PHENICKS: 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.
PHENICKS
Largest movements
- Cash -€1.2m
down €1.2m (-94.3%), from €1.3m to €71,385
mainly Contributions, distributions and other (-€1.7m) and Short-term financial debts (-€1.2m)
- Stocks and contracts -€608,117
down €608,117 (-47.7%), from €1.3m to €666,308
- Tangible fixed assets +€502,351
up €502,351 (+55.0%), from €913,240 to €1.4m
of which Furniture and vehicles: +€280,240
- Reserves -€1.7m
down €1.7m (-80.8%), from €2.1m to €396,292
- Other debts +€1.5m
new in 2025: €1.5m
- Short-term financial debts -€1.2m
no longer reported in 2025 (was €1.2m)
- Profit (loss) carried forward +€623,981
up €623,981 (+89.4%), from €697,855 to €1.3m
- Trade debts -€527,614
down €527,614 (-19.8%), from €2.7m to €2.1m
- Purchases and services +€3.1m
up €3.1m (+72.0%), from €4.3m to €7.4m
- Turnover +€3.0m
up €3.0m (+50.1%), from €6.0m to €9.1m
- Gross operating margin +€1.3m
up €1.3m (+70.9%), from €1.9m to €3.2m
- Other operating charges +€509,675
up €509,675 (+868.9%), from €58,657 to €568,332
- Staff costs +€421,870
up €421,870 (+56.9%), from €741,534 to €1.2m
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 | €7,425,164 | €6,205,092 | -€1.2m | -16.4% |
| Fixed assets | 21/28 | €1,215,041 | €1,710,472 | +€495,431 | +40.8% |
| Intangible fixed assets | 21 | €9,058 | €3,017 | -€6,040 | -66.7% |
| Tangible fixed assets | 22/27 | €913,240 | €1,415,591 | +€502,351 | +55.0% |
| Land and buildings | 22 | €498,633 | €484,258 | -€14,375 | -2.9% |
| Plant, machinery and equipment | 23 | €280,924 | €517,411 | +€236,486 | +84.2% |
| Furniture and vehicles | 24 | €133,683 | €413,923 | +€280,240 | +209.6% |
| Financial fixed assets | 28 | €292,743 | €291,863 | -€880 | -0.3% |
| Current assets | 29/58 | €6,210,124 | €4,494,620 | -€1.7m | -27.6% |
| Stocks and contracts in progress | 3 | €1,274,424 | €666,308 | -€608,117 | -47.7% |
| Stocks | 30/36 | €1,274,424 | €666,308 | -€608,117 | -47.7% |
| Amounts receivable within one year | 40/41 | €3,667,536 | €3,700,541 | +€33,005 | +0.9% |
| Trade receivables | 40 | €2,922,457 | €2,044,908 | -€877,549 | -30.0% |
| Other amounts receivable | 41 | €745,078 | €1,655,632 | +€910,554 | +122.2% |
| Cash at bank and in hand | 54/58 | €1,256,770 | €71,385 | -€1.2m | -94.3% |
| Deferred charges and accrued income | 490/1 | €11,393 | €56,387 | +€44,994 | +394.9% |
| Total equity and liabilities | 10/49 | €7,425,164 | €6,205,092 | -€1.2m | -16.4% |
| Equity | 10/15 | €2,909,393 | €1,868,128 | -€1.0m | -35.8% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €2,061,539 | €396,292 | -€1.7m | -80.8% |
| Distributable reserves | 133 | €2,061,539 | €396,292 | -€1.7m | -80.8% |
| Profit (loss) carried forward | 14 | €697,855 | €1,321,836 | +€623,981 | +89.4% |
| Amounts payable | 17/49 | €4,515,771 | €4,336,964 | -€178,808 | -4.0% |
| Amounts payable after more than one year | 17 | €443,725 | €286,700 | -€157,024 | -35.4% |
| Financial debts | 170/4 | €443,725 | €286,700 | -€157,024 | -35.4% |
| Amounts payable within one year | 42/48 | €4,071,911 | €4,043,191 | -€28,720 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €112,028 | €229,227 | +€117,199 | +104.6% |
| Financial debts | 43 | €1,200,000 | - | -€1.2m | |
| Credit institutions | 430/8 | €1,200,000 | - | -€1.2m | |
| Trade debts | 44 | €2,666,344 | €2,138,730 | -€527,614 | -19.8% |
| Suppliers | 440/4 | €2,666,344 | €2,138,730 | -€527,614 | -19.8% |
| Taxes, remuneration and social security | 45 | €93,539 | €222,545 | +€129,006 | +137.9% |
| Taxes | 450/3 | €50,743 | €110,625 | +€59,882 | +118.0% |
| Remuneration and social security | 454/9 | €42,795 | €111,919 | +€69,124 | +161.5% |
| Other amounts payable | 47/48 | - | €1,452,689 | +€1.5m | |
| Accrued charges and deferred income | 492/3 | €135 | €7,072 | +€6,937 | +5120.2% |
| Turnover | 70 | €6,046,750 | €9,074,580 | +€3.0m | +50.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €4,273,937 | €7,353,163 | +€3.1m | +72.0% |
| Remuneration, social security and pensions | 62 | €741,534 | €1,163,404 | +€421,870 | +56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,735 | €206,943 | +€80,208 | +63.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €68,241 | €362,788 | +€294,547 | +431.6% |
| Other operating charges | 640/8 | €58,657 | €568,332 | +€509,675 | +868.9% |
| Gross operating margin | 9900 | €1,876,305 | €3,206,319 | +€1.3m | +70.9% |
| Operating profit (loss) | 9901 | €881,138 | €904,851 | +€23,714 | +2.7% |
| Financial income | 75/76B | €15,276 | €8,261 | -€7,015 | -45.9% |
| Recurring financial income | 75 | €15,276 | €8,261 | -€7,015 | -45.9% |
| Financial charges | 65/66B | €50,403 | €62,449 | +€12,046 | +23.9% |
| Recurring financial charges | 65 | €50,403 | €62,449 | +€12,046 | +23.9% |
| Profit (loss) for the period before taxes | 9903 | €846,011 | €850,664 | +€4,653 | +0.5% |
| Income taxes | 67/77 | €230,992 | €223,182 | -€7,810 | -3.4% |
| Profit (loss) for the period | 9904 | €615,019 | €627,481 | +€12,462 | +2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €615,019 | €627,481 | +€12,462 | +2.0% |
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 29 September 2026 via checked.be.