PHARA Flex: 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.
PHARA Flex
Largest movements
- Receivables within one year -€30,468
down €30,468 (-8.8%), from €346,813 to €316,345
of which Trade receivables: -€30,687
- Cash -€10,412
down €10,412 (-44.8%), from €23,261 to €12,850
mainly Trade debts (-€115,535) and Contributions, distributions and other (-€50,000)
- Trade debts -€115,535
down €115,535 (-73.0%), from €158,228 to €42,693
- Other debts +€72,022
up €72,022 (+156.5%), from €46,024 to €118,047
- Short-term financial debts +€20,000
new in 2025: €20,000
- Provisions -€16,118
down €16,118 (-37.2%), from €43,345 to €27,228
- Tax, wage and social debts +€12,013
up €12,013 (+31.5%), from €38,124 to €50,137
of which Taxes: +€6,608
- Staff costs +€172,811
up €172,811 (+50.6%), from €341,321 to €514,132
- Gross operating margin +€158,485
up €158,485 (+39.8%), from €398,127 to €556,612
- Taxes +€5,706
up €5,706 (+54.8%), from €10,418 to €16,124
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 | €440,705 | €401,280 | -€39,425 | -8.9% |
| Fixed assets | 21/28 | €20,956 | €20,956 | = | 0.0% |
| Financial fixed assets | 28 | €20,956 | €20,956 | = | 0.0% |
| Current assets | 29/58 | €419,749 | €380,324 | -€39,425 | -9.4% |
| Stocks and contracts in progress | 3 | €46,643 | €48,486 | +€1,842 | +3.9% |
| Stocks | 30/36 | €46,643 | €48,486 | +€1,842 | +3.9% |
| Amounts receivable within one year | 40/41 | €346,813 | €316,345 | -€30,468 | -8.8% |
| Trade receivables | 40 | €291,127 | €260,441 | -€30,687 | -10.5% |
| Other amounts receivable | 41 | €55,685 | €55,904 | +€219 | +0.4% |
| Cash at bank and in hand | 54/58 | €23,261 | €12,850 | -€10,412 | -44.8% |
| Deferred charges and accrued income | 490/1 | €3,032 | €2,643 | -€388 | -12.8% |
| Total equity and liabilities | 10/49 | €440,705 | €401,280 | -€39,425 | -8.9% |
| Equity | 10/15 | €152,360 | €142,437 | -€9,923 | -6.5% |
| Contributions | 10/11 | €41,392 | €41,392 | = | 0.0% |
| Reserves | 13 | €76,743 | €76,743 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,518 | €12,518 | = | 0.0% |
| Distributable reserves | 133 | €64,225 | €64,225 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,225 | €24,302 | -€9,923 | -29.0% |
| Provisions and deferred taxes | 16 | €43,345 | €27,228 | -€16,118 | -37.2% |
| Provisions for liabilities and charges | 160/5 | €43,345 | €27,228 | -€16,118 | -37.2% |
| Environmental obligations | 163 | €43,345 | €27,228 | -€16,118 | -37.2% |
| Amounts payable | 17/49 | €245,000 | €231,616 | -€13,384 | -5.5% |
| Amounts payable within one year | 42/48 | €242,376 | €230,876 | -€11,500 | -4.7% |
| Financial debts | 43 | - | €20,000 | +€20,000 | |
| Credit institutions | 430/8 | - | €20,000 | +€20,000 | |
| Trade debts | 44 | €158,228 | €42,693 | -€115,535 | -73.0% |
| Suppliers | 440/4 | €158,228 | €42,693 | -€115,535 | -73.0% |
| Taxes, remuneration and social security | 45 | €38,124 | €50,137 | +€12,013 | +31.5% |
| Taxes | 450/3 | €11,198 | €17,807 | +€6,608 | +59.0% |
| Remuneration and social security | 454/9 | €26,926 | €32,330 | +€5,404 | +20.1% |
| Other amounts payable | 47/48 | €46,024 | €118,047 | +€72,022 | +156.5% |
| Accrued charges and deferred income | 492/3 | €2,624 | €739 | -€1,885 | -71.8% |
| Remuneration, social security and pensions | 62 | €341,321 | €514,132 | +€172,811 | +50.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€10,764 | -€16,118 | -€5,354 | -49.7% |
| Other operating charges | 640/8 | €5,187 | - | -€5,187 | |
| Gross operating margin | 9900 | €398,127 | €556,612 | +€158,485 | +39.8% |
| Operating profit (loss) | 9901 | €62,383 | €58,598 | -€3,784 | -6.1% |
| Financial income | 75/76B | €976 | €180 | -€796 | -81.5% |
| Recurring financial income | 75 | €976 | €180 | -€796 | -81.5% |
| Financial charges | 65/66B | €2,221 | €2,578 | +€357 | +16.1% |
| Recurring financial charges | 65 | €2,221 | €2,578 | +€357 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €61,138 | €56,200 | -€4,937 | -8.1% |
| Income taxes | 67/77 | €10,418 | €16,124 | +€5,706 | +54.8% |
| Profit (loss) for the period | 9904 | €50,720 | €40,077 | -€10,643 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,720 | €40,077 | -€10,643 | -21.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.