PHF DISTRIBUTION: 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.
PHF DISTRIBUTION
Largest movements
- Receivables within one year +€83,269
up €83,269 (+832.7%), from €10,000 to €93,269
- Cash -€62,712
down €62,712 (-68.1%), from €92,054 to €29,341
mainly Receivables within one year (-€83,269) and Tax, wage and social debts (-€1,284)
- Deferred charges and accrued income -€5,579
down €5,579 (-33.1%), from €16,845 to €11,266
- Profit (loss) carried forward +€16,204
up €16,204 (+22.3%), from €72,609 to €88,812
- Gross operating margin -€945
down €945 (-3.2%), from €29,121 to €28,175
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 | €161,735 | €176,712 | +€14,977 | +9.3% |
| Fixed assets | 21/28 | €42,836 | €42,836 | = | 0.0% |
| Tangible fixed assets | 22/27 | €42,836 | €42,836 | = | 0.0% |
| Land and buildings | 22 | €42,836 | €42,836 | = | 0.0% |
| Current assets | 29/58 | €118,899 | €133,876 | +€14,977 | +12.6% |
| Amounts receivable within one year | 40/41 | €10,000 | €93,269 | +€83,269 | +832.7% |
| Other amounts receivable | 41 | €10,000 | €93,269 | +€83,269 | +832.7% |
| Cash at bank and in hand | 54/58 | €92,054 | €29,341 | -€62,712 | -68.1% |
| Deferred charges and accrued income | 490/1 | €16,845 | €11,266 | -€5,579 | -33.1% |
| Total equity and liabilities | 10/49 | €161,735 | €176,712 | +€14,977 | +9.3% |
| Equity | 10/15 | €160,386 | €176,589 | +€16,204 | +10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €69,177 | €69,177 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,000 | €1,000 | = | 0.0% |
| Distributable reserves | 133 | €66,317 | €66,317 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,609 | €88,812 | +€16,204 | +22.3% |
| Amounts payable | 17/49 | €1,349 | €123 | -€1,226 | -90.9% |
| Amounts payable within one year | 42/48 | €1,349 | €123 | -€1,226 | -90.9% |
| Trade debts | 44 | - | €58 | +€58 | |
| Suppliers | 440/4 | - | €58 | +€58 | |
| Taxes, remuneration and social security | 45 | €1,349 | €65 | -€1,284 | -95.2% |
| Taxes | 450/3 | €1,349 | €65 | -€1,284 | -95.2% |
| Other operating charges | 640/8 | €5,659 | €5,836 | +€178 | +3.1% |
| Gross operating margin | 9900 | €29,121 | €28,175 | -€945 | -3.2% |
| Operating profit (loss) | 9901 | €23,462 | €22,339 | -€1,123 | -4.8% |
| Financial income | 75/76B | €355 | €92 | -€263 | -74.0% |
| Recurring financial income | 75 | €355 | €92 | -€263 | -74.0% |
| Financial charges | 65/66B | €62 | €116 | +€54 | +88.3% |
| Recurring financial charges | 65 | €62 | €116 | +€54 | +88.3% |
| Profit (loss) for the period before taxes | 9903 | €23,756 | €22,315 | -€1,441 | -6.1% |
| Income taxes | 67/77 | €6,207 | €6,112 | -€96 | -1.5% |
| Profit (loss) for the period | 9904 | €17,548 | €16,204 | -€1,345 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,548 | €16,204 | -€1,345 | -7.7% |
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 29 September 2026 via checked.be.