PHARZEN: 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.
PHARZEN
Largest movements
- Tangible fixed assets -€6,598
down €6,598 (-27.1%), from €24,384 to €17,786
- Cash +€3,626
up €3,626 (+21.8%), from €16,621 to €20,246
mainly Depreciation (+€7,506) and Other debts (+€5,904)
- Receivables within one year +€1,384
up €1,384 (+14.3%), from €9,665 to €11,050
of which Trade receivables: +€1,063
- Deferred charges and accrued income -€575
down €575 (-92.1%), from €624 to €50
- Debts after one year -€6,956
down €6,956 (-70.4%), from €9,876 to €2,921
- Other debts +€5,904
up €5,904 (+309.7%), from €1,907 to €7,811
- Profit (loss) carried forward -€4,625
down €4,625 (-210.1%), from -€2,201 to -€6,826
- Tax, wage and social debts +€2,740
up €2,740 (+80.2%), from €3,418 to €6,158
- Trade debts +€699
new in 2025: €699
- Gross operating margin +€8,835
up €8,835, from -€5,234 to €3,601
- Other operating charges -€863
down €863 (-71.1%), from €1,215 to €352
- Depreciation -€311
down €311 (-4.0%), from €7,817 to €7,506
- Taxes -€286
down €286 (-68.3%), from €418 to €133
- Financial charges -€172
down €172 (-42.0%), from €408 to €237
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 | €51,294 | €49,132 | -€2,162 | -4.2% |
| Fixed assets | 21/28 | €24,384 | €17,786 | -€6,598 | -27.1% |
| Tangible fixed assets | 22/27 | €24,384 | €17,786 | -€6,598 | -27.1% |
| Furniture and vehicles | 24 | €24,384 | €17,786 | -€6,598 | -27.1% |
| Current assets | 29/58 | €26,910 | €31,346 | +€4,436 | +16.5% |
| Amounts receivable within one year | 40/41 | €9,665 | €11,050 | +€1,384 | +14.3% |
| Trade receivables | 40 | €8,620 | €9,682 | +€1,063 | +12.3% |
| Other amounts receivable | 41 | €1,046 | €1,367 | +€321 | +30.7% |
| Cash at bank and in hand | 54/58 | €16,621 | €20,246 | +€3,626 | +21.8% |
| Deferred charges and accrued income | 490/1 | €624 | €50 | -€575 | -92.1% |
| Total equity and liabilities | 10/49 | €51,294 | €49,132 | -€2,162 | -4.2% |
| Equity | 10/15 | €29,212 | €24,587 | -€4,625 | -15.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €11,413 | €11,413 | = | 0.0% |
| Distributable reserves | 133 | €11,413 | €11,413 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,201 | -€6,826 | -€4,625 | -210.1% |
| Amounts payable | 17/49 | €22,082 | €24,545 | +€2,463 | +11.2% |
| Amounts payable after more than one year | 17 | €9,876 | €2,921 | -€6,956 | -70.4% |
| Financial debts | 170/4 | €9,876 | €2,921 | -€6,956 | -70.4% |
| Amounts payable within one year | 42/48 | €12,206 | €21,624 | +€9,419 | +77.2% |
| Current portion of amounts payable after more than one year | 42 | €6,881 | €6,956 | +€75 | +1.1% |
| Trade debts | 44 | - | €699 | +€699 | |
| Suppliers | 440/4 | - | €699 | +€699 | |
| Taxes, remuneration and social security | 45 | €3,418 | €6,158 | +€2,740 | +80.2% |
| Taxes | 450/3 | €3,418 | €6,158 | +€2,740 | +80.2% |
| Other amounts payable | 47/48 | €1,907 | €7,811 | +€5,904 | +309.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,817 | €7,506 | -€311 | -4.0% |
| Other operating charges | 640/8 | €1,215 | €352 | -€863 | -71.1% |
| Gross operating margin | 9900 | -€5,234 | €3,601 | +€8,835 | |
| Operating profit (loss) | 9901 | -€14,266 | -€4,256 | +€10,009 | +70.2% |
| Financial income | 75/76B | €7 | €1 | -€6 | -92.4% |
| Recurring financial income | 75 | €7 | €1 | -€6 | -92.4% |
| Financial charges | 65/66B | €408 | €237 | -€172 | -42.0% |
| Recurring financial charges | 65 | €408 | €237 | -€172 | -42.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,667 | -€4,492 | +€10,175 | +69.4% |
| Income taxes | 67/77 | €418 | €133 | -€286 | -68.3% |
| Profit (loss) for the period | 9904 | -€15,086 | -€4,625 | +€10,461 | +69.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,086 | -€4,625 | +€10,461 | +69.3% |
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 11 October 2026 via checked.be.