PHELEK: what changed
What changed
PHELEK
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€952,435
2024 · €722,402+€230,033
Equity
€501,172
2024 · €1.8m-€1.3m
Cash
€62,037
2024 · €339,214-€277,178
Balance sheet total
€2.4m
2024 · €2.1m+€270,165
Largest movements
Assets
- Current investments +€626,194
up €626,194 (+69.3%), from €903,262 to €1.5m
- Cash -€277,178
down €277,178 (-81.7%), from €339,214 to €62,037
mainly Contributions, distributions and other (-€2.3m) and Current investments (-€626,194)
- Tangible fixed assets -€67,483
down €67,483 (-11.3%), from €598,062 to €530,579
of which Furniture and vehicles: -€46,482
Equity and liabilities
- Other debts +€1.4m
up €1.4m (+117,749%), from €1,206 to €1.4m
- Reserves -€1.3m
down €1.3m (-73.4%), from €1.8m to €482,572
- Tax, wage and social debts +€312,349
up €312,349 (+1,042%), from €29,986 to €342,335
- Trade debts -€73,696
down €73,696 (-85.3%), from €86,420 to €12,724
- Debts after one year -€54,533
down €54,533 (-46.6%), from €117,008 to €62,475
Income statement
- Financial income +€254,906
up €254,906 (+5,753%), from €4,431 to €259,337
- Gross operating margin -€67,766
down €67,766 (-6.2%), from €1.1m to €1.0m
- Financial charges -€29,277
down €29,277 (-62.9%), from €46,555 to €17,278
of which Financial charges: -€28,791
- Taxes -€17,024
down €17,024 (-6.5%), from €261,239 to €244,215
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€722,402
Gross operating margin
-€67,766
Depreciation
-€619
Other operating charges
-€2,211
Other operating items
-€578
Financial income
+€254,906
Financial charges
+€29,277
Taxes
+€17,024
Result 2025
€952,435
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.7m
Investment
-€626,342
Financing
-€2.3m
Cash 2024
€339,214
From operations (derived)
+€2.7m
Net result for the year
+€952,435
Depreciation
+€67,632
Receivables within one year
+€2,032
Deferred charges and accrued income
+€9,337
Trade debts
-€73,696
Tax, wage and social debts
+€312,349
Other debts
+€1.4m
Investment (derived)
-€626,342
Investment in fixed assets (net)
-€149
Current investments
-€626,194
Financing
-€2.3m
Debts after one year
-€54,533
Current portion of long-term debt
-€14,583
Short-term financial debts
+€12,552
Contributions, distributions and other
-€2.3m
Cash 2025
€62,037
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,145,819 | €2,415,984 | +€270,165 | +12.6% |
| Fixed assets | 21/28 | €599,732 | €532,249 | -€67,483 | -11.3% |
| Tangible fixed assets | 22/27 | €598,062 | €530,579 | -€67,483 | -11.3% |
| Land and buildings | 22 | €441,938 | €423,643 | -€18,295 | -4.1% |
| Plant, machinery and equipment | 23 | €3,522 | €815 | -€2,707 | -76.9% |
| Furniture and vehicles | 24 | €152,602 | €106,121 | -€46,482 | -30.5% |
| Financial fixed assets | 28 | €1,670 | €1,670 | = | 0.0% |
| Current assets | 29/58 | €1,546,087 | €1,883,735 | +€337,648 | +21.8% |
| Amounts receivable within one year | 40/41 | €289,792 | €287,760 | -€2,032 | -0.7% |
| Trade receivables | 40 | €267,654 | €272,096 | +€4,442 | +1.7% |
| Other amounts receivable | 41 | €22,138 | €15,665 | -€6,473 | -29.2% |
| Current investments | 50/53 | €903,262 | €1,529,456 | +€626,194 | +69.3% |
| Cash at bank and in hand | 54/58 | €339,214 | €62,037 | -€277,178 | -81.7% |
| Deferred charges and accrued income | 490/1 | €13,818 | €4,482 | -€9,337 | -67.6% |
| Total equity and liabilities | 10/49 | €2,145,819 | €2,415,984 | +€270,165 | +12.6% |
| Equity | 10/15 | €1,833,639 | €501,172 | -€1.3m | -72.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,815,039 | €482,572 | -€1.3m | -73.4% |
| Distributable reserves | 133 | €1,815,039 | €482,572 | -€1.3m | -73.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €312,180 | €1,914,812 | +€1.6m | +513% |
| Amounts payable after more than one year | 17 | €117,008 | €62,475 | -€54,533 | -46.6% |
| Financial debts | 170/4 | €117,008 | €62,475 | -€54,533 | -46.6% |
| Amounts payable within one year | 42/48 | €195,172 | €1,852,336 | +€1.7m | +849% |
| Current portion of amounts payable after more than one year | 42 | €69,115 | €54,533 | -€14,583 | -21.1% |
| Financial debts | 43 | €8,444 | €20,996 | +€12,552 | +149% |
| Credit institutions | 430/8 | €8,444 | €20,996 | +€12,552 | +149% |
| Trade debts | 44 | €86,420 | €12,724 | -€73,696 | -85.3% |
| Suppliers | 440/4 | €86,420 | €12,724 | -€73,696 | -85.3% |
| Taxes, remuneration and social security | 45 | €29,986 | €342,335 | +€312,349 | +1,042% |
| Taxes | 450/3 | €29,986 | €342,335 | +€312,349 | +1,042% |
| Other amounts payable | 47/48 | €1,206 | €1,421,748 | +€1.4m | +117,749% |
| Non-recurring operating income | 76A | €4,132 | €0 | -€4,132 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,013 | €67,632 | +€619 | +0.9% |
| Other operating charges | 640/8 | €4,742 | €6,953 | +€2,211 | +46.6% |
| Non-recurring operating charges | 66A | €0 | €578 | +€578 | |
| Gross operating margin | 9900 | €1,097,520 | €1,029,754 | -€67,766 | -6.2% |
| Operating profit (loss) | 9901 | €1,025,766 | €954,592 | -€71,174 | -6.9% |
| Financial income | 75/76B | €4,431 | €259,337 | +€254,906 | +5,753% |
| Recurring financial income | 75 | €4,431 | €259,337 | +€254,906 | +5,753% |
| Financial charges | 65/66B | €46,555 | €17,278 | -€29,277 | -62.9% |
| Recurring financial charges | 65 | €46,069 | €17,278 | -€28,791 | -62.5% |
| Non-recurring financial charges | 66B | €486 | €0 | -€486 | -100% |
| Profit (loss) for the period before taxes | 9903 | €983,641 | €1,196,651 | +€213,009 | +21.7% |
| Income taxes | 67/77 | €261,239 | €244,215 | -€17,024 | -6.5% |
| Profit (loss) for the period | 9904 | €722,402 | €952,435 | +€230,033 | +31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €722,402 | €952,435 | +€230,033 | +31.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.