PHASE Insurance: 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.
PHASE Insurance
Largest movements
- Current investments -€200,000
no longer reported in 2024 (was €200,000)
- Cash +€188,734
up €188,734 (+154%), from €122,448 to €311,181
mainly Current investments (+€200,000) and Investment in fixed assets (net) (+€121,229)
- Tangible fixed assets -€147,983
down €147,983 (-43.2%), from €342,792 to €194,809
of which Land and buildings: -€146,529
- Intangible fixed assets -€20,325
down €20,325 (-27.6%), from €73,617 to €53,292
- Other debts -€220,000
down €220,000 (-84.6%), from €260,000 to €40,000
- Trade debts +€48,058
up €48,058 (+1,903%), from €2,525 to €50,582
- Debts after one year -€15,606
down €15,606 (-29.6%), from €52,696 to €37,090
- Tax, wage and social debts +€8,648
up €8,648 (+75.4%), from €11,466 to €20,115
- Profit (loss) carried forward +€8,569
up €8,569 (+24.6%), from €34,882 to €43,451
- Gross operating margin -€162,928
down €162,928 (-35.6%), from €457,930 to €295,002
- Staff costs +€76,565
up €76,565 (+70.2%), from €109,079 to €185,644
- Depreciation -€22,956
down €22,956 (-32.8%), from €70,036 to €47,079
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 | €794,831 | €619,631 | -€175,200 | -22.0% |
| Fixed assets | 21/28 | €416,408 | €248,100 | -€168,308 | -40.4% |
| Intangible fixed assets | 21 | €73,617 | €53,292 | -€20,325 | -27.6% |
| Tangible fixed assets | 22/27 | €342,792 | €194,809 | -€147,983 | -43.2% |
| Land and buildings | 22 | €338,840 | €192,311 | -€146,529 | -43.2% |
| Plant, machinery and equipment | 23 | €170 | - | -€170 | |
| Furniture and vehicles | 24 | €3,782 | €2,497 | -€1,284 | -34.0% |
| Current assets | 29/58 | €378,423 | €371,531 | -€6,892 | -1.8% |
| Amounts receivable within one year | 40/41 | €52,945 | €54,351 | +€1,406 | +2.7% |
| Trade receivables | 40 | €38,084 | €51,168 | +€13,084 | +34.4% |
| Other amounts receivable | 41 | €14,862 | €3,183 | -€11,678 | -78.6% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €122,448 | €311,181 | +€188,734 | +154% |
| Deferred charges and accrued income | 490/1 | €3,030 | €5,998 | +€2,968 | +97.9% |
| Total equity and liabilities | 10/49 | €794,831 | €619,631 | -€175,200 | -22.0% |
| Equity | 10/15 | €444,178 | €452,571 | +€8,393 | +1.9% |
| Contributions | 10/11 | €372,000 | €372,000 | = | 0.0% |
| Reserves | 13 | €37,296 | €37,120 | -€176 | -0.5% |
| Tax-exempt reserves | 132 | €704 | €528 | -€176 | -25.0% |
| Distributable reserves | 133 | €36,592 | €36,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,882 | €43,451 | +€8,569 | +24.6% |
| Provisions and deferred taxes | 16 | €176 | €132 | -€44 | -25.0% |
| Deferred taxes | 168 | €176 | €132 | -€44 | -25.0% |
| Amounts payable | 17/49 | €350,478 | €166,928 | -€183,549 | -52.4% |
| Amounts payable after more than one year | 17 | €52,696 | €37,090 | -€15,606 | -29.6% |
| Financial debts | 170/4 | €52,696 | €37,090 | -€15,606 | -29.6% |
| Amounts payable within one year | 42/48 | €297,782 | €129,838 | -€167,943 | -56.4% |
| Current portion of amounts payable after more than one year | 42 | €23,791 | €19,141 | -€4,650 | -19.5% |
| Trade debts | 44 | €2,525 | €50,582 | +€48,058 | +1,903% |
| Suppliers | 440/4 | €2,525 | €50,582 | +€48,058 | +1,903% |
| Taxes, remuneration and social security | 45 | €11,466 | €20,115 | +€8,648 | +75.4% |
| Remuneration and social security | 454/9 | €11,466 | €20,115 | +€8,648 | +75.4% |
| Other amounts payable | 47/48 | €260,000 | €40,000 | -€220,000 | -84.6% |
| Remuneration, social security and pensions | 62 | €109,079 | €185,644 | +€76,565 | +70.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,036 | €47,079 | -€22,956 | -32.8% |
| Other operating charges | 640/8 | €7,035 | €8,372 | +€1,337 | +19.0% |
| Gross operating margin | 9900 | €457,930 | €295,002 | -€162,928 | -35.6% |
| Operating profit (loss) | 9901 | €271,781 | €53,908 | -€217,873 | -80.2% |
| Financial income | 75/76B | €2,692 | €5,523 | +€2,831 | +105% |
| Recurring financial income | 75 | €2,692 | €5,523 | +€2,831 | +105% |
| Financial charges | 65/66B | €4,829 | €4,609 | -€220 | -4.6% |
| Recurring financial charges | 65 | €4,829 | €4,609 | -€220 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €269,643 | €54,822 | -€214,821 | -79.7% |
| Transfer from deferred taxes | 780 | €44 | €44 | = | 0.0% |
| Income taxes | 67/77 | €5,207 | €6,473 | +€1,266 | +24.3% |
| Profit (loss) for the period | 9904 | €264,481 | €48,393 | -€216,087 | -81.7% |
| Transfer from tax-exempt reserves | 789 | €176 | €176 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €264,657 | €48,569 | -€216,087 | -81.6% |
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 26 October 2026 via checked.be.