PHAYANAK: 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.
PHAYANAK
Largest movements
- Receivables within one year +€35,468
up €35,468 (+531%), from €6,684 to €42,151
- Cash -€7,055
down €7,055 (-18.2%), from €38,716 to €31,662
mainly Receivables within one year (-€35,468) and Trade debts (-€10,209)
- Tangible fixed assets -€2,035
down €2,035 (-8.2%), from €24,941 to €22,906
of which Other tangible fixed assets: -€2,529
- Stocks and contracts +€1,546
up €1,546 (+150%), from €1,031 to €2,577
- Reserves +€33,000
up €33,000 (+132%), from €25,000 to €58,000
- Trade debts -€10,209
down €10,209 (-59.2%), from €17,240 to €7,030
- Tax, wage and social debts +€7,569
up €7,569 (+45.2%), from €16,739 to €24,308
of which Taxes: +€5,151
- Profit (loss) carried forward -€2,392
down €2,392 (-90.7%), from €2,636 to €244
- Staff costs -€17,013
down €17,013 (-48.0%), from €35,438 to €18,425
- Taxes +€3,531
up €3,531 (+53.0%), from €6,662 to €10,193
- Depreciation +€1,302
up €1,302 (+16.1%), from €8,101 to €9,403
- Financial charges -€856
down €856 (-69.0%), from €1,240 to €384
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 | €80,214 | €108,182 | +€27,968 | +34.9% |
| Fixed assets | 21/28 | €33,770 | €31,792 | -€1,978 | -5.9% |
| Tangible fixed assets | 22/27 | €24,941 | €22,906 | -€2,035 | -8.2% |
| Plant, machinery and equipment | 23 | €15,090 | €16,510 | +€1,419 | +9.4% |
| Furniture and vehicles | 24 | €3,245 | €2,320 | -€925 | -28.5% |
| Other tangible fixed assets | 26 | €6,606 | €4,077 | -€2,529 | -38.3% |
| Financial fixed assets | 28 | €8,829 | €8,886 | +€57 | +0.6% |
| Current assets | 29/58 | €46,444 | €76,390 | +€29,946 | +64.5% |
| Stocks and contracts in progress | 3 | €1,031 | €2,577 | +€1,546 | +150% |
| Stocks | 30/36 | €1,031 | €2,577 | +€1,546 | +150% |
| Amounts receivable within one year | 40/41 | €6,684 | €42,151 | +€35,468 | +531% |
| Other amounts receivable | 41 | €6,684 | €42,151 | +€35,468 | +531% |
| Cash at bank and in hand | 54/58 | €38,716 | €31,662 | -€7,055 | -18.2% |
| Deferred charges and accrued income | 490/1 | €13 | - | -€13 | |
| Total equity and liabilities | 10/49 | €80,214 | €108,182 | +€27,968 | +34.9% |
| Equity | 10/15 | €46,236 | €76,844 | +€30,608 | +66.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,000 | €58,000 | +€33,000 | +132% |
| Distributable reserves | 133 | €25,000 | €58,000 | +€33,000 | +132% |
| Profit (loss) carried forward | 14 | €2,636 | €244 | -€2,392 | -90.7% |
| Amounts payable | 17/49 | €33,978 | €31,338 | -€2,640 | -7.8% |
| Amounts payable within one year | 42/48 | €33,978 | €31,338 | -€2,640 | -7.8% |
| Trade debts | 44 | €17,240 | €7,030 | -€10,209 | -59.2% |
| Suppliers | 440/4 | €17,240 | €7,030 | -€10,209 | -59.2% |
| Taxes, remuneration and social security | 45 | €16,739 | €24,308 | +€7,569 | +45.2% |
| Taxes | 450/3 | €14,182 | €19,333 | +€5,151 | +36.3% |
| Remuneration and social security | 454/9 | €2,557 | €4,974 | +€2,417 | +94.5% |
| Remuneration, social security and pensions | 62 | €35,438 | €18,425 | -€17,013 | -48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,101 | €9,403 | +€1,302 | +16.1% |
| Other operating charges | 640/8 | €1,372 | €1,088 | -€284 | -20.7% |
| Gross operating margin | 9900 | €69,660 | €70,018 | +€359 | +0.5% |
| Operating profit (loss) | 9901 | €24,748 | €41,102 | +€16,354 | +66.1% |
| Financial income | 75/76B | €86 | €84 | -€3 | -3.2% |
| Recurring financial income | 75 | €86 | €84 | -€3 | -3.2% |
| Financial charges | 65/66B | €1,240 | €384 | -€856 | -69.0% |
| Recurring financial charges | 65 | €1,240 | €384 | -€856 | -69.0% |
| Profit (loss) for the period before taxes | 9903 | €23,594 | €40,801 | +€17,207 | +72.9% |
| Income taxes | 67/77 | €6,662 | €10,193 | +€3,531 | +53.0% |
| Profit (loss) for the period | 9904 | €16,932 | €30,608 | +€13,676 | +80.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,932 | €30,608 | +€13,676 | +80.8% |
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 19 October 2026 via checked.be.