PHASE9: 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.
PHASE9
Largest movements
- Cash +€40,508
up €40,508 (+29.4%), from €137,810 to €178,318
mainly Net result for the year (+€43,173) and Tax, wage and social debts (+€4,434)
- Receivables within one year +€9,308
up €9,308 (+20.0%), from €46,545 to €55,853
of which Trade receivables: +€7,175
- Tangible fixed assets -€3,830
down €3,830 (-54.4%), from €7,043 to €3,213
of which Furniture and vehicles: -€3,714
- Reserves +€30,000
up €30,000 (+44.2%), from €67,855 to €97,855
of which Distributable reserves: +€30,000
- Profit (loss) carried forward +€13,173
up €13,173 (+14.3%), from €92,332 to €105,504
- Tax, wage and social debts +€4,434
up €4,434 (+41.0%), from €10,805 to €15,239
- Taxes +€2,553
up €2,553 (+18.4%), from €13,873 to €16,427
- Gross operating margin +€2,378
up €2,378 (+3.1%), from €75,642 to €78,020
- Other operating charges +€1,059
up €1,059 (+77.1%), from €1,373 to €2,432
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 | €191,619 | €238,002 | +€46,383 | +24.2% |
| Fixed assets | 21/28 | €7,043 | €3,213 | -€3,830 | -54.4% |
| Tangible fixed assets | 22/27 | €7,043 | €3,213 | -€3,830 | -54.4% |
| Plant, machinery and equipment | 23 | €231 | €116 | -€116 | -50.0% |
| Furniture and vehicles | 24 | €6,812 | €3,098 | -€3,714 | -54.5% |
| Current assets | 29/58 | €184,576 | €234,789 | +€50,213 | +27.2% |
| Amounts receivable within one year | 40/41 | €46,545 | €55,853 | +€9,308 | +20.0% |
| Trade receivables | 40 | €31,014 | €38,189 | +€7,175 | +23.1% |
| Other amounts receivable | 41 | €15,531 | €17,664 | +€2,133 | +13.7% |
| Cash at bank and in hand | 54/58 | €137,810 | €178,318 | +€40,508 | +29.4% |
| Deferred charges and accrued income | 490/1 | €220 | €618 | +€397 | +180% |
| Total equity and liabilities | 10/49 | €191,619 | €238,002 | +€46,383 | +24.2% |
| Equity | 10/15 | €178,737 | €221,909 | +€43,173 | +24.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €67,855 | €97,855 | +€30,000 | +44.2% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €66,000 | €96,000 | +€30,000 | +45.5% |
| Profit (loss) carried forward | 14 | €92,332 | €105,504 | +€13,173 | +14.3% |
| Amounts payable | 17/49 | €12,882 | €16,093 | +€3,210 | +24.9% |
| Amounts payable within one year | 42/48 | €12,882 | €16,093 | +€3,210 | +24.9% |
| Trade debts | 44 | €1,742 | €854 | -€888 | -51.0% |
| Suppliers | 440/4 | €1,742 | €854 | -€888 | -51.0% |
| Taxes, remuneration and social security | 45 | €10,805 | €15,239 | +€4,434 | +41.0% |
| Taxes | 450/3 | €10,805 | €15,239 | +€4,434 | +41.0% |
| Other amounts payable | 47/48 | €336 | - | -€336 | |
| Remuneration, social security and pensions | 62 | €11,275 | €11,949 | +€674 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,986 | €3,830 | -€156 | -3.9% |
| Other operating charges | 640/8 | €1,373 | €2,432 | +€1,059 | +77.1% |
| Gross operating margin | 9900 | €75,642 | €78,020 | +€2,378 | +3.1% |
| Operating profit (loss) | 9901 | €59,008 | €59,809 | +€801 | +1.4% |
| Financial income | 75/76B | €3 | €11 | +€7 | +206% |
| Recurring financial income | 75 | €3 | €11 | +€7 | +206% |
| Financial charges | 65/66B | €167 | €220 | +€53 | +31.9% |
| Recurring financial charges | 65 | €167 | €220 | +€53 | +31.9% |
| Profit (loss) for the period before taxes | 9903 | €58,845 | €59,599 | +€754 | +1.3% |
| Income taxes | 67/77 | €13,873 | €16,427 | +€2,553 | +18.4% |
| Profit (loss) for the period | 9904 | €44,971 | €43,173 | -€1,799 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,971 | €43,173 | -€1,799 | -4.0% |
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 25 October 2026 via checked.be.