876 (-27.6%), from €93,923 to €68,047
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.
Derived cash bridge
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 | €1,426,796 | €1,377,067 | -€49,729 | -3.5% |
| Fixed assets | 21/28 | €1,419,131 | €1,357,714 | -€61,417 | -4.3% |
| Tangible fixed assets | 22/27 | €1,419,131 | €1,357,714 | -€61,417 | -4.3% |
| Land and buildings | 22 | €1,116,779 | €1,076,973 | -€39,806 | -3.6% |
| Plant, machinery and equipment | 23 | €249,227 | €234,616 | -€14,611 | -5.9% |
| Furniture and vehicles | 24 | €15,923 | €15,324 | -€599 | -3.8% |
| Other tangible fixed assets | 26 | €37,202 | €30,801 | -€6,401 | -17.2% |
| Current assets | 29/58 | €7,665 | €19,353 | +€11,688 | +152% |
| Cash at bank and in hand | 54/58 | €7,665 | €19,353 | +€11,688 | +152% |
| Total equity and liabilities | 10/49 | €1,426,796 | €1,377,067 | -€49,729 | -3.5% |
| Equity | 10/15 | €483,538 | €486,559 | +€3,021 | +0.6% |
| Contributions | 10/11 | €252,851 | €252,851 | = | 0.0% |
| Capital | 10 | €252,851 | €252,851 | = | 0.0% |
| Issued capital | 100 | €252,851 | €252,851 | = | 0.0% |
| Reserves | 13 | €6,921 | €6,921 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,921 | €6,921 | = | 0.0% |
| Legal reserve | 130 | €6,921 | €6,921 | = | 0.0% |
| Profit (loss) carried forward | 14 | €223,766 | €226,787 | +€3,021 | +1.4% |
| Amounts payable | 17/49 | €943,258 | €890,508 | -€52,750 | -5.6% |
| Amounts payable after more than one year | 17 | €576,775 | €510,561 | -€66,214 | -11.5% |
| Financial debts | 170/4 | €576,775 | €510,561 | -€66,214 | -11.5% |
| Amounts payable within one year | 42/48 | €366,483 | €323,947 | -€42,536 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €165,305 | €165,706 | +€401 | +0.2% |
| Trade debts | 44 | €72,227 | €16,655 | -€55,572 | -76.9% |
| Suppliers | 440/4 | €72,227 | €16,655 | -€55,572 | -76.9% |
| Taxes, remuneration and social security | 45 | €14,000 | - | -€14,000 | |
| Taxes | 450/3 | €14,000 | - | -€14,000 | |
| Other amounts payable | 47/48 | €114,951 | €141,586 | +€26,635 | +23.2% |
| Accrued charges and deferred income | 492/3 | - | €56,000 | +€56,000 | |
| Turnover | 70 | €189,792 | €264,997 | +€75,205 | +39.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €75,751 | €109,311 | +€33,560 | +44.3% |
| Remuneration, social security and pensions | 62 | €982 | €1,987 | +€1,005 | +102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €64,229 | +€64,229 | |
| Other operating charges | 640/8 | €93,923 | €68,047 | -€25,876 | -27.6% |
| Gross operating margin | 9900 | €114,041 | €155,686 | +€41,645 | +36.5% |
| Operating profit (loss) | 9901 | €19,136 | €21,423 | +€2,287 | +12.0% |
| Financial charges | 65/66B | €22,551 | €19,653 | -€2,898 | -12.9% |
| Recurring financial charges | 65 | €22,551 | €19,653 | -€2,898 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,415 | €1,770 | +€5,185 | |
| Transfer from deferred taxes | 780 | - | €1,251 | +€1,251 | |
| Profit (loss) for the period | 9904 | -€3,415 | €3,021 | +€6,436 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,415 | €3,021 | +€6,436 |
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 18 October 2026 via checked.be.