PHD MEDIA: 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.
What changed
PHD MEDIA
NACE 73.110, Advertising agencies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€547,302
2024 · -€628,510+€81,209
Equity
€1.4m
2024 · €2.0m-€547,302
Cash
-
2024 · €558,263-€558,263
Balance sheet total
€18.8m
2024 · €13.3m+€5.5m
Largest movements
Assets
- Receivables within one year +€6.0m
up €6.0m (+47.5%), from €12.7m to €18.8m
of which Other amounts receivable: +€7.9m
- Cash -€558,263
no longer reported in 2025 (was €558,263)
mainly Receivables within one year (-€6.0m) and Net result for the year (-€547,302)
Equity and liabilities
- Trade debts +€6.4m
up €6.4m (+63.7%), from €10.0m to €16.3m
- Profit (loss) carried forward -€547,302
down €547,302, from €271,491 to -€275,810
- Accrued charges and deferred income -€340,004
no longer reported in 2025 (was €340,004)
Income statement
- Turnover -€8.2m
down €8.2m (-17.2%), from €47.6m to €39.4m
- Goods and materials -€7.9m
down €7.9m (-18.2%), from €43.6m to €35.7m
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.
Result 2024
-€628,510
Turnover
-€8.2m
Other operating income
-€17,529
Goods and materials
+€7.9m
Services and other goods
+€228,401
Staff costs
+€58,871
Depreciation
-€982
Other operating charges
-€294
Financial income
+€52,571
Financial charges
+€2,280
Taxes
-€560
Result 2025
-€547,302
raises the resultlowers the result
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.
From operations
-€558,263
Investment
€0
Financing
€0
Cash 2024
€558,263
From operations (derived)
-€558,263
Net result for the year
-€547,302
Depreciation
+€4,998
Receivables within one year
-€6.0m
Smaller working-capital items
+€9,292
Trade debts
+€6.4m
Accrued charges and deferred income
-€340,004
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,326,960 | €18,813,095 | +€5.5m | +41.2% |
| Fixed assets | 21/28 | €16,518 | €11,520 | -€4,998 | -30.3% |
| Tangible fixed assets | 22/27 | €16,518 | €11,520 | -€4,998 | -30.3% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | €2,471 | €1,878 | -€593 | -24.0% |
| Furniture and vehicles | 24 | €9,994 | €7,790 | -€2,204 | -22.1% |
| Other tangible fixed assets | 26 | €4,053 | €1,852 | -€2,201 | -54.3% |
| Current assets | 29/58 | €13,310,442 | €18,801,574 | +€5.5m | +41.3% |
| Amounts receivable within one year | 40/41 | €12,743,178 | €18,791,212 | +€6.0m | +47.5% |
| Trade receivables | 40 | €12,743,178 | €10,866,792 | -€1.9m | -14.7% |
| Other amounts receivable | 41 | - | €7,924,420 | +€7.9m | |
| Cash at bank and in hand | 54/58 | €558,263 | - | -€558,263 | |
| Deferred charges and accrued income | 490/1 | €9,000 | €10,362 | +€1,362 | +15.1% |
| Total equity and liabilities | 10/49 | €13,326,960 | €18,813,095 | +€5.5m | +41.2% |
| Equity | 10/15 | €1,973,477 | €1,426,175 | -€547,302 | -27.7% |
| Contributions | 10/11 | €1,695,785 | €1,695,785 | = | 0.0% |
| Capital | 10 | €1,695,785 | €1,695,785 | = | 0.0% |
| Issued capital | 100 | €1,695,785 | €1,695,785 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €271,491 | -€275,810 | -€547,302 | |
| Amounts payable | 17/49 | €11,353,483 | €17,386,920 | +€6.0m | +53.1% |
| Amounts payable within one year | 42/48 | €11,013,479 | €17,386,920 | +€6.4m | +57.9% |
| Trade debts | 44 | €9,984,971 | €16,347,757 | +€6.4m | +63.7% |
| Suppliers | 440/4 | €9,984,971 | €16,347,757 | +€6.4m | +63.7% |
| Advances received on contracts in progress | 46 | - | €14,059 | +€14,059 | |
| Taxes, remuneration and social security | 45 | €1,028,509 | €1,025,103 | -€3,405 | -0.3% |
| Taxes | 450/3 | €870,556 | €827,870 | -€42,686 | -4.9% |
| Remuneration and social security | 454/9 | €157,952 | €197,233 | +€39,281 | +24.9% |
| Accrued charges and deferred income | 492/3 | €340,004 | - | -€340,004 | |
| Operating income | 70/76A | €47,603,939 | €39,403,599 | -€8.2m | -17.2% |
| Turnover | 70 | €47,586,410 | €39,403,599 | -€8.2m | -17.2% |
| Other operating income | 74 | €17,529 | - | -€17,529 | |
| Operating charges | 60/66A | €48,462,742 | €40,235,483 | -€8.2m | -17.0% |
| Goods for resale, raw materials and consumables | 60 | €43,641,558 | €35,700,296 | -€7.9m | -18.2% |
| Purchases | 600/8 | €43,641,558 | €35,700,296 | -€7.9m | -18.2% |
| Services and other goods | 61 | €2,991,583 | €2,763,182 | -€228,401 | -7.6% |
| Remuneration, social security and pensions | 62 | €1,811,921 | €1,753,049 | -€58,871 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,017 | €4,998 | +€982 | +24.4% |
| Other operating charges | 640/8 | €13,664 | €13,958 | +€294 | +2.2% |
| Operating profit (loss) | 9901 | -€858,803 | -€831,884 | +€26,918 | +3.1% |
| Financial income | 75/76B | €243,130 | €295,701 | +€52,571 | +21.6% |
| Recurring financial income | 75 | €243,130 | €295,701 | +€52,571 | +21.6% |
| Income from current assets | 751 | €241,468 | €294,685 | +€53,217 | +22.0% |
| Other financial income | 752/9 | €1,662 | €1,015 | -€647 | -38.9% |
| Financial charges | 65/66B | €9,398 | €7,118 | -€2,280 | -24.3% |
| Recurring financial charges | 65 | €9,398 | €7,118 | -€2,280 | -24.3% |
| Debt charges | 650 | €6,464 | €5,817 | -€648 | -10.0% |
| Other financial charges | 652/9 | €2,933 | €1,301 | -€1,632 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | -€625,070 | -€543,302 | +€81,769 | +13.1% |
| Income taxes | 67/77 | €3,440 | €4,000 | +€560 | +16.3% |
| Taxes | 670/3 | €3,440 | €4,000 | +€560 | +16.3% |
| Profit (loss) for the period | 9904 | -€628,510 | -€547,302 | +€81,209 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€628,510 | -€547,302 | +€81,209 | +12.9% |
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 27 October 2026 via checked.be.