Phée Concept: 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.
Phée Concept
Largest movements
- Receivables within one year +€476,755
up €476,755 (+1288.5%), from €37,000 to €513,756
of which Other amounts receivable: +€458,822
- Cash +€127,305
up €127,305 (+2690.1%), from €4,732 to €132,038
mainly Net result for the year (+€518,140) and Provisions (+€121,139)
- Receivables after one year -€44,724
down €44,724 (-100.0%), from €44,724 to €0
- Tangible fixed assets -€35,408
down €35,408 (-22.9%), from €154,722 to €119,314
of which Furniture and vehicles: -€17,746
- Reserves +€484,558
up €484,558 (+26051.5%), from €1,860 to €486,418
of which Tax-exempt reserves: +€484,558
- Provisions +€121,139
new in 2025: €121,139
- Tax, wage and social debts -€37,906
down €37,906 (-74.1%), from €51,123 to €13,217
of which Remuneration and social security: -€26,204
- Debts after one year -€23,300
down €23,300 (-29.7%), from €78,358 to €55,058
- Trade debts -€20,307
down €20,307 (-75.8%), from €26,784 to €6,477
- Gross operating margin +€574,049
up €574,049 (+207.0%), from €277,349 to €851,398
- Staff costs -€47,988
down €47,988 (-27.5%), from €174,732 to €126,744
- Depreciation -€31,117
down €31,117 (-63.2%), from €49,203 to €18,086
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 | €243,421 | €768,533 | +€525,112 | +215.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €156,626 | €121,584 | -€35,043 | -22.4% |
| Intangible fixed assets | 21 | €1,905 | €2,270 | +€365 | +19.2% |
| Tangible fixed assets | 22/27 | €154,722 | €119,314 | -€35,408 | -22.9% |
| Land and buildings | 22 | €107,900 | €99,639 | -€8,261 | -7.7% |
| Plant, machinery and equipment | 23 | €10,934 | €6,332 | -€4,602 | -42.1% |
| Furniture and vehicles | 24 | €18,527 | €781 | -€17,746 | -95.8% |
| Other tangible fixed assets | 26 | €17,361 | €12,562 | -€4,799 | -27.6% |
| Current assets | 29/58 | €86,794 | €646,949 | +€560,154 | +645.4% |
| Amounts receivable after more than one year | 29 | €44,724 | €0 | -€44,724 | -100.0% |
| Other amounts receivable | 291 | €44,724 | €0 | -€44,724 | -100.0% |
| Amounts receivable within one year | 40/41 | €37,000 | €513,756 | +€476,755 | +1288.5% |
| Trade receivables | 40 | €15,726 | €33,660 | +€17,934 | +114.0% |
| Other amounts receivable | 41 | €21,274 | €480,096 | +€458,822 | +2156.7% |
| Cash at bank and in hand | 54/58 | €4,732 | €132,038 | +€127,305 | +2690.1% |
| Deferred charges and accrued income | 490/1 | €338 | €1,156 | +€818 | +242.0% |
| Total equity and liabilities | 10/49 | €243,421 | €768,533 | +€525,112 | +215.7% |
| Equity | 10/15 | €44,219 | €542,359 | +€498,140 | +1126.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €486,418 | +€484,558 | +26051.5% |
| Tax-exempt reserves | 132 | - | €484,558 | +€484,558 | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,759 | €37,341 | +€13,582 | +57.2% |
| Provisions and deferred taxes | 16 | - | €121,139 | +€121,139 | |
| Deferred taxes | 168 | - | €121,139 | +€121,139 | |
| Amounts payable | 17/49 | €199,202 | €105,034 | -€94,167 | -47.3% |
| Amounts payable after more than one year | 17 | €78,358 | €55,058 | -€23,300 | -29.7% |
| Financial debts | 170/4 | €78,358 | €55,058 | -€23,300 | -29.7% |
| Amounts payable within one year | 42/48 | €119,154 | €48,865 | -€70,289 | -59.0% |
| Current portion of amounts payable after more than one year | 42 | €34,646 | €20,671 | -€13,975 | -40.3% |
| Trade debts | 44 | €26,784 | €6,477 | -€20,307 | -75.8% |
| Suppliers | 440/4 | €26,784 | €6,477 | -€20,307 | -75.8% |
| Taxes, remuneration and social security | 45 | €51,123 | €13,217 | -€37,906 | -74.1% |
| Taxes | 450/3 | €24,920 | €13,217 | -€11,703 | -47.0% |
| Remuneration and social security | 454/9 | €26,204 | €0 | -€26,204 | -100.0% |
| Other amounts payable | 47/48 | €6,602 | €8,500 | +€1,899 | +28.8% |
| Accrued charges and deferred income | 492/3 | €1,690 | €1,112 | -€578 | -34.2% |
| Remuneration, social security and pensions | 62 | €174,732 | €126,744 | -€47,988 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,203 | €18,086 | -€31,117 | -63.2% |
| Other operating charges | 640/8 | €3,393 | €1,369 | -€2,024 | -59.7% |
| Gross operating margin | 9900 | €277,349 | €851,398 | +€574,049 | +207.0% |
| Operating profit (loss) | 9901 | €50,020 | €705,198 | +€655,178 | +1309.8% |
| Financial income | 75/76B | €1,614 | €2,039 | +€426 | +26.4% |
| Recurring financial income | 75 | €1,614 | €2,039 | +€426 | +26.4% |
| Financial charges | 65/66B | €60,418 | €61,873 | +€1,455 | +2.4% |
| Recurring financial charges | 65 | €60,418 | €61,873 | +€1,455 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,784 | €645,365 | +€654,149 | |
| Transfer from deferred taxes | 780 | - | €3 | +€3 | |
| Transfer to deferred taxes | 680 | - | €121,142 | +€121,142 | |
| Income taxes | 67/77 | €641 | €6,086 | +€5,445 | +849.9% |
| Profit (loss) for the period | 9904 | -€9,425 | €518,140 | +€527,564 | |
| Transfer from tax-exempt reserves | 789 | - | €11 | +€11 | |
| Transfer to tax-exempt reserves | 689 | - | €484,569 | +€484,569 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,425 | €33,582 | +€43,007 |
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 28 September 2026 via checked.be.