PHAOS: 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.
PHAOS
Largest movements
- Tangible fixed assets +€9,724
up €9,724 (+82.6%), from €11,767 to €21,491
of which Plant, machinery and equipment: +€6,163
- Receivables within one year +€8,691
up €8,691 (+191.5%), from €4,539 to €13,230
of which Trade receivables: +€8,691
- Deferred charges and accrued income +€1,264
up €1,264 (+413.5%), from €306 to €1,570
- Cash +€1,089
up €1,089 (+15.8%), from €6,895 to €7,984
mainly Net result for the year (+€11,803) and Current portion of long-term debt (+€8,621)
- Profit (loss) carried forward +€11,803
up €11,803 (+35.2%), from -€33,490 to -€21,686
- Other debts -€9,716
down €9,716 (-21.3%), from €45,516 to €35,800
- Current portion of long-term debt +€8,621
new in 2025: €8,621
- Trade debts +€4,680
up €4,680 (+166.7%), from €2,807 to €7,488
- Tax, wage and social debts +€4,055
up €4,055 (+60.8%), from €6,673 to €10,728
of which Taxes: +€4,055
- Gross operating margin +€12,015
up €12,015 (+118.8%), from €10,116 to €22,131
- Taxes +€4,505
up €4,505 (+2582.1%), from €174 to €4,680
- Financial charges -€1,326
down €1,326 (-93.9%), from €1,413 to €87
- Financial income +€983
up €983 (+4324.7%), from €23 to €1,006
of which Non-recurring financial income: +€600
- Depreciation +€376
up €376 (+6.7%), from €5,599 to €5,975
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 | €23,507 | €44,275 | +€20,769 | +88.4% |
| Fixed assets | 21/28 | €11,767 | €21,491 | +€9,724 | +82.6% |
| Tangible fixed assets | 22/27 | €11,767 | €21,491 | +€9,724 | +82.6% |
| Plant, machinery and equipment | 23 | €7,535 | €13,698 | +€6,163 | +81.8% |
| Furniture and vehicles | 24 | €4,233 | €7,793 | +€3,561 | +84.1% |
| Current assets | 29/58 | €11,739 | €22,784 | +€11,045 | +94.1% |
| Amounts receivable within one year | 40/41 | €4,539 | €13,230 | +€8,691 | +191.5% |
| Trade receivables | 40 | €4,539 | €13,230 | +€8,691 | +191.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €6,895 | €7,984 | +€1,089 | +15.8% |
| Deferred charges and accrued income | 490/1 | €306 | €1,570 | +€1,264 | +413.5% |
| Total equity and liabilities | 10/49 | €23,507 | €44,275 | +€20,769 | +88.4% |
| Equity | 10/15 | -€31,490 | -€19,686 | +€11,803 | +37.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,490 | -€21,686 | +€11,803 | +35.2% |
| Amounts payable | 17/49 | €54,996 | €63,962 | +€8,965 | +16.3% |
| Amounts payable within one year | 42/48 | €54,996 | €63,962 | +€8,965 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | - | €8,621 | +€8,621 | |
| Financial debts | 43 | €0 | €1,325 | +€1,325 | |
| Credit institutions | 430/8 | €0 | €1,325 | +€1,325 | |
| Trade debts | 44 | €2,807 | €7,488 | +€4,680 | +166.7% |
| Suppliers | 440/4 | €2,807 | €7,488 | +€4,680 | +166.7% |
| Taxes, remuneration and social security | 45 | €6,673 | €10,728 | +€4,055 | +60.8% |
| Taxes | 450/3 | €5,073 | €9,128 | +€4,055 | +79.9% |
| Remuneration and social security | 454/9 | €1,600 | €1,600 | = | 0.0% |
| Other amounts payable | 47/48 | €45,516 | €35,800 | -€9,716 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,599 | €5,975 | +€376 | +6.7% |
| Other operating charges | 640/8 | €741 | €592 | -€149 | -20.1% |
| Gross operating margin | 9900 | €10,116 | €22,131 | +€12,015 | +118.8% |
| Operating profit (loss) | 9901 | €3,776 | €15,564 | +€11,788 | +312.2% |
| Financial income | 75/76B | €23 | €1,006 | +€983 | +4324.7% |
| Recurring financial income | 75 | €23 | €406 | +€383 | +1685.0% |
| Non-recurring financial income | 76B | - | €600 | +€600 | |
| Financial charges | 65/66B | €1,413 | €87 | -€1,326 | -93.9% |
| Recurring financial charges | 65 | €1,413 | €87 | -€1,326 | -93.9% |
| Profit (loss) for the period before taxes | 9903 | €2,386 | €16,483 | +€14,097 | +590.8% |
| Income taxes | 67/77 | €174 | €4,680 | +€4,505 | +2582.1% |
| Profit (loss) for the period | 9904 | €2,211 | €11,803 | +€9,592 | +433.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,211 | €11,803 | +€9,592 | +433.7% |
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 4 October 2026 via checked.be.