PHENIX INFRA: what changed
PHENIX INFRA
Largest movements
- Receivables within one year +€313,645
up €313,645 (+38.9%), from €806,351 to €1.1m
of which Trade receivables: +€333,960
- Cash +€130,572
up €130,572 (+400%), from €32,655 to €163,227
mainly Debts after one year (+€271,698) and Net result for the year (+€194,175)
- Stocks and contracts -€65,234
down €65,234 (-65.9%), from €99,029 to €33,795
of which Stocks: -€54,556
- Debts after one year +€271,698
up €271,698 (+105%), from €258,491 to €530,189
- Reserves +€130,175
up €130,175 (+391%), from €33,334 to €163,509
of which Distributable reserves: +€67,025
- Trade debts -€84,648
down €84,648 (-16.1%), from €525,431 to €440,783
- Other debts +€43,000
up €43,000 (+119%), from €36,000 to €79,000
- Tax, wage and social debts +€17,057
up €17,057 (+192%), from €8,865 to €25,922
of which Remuneration and social security: +€19,019
- Gross operating margin +€180,617
up €180,617 (+62.4%), from €289,344 to €469,961
- Staff costs +€48,077
up €48,077 (+30.2%), from €159,388 to €207,465
- Taxes +€30,756
up €30,756 (+263%), from €11,677 to €42,434
- Financial charges +€19,726
up €19,726 (+603%), from €3,271 to €22,997
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €939,809 | €1,330,622 | +€390,813 | +41.6% |
| Fixed assets | 21/28 | - | €10,531 | +€10,531 | |
| Tangible fixed assets | 22/27 | - | €10,531 | +€10,531 | |
| Furniture and vehicles | 24 | - | €10,531 | +€10,531 | |
| Current assets | 29/58 | €939,809 | €1,320,092 | +€380,282 | +40.5% |
| Stocks and contracts in progress | 3 | €99,029 | €33,795 | -€65,234 | -65.9% |
| Stocks | 30/36 | €88,351 | €33,795 | -€54,556 | -61.7% |
| Contracts in progress | 37 | €10,678 | €0 | -€10,678 | -100% |
| Amounts receivable within one year | 40/41 | €806,351 | €1,119,996 | +€313,645 | +38.9% |
| Trade receivables | 40 | €761,376 | €1,095,336 | +€333,960 | +43.9% |
| Other amounts receivable | 41 | €44,976 | €24,660 | -€20,316 | -45.2% |
| Cash at bank and in hand | 54/58 | €32,655 | €163,227 | +€130,572 | +400% |
| Deferred charges and accrued income | 490/1 | €1,774 | €3,074 | +€1,300 | +73.3% |
| Total equity and liabilities | 10/49 | €939,809 | €1,330,622 | +€390,813 | +41.6% |
| Equity | 10/15 | €108,334 | €238,509 | +€130,175 | +120% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €33,334 | €163,509 | +€130,175 | +391% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €63,150 | +€63,150 | |
| Distributable reserves | 133 | €25,834 | €92,859 | +€67,025 | +259% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €831,476 | €1,092,113 | +€260,638 | +31.3% |
| Amounts payable after more than one year | 17 | €258,491 | €530,189 | +€271,698 | +105% |
| Other amounts payable | 178/9 | €258,491 | €530,189 | +€271,698 | +105% |
| Amounts payable within one year | 42/48 | €570,296 | €545,705 | -€24,591 | -4.3% |
| Trade debts | 44 | €525,431 | €440,783 | -€84,648 | -16.1% |
| Suppliers | 440/4 | €525,431 | €440,783 | -€84,648 | -16.1% |
| Taxes, remuneration and social security | 45 | €8,865 | €25,922 | +€17,057 | +192% |
| Taxes | 450/3 | €6,677 | €4,716 | -€1,962 | -29.4% |
| Remuneration and social security | 454/9 | €2,188 | €21,206 | +€19,019 | +869% |
| Other amounts payable | 47/48 | €36,000 | €79,000 | +€43,000 | +119% |
| Accrued charges and deferred income | 492/3 | €2,689 | €16,219 | +€13,530 | +503% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €159,388 | €207,465 | +€48,077 | +30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €514 | +€514 | |
| Other operating charges | 640/8 | €1,886 | €2,375 | +€489 | +26.0% |
| Gross operating margin | 9900 | €289,344 | €469,961 | +€180,617 | +62.4% |
| Operating profit (loss) | 9901 | €128,071 | €259,606 | +€131,535 | +103% |
| Financial income | 75/76B | €1,176 | €0 | -€1,176 | -100% |
| Recurring financial income | 75 | €1,176 | €0 | -€1,176 | -100% |
| Financial charges | 65/66B | €3,271 | €22,997 | +€19,726 | +603% |
| Recurring financial charges | 65 | €3,271 | €22,997 | +€19,726 | +603% |
| Profit (loss) for the period before taxes | 9903 | €125,975 | €236,609 | +€110,633 | +87.8% |
| Income taxes | 67/77 | €11,677 | €42,434 | +€30,756 | +263% |
| Profit (loss) for the period | 9904 | €114,298 | €194,175 | +€79,877 | +69.9% |
| Transfer to tax-exempt reserves | 689 | - | €63,150 | +€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €114,298 | €131,025 | +€16,727 | +14.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.