Pharo Consulting: 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.
Pharo Consulting
Largest movements
- Current investments +€88,862
up €88,862 (+67.8%), from €131,102 to €219,964
- Tangible fixed assets -€5,529
down €5,529 (-17.2%), from €32,060 to €26,531
of which Furniture and vehicles: -€6,612
- Cash +€3,190
up €3,190 (+215%), from €1,486 to €4,675
mainly Net result for the year (+€64,105) and Tax, wage and social debts (+€23,500)
- Profit (loss) carried forward +€64,105
up €64,105 (+41.1%), from €155,941 to €220,045
- Tax, wage and social debts +€23,500
up €23,500 (+105%), from €22,325 to €45,825
- Financial charges +€15,467
up €15,467 (+23,817%), from €65 to €15,532
- Gross operating margin +€8,973
up €8,973 (+9.8%), from €91,635 to €100,607
- Depreciation +€4,486
up €4,486 (+158%), from €2,843 to €7,329
- Financial income +€3,292
up €3,292 (+853%), from €386 to €3,677
- Taxes -€2,039
down €2,039 (-10.7%), from €19,010 to €16,970
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 | €179,407 | €267,067 | +€87,661 | +48.9% |
| Fixed assets | 21/28 | €32,060 | €26,531 | -€5,529 | -17.2% |
| Tangible fixed assets | 22/27 | €32,060 | €26,531 | -€5,529 | -17.2% |
| Land and buildings | 22 | - | €1,800 | +€1,800 | |
| Plant, machinery and equipment | 23 | €1,137 | €420 | -€717 | -63.0% |
| Furniture and vehicles | 24 | €30,922 | €24,310 | -€6,612 | -21.4% |
| Current assets | 29/58 | €147,347 | €240,537 | +€93,190 | +63.2% |
| Amounts receivable within one year | 40/41 | €13,813 | €14,913 | +€1,100 | +8.0% |
| Trade receivables | 40 | €13,813 | €14,913 | +€1,100 | +8.0% |
| Current investments | 50/53 | €131,102 | €219,964 | +€88,862 | +67.8% |
| Cash at bank and in hand | 54/58 | €1,486 | €4,675 | +€3,190 | +215% |
| Deferred charges and accrued income | 490/1 | €946 | €984 | +€38 | +4.0% |
| Total equity and liabilities | 10/49 | €179,407 | €267,067 | +€87,661 | +48.9% |
| Equity | 10/15 | €156,941 | €221,045 | +€64,105 | +40.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,941 | €220,045 | +€64,105 | +41.1% |
| Amounts payable | 17/49 | €22,466 | €46,022 | +€23,556 | +105% |
| Amounts payable within one year | 42/48 | €22,466 | €46,022 | +€23,556 | +105% |
| Trade debts | 44 | €140 | €166 | +€25 | +18.0% |
| Suppliers | 440/4 | €140 | €166 | +€25 | +18.0% |
| Taxes, remuneration and social security | 45 | €22,325 | €45,825 | +€23,500 | +105% |
| Taxes | 450/3 | €22,325 | €45,825 | +€23,500 | +105% |
| Other amounts payable | 47/48 | - | €31 | +€31 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,843 | €7,329 | +€4,486 | +158% |
| Other operating charges | 640/8 | €959 | €349 | -€610 | -63.6% |
| Gross operating margin | 9900 | €91,635 | €100,607 | +€8,973 | +9.8% |
| Operating profit (loss) | 9901 | €87,832 | €92,929 | +€5,097 | +5.8% |
| Financial income | 75/76B | €386 | €3,677 | +€3,292 | +853% |
| Recurring financial income | 75 | €386 | €3,677 | +€3,292 | +853% |
| Financial charges | 65/66B | €65 | €15,532 | +€15,467 | +23,817% |
| Recurring financial charges | 65 | €65 | €15,532 | +€15,467 | +23,817% |
| Profit (loss) for the period before taxes | 9903 | €88,153 | €81,075 | -€7,078 | -8.0% |
| Income taxes | 67/77 | €19,010 | €16,970 | -€2,039 | -10.7% |
| Profit (loss) for the period | 9904 | €69,143 | €64,105 | -€5,039 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,143 | €64,105 | -€5,039 | -7.3% |
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 17 October 2026 via checked.be.