PHENIX 2011: what changed
Two financial 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.
What changed
PHENIX 2011
NACE 68.321, Property management for co-owned buildings (syndics)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€8,348
2024 · -€40,217+€31,869
Equity
€328,284
2024 · €336,632-€8,348
Cash
€1,358
2024 · €22,075-€20,717
Balance sheet total
€2.2m
2024 · €2.2m+€4,840
Largest movements
Assets
- Receivables within one year +€95,765
up €95,765 (+366%), from €26,165 to €121,930
of which Trade receivables: +€95,788
- Tangible fixed assets -€70,208
down €70,208 (-3.3%), from €2.1m to €2.1m
Equity and liabilities
- Debts after one year -€120,000
down €120,000 (-20.0%), from €600,000 to €480,000
- Other debts +€99,500
up €99,500 (+10.0%), from €996,000 to €1.1m
- Trade debts +€45,320
up €45,320 (+50.1%), from €90,473 to €135,793
Income statement
- Gross operating margin +€23,174
up €23,174 (+14.8%), from €156,860 to €180,034
- Financial charges -€9,083
down €9,083 (-11.8%), from €76,975 to €67,893
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.
Result 2024
-€40,217
Gross operating margin
+€23,174
Other operating charges
-€388
Financial charges
+€9,083
Result 2025
-€8,348
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€99,283
Investment
€0
Financing
-€120,000
Cash 2024
€22,075
From operations (derived)
+€99,283
Net result for the year
-€8,348
Depreciation
+€70,208
Receivables within one year
-€95,765
Provisions
-€6,174
Trade debts
+€45,320
Tax, wage and social debts
-€1,889
Advances received
-€1,694
Other debts
+€99,500
Accrued charges and deferred income
-€1,876
Financing
-€120,000
Debts after one year
-€120,000
Cash 2025
€1,358
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,194,860 | €2,199,699 | +€4,840 | +0.2% |
| Fixed assets | 21/28 | €2,146,620 | €2,076,412 | -€70,208 | -3.3% |
| Tangible fixed assets | 22/27 | €2,146,620 | €2,076,412 | -€70,208 | -3.3% |
| Land and buildings | 22 | €2,146,620 | €2,076,412 | -€70,208 | -3.3% |
| Current assets | 29/58 | €48,240 | €123,288 | +€75,048 | +156% |
| Amounts receivable within one year | 40/41 | €26,165 | €121,930 | +€95,765 | +366% |
| Trade receivables | 40 | €26,142 | €121,930 | +€95,788 | +366% |
| Other amounts receivable | 41 | €23 | €0 | -€23 | -100% |
| Cash at bank and in hand | 54/58 | €22,075 | €1,358 | -€20,717 | -93.8% |
| Total equity and liabilities | 10/49 | €2,194,860 | €2,199,699 | +€4,840 | +0.2% |
| Equity | 10/15 | €336,632 | €328,284 | -€8,348 | -2.5% |
| Contributions | 10/11 | €22,504 | €22,504 | = | 0.0% |
| Reserves | 13 | €326,415 | €307,892 | -€18,523 | -5.7% |
| Non-distributable reserves | 130/1 | €43,267 | €43,267 | = | 0.0% |
| Reserves not available under the articles | 1311 | €43,267 | €43,267 | = | 0.0% |
| Tax-exempt reserves | 132 | €138,147 | €119,625 | -€18,523 | -13.4% |
| Distributable reserves | 133 | €145,000 | €145,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,287 | -€2,112 | +€10,175 | +82.8% |
| Provisions and deferred taxes | 16 | €46,049 | €39,875 | -€6,174 | -13.4% |
| Deferred taxes | 168 | €46,049 | €39,875 | -€6,174 | -13.4% |
| Amounts payable | 17/49 | €1,812,179 | €1,831,540 | +€19,361 | +1.1% |
| Amounts payable after more than one year | 17 | €600,000 | €480,000 | -€120,000 | -20.0% |
| Financial debts | 170/4 | €600,000 | €480,000 | -€120,000 | -20.0% |
| Amounts payable within one year | 42/48 | €1,210,088 | €1,351,325 | +€141,237 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €120,000 | €120,000 | = | 0.0% |
| Trade debts | 44 | €90,473 | €135,793 | +€45,320 | +50.1% |
| Suppliers | 440/4 | €90,473 | €135,793 | +€45,320 | +50.1% |
| Advances received on contracts in progress | 46 | €1,694 | €0 | -€1,694 | -100% |
| Taxes, remuneration and social security | 45 | €1,921 | €32 | -€1,889 | -98.3% |
| Taxes | 450/3 | €1,921 | €32 | -€1,889 | -98.3% |
| Other amounts payable | 47/48 | €996,000 | €1,095,500 | +€99,500 | +10.0% |
| Accrued charges and deferred income | 492/3 | €2,091 | €215 | -€1,876 | -89.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,208 | €70,208 | = | 0.0% |
| Other operating charges | 640/8 | €56,067 | €56,455 | +€388 | +0.7% |
| Gross operating margin | 9900 | €156,860 | €180,034 | +€23,174 | +14.8% |
| Operating profit (loss) | 9901 | €30,584 | €53,371 | +€22,787 | +74.5% |
| Financial charges | 65/66B | €76,975 | €67,893 | -€9,083 | -11.8% |
| Recurring financial charges | 65 | €76,975 | €67,893 | -€9,083 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | -€46,391 | -€14,522 | +€31,869 | +68.7% |
| Transfer from deferred taxes | 780 | €6,174 | €6,174 | = | 0.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€40,217 | -€8,348 | +€31,869 | +79.2% |
| Transfer from tax-exempt reserves | 789 | €18,523 | €18,523 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,694 | €10,175 | +€31,869 |
Source: filed annual accounts (NBB), financial 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 October 2026 via checked.be.