PhaSol: 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.
PhaSol
Largest movements
- Cash -€42,071
down €42,071 (-37.7%), from €111,638 to €69,567
mainly Contributions, distributions and other (-€138,569) and Smaller working-capital items (-€515)
- Receivables within one year -€1,850
down €1,850 (-21.5%), from €8,609 to €6,759
- Profit (loss) carried forward -€104,365
no longer reported in 2025 (was €104,365)
- Other debts +€57,521
up €57,521 (+68436.8%), from €84 to €57,605
- Tax, wage and social debts +€2,287
up €2,287 (+11.3%), from €20,327 to €22,614
- Gross operating margin -€3,023
down €3,023 (-6.2%), from €49,080 to €46,057
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 | €125,399 | €80,633 | -€44,766 | -35.7% |
| Fixed assets | 21/28 | €3,704 | €2,553 | -€1,151 | -31.1% |
| Tangible fixed assets | 22/27 | €3,704 | €2,553 | -€1,151 | -31.1% |
| Plant, machinery and equipment | 23 | €1,053 | €629 | -€425 | -40.3% |
| Furniture and vehicles | 24 | €1,479 | €1,073 | -€406 | -27.4% |
| Other tangible fixed assets | 26 | €1,172 | €851 | -€321 | -27.4% |
| Current assets | 29/58 | €121,695 | €78,080 | -€43,615 | -35.8% |
| Amounts receivable within one year | 40/41 | €8,609 | €6,759 | -€1,850 | -21.5% |
| Trade receivables | 40 | €8,609 | €6,759 | -€1,850 | -21.5% |
| Cash at bank and in hand | 54/58 | €111,638 | €69,567 | -€42,071 | -37.7% |
| Deferred charges and accrued income | 490/1 | €1,449 | €1,754 | +€305 | +21.0% |
| Total equity and liabilities | 10/49 | €125,399 | €80,633 | -€44,766 | -35.7% |
| Equity | 10/15 | €104,465 | €100 | -€104,365 | -99.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,365 | - | -€104,365 | |
| Amounts payable | 17/49 | €20,934 | €80,533 | +€59,599 | +284.7% |
| Amounts payable within one year | 42/48 | €20,934 | €80,533 | +€59,599 | +284.7% |
| Trade debts | 44 | €523 | €314 | -€210 | -40.0% |
| Suppliers | 440/4 | €523 | €314 | -€210 | -40.0% |
| Taxes, remuneration and social security | 45 | €20,327 | €22,614 | +€2,287 | +11.3% |
| Taxes | 450/3 | €20,327 | €22,614 | +€2,287 | +11.3% |
| Other amounts payable | 47/48 | €84 | €57,605 | +€57,521 | +68436.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,148 | €1,151 | +€3 | +0.3% |
| Other operating charges | 640/8 | €1,421 | €1,321 | -€100 | -7.0% |
| Gross operating margin | 9900 | €49,080 | €46,057 | -€3,023 | -6.2% |
| Operating profit (loss) | 9901 | €46,512 | €43,586 | -€2,926 | -6.3% |
| Financial income | 75/76B | €1 | €303 | +€303 | +60550.0% |
| Recurring financial income | 75 | €1 | €303 | +€303 | +60550.0% |
| Financial charges | 65/66B | €717 | €429 | -€288 | -40.2% |
| Recurring financial charges | 65 | €717 | €429 | -€288 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €45,796 | €43,461 | -€2,335 | -5.1% |
| Income taxes | 67/77 | €9,499 | €9,257 | -€242 | -2.5% |
| Profit (loss) for the period | 9904 | €36,297 | €34,204 | -€2,093 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,297 | €34,204 | -€2,093 | -5.8% |
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 10 October 2026 via checked.be.