PHéNX: 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.
What changed
PHéNX
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€53,509
2024 · €32,645+€20,864
Equity
€300,108
2024 · €246,600+€53,509
Cash
€133,226
2024 · €133,689-€462
Balance sheet total
€1.2m
2024 · €1.6m-€360,930
Largest movements
Assets
- Receivables within one year -€276,361
down €276,361 (-22.8%), from €1.2m to €934,712
of which Other amounts receivable: -€170,808
- Financial fixed assets -€49,965
down €49,965 (-79.3%), from €63,042 to €13,077
- Tangible fixed assets -€36,066
down €36,066 (-25.5%), from €141,218 to €105,152
Equity and liabilities
- Short-term financial debts -€221,257
down €221,257 (-33.6%), from €657,857 to €436,601
of which Credit institutions: -€245,603
- Trade debts -€159,373
down €159,373 (-38.7%), from €411,840 to €252,467
- Profit (loss) carried forward +€53,509
up €53,509 (+36.8%), from €145,496 to €199,005
- Tax, wage and social debts +€40,285
up €40,285 (+43.8%), from €92,068 to €132,353
of which Taxes: +€31,181
- Provisions -€40,000
no longer reported in 2025 (was €40,000)
Income statement
- Gross operating margin +€40,806
up €40,806 (+4.1%), from €988,389 to €1.0m
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
€32,645
Gross operating margin
+€40,806
Staff costs
-€1,464
Depreciation
-€6,944
Other operating charges
+€129
Financial income
-€4
Financial charges
-€2,981
Taxes
-€8,678
Result 2025
€53,509
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.
From operations
+€200,691
Investment
+€46,425
Financing
-€247,578
Cash 2024
€133,689
From operations (derived)
+€200,691
Net result for the year
+€53,509
Depreciation
+€39,606
Receivables within one year
+€276,361
Deferred charges and accrued income
-€1,925
Provisions
-€40,000
Trade debts
-€159,373
Tax, wage and social debts
+€40,285
Other debts
+€1,561
Accrued charges and deferred income
-€9,334
Investment (derived)
+€46,425
Investment in fixed assets (net)
+€46,425
Financing
-€247,578
Debts after one year
-€27,165
Current portion of long-term debt
+€844
Short-term financial debts
-€221,257
Cash 2025
€133,226
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,575,047 | €1,214,117 | -€360,930 | -22.9% |
| Fixed assets | 21/28 | €204,261 | €118,230 | -€86,031 | -42.1% |
| Tangible fixed assets | 22/27 | €141,218 | €105,152 | -€36,066 | -25.5% |
| Furniture and vehicles | 24 | €141,218 | €105,152 | -€36,066 | -25.5% |
| Financial fixed assets | 28 | €63,042 | €13,077 | -€49,965 | -79.3% |
| Current assets | 29/58 | €1,370,786 | €1,095,888 | -€274,899 | -20.1% |
| Amounts receivable within one year | 40/41 | €1,211,074 | €934,712 | -€276,361 | -22.8% |
| Trade receivables | 40 | €998,513 | €892,960 | -€105,553 | -10.6% |
| Other amounts receivable | 41 | €212,561 | €41,752 | -€170,808 | -80.4% |
| Cash at bank and in hand | 54/58 | €133,689 | €133,226 | -€462 | -0.3% |
| Deferred charges and accrued income | 490/1 | €26,024 | €27,949 | +€1,925 | +7.4% |
| Total equity and liabilities | 10/49 | €1,575,047 | €1,214,117 | -€360,930 | -22.9% |
| Equity | 10/15 | €246,600 | €300,108 | +€53,509 | +21.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,104 | €1,104 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,104 | €1,104 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,104 | €1,104 | = | 0.0% |
| Profit (loss) carried forward | 14 | €145,496 | €199,005 | +€53,509 | +36.8% |
| Provisions and deferred taxes | 16 | €40,000 | - | -€40,000 | |
| Provisions for liabilities and charges | 160/5 | €40,000 | - | -€40,000 | |
| Environmental obligations | 163 | €40,000 | - | -€40,000 | |
| Amounts payable | 17/49 | €1,288,448 | €914,009 | -€374,438 | -29.1% |
| Amounts payable after more than one year | 17 | €88,397 | €61,232 | -€27,165 | -30.7% |
| Financial debts | 170/4 | €88,397 | €61,232 | -€27,165 | -30.7% |
| Amounts payable within one year | 42/48 | €1,190,138 | €852,198 | -€337,939 | -28.4% |
| Current portion of amounts payable after more than one year | 42 | €26,322 | €27,165 | +€844 | +3.2% |
| Financial debts | 43 | €657,857 | €436,601 | -€221,257 | -33.6% |
| Credit institutions | 430/8 | €593,984 | €348,382 | -€245,603 | -41.3% |
| Other loans | 439 | €63,873 | €88,219 | +€24,346 | +38.1% |
| Trade debts | 44 | €411,840 | €252,467 | -€159,373 | -38.7% |
| Suppliers | 440/4 | €411,840 | €252,467 | -€159,373 | -38.7% |
| Taxes, remuneration and social security | 45 | €92,068 | €132,353 | +€40,285 | +43.8% |
| Taxes | 450/3 | €13 | €31,194 | +€31,181 | +246882.9% |
| Remuneration and social security | 454/9 | €92,055 | €101,159 | +€9,104 | +9.9% |
| Other amounts payable | 47/48 | €2,051 | €3,612 | +€1,561 | +76.1% |
| Accrued charges and deferred income | 492/3 | €9,913 | €579 | -€9,334 | -94.2% |
| Non-recurring operating income | 76A | - | €40,000 | +€40,000 | |
| Remuneration, social security and pensions | 62 | €880,789 | €882,253 | +€1,464 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,662 | €39,606 | +€6,944 | +21.3% |
| Other operating charges | 640/8 | €4,734 | €4,605 | -€129 | -2.7% |
| Gross operating margin | 9900 | €988,389 | €1,029,195 | +€40,806 | +4.1% |
| Operating profit (loss) | 9901 | €70,204 | €102,731 | +€32,527 | +46.3% |
| Financial income | 75/76B | €13 | €8 | -€4 | -34.6% |
| Recurring financial income | 75 | €13 | €8 | -€4 | -34.6% |
| Financial charges | 65/66B | €12,444 | €15,425 | +€2,981 | +24.0% |
| Recurring financial charges | 65 | €12,444 | €15,425 | +€2,981 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €57,773 | €87,315 | +€29,542 | +51.1% |
| Income taxes | 67/77 | €25,128 | €33,806 | +€8,678 | +34.5% |
| Profit (loss) for the period | 9904 | €32,645 | €53,509 | +€20,864 | +63.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,645 | €53,509 | +€20,864 | +63.9% |
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 5 October 2026 via checked.be.