PHENON: 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.
PHENON
Largest movements
- Receivables after one year +€43,773
up €43,773 (+6.8%), from €644,500 to €688,273
- Financial fixed assets +€33,864
up €33,864 (+12.0%), from €282,421 to €316,284
- Cash -€22,784
down €22,784 (-79.6%), from €28,627 to €5,843
mainly Receivables after one year (-€43,773) and Investment in fixed assets (net) (-€33,864)
- Receivables within one year +€17,905
up €17,905 (+25.4%), from €70,601 to €88,507
of which Other amounts receivable: +€18,499
- Profit (loss) carried forward +€60,131
up €60,131 (+12.2%), from €491,488 to €551,619
- Financial charges -€84,704
down €84,704 (-54.9%), from €154,171 to €69,467
- Taxes +€24,322
up €24,322 (+1,085%), from €2,243 to €26,565
- Financial income +€8,199
up €8,199 (+8.4%), from €97,819 to €106,018
- Gross operating margin +€3,780
up €3,780 (+6.3%), from €60,028 to €63,808
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,343,470 | €1,406,976 | +€63,506 | +4.7% |
| Fixed assets | 21/28 | €318,704 | €340,714 | +€22,010 | +6.9% |
| Tangible fixed assets | 22/27 | €36,283 | €24,429 | -€11,854 | -32.7% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | 0.0% |
| Furniture and vehicles | 24 | €36,113 | €24,259 | -€11,854 | -32.8% |
| Other tangible fixed assets | 26 | €170 | €170 | = | 0.0% |
| Financial fixed assets | 28 | €282,421 | €316,284 | +€33,864 | +12.0% |
| Current assets | 29/58 | €1,024,766 | €1,066,262 | +€41,496 | +4.0% |
| Amounts receivable after more than one year | 29 | €644,500 | €688,273 | +€43,773 | +6.8% |
| Other amounts receivable | 291 | €644,500 | €688,273 | +€43,773 | +6.8% |
| Amounts receivable within one year | 40/41 | €70,601 | €88,507 | +€17,905 | +25.4% |
| Trade receivables | 40 | €29,968 | €29,374 | -€594 | -2.0% |
| Other amounts receivable | 41 | €40,634 | €59,133 | +€18,499 | +45.5% |
| Current investments | 50/53 | €257,214 | €255,959 | -€1,255 | -0.5% |
| Cash at bank and in hand | 54/58 | €28,627 | €5,843 | -€22,784 | -79.6% |
| Deferred charges and accrued income | 490/1 | €23,824 | €27,681 | +€3,857 | +16.2% |
| Total equity and liabilities | 10/49 | €1,343,470 | €1,406,976 | +€63,506 | +4.7% |
| Equity | 10/15 | €817,948 | €878,079 | +€60,131 | +7.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €307,860 | €307,860 | = | 0.0% |
| Distributable reserves | 133 | €307,860 | €307,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €491,488 | €551,619 | +€60,131 | +12.2% |
| Amounts payable | 17/49 | €525,522 | €528,897 | +€3,375 | +0.6% |
| Amounts payable after more than one year | 17 | €19,745 | €10,454 | -€9,292 | -47.1% |
| Financial debts | 170/4 | €19,745 | €10,454 | -€9,292 | -47.1% |
| Amounts payable within one year | 42/48 | €505,776 | €518,443 | +€12,667 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €8,961 | €9,292 | +€331 | +3.7% |
| Trade debts | 44 | €9,289 | €12,951 | +€3,662 | +39.4% |
| Suppliers | 440/4 | €9,289 | €12,951 | +€3,662 | +39.4% |
| Taxes, remuneration and social security | 45 | €48,950 | €46,368 | -€2,581 | -5.3% |
| Taxes | 450/3 | €48,950 | €46,368 | -€2,581 | -5.3% |
| Other amounts payable | 47/48 | €438,577 | €449,832 | +€11,255 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,854 | €11,854 | = | 0.0% |
| Other operating charges | 640/8 | €1,711 | €1,809 | +€98 | +5.7% |
| Gross operating margin | 9900 | €60,028 | €63,808 | +€3,780 | +6.3% |
| Operating profit (loss) | 9901 | €46,463 | €50,145 | +€3,681 | +7.9% |
| Financial income | 75/76B | €97,819 | €106,018 | +€8,199 | +8.4% |
| Recurring financial income | 75 | €97,819 | €106,018 | +€8,199 | +8.4% |
| Financial charges | 65/66B | €154,171 | €69,467 | -€84,704 | -54.9% |
| Recurring financial charges | 65 | €154,171 | €69,467 | -€84,704 | -54.9% |
| Profit (loss) for the period before taxes | 9903 | -€9,889 | €86,696 | +€96,585 | |
| Income taxes | 67/77 | €2,243 | €26,565 | +€24,322 | +1,085% |
| Profit (loss) for the period | 9904 | -€12,131 | €60,131 | +€72,262 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,131 | €60,131 | +€72,262 |
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 31 October 2026 via checked.be.