PHARE: 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.
PHARE
Largest movements
- Cash -€687
down €687 (-60.1%), from €1,143 to €457
mainly Net result for the year (-€2,433) and Trade debts (-€1,119)
- Receivables within one year -€577
down €577 (-18.1%), from €3,190 to €2,613
of which Trade receivables: -€658
- Tangible fixed assets -€382
down €382 (-28.8%), from €1,324 to €942
of which Land and buildings: -€280
- Profit (loss) carried forward -€2,433
down €2,433 (-6.2%), from -€38,965 to -€41,398
- Other debts +€1,882
up €1,882 (+8.7%), from €21,574 to €23,457
- Trade debts -€1,119
down €1,119 (-94.9%), from €1,179 to €60
- Turnover +€2,136
up €2,136 (+32.1%), from €6,651 to €8,787
- Purchases and services +€1,647
up €1,647 (+17.2%), from €9,595 to €11,242
- Gross operating margin +€488
up €488 (+16.6%), from -€2,944 to -€2,455
- Other operating charges -€255
down €255 (-20.8%), from €1,223 to €968
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 | €5,657 | €4,012 | -€1,645 | -29.1% |
| Fixed assets | 21/28 | €1,324 | €942 | -€382 | -28.8% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €1,324 | €942 | -€382 | -28.8% |
| Land and buildings | 22 | €1,120 | €840 | -€280 | -25.0% |
| Plant, machinery and equipment | 23 | €204 | €102 | -€102 | -50.0% |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €4,333 | €3,070 | -€1,263 | -29.2% |
| Amounts receivable within one year | 40/41 | €3,190 | €2,613 | -€577 | -18.1% |
| Trade receivables | 40 | €3,135 | €2,477 | -€658 | -21.0% |
| Other amounts receivable | 41 | €55 | €136 | +€81 | +147.7% |
| Cash at bank and in hand | 54/58 | €1,143 | €457 | -€687 | -60.1% |
| Total equity and liabilities | 10/49 | €5,657 | €4,012 | -€1,645 | -29.1% |
| Equity | 10/15 | -€17,448 | -€19,881 | -€2,433 | -13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,917 | €2,917 | = | 0.0% |
| Distributable reserves | 133 | €2,917 | €2,917 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,965 | -€41,398 | -€2,433 | -6.2% |
| Amounts payable | 17/49 | €23,105 | €23,892 | +€788 | +3.4% |
| Amounts payable within one year | 42/48 | €23,105 | €23,892 | +€788 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,179 | €60 | -€1,119 | -94.9% |
| Suppliers | 440/4 | €1,179 | €60 | -€1,119 | -94.9% |
| Taxes, remuneration and social security | 45 | €351 | €376 | +€24 | +6.9% |
| Taxes | 450/3 | €351 | €376 | +€24 | +6.9% |
| Other amounts payable | 47/48 | €21,574 | €23,457 | +€1,882 | +8.7% |
| Turnover | 70 | €6,651 | €8,787 | +€2,136 | +32.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €9,595 | €11,242 | +€1,647 | +17.2% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €382 | €382 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €0 | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €1,223 | €968 | -€255 | -20.8% |
| Gross operating margin | 9900 | -€2,944 | -€2,455 | +€488 | +16.6% |
| Operating profit (loss) | 9901 | -€4,549 | -€3,806 | +€743 | +16.3% |
| Financial income | 75/76B | €1,556 | €1,556 | = | 0.0% |
| Recurring financial income | 75 | €1,556 | €1,556 | = | 0.0% |
| Non-recurring financial income | 76B | - | €1,556 | +€1,556 | |
| Financial charges | 65/66B | €40 | €40 | +€1 | +1.6% |
| Recurring financial charges | 65 | €40 | €40 | +€1 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,033 | -€2,290 | +€743 | +24.5% |
| Income taxes | 67/77 | €61 | €143 | +€82 | +135.3% |
| Profit (loss) for the period | 9904 | -€3,093 | -€2,433 | +€660 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,093 | -€2,433 | +€660 | +21.3% |
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 29 September 2026 via checked.be.