PHANTOM INK: 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.
PHANTOM INK
Largest movements
- Cash +€11,226
up €11,226 (+118.4%), from €9,479 to €20,705
mainly Net result for the year (+€11,810) and Depreciation (+€2,596)
- Tangible fixed assets -€2,596
down €2,596 (-36.5%), from €7,105 to €4,508
of which Furniture and vehicles: -€2,002
- Stocks and contracts -€1,137
down €1,137 (-40.5%), from €2,809 to €1,672
- Receivables within one year +€642
up €642 (+28.6%), from €2,246 to €2,888
of which Other amounts receivable: +€777
- Reserves +€11,810
up €11,810 (+211.5%), from €5,584 to €17,394
- Other debts -€1,681
down €1,681 (-16.2%), from €10,348 to €8,668
- Tax, wage and social debts -€1,577
no longer reported in 2025 (was €1,577)
- Trade debts -€342
down €342 (-25.0%), from €1,369 to €1,027
- Gross operating margin +€8,312
up €8,312 (+85.2%), from €9,756 to €18,068
- Taxes +€1,673
up €1,673 (+92.0%), from €1,819 to €3,492
- Depreciation +€641
up €641 (+32.8%), from €1,956 to €2,596
- Other operating charges -€234
down €234 (-79.1%), from €296 to €62
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 | €22,019 | €30,159 | +€8,141 | +37.0% |
| Fixed assets | 21/28 | €7,105 | €4,508 | -€2,596 | -36.5% |
| Tangible fixed assets | 22/27 | €7,105 | €4,508 | -€2,596 | -36.5% |
| Plant, machinery and equipment | 23 | €900 | €305 | -€595 | -66.1% |
| Furniture and vehicles | 24 | €6,205 | €4,204 | -€2,002 | -32.3% |
| Current assets | 29/58 | €14,914 | €25,651 | +€10,737 | +72.0% |
| Stocks and contracts in progress | 3 | €2,809 | €1,672 | -€1,137 | -40.5% |
| Stocks | 30/36 | €2,809 | €1,672 | -€1,137 | -40.5% |
| Amounts receivable within one year | 40/41 | €2,246 | €2,888 | +€642 | +28.6% |
| Trade receivables | 40 | €135 | - | -€135 | |
| Other amounts receivable | 41 | €2,111 | €2,888 | +€777 | +36.8% |
| Cash at bank and in hand | 54/58 | €9,479 | €20,705 | +€11,226 | +118.4% |
| Deferred charges and accrued income | 490/1 | €380 | €386 | +€6 | +1.5% |
| Total equity and liabilities | 10/49 | €22,019 | €30,159 | +€8,141 | +37.0% |
| Equity | 10/15 | €8,584 | €20,394 | +€11,810 | +137.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €5,584 | €17,394 | +€11,810 | +211.5% |
| Distributable reserves | 133 | €5,584 | €17,394 | +€11,810 | +211.5% |
| Amounts payable | 17/49 | €13,435 | €9,765 | -€3,670 | -27.3% |
| Amounts payable within one year | 42/48 | €13,295 | €9,695 | -€3,600 | -27.1% |
| Trade debts | 44 | €1,369 | €1,027 | -€342 | -25.0% |
| Suppliers | 440/4 | €1,369 | €1,027 | -€342 | -25.0% |
| Taxes, remuneration and social security | 45 | €1,577 | - | -€1,577 | |
| Remuneration and social security | 454/9 | €1,577 | - | -€1,577 | |
| Other amounts payable | 47/48 | €10,348 | €8,668 | -€1,681 | -16.2% |
| Accrued charges and deferred income | 492/3 | €140 | €70 | -€70 | -49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,956 | €2,596 | +€641 | +32.8% |
| Other operating charges | 640/8 | €296 | €62 | -€234 | -79.1% |
| Non-recurring operating charges | 66A | €2,421 | - | -€2,421 | |
| Gross operating margin | 9900 | €9,756 | €18,068 | +€8,312 | +85.2% |
| Operating profit (loss) | 9901 | €5,083 | €15,410 | +€10,326 | +203.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €94 | €107 | +€13 | +13.5% |
| Recurring financial charges | 65 | €94 | €107 | +€13 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €4,989 | €15,302 | +€10,314 | +206.7% |
| Income taxes | 67/77 | €1,819 | €3,492 | +€1,673 | +92.0% |
| Profit (loss) for the period | 9904 | €3,170 | €11,810 | +€8,640 | +272.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,170 | €11,810 | +€8,640 | +272.6% |
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.