PHENOX: 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.
PHENOX
Largest movements
- Cash +€137,608
up €137,608 (+43.7%), from €314,907 to €452,515
mainly Net result for the year (+€116,737) and Current portion of long-term debt (+€45,706)
- Stocks and contracts +€80,299
up €80,299 (+36.0%), from €222,798 to €303,097
- Receivables within one year -€20,384
down €20,384 (-24.8%), from €82,169 to €61,785
of which Trade receivables: -€19,046
- Tangible fixed assets -€20,121
down €20,121 (-22.7%), from €88,600 to €68,479
of which Furniture and vehicles: -€14,262
- Reserves +€116,737
up €116,737 (+48.0%), from €243,129 to €359,866
of which Distributable reserves: +€116,737
- Current portion of long-term debt +€45,706
up €45,706 (+643.3%), from €7,104 to €52,810
- Tax, wage and social debts +€43,067
up €43,067 (+112.4%), from €38,324 to €81,391
- Trade debts +€38,292
up €38,292 (+26.6%), from €143,941 to €182,233
- Advances received -€37,913
down €37,913 (-97.2%), from €38,992 to €1,079
- Gross operating margin +€117,056
up €117,056 (+117.5%), from €99,613 to €216,670
- Taxes +€31,369
up €31,369 (+124.8%), from €25,136 to €56,504
- Financial income -€5,668
down €5,668 (-95.6%), from €5,932 to €263
of which Non-recurring financial income: -€5,932
- Depreciation +€4,181
up €4,181 (+17.3%), from €24,217 to €28,398
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 | €709,643 | €887,046 | +€177,403 | +25.0% |
| Fixed assets | 21/28 | €89,770 | €69,649 | -€20,121 | -22.4% |
| Tangible fixed assets | 22/27 | €88,600 | €68,479 | -€20,121 | -22.7% |
| Land and buildings | 22 | €44,733 | €40,999 | -€3,734 | -8.3% |
| Plant, machinery and equipment | 23 | €3,625 | €1,501 | -€2,125 | -58.6% |
| Furniture and vehicles | 24 | €40,241 | €25,979 | -€14,262 | -35.4% |
| Financial fixed assets | 28 | €1,170 | €1,170 | = | 0.0% |
| Current assets | 29/58 | €619,874 | €817,397 | +€197,524 | +31.9% |
| Stocks and contracts in progress | 3 | €222,798 | €303,097 | +€80,299 | +36.0% |
| Stocks | 30/36 | €222,798 | €303,097 | +€80,299 | +36.0% |
| Amounts receivable within one year | 40/41 | €82,169 | €61,785 | -€20,384 | -24.8% |
| Trade receivables | 40 | €48,130 | €29,084 | -€19,046 | -39.6% |
| Other amounts receivable | 41 | €34,039 | €32,702 | -€1,338 | -3.9% |
| Cash at bank and in hand | 54/58 | €314,907 | €452,515 | +€137,608 | +43.7% |
| Total equity and liabilities | 10/49 | €709,643 | €887,046 | +€177,403 | +25.0% |
| Equity | 10/15 | €304,629 | €421,366 | +€116,737 | +38.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €243,129 | €359,866 | +€116,737 | +48.0% |
| Non-distributable reserves | 130/1 | €13,195 | €13,195 | = | 0.0% |
| Legal reserve | 130 | €13,195 | €13,195 | = | 0.0% |
| Distributable reserves | 133 | €229,934 | €346,671 | +€116,737 | +50.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €405,015 | €465,680 | +€60,665 | +15.0% |
| Amounts payable within one year | 42/48 | €294,453 | €331,031 | +€36,578 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €7,104 | €52,810 | +€45,706 | +643.3% |
| Financial debts | 43 | €17,672 | €0 | -€17,672 | -100.0% |
| Credit institutions | 430/8 | €17,672 | €0 | -€17,672 | -100.0% |
| Trade debts | 44 | €143,941 | €182,233 | +€38,292 | +26.6% |
| Suppliers | 440/4 | €143,941 | €182,233 | +€38,292 | +26.6% |
| Advances received on contracts in progress | 46 | €38,992 | €1,079 | -€37,913 | -97.2% |
| Taxes, remuneration and social security | 45 | €38,324 | €81,391 | +€43,067 | +112.4% |
| Taxes | 450/3 | €38,324 | €81,391 | +€43,067 | +112.4% |
| Other amounts payable | 47/48 | €48,419 | €13,517 | -€34,902 | -72.1% |
| Accrued charges and deferred income | 492/3 | €110,562 | €134,650 | +€24,088 | +21.8% |
| Non-recurring operating income | 76A | - | €439 | +€439 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,217 | €28,398 | +€4,181 | +17.3% |
| Other operating charges | 640/8 | €1,430 | €1,726 | +€296 | +20.7% |
| Non-recurring operating charges | 66A | - | €11,019 | +€11,019 | |
| Gross operating margin | 9900 | €99,613 | €216,670 | +€117,056 | +117.5% |
| Operating profit (loss) | 9901 | €73,966 | €175,526 | +€101,560 | +137.3% |
| Financial income | 75/76B | €5,932 | €263 | -€5,668 | -95.6% |
| Recurring financial income | 75 | €5,932 | €263 | -€5,668 | -95.6% |
| Non-recurring financial income | 76B | €5,932 | €0 | -€5,932 | -100.0% |
| Financial charges | 65/66B | €3,476 | €2,547 | -€928 | -26.7% |
| Recurring financial charges | 65 | €1,055 | €2,547 | +€1,492 | +141.4% |
| Non-recurring financial charges | 66B | €2,421 | €0 | -€2,421 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €76,422 | €173,242 | +€96,820 | +126.7% |
| Income taxes | 67/77 | €25,136 | €56,504 | +€31,369 | +124.8% |
| Profit (loss) for the period | 9904 | €51,286 | €116,737 | +€65,451 | +127.6% |
| Profit (loss) for the period to be appropriated | 9905 | €51,286 | €116,737 | +€65,451 | +127.6% |
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 7 October 2026 via checked.be.