PHARDEN: 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.
PHARDEN
Largest movements
- Cash +€99,978
up €99,978 (+69.5%), from €143,857 to €243,835
mainly Net result for the year (+€132,324) and Other debts (+€104,942)
- Tangible fixed assets +€65,247
up €65,247 (+22.0%), from €296,424 to €361,671
of which Plant, machinery and equipment: +€79,078
- Receivables within one year -€57,217
down €57,217 (-18.7%), from €305,336 to €248,120
of which Trade receivables: -€89,202
- Deferred charges and accrued income -€13,873
down €13,873 (-68.2%), from €20,349 to €6,476
- Other debts +€104,942
up €104,942 (+47.5%), from €221,107 to €326,049
- Profit (loss) carried forward +€57,324
up €57,324 (+36.0%), from €159,338 to €216,662
- Current portion of long-term debt -€47,223
down €47,223 (-53.6%), from €88,162 to €40,939
- Trade debts -€12,656
down €12,656 (-3.3%), from €379,949 to €367,293
- Gross operating margin -€58,840
down €58,840 (-8.8%), from €668,142 to €609,302
- Taxes -€15,373
down €15,373 (-25.4%), from €60,443 to €45,070
- Staff costs -€13,711
down €13,711 (-3.5%), from €388,650 to €374,938
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 | €1,041,239 | €1,145,152 | +€103,913 | +10.0% |
| Fixed assets | 21/28 | €302,621 | €367,868 | +€65,247 | +21.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €296,424 | €361,671 | +€65,247 | +22.0% |
| Land and buildings | 22 | €240,407 | €209,861 | -€30,546 | -12.7% |
| Plant, machinery and equipment | 23 | €10,346 | €89,424 | +€79,078 | +764% |
| Furniture and vehicles | 24 | €45,671 | €62,386 | +€16,714 | +36.6% |
| Financial fixed assets | 28 | €6,197 | €6,197 | = | 0.0% |
| Current assets | 29/58 | €738,618 | €777,284 | +€38,666 | +5.2% |
| Stocks and contracts in progress | 3 | €269,075 | €278,853 | +€9,778 | +3.6% |
| Stocks | 30/36 | €269,075 | €278,853 | +€9,778 | +3.6% |
| Amounts receivable within one year | 40/41 | €305,336 | €248,120 | -€57,217 | -18.7% |
| Trade receivables | 40 | €256,128 | €166,926 | -€89,202 | -34.8% |
| Other amounts receivable | 41 | €49,208 | €81,194 | +€31,985 | +65.0% |
| Cash at bank and in hand | 54/58 | €143,857 | €243,835 | +€99,978 | +69.5% |
| Deferred charges and accrued income | 490/1 | €20,349 | €6,476 | -€13,873 | -68.2% |
| Total equity and liabilities | 10/49 | €1,041,239 | €1,145,152 | +€103,913 | +10.0% |
| Equity | 10/15 | €227,538 | €284,862 | +€57,324 | +25.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €159,338 | €216,662 | +€57,324 | +36.0% |
| Amounts payable | 17/49 | €813,701 | €860,290 | +€46,589 | +5.7% |
| Amounts payable after more than one year | 17 | €58,334 | €52,629 | -€5,705 | -9.8% |
| Financial debts | 170/4 | €58,334 | €52,629 | -€5,705 | -9.8% |
| Amounts payable within one year | 42/48 | €755,366 | €807,660 | +€52,294 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €88,162 | €40,939 | -€47,223 | -53.6% |
| Trade debts | 44 | €379,949 | €367,293 | -€12,656 | -3.3% |
| Suppliers | 440/4 | €379,949 | €367,293 | -€12,656 | -3.3% |
| Taxes, remuneration and social security | 45 | €66,148 | €73,379 | +€7,231 | +10.9% |
| Taxes | 450/3 | €3,726 | €9,749 | +€6,023 | +162% |
| Remuneration and social security | 454/9 | €62,422 | €63,630 | +€1,208 | +1.9% |
| Other amounts payable | 47/48 | €221,107 | €326,049 | +€104,942 | +47.5% |
| Remuneration, social security and pensions | 62 | €388,650 | €374,938 | -€13,711 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,834 | €55,534 | +€2,700 | +5.1% |
| Other operating charges | 640/8 | €1,535 | €1,395 | -€140 | -9.1% |
| Non-recurring operating charges | 66A | -€55 | - | +€55 | |
| Gross operating margin | 9900 | €668,142 | €609,302 | -€58,840 | -8.8% |
| Operating profit (loss) | 9901 | €225,178 | €177,434 | -€47,744 | -21.2% |
| Financial income | 75/76B | €5,780 | €8,535 | +€2,755 | +47.7% |
| Recurring financial income | 75 | €5,780 | €8,535 | +€2,755 | +47.7% |
| Financial charges | 65/66B | €11,501 | €8,576 | -€2,925 | -25.4% |
| Recurring financial charges | 65 | €11,501 | €8,576 | -€2,925 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €219,458 | €177,394 | -€42,064 | -19.2% |
| Income taxes | 67/77 | €60,443 | €45,070 | -€15,373 | -25.4% |
| Profit (loss) for the period | 9904 | €159,015 | €132,324 | -€26,691 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €159,015 | €132,324 | -€26,691 | -16.8% |
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 14 October 2026 via checked.be.