PHAROVENT: 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.
PHAROVENT
Largest movements
- Tangible fixed assets -€38,792
down €38,792 (-4.2%), from €916,913 to €878,121
of which Land and buildings: -€40,868
- Debts after one year -€152,813
down €152,813 (-12.8%), from €1.2m to €1.0m
- Other debts +€135,512
up €135,512 (+26.7%), from €508,292 to €643,804
- Advances received -€69,589
down €69,589 (-100.0%), from €69,589 to €0
- Trade debts -€53,944
down €53,944 (-83.2%), from €64,842 to €10,898
- Reserves +€52,983
up €52,983 (+6.5%), from €816,937 to €869,920
of which Distributable reserves: +€52,983
- Depreciation -€72,791
down €72,791 (-57.8%), from €125,950 to €53,159
- Taxes +€12,324
up €12,324 (+4658.3%), from €265 to €12,589
- Gross operating margin -€8,611
down €8,611 (-4.9%), from €175,569 to €166,958
- Financial charges -€3,746
down €3,746 (-7.1%), from €52,638 to €48,893
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 | €2,931,008 | €2,839,449 | -€91,560 | -3.1% |
| Fixed assets | 21/28 | €2,793,251 | €2,754,460 | -€38,792 | -1.4% |
| Tangible fixed assets | 22/27 | €916,913 | €878,121 | -€38,792 | -4.2% |
| Land and buildings | 22 | €916,288 | €875,420 | -€40,868 | -4.5% |
| Plant, machinery and equipment | 23 | - | €2,337 | +€2,337 | |
| Furniture and vehicles | 24 | €625 | €364 | -€261 | -41.8% |
| Financial fixed assets | 28 | €1,876,339 | €1,876,339 | = | 0.0% |
| Current assets | 29/58 | €137,757 | €84,989 | -€52,768 | -38.3% |
| Amounts receivable within one year | 40/41 | €86,143 | €57,593 | -€28,550 | -33.1% |
| Trade receivables | 40 | €75,054 | €118 | -€74,936 | -99.8% |
| Other amounts receivable | 41 | €11,089 | €57,475 | +€46,386 | +418.3% |
| Cash at bank and in hand | 54/58 | €50,736 | €25,929 | -€24,807 | -48.9% |
| Deferred charges and accrued income | 490/1 | €878 | €1,467 | +€589 | +67.1% |
| Total equity and liabilities | 10/49 | €2,931,008 | €2,839,449 | -€91,560 | -3.1% |
| Equity | 10/15 | €916,937 | €969,920 | +€52,983 | +5.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €816,937 | €869,920 | +€52,983 | +6.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €816,937 | €869,920 | +€52,983 | +6.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,014,071 | €1,869,529 | -€144,543 | -7.2% |
| Amounts payable after more than one year | 17 | €1,195,417 | €1,042,604 | -€152,813 | -12.8% |
| Financial debts | 170/4 | €1,195,417 | €1,042,604 | -€152,813 | -12.8% |
| Amounts payable within one year | 42/48 | €812,080 | €821,302 | +€9,221 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €152,813 | €152,813 | = | 0.0% |
| Trade debts | 44 | €64,842 | €10,898 | -€53,944 | -83.2% |
| Suppliers | 440/4 | €64,842 | €10,898 | -€53,944 | -83.2% |
| Advances received on contracts in progress | 46 | €69,589 | €0 | -€69,589 | -100.0% |
| Taxes, remuneration and social security | 45 | €16,544 | €13,787 | -€2,758 | -16.7% |
| Taxes | 450/3 | €14,644 | €13,787 | -€858 | -5.9% |
| Remuneration and social security | 454/9 | €1,900 | €0 | -€1,900 | -100.0% |
| Other amounts payable | 47/48 | €508,292 | €643,804 | +€135,512 | +26.7% |
| Accrued charges and deferred income | 492/3 | €6,574 | €5,623 | -€951 | -14.5% |
| Non-recurring operating income | 76A | €29,220 | €0 | -€29,220 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,950 | €53,159 | -€72,791 | -57.8% |
| Other operating charges | 640/8 | €1,595 | €1,694 | +€99 | +6.2% |
| Non-recurring operating charges | 66A | €209 | €0 | -€209 | -100.0% |
| Gross operating margin | 9900 | €175,569 | €166,958 | -€8,611 | -4.9% |
| Operating profit (loss) | 9901 | €47,815 | €112,105 | +€64,290 | +134.5% |
| Financial income | 75/76B | €1,109 | €2,359 | +€1,250 | +112.7% |
| Recurring financial income | 75 | €1,109 | €2,359 | +€1,250 | +112.7% |
| Financial charges | 65/66B | €52,638 | €48,893 | -€3,746 | -7.1% |
| Recurring financial charges | 65 | €52,638 | €48,893 | -€3,746 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,713 | €65,572 | +€69,285 | |
| Income taxes | 67/77 | €265 | €12,589 | +€12,324 | +4658.3% |
| Profit (loss) for the period | 9904 | -€3,978 | €52,983 | +€56,961 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,978 | €52,983 | +€56,961 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.