Phénix: 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.
Phénix
Largest movements
- Tangible fixed assets -€66,147
down €66,147 (-3.4%), from €1.9m to €1.9m
of which Land and buildings: -€67,127
- Cash +€62,387
up €62,387 (+21.0%), from €296,757 to €359,144
mainly Net result for the year (+€171,163) and Depreciation (+€123,941)
- Receivables within one year +€57,830
up €57,830 (+19.3%), from €299,185 to €357,015
of which Trade receivables: +€190,810
- Current investments -€32,230
down €32,230 (-7.5%), from €432,230 to €400,000
- Reserves +€171,163
up €171,163 (+91.3%), from €187,547 to €358,710
- Provisions -€56,794
down €56,794 (-82.2%), from €69,057 to €12,264
- Accrued charges and deferred income -€41,733
down €41,733 (-80.4%), from €51,894 to €10,161
- Investment grants -€41,061
down €41,061 (-3.9%), from €1.1m to €1.0m
- Debts after one year -€37,667
down €37,667 (-5.7%), from €663,667 to €626,000
- Staff costs -€48,189
down €48,189 (-2.7%), from €1.8m to €1.7m
- Gross operating margin -€22,696
down €22,696 (-1.2%), from €1.9m to €1.9m
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 | €2,988,439 | €3,003,233 | +€14,794 | +0.5% |
| Fixed assets | 21/28 | €1,922,459 | €1,857,276 | -€65,183 | -3.4% |
| Intangible fixed assets | 21 | - | €963 | +€963 | |
| Tangible fixed assets | 22/27 | €1,922,459 | €1,856,312 | -€66,147 | -3.4% |
| Land and buildings | 22 | €1,752,615 | €1,685,489 | -€67,127 | -3.8% |
| Furniture and vehicles | 24 | €169,844 | €170,824 | +€980 | +0.6% |
| Current assets | 29/58 | €1,065,980 | €1,145,957 | +€79,977 | +7.5% |
| Amounts receivable within one year | 40/41 | €299,185 | €357,015 | +€57,830 | +19.3% |
| Trade receivables | 40 | €22,152 | €212,962 | +€190,810 | +861.3% |
| Other amounts receivable | 41 | €277,033 | €144,053 | -€132,980 | -48.0% |
| Current investments | 50/53 | €432,230 | €400,000 | -€32,230 | -7.5% |
| Cash at bank and in hand | 54/58 | €296,757 | €359,144 | +€62,387 | +21.0% |
| Deferred charges and accrued income | 490/1 | €37,808 | €29,798 | -€8,010 | -21.2% |
| Total equity and liabilities | 10/49 | €2,988,439 | €3,003,233 | +€14,794 | +0.5% |
| Equity | 10/15 | €1,740,538 | €1,870,640 | +€130,101 | +7.5% |
| Contributions | 10/11 | €1,123 | €1,123 | = | 0.0% |
| Capital | 10 | €1,123 | €1,123 | = | 0.0% |
| Reserves | 13 | €187,547 | €358,710 | +€171,163 | +91.3% |
| Profit (loss) carried forward | 14 | €499,723 | €499,723 | = | 0.0% |
| Investment grants | 15 | €1,052,145 | €1,011,084 | -€41,061 | -3.9% |
| Provisions and deferred taxes | 16 | €69,057 | €12,264 | -€56,794 | -82.2% |
| Provisions for liabilities and charges | 160/5 | €69,057 | €12,264 | -€56,794 | -82.2% |
| Other liabilities and charges | 164/5 | €69,057 | €12,264 | -€56,794 | -82.2% |
| Amounts payable | 17/49 | €1,178,843 | €1,120,330 | -€58,514 | -5.0% |
| Amounts payable after more than one year | 17 | €663,667 | €626,000 | -€37,667 | -5.7% |
| Financial debts | 170/4 | €663,667 | €626,000 | -€37,667 | -5.7% |
| Amounts payable within one year | 42/48 | €463,283 | €484,169 | +€20,886 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €37,667 | €37,667 | = | 0.0% |
| Trade debts | 44 | €43,296 | €43,002 | -€293 | -0.7% |
| Suppliers | 440/4 | €43,296 | €43,002 | -€293 | -0.7% |
| Taxes, remuneration and social security | 45 | €357,783 | €330,485 | -€27,297 | -7.6% |
| Taxes | 450/3 | €71,845 | €64,157 | -€7,687 | -10.7% |
| Remuneration and social security | 454/9 | €285,938 | €266,328 | -€19,610 | -6.9% |
| Accrued charges and deferred income | 492/3 | €51,894 | €10,161 | -€41,733 | -80.4% |
| Non-recurring operating income | 76A | - | €24,664 | +€24,664 | |
| Remuneration, social security and pensions | 62 | €1,792,548 | €1,744,359 | -€48,189 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,428 | €123,941 | +€3,513 | +2.9% |
| Other operating charges | 640/8 | €18,750 | €16,133 | -€2,617 | -14.0% |
| Non-recurring operating charges | 66A | €48 | €2,041 | +€1,993 | +4151.5% |
| Gross operating margin | 9900 | €1,940,902 | €1,918,206 | -€22,696 | -1.2% |
| Operating profit (loss) | 9901 | €62,465 | €88,526 | +€26,061 | +41.7% |
| Financial income | 75/76B | €102,461 | €95,133 | -€7,327 | -7.2% |
| Recurring financial income | 75 | €102,461 | €95,133 | -€7,327 | -7.2% |
| Financial charges | 65/66B | €12,788 | €12,212 | -€576 | -4.5% |
| Recurring financial charges | 65 | €12,788 | €12,212 | -€576 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €152,138 | €171,447 | +€19,309 | +12.7% |
| Income taxes | 67/77 | €83 | €285 | +€201 | +241.1% |
| Profit (loss) for the period | 9904 | €152,055 | €171,163 | +€19,108 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €152,055 | €171,163 | +€19,108 | +12.6% |
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 6 October 2026 via checked.be.