PHAYS: what changed
Two fiscal 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.
PHAYS
Largest movements
- Cash -€250,279
down €250,279 (-72.5%), from €345,395 to €95,115
mainly Contributions, distributions and other (-€378,714) and Tax, wage and social debts (-€39,925)
- Receivables within one year -€13,307
down €13,307 (-95.5%), from €13,933 to €626
of which Trade receivables: -€13,933
- Tangible fixed assets -€4,901
down €4,901 (-79.7%), from €6,153 to €1,252
of which Leasing and similar rights: -€5,277
- Reserves -€294,208
down €294,208 (-99.8%), from €294,714 to €506
- Other debts +€71,182
up €71,182 (+5433.5%), from €1,310 to €72,492
- Tax, wage and social debts -€39,925
down €39,925 (-66.4%), from €60,154 to €20,229
of which Taxes: -€39,925
- Current portion of long-term debt -€5,319
down €5,319 (-100.0%), from €5,319 to €0
- Gross operating margin -€94,398
down €94,398 (-45.5%), from €207,309 to €112,911
- Taxes -€23,187
down €23,187 (-49.8%), from €46,561 to €23,374
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 | €367,743 | €98,419 | -€269,324 | -73.2% |
| Fixed assets | 21/28 | €6,153 | €1,252 | -€4,901 | -79.7% |
| Tangible fixed assets | 22/27 | €6,153 | €1,252 | -€4,901 | -79.7% |
| Furniture and vehicles | 24 | €875 | €1,252 | +€377 | +43.0% |
| Leasing and similar rights | 25 | €5,277 | €0 | -€5,277 | -100.0% |
| Current assets | 29/58 | €361,591 | €97,167 | -€264,424 | -73.1% |
| Amounts receivable within one year | 40/41 | €13,933 | €626 | -€13,307 | -95.5% |
| Trade receivables | 40 | €13,933 | €0 | -€13,933 | -100.0% |
| Other amounts receivable | 41 | - | €626 | +€626 | |
| Cash at bank and in hand | 54/58 | €345,395 | €95,115 | -€250,279 | -72.5% |
| Deferred charges and accrued income | 490/1 | €2,263 | €1,426 | -€837 | -37.0% |
| Total equity and liabilities | 10/49 | €367,743 | €98,419 | -€269,324 | -73.2% |
| Equity | 10/15 | €299,714 | €5,506 | -€294,208 | -98.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €294,714 | €506 | -€294,208 | -99.8% |
| Distributable reserves | 133 | €294,714 | €506 | -€294,208 | -99.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €68,030 | €92,913 | +€24,884 | +36.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €68,017 | €92,900 | +€24,883 | +36.6% |
| Current portion of amounts payable after more than one year | 42 | €5,319 | €0 | -€5,319 | -100.0% |
| Trade debts | 44 | €1,233 | €179 | -€1,055 | -85.5% |
| Suppliers | 440/4 | €1,233 | €179 | -€1,055 | -85.5% |
| Taxes, remuneration and social security | 45 | €60,154 | €20,229 | -€39,925 | -66.4% |
| Taxes | 450/3 | €60,154 | €20,229 | -€39,925 | -66.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,310 | €72,492 | +€71,182 | +5433.5% |
| Accrued charges and deferred income | 492/3 | €13 | €13 | +€0 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,944 | €5,689 | -€254 | -4.3% |
| Other operating charges | 640/8 | €169 | €465 | +€296 | +174.9% |
| Gross operating margin | 9900 | €207,309 | €112,911 | -€94,398 | -45.5% |
| Operating profit (loss) | 9901 | €201,196 | €106,756 | -€94,440 | -46.9% |
| Financial income | 75/76B | €0 | €1,339 | +€1,339 | +1913242.9% |
| Recurring financial income | 75 | €0 | €1,339 | +€1,339 | +1913242.9% |
| Financial charges | 65/66B | €493 | €216 | -€277 | -56.2% |
| Recurring financial charges | 65 | €493 | €216 | -€277 | -56.2% |
| Profit (loss) for the period before taxes | 9903 | €200,703 | €107,880 | -€92,824 | -46.2% |
| Income taxes | 67/77 | €46,561 | €23,374 | -€23,187 | -49.8% |
| Profit (loss) for the period | 9904 | €154,142 | €84,506 | -€69,637 | -45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €154,142 | €84,506 | -€69,637 | -45.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.