PHH LAW: 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.
PHH LAW
Largest movements
- Cash +€178,420
up €178,420 (+242%), from €73,710 to €252,131
mainly Net result for the year (+€116,263) and Tax, wage and social debts (+€40,306)
- Receivables within one year -€9,796
down €9,796 (-98.2%), from €9,976 to €180
- Tangible fixed assets -€6,659
down €6,659 (-20.2%), from €33,031 to €26,372
- Deferred charges and accrued income +€3,800
new in 2025: €3,800
- Reserves +€116,263
up €116,263 (+143%), from €81,030 to €197,292
- Tax, wage and social debts +€40,306
up €40,306 (+142%), from €28,454 to €68,761
- Other debts +€13,956
new in 2025: €13,956
- Trade debts -€5,170
down €5,170 (-82.9%), from €6,233 to €1,063
- Gross operating margin +€56,272
up €56,272 (+54.0%), from €104,200 to €160,472
- Taxes +€14,306
up €14,306 (+65.5%), from €21,857 to €36,163
- Depreciation +€6,396
up €6,396 (+2,432%), from €263 to €6,659
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 | €116,717 | €282,483 | +€165,766 | +142% |
| Fixed assets | 21/28 | €33,031 | €26,372 | -€6,659 | -20.2% |
| Tangible fixed assets | 22/27 | €33,031 | €26,372 | -€6,659 | -20.2% |
| Furniture and vehicles | 24 | €33,031 | €26,372 | -€6,659 | -20.2% |
| Current assets | 29/58 | €83,686 | €256,111 | +€172,425 | +206% |
| Amounts receivable within one year | 40/41 | €9,976 | €180 | -€9,796 | -98.2% |
| Other amounts receivable | 41 | €9,976 | €180 | -€9,796 | -98.2% |
| Cash at bank and in hand | 54/58 | €73,710 | €252,131 | +€178,420 | +242% |
| Deferred charges and accrued income | 490/1 | - | €3,800 | +€3,800 | |
| Total equity and liabilities | 10/49 | €116,717 | €282,483 | +€165,766 | +142% |
| Equity | 10/15 | €82,030 | €198,292 | +€116,263 | +142% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €81,030 | €197,292 | +€116,263 | +143% |
| Distributable reserves | 133 | €81,030 | €197,292 | +€116,263 | +143% |
| Amounts payable | 17/49 | €34,687 | €84,191 | +€49,504 | +143% |
| Amounts payable within one year | 42/48 | €34,687 | €83,779 | +€49,092 | +142% |
| Trade debts | 44 | €6,233 | €1,063 | -€5,170 | -82.9% |
| Suppliers | 440/4 | €6,233 | €1,063 | -€5,170 | -82.9% |
| Taxes, remuneration and social security | 45 | €28,454 | €68,761 | +€40,306 | +142% |
| Taxes | 450/3 | €28,454 | €68,761 | +€40,306 | +142% |
| Other amounts payable | 47/48 | - | €13,956 | +€13,956 | |
| Accrued charges and deferred income | 492/3 | - | €411 | +€411 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €263 | €6,659 | +€6,396 | +2,432% |
| Other operating charges | 640/8 | €977 | €585 | -€391 | -40.1% |
| Gross operating margin | 9900 | €104,200 | €160,472 | +€56,272 | +54.0% |
| Operating profit (loss) | 9901 | €102,961 | €153,228 | +€50,267 | +48.8% |
| Financial charges | 65/66B | €74 | €802 | +€728 | +987% |
| Recurring financial charges | 65 | €74 | €802 | +€728 | +987% |
| Profit (loss) for the period before taxes | 9903 | €102,887 | €152,426 | +€49,539 | +48.1% |
| Income taxes | 67/77 | €21,857 | €36,163 | +€14,306 | +65.5% |
| Profit (loss) for the period | 9904 | €81,030 | €116,263 | +€35,233 | +43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €81,030 | €116,263 | +€35,233 | +43.5% |
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 13 October 2026 via checked.be.