Phebus: 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.
Phebus
Largest movements
- Cash +€83,065
up €83,065 (+195.3%), from €42,530 to €125,594
mainly Net result for the year (+€34,936) and Receivables within one year (+€31,724)
- Receivables within one year -€31,724
down €31,724 (-21.9%), from €145,063 to €113,339
- Tangible fixed assets -€12,884
down €12,884 (-4.7%), from €271,405 to €258,521
- Profit (loss) carried forward +€34,936
up €34,936 (+10.4%), from -€334,763 to -€299,827
- Gross operating margin -€2,826
down €2,826 (-5.0%), from €56,941 to €54,115
- Financial income +€599
up €599 (+145.7%), from €411 to €1,011
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €463,379 | €501,163 | +€37,784 | +8.2% |
| Fixed assets | 21/28 | €271,405 | €258,521 | -€12,884 | -4.7% |
| Tangible fixed assets | 22/27 | €271,405 | €258,521 | -€12,884 | -4.7% |
| Land and buildings | 22 | €271,405 | €258,521 | -€12,884 | -4.7% |
| Current assets | 29/58 | €191,974 | €242,642 | +€50,667 | +26.4% |
| Amounts receivable within one year | 40/41 | €145,063 | €113,339 | -€31,724 | -21.9% |
| Other amounts receivable | 41 | €145,063 | €113,339 | -€31,724 | -21.9% |
| Cash at bank and in hand | 54/58 | €42,530 | €125,594 | +€83,065 | +195.3% |
| Deferred charges and accrued income | 490/1 | €4,381 | €3,709 | -€673 | -15.4% |
| Total equity and liabilities | 10/49 | €463,379 | €501,163 | +€37,784 | +8.2% |
| Equity | 10/15 | €452,237 | €487,173 | +€34,936 | +7.7% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €37,000 | €37,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,000 | €37,000 | = | 0.0% |
| Legal reserve | 130 | €37,000 | €37,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€334,763 | -€299,827 | +€34,936 | +10.4% |
| Amounts payable | 17/49 | €11,142 | €13,990 | +€2,848 | +25.6% |
| Amounts payable within one year | 42/48 | €10,192 | €12,528 | +€2,336 | +22.9% |
| Trade debts | 44 | €8,992 | €10,025 | +€1,033 | +11.5% |
| Suppliers | 440/4 | €8,992 | €10,025 | +€1,033 | +11.5% |
| Other amounts payable | 47/48 | €1,200 | €2,503 | +€1,303 | +108.6% |
| Accrued charges and deferred income | 492/3 | €950 | €1,462 | +€512 | +53.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,729 | €15,854 | +€125 | +0.8% |
| Other operating charges | 640/8 | €3,912 | €4,066 | +€154 | +3.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €56,941 | €54,115 | -€2,826 | -5.0% |
| Operating profit (loss) | 9901 | €37,299 | €34,195 | -€3,104 | -8.3% |
| Financial income | 75/76B | €411 | €1,011 | +€599 | +145.7% |
| Recurring financial income | 75 | €411 | €1,011 | +€599 | +145.7% |
| Financial charges | 65/66B | €274 | €270 | -€4 | -1.5% |
| Recurring financial charges | 65 | €274 | €270 | -€4 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €37,436 | €34,936 | -€2,501 | -6.7% |
| Profit (loss) for the period | 9904 | €37,436 | €34,936 | -€2,501 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,436 | €34,936 | -€2,501 | -6.7% |
Source: filed annual accounts (NBB), fiscal years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.