PHASIANUS: 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.
PHASIANUS
Largest movements
- Current investments +€334,387
new in 2025: €334,387
- Tangible fixed assets -€161,791
down €161,791 (-87.6%), from €184,749 to €22,958
of which Land and buildings: -€180,005
- Receivables within one year -€26,950
down €26,950 (-42.9%), from €62,878 to €35,928
of which Other amounts receivable: -€15,293
- Cash -€26,390
down €26,390 (-64.4%), from €40,968 to €14,578
mainly Current investments (-€334,387) and Contributions, distributions and other (-€37,532)
- Reserves +€66,222
up €66,222 (+26.8%), from €247,440 to €313,662
of which Distributable reserves: +€66,222
- Other debts +€37,532
up €37,532, from €0 to €37,532
- Short-term financial debts +€21,571
up €21,571 (+253.3%), from €8,515 to €30,085
- Trade debts -€5,003
down €5,003 (-71.9%), from €6,954 to €1,951
- Tax, wage and social debts -€4,881
down €4,881 (-41.7%), from €11,702 to €6,821
of which Taxes: -€4,869
- Gross operating margin +€95,025
up €95,025 (+158.0%), from €60,148 to €155,173
- Taxes +€30,192
up €30,192 (+221.5%), from €13,630 to €43,822
- Depreciation -€6,836
down €6,836 (-54.2%), from €12,611 to €5,775
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 | €293,211 | €408,652 | +€115,442 | +39.4% |
| Fixed assets | 21/28 | €184,749 | €22,958 | -€161,791 | -87.6% |
| Tangible fixed assets | 22/27 | €184,749 | €22,958 | -€161,791 | -87.6% |
| Land and buildings | 22 | €180,005 | - | -€180,005 | |
| Plant, machinery and equipment | 23 | €1,105 | €6,925 | +€5,820 | +526.5% |
| Furniture and vehicles | 24 | €3,638 | €4,539 | +€901 | +24.8% |
| Other tangible fixed assets | 26 | - | €11,493 | +€11,493 | |
| Current assets | 29/58 | €108,462 | €385,695 | +€277,233 | +255.6% |
| Amounts receivable within one year | 40/41 | €62,878 | €35,928 | -€26,950 | -42.9% |
| Trade receivables | 40 | €40,800 | €29,142 | -€11,657 | -28.6% |
| Other amounts receivable | 41 | €22,078 | €6,785 | -€15,293 | -69.3% |
| Current investments | 50/53 | - | €334,387 | +€334,387 | |
| Cash at bank and in hand | 54/58 | €40,968 | €14,578 | -€26,390 | -64.4% |
| Deferred charges and accrued income | 490/1 | €4,616 | €803 | -€3,814 | -82.6% |
| Total equity and liabilities | 10/49 | €293,211 | €408,652 | +€115,442 | +39.4% |
| Equity | 10/15 | €266,040 | €332,262 | +€66,222 | +24.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €247,440 | €313,662 | +€66,222 | +26.8% |
| Non-distributable reserves | 130/1 | €1,939 | €1,939 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,939 | €1,939 | = | 0.0% |
| Tax-exempt reserves | 132 | €88,436 | €88,436 | = | 0.0% |
| Distributable reserves | 133 | €157,065 | €223,287 | +€66,222 | +42.2% |
| Amounts payable | 17/49 | €27,171 | €76,390 | +€49,219 | +181.1% |
| Amounts payable within one year | 42/48 | €27,171 | €76,390 | +€49,219 | +181.1% |
| Financial debts | 43 | €8,515 | €30,085 | +€21,571 | +253.3% |
| Credit institutions | 430/8 | €8,515 | €30,085 | +€21,571 | +253.3% |
| Trade debts | 44 | €6,954 | €1,951 | -€5,003 | -71.9% |
| Suppliers | 440/4 | €6,954 | €1,951 | -€5,003 | -71.9% |
| Taxes, remuneration and social security | 45 | €11,702 | €6,821 | -€4,881 | -41.7% |
| Taxes | 450/3 | €8,486 | €3,618 | -€4,869 | -57.4% |
| Remuneration and social security | 454/9 | €3,216 | €3,204 | -€12 | -0.4% |
| Other amounts payable | 47/48 | €0 | €37,532 | +€37,532 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,611 | €5,775 | -€6,836 | -54.2% |
| Other operating charges | 640/8 | €505 | €547 | +€41 | +8.2% |
| Gross operating margin | 9900 | €60,148 | €155,173 | +€95,025 | +158.0% |
| Operating profit (loss) | 9901 | €47,032 | €148,851 | +€101,820 | +216.5% |
| Financial income | 75/76B | €717 | €524 | -€193 | -26.9% |
| Recurring financial income | 75 | €717 | €524 | -€193 | -26.9% |
| Financial charges | 65/66B | €653 | €1,799 | +€1,146 | +175.6% |
| Recurring financial charges | 65 | €653 | €1,799 | +€1,146 | +175.6% |
| Profit (loss) for the period before taxes | 9903 | €47,096 | €147,576 | +€100,481 | +213.4% |
| Income taxes | 67/77 | €13,630 | €43,822 | +€30,192 | +221.5% |
| Profit (loss) for the period | 9904 | €33,465 | €103,755 | +€70,289 | +210.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,465 | €103,755 | +€70,289 | +210.0% |
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 12 October 2026 via checked.be.