PHEBEY: 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.
PHEBEY
Largest movements
- Cash +€18,531
up €18,531 (+46.3%), from €40,056 to €58,587
mainly Net result for the year (+€22,984) and Receivables within one year (+€4,380)
- Deferred charges and accrued income +€8,903
up €8,903 (+529%), from €1,683 to €10,586
- Receivables within one year -€4,380
down €4,380 (-72.5%), from €6,045 to €1,664
of which Trade receivables: -€6,040
- Reserves +€22,984
up €22,984 (+64.0%), from €35,921 to €58,905
- Tax, wage and social debts -€728
down €728 (-8.8%), from €8,303 to €7,575
of which Taxes: -€728
- Gross operating margin -€16,644
down €16,644 (-35.7%), from €46,619 to €29,975
- Taxes -€3,660
down €3,660 (-36.6%), from €9,995 to €6,336
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 | €49,516 | €72,160 | +€22,645 | +45.7% |
| Fixed assets | 21/28 | €1,733 | €1,324 | -€409 | -23.6% |
| Tangible fixed assets | 22/27 | €1,733 | €1,324 | -€409 | -23.6% |
| Furniture and vehicles | 24 | €1,733 | €1,324 | -€409 | -23.6% |
| Current assets | 29/58 | €47,783 | €70,836 | +€23,053 | +48.2% |
| Amounts receivable within one year | 40/41 | €6,045 | €1,664 | -€4,380 | -72.5% |
| Trade receivables | 40 | €6,040 | €0 | -€6,040 | -100% |
| Other amounts receivable | 41 | €5 | €1,664 | +€1,660 | +34,646% |
| Cash at bank and in hand | 54/58 | €40,056 | €58,587 | +€18,531 | +46.3% |
| Deferred charges and accrued income | 490/1 | €1,683 | €10,586 | +€8,903 | +529% |
| Total equity and liabilities | 10/49 | €49,516 | €72,160 | +€22,645 | +45.7% |
| Equity | 10/15 | €40,921 | €63,905 | +€22,984 | +56.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €35,921 | €58,905 | +€22,984 | +64.0% |
| Distributable reserves | 133 | €35,921 | €58,905 | +€22,984 | +64.0% |
| Amounts payable | 17/49 | €8,595 | €8,256 | -€339 | -3.9% |
| Amounts payable within one year | 42/48 | €8,520 | €8,256 | -€264 | -3.1% |
| Trade debts | 44 | €217 | €681 | +€464 | +214% |
| Suppliers | 440/4 | €217 | €681 | +€464 | +214% |
| Taxes, remuneration and social security | 45 | €8,303 | €7,575 | -€728 | -8.8% |
| Taxes | 450/3 | €6,303 | €5,575 | -€728 | -11.6% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €75 | €0 | -€75 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154 | €409 | +€255 | +165% |
| Other operating charges | 640/8 | €439 | €186 | -€253 | -57.7% |
| Gross operating margin | 9900 | €46,619 | €29,975 | -€16,644 | -35.7% |
| Operating profit (loss) | 9901 | €46,026 | €29,381 | -€16,645 | -36.2% |
| Financial income | 75/76B | - | €125 | +€125 | |
| Recurring financial income | 75 | - | €125 | +€125 | |
| Financial charges | 65/66B | €110 | €187 | +€77 | +69.9% |
| Recurring financial charges | 65 | €110 | €187 | +€77 | +69.9% |
| Profit (loss) for the period before taxes | 9903 | €45,916 | €29,319 | -€16,597 | -36.1% |
| Income taxes | 67/77 | €9,995 | €6,336 | -€3,660 | -36.6% |
| Profit (loss) for the period | 9904 | €35,921 | €22,984 | -€12,938 | -36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,921 | €22,984 | -€12,938 | -36.0% |
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 13 October 2026 via checked.be.