PHEVEN: 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.
PHEVEN
Largest movements
- Current investments +€34,622
up €34,622 (+34.3%), from €101,023 to €135,645
- Tangible fixed assets -€32,591
down €32,591 (-18.6%), from €175,483 to €142,892
of which Furniture and vehicles: -€16,543
- Cash +€22,165
up €22,165 (+41.6%), from €53,317 to €75,482
mainly Net result for the year (+€56,512) and Depreciation (+€36,878)
- Reserves +€56,000
up €56,000 (+33.1%), from €169,110 to €225,110
of which Distributable reserves: +€56,000
- Debts after one year -€26,874
down €26,874 (-38.4%), from €70,001 to €43,127
- Depreciation +€9,921
up €9,921 (+36.8%), from €26,957 to €36,878
- Taxes -€3,906
down €3,906 (-15.2%), from €25,702 to €21,796
- Staff costs +€2,732
up €2,732 (+28.8%), from €9,490 to €12,222
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 | €350,260 | €377,681 | +€27,422 | +7.8% |
| Fixed assets | 21/28 | €175,748 | €143,157 | -€32,591 | -18.5% |
| Tangible fixed assets | 22/27 | €175,483 | €142,892 | -€32,591 | -18.6% |
| Land and buildings | 22 | €57,662 | €56,482 | -€1,180 | -2.0% |
| Plant, machinery and equipment | 23 | €53,201 | €38,332 | -€14,868 | -27.9% |
| Furniture and vehicles | 24 | €64,621 | €48,078 | -€16,543 | -25.6% |
| Financial fixed assets | 28 | €264 | €264 | = | 0.0% |
| Current assets | 29/58 | €174,512 | €234,525 | +€60,013 | +34.4% |
| Stocks and contracts in progress | 3 | €8,583 | €8,537 | -€46 | -0.5% |
| Stocks | 30/36 | €8,583 | €8,537 | -€46 | -0.5% |
| Amounts receivable within one year | 40/41 | €4,385 | €7,785 | +€3,399 | +77.5% |
| Trade receivables | 40 | - | €4,108 | +€4,108 | |
| Other amounts receivable | 41 | €4,385 | €3,677 | -€708 | -16.2% |
| Current investments | 50/53 | €101,023 | €135,645 | +€34,622 | +34.3% |
| Cash at bank and in hand | 54/58 | €53,317 | €75,482 | +€22,165 | +41.6% |
| Deferred charges and accrued income | 490/1 | €7,203 | €7,076 | -€128 | -1.8% |
| Total equity and liabilities | 10/49 | €350,260 | €377,681 | +€27,422 | +7.8% |
| Equity | 10/15 | €243,261 | €299,774 | +€56,512 | +23.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €169,110 | €225,110 | +€56,000 | +33.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €169,110 | €225,110 | +€56,000 | +33.1% |
| Profit (loss) carried forward | 14 | €55,551 | €56,064 | +€512 | +0.9% |
| Amounts payable | 17/49 | €106,998 | €77,908 | -€29,091 | -27.2% |
| Amounts payable after more than one year | 17 | €70,001 | €43,127 | -€26,874 | -38.4% |
| Financial debts | 170/4 | €70,001 | €43,127 | -€26,874 | -38.4% |
| Amounts payable within one year | 42/48 | €36,997 | €34,781 | -€2,216 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €25,763 | €26,874 | +€1,111 | +4.3% |
| Trade debts | 44 | €4,103 | €2,004 | -€2,099 | -51.2% |
| Suppliers | 440/4 | €4,103 | €2,004 | -€2,099 | -51.2% |
| Taxes, remuneration and social security | 45 | €3,463 | €2,232 | -€1,230 | -35.5% |
| Taxes | 450/3 | €704 | €2,232 | +€1,529 | +217.2% |
| Remuneration and social security | 454/9 | €2,759 | €0 | -€2,759 | -100.0% |
| Other amounts payable | 47/48 | €3,669 | €3,671 | +€1 | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €9,490 | €12,222 | +€2,732 | +28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,957 | €36,878 | +€9,921 | +36.8% |
| Other operating charges | 640/8 | €2,953 | €3,115 | +€163 | +5.5% |
| Gross operating margin | 9900 | €134,977 | €134,629 | -€349 | -0.3% |
| Operating profit (loss) | 9901 | €95,577 | €82,413 | -€13,164 | -13.8% |
| Financial income | 75/76B | €592 | €888 | +€296 | +50.0% |
| Recurring financial income | 75 | €592 | €888 | +€296 | +50.0% |
| Financial charges | 65/66B | €3,887 | €4,993 | +€1,106 | +28.5% |
| Recurring financial charges | 65 | €3,887 | €4,993 | +€1,106 | +28.5% |
| Profit (loss) for the period before taxes | 9903 | €92,283 | €78,308 | -€13,974 | -15.1% |
| Income taxes | 67/77 | €25,702 | €21,796 | -€3,906 | -15.2% |
| Profit (loss) for the period | 9904 | €66,581 | €56,512 | -€10,068 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €66,581 | €56,512 | -€10,068 | -15.1% |
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 30 September 2026 via checked.be.