PHARI: 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.
PHARI
Largest movements
- Financial fixed assets +€1.0m
up €1.0m (+401%), from €249,468 to €1.3m
- Cash -€104,572
down €104,572 (-93.7%), from €111,560 to €6,988
mainly Investment in fixed assets (net) (-€1.0m) and Current portion of long-term debt (-€27,916)
- Stocks and contracts +€20,000
new in 2024: €20,000
- Tangible fixed assets -€13,369
down €13,369 (-22.1%), from €60,467 to €47,098
of which Furniture and vehicles: -€12,924
- Debts after one year +€842,925
up €842,925 (+412%), from €204,473 to €1.0m
- Profit (loss) carried forward +€61,617
up €61,617 (+45.5%), from €135,448 to €197,064
- Current portion of long-term debt -€27,916
down €27,916 (-57.4%), from €48,662 to €20,747
- Trade debts +€19,790
up €19,790 (+9,374%), from €211 to €20,001
- Gross operating margin +€44,258
up €44,258 (+56.8%), from €77,892 to €122,150
- Financial charges +€24,828
up €24,828 (+511%), from €4,861 to €29,689
- Depreciation +€9,877
up €9,877 (+283%), from €3,491 to €13,369
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €421,942 | €1,326,356 | +€904,414 | +214% |
| Fixed assets | 21/28 | €309,935 | €1,297,124 | +€987,189 | +319% |
| Tangible fixed assets | 22/27 | €60,467 | €47,098 | -€13,369 | -22.1% |
| Land and buildings | 22 | €1,158 | €713 | -€445 | -38.4% |
| Furniture and vehicles | 24 | €59,308 | €46,385 | -€12,924 | -21.8% |
| Financial fixed assets | 28 | €249,468 | €1,250,026 | +€1.0m | +401% |
| Current assets | 29/58 | €112,007 | €29,232 | -€82,775 | -73.9% |
| Stocks and contracts in progress | 3 | - | €20,000 | +€20,000 | |
| Contracts in progress | 37 | - | €20,000 | +€20,000 | |
| Amounts receivable within one year | 40/41 | €232 | €2,141 | +€1,909 | +824% |
| Trade receivables | 40 | €232 | - | -€232 | |
| Other amounts receivable | 41 | - | €2,141 | +€2,141 | |
| Cash at bank and in hand | 54/58 | €111,560 | €6,988 | -€104,572 | -93.7% |
| Deferred charges and accrued income | 490/1 | €216 | €103 | -€112 | -52.1% |
| Total equity and liabilities | 10/49 | €421,942 | €1,326,356 | +€904,414 | +214% |
| Equity | 10/15 | €138,448 | €200,064 | +€61,617 | +44.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €135,448 | €197,064 | +€61,617 | +45.5% |
| Amounts payable | 17/49 | €283,495 | €1,126,292 | +€842,797 | +297% |
| Amounts payable after more than one year | 17 | €204,473 | €1,047,398 | +€842,925 | +412% |
| Financial debts | 170/4 | €204,473 | €1,047,398 | +€842,925 | +412% |
| Amounts payable within one year | 42/48 | €74,901 | €69,936 | -€4,966 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €48,662 | €20,747 | -€27,916 | -57.4% |
| Financial debts | 43 | - | €4,582 | +€4,582 | |
| Credit institutions | 430/8 | - | €4,582 | +€4,582 | |
| Trade debts | 44 | €211 | €20,001 | +€19,790 | +9,374% |
| Suppliers | 440/4 | €211 | €20,001 | +€19,790 | +9,374% |
| Taxes, remuneration and social security | 45 | €17,853 | €17,853 | = | 0.0% |
| Taxes | 450/3 | €17,853 | €17,853 | = | 0.0% |
| Other amounts payable | 47/48 | €8,175 | €6,753 | -€1,421 | -17.4% |
| Accrued charges and deferred income | 492/3 | €4,120 | €8,958 | +€4,838 | +117% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,491 | €13,369 | +€9,877 | +283% |
| Other operating charges | 640/8 | €130 | €322 | +€192 | +148% |
| Gross operating margin | 9900 | €77,892 | €122,150 | +€44,258 | +56.8% |
| Operating profit (loss) | 9901 | €74,271 | €108,459 | +€34,189 | +46.0% |
| Financial charges | 65/66B | €4,861 | €29,689 | +€24,828 | +511% |
| Recurring financial charges | 65 | €4,861 | €29,689 | +€24,828 | +511% |
| Profit (loss) for the period before taxes | 9903 | €69,409 | €78,770 | +€9,361 | +13.5% |
| Income taxes | 67/77 | €17,853 | €17,153 | -€700 | -3.9% |
| Profit (loss) for the period | 9904 | €51,556 | €61,617 | +€10,061 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €51,556 | €61,617 | +€10,061 | +19.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.