Pheka: 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.
Pheka
Largest movements
- Tangible fixed assets -€28,833
down €28,833 (-16.0%), from €180,017 to €151,184
of which Leasing and similar rights: -€20,533
- Cash -€28,832
down €28,832 (-70.8%), from €40,695 to €11,863
mainly Debts after one year (-€23,129) and Receivables within one year (-€21,932)
- Receivables within one year +€21,932
up €21,932 (+142.9%), from €15,346 to €37,278
of which Trade receivables: +€13,396
- Debts after one year -€23,129
down €23,129 (-20.3%), from €113,889 to €90,759
- Profit (loss) carried forward -€9,646
down €9,646 (-29.0%), from €33,318 to €23,672
- Current portion of long-term debt -€6,388
down €6,388 (-23.3%), from €27,467 to €21,079
- Trade debts +€5,642
up €5,642 (+24.4%), from €23,159 to €28,801
- Gross operating margin +€16,204
up €16,204 (+116.0%), from €13,965 to €30,169
- Depreciation +€4,615
up €4,615 (+16.4%), from €28,097 to €32,711
- Financial charges +€1,842
up €1,842 (+33.6%), from €5,482 to €7,324
- Financial income -€1,802
down €1,802 (-86.5%), from €2,083 to €281
- Staff costs -€787
no longer reported in 2025 (was €787)
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 | €237,955 | €204,735 | -€33,221 | -14.0% |
| Fixed assets | 21/28 | €180,017 | €151,184 | -€28,833 | -16.0% |
| Tangible fixed assets | 22/27 | €180,017 | €151,184 | -€28,833 | -16.0% |
| Plant, machinery and equipment | 23 | €36,982 | €29,089 | -€7,893 | -21.3% |
| Furniture and vehicles | 24 | €595 | €188 | -€407 | -68.4% |
| Leasing and similar rights | 25 | €142,440 | €121,907 | -€20,533 | -14.4% |
| Current assets | 29/58 | €57,939 | €53,551 | -€4,388 | -7.6% |
| Stocks and contracts in progress | 3 | €0 | €1,204 | +€1,204 | |
| Stocks | 30/36 | €0 | €1,204 | +€1,204 | |
| Amounts receivable within one year | 40/41 | €15,346 | €37,278 | +€21,932 | +142.9% |
| Trade receivables | 40 | €10,132 | €23,528 | +€13,396 | +132.2% |
| Other amounts receivable | 41 | €5,214 | €13,750 | +€8,536 | +163.7% |
| Cash at bank and in hand | 54/58 | €40,695 | €11,863 | -€28,832 | -70.8% |
| Deferred charges and accrued income | 490/1 | €1,898 | €3,206 | +€1,308 | +68.9% |
| Total equity and liabilities | 10/49 | €237,955 | €204,735 | -€33,221 | -14.0% |
| Equity | 10/15 | €41,378 | €31,732 | -€9,646 | -23.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,318 | €23,672 | -€9,646 | -29.0% |
| Amounts payable | 17/49 | €196,578 | €173,003 | -€23,575 | -12.0% |
| Amounts payable after more than one year | 17 | €113,889 | €90,759 | -€23,129 | -20.3% |
| Financial debts | 170/4 | €113,889 | €90,759 | -€23,129 | -20.3% |
| Amounts payable within one year | 42/48 | €82,452 | €82,244 | -€209 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €27,467 | €21,079 | -€6,388 | -23.3% |
| Trade debts | 44 | €23,159 | €28,801 | +€5,642 | +24.4% |
| Suppliers | 440/4 | €23,159 | €28,801 | +€5,642 | +24.4% |
| Taxes, remuneration and social security | 45 | €7,038 | €7,732 | +€694 | +9.9% |
| Taxes | 450/3 | €4,213 | €2,184 | -€2,028 | -48.1% |
| Remuneration and social security | 454/9 | €2,825 | €5,547 | +€2,722 | +96.4% |
| Other amounts payable | 47/48 | €24,789 | €24,632 | -€157 | -0.6% |
| Accrued charges and deferred income | 492/3 | €237 | - | -€237 | |
| Remuneration, social security and pensions | 62 | €787 | - | -€787 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,097 | €32,711 | +€4,615 | +16.4% |
| Other operating charges | 640/8 | €165 | - | -€165 | |
| Gross operating margin | 9900 | €13,965 | €30,169 | +€16,204 | +116.0% |
| Operating profit (loss) | 9901 | -€15,083 | -€2,543 | +€12,540 | +83.1% |
| Financial income | 75/76B | €2,083 | €281 | -€1,802 | -86.5% |
| Recurring financial income | 75 | €2,083 | €281 | -€1,802 | -86.5% |
| Financial charges | 65/66B | €5,482 | €7,324 | +€1,842 | +33.6% |
| Recurring financial charges | 65 | €5,482 | €7,324 | +€1,842 | +33.6% |
| Profit (loss) for the period before taxes | 9903 | -€18,482 | -€9,586 | +€8,896 | +48.1% |
| Income taxes | 67/77 | €52 | €60 | +€8 | +14.4% |
| Profit (loss) for the period | 9904 | -€18,534 | -€9,646 | +€8,888 | +48.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,534 | -€9,646 | +€8,888 | +48.0% |
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 8 October 2026 via checked.be.