PHHL: 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.
PHHL
Largest movements
- Receivables within one year +€20,773
up €20,773 (+76.7%), from €27,077 to €47,850
of which Other amounts receivable: +€22,273
- Tangible fixed assets -€2,601
down €2,601 (-86.7%), from €3,001 to €400
of which Land and buildings: -€2,100
- Cash -€1,219
down €1,219 (-93.6%), from €1,303 to €84
mainly Receivables within one year (-€20,773) and Trade debts (-€721)
- Intangible fixed assets -€595
down €595 (-10.4%), from €5,745 to €5,150
- Other debts +€7,057
up €7,057 (+39.1%), from €18,064 to €25,121
- Profit (loss) carried forward +€7,053
up €7,053 (+7.5%), from -€94,100 to -€87,046
- Debts after one year +€3,000
up €3,000 (+4.6%), from €65,000 to €68,000
- Trade debts -€721
down €721 (-35.6%), from €2,027 to €1,306
- Gross operating margin +€29,114
up €29,114, from -€20,346 to €8,768
- Depreciation +€390
up €390 (+55.3%), from €706 to €1,096
- Other operating charges -€329
down €329 (-38.9%), from €845 to €516
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 | €41,126 | €57,484 | +€16,358 | +39.8% |
| Fixed assets | 21/28 | €12,746 | €9,550 | -€3,196 | -25.1% |
| Intangible fixed assets | 21 | €5,745 | €5,150 | -€595 | -10.4% |
| Tangible fixed assets | 22/27 | €3,001 | €400 | -€2,601 | -86.7% |
| Land and buildings | 22 | €2,100 | €0 | -€2,100 | -100.0% |
| Furniture and vehicles | 24 | €901 | €400 | -€501 | -55.6% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €28,380 | €47,934 | +€19,554 | +68.9% |
| Amounts receivable within one year | 40/41 | €27,077 | €47,850 | +€20,773 | +76.7% |
| Trade receivables | 40 | €13,500 | €12,000 | -€1,500 | -11.1% |
| Other amounts receivable | 41 | €13,577 | €35,850 | +€22,273 | +164.0% |
| Cash at bank and in hand | 54/58 | €1,303 | €84 | -€1,219 | -93.6% |
| Total equity and liabilities | 10/49 | €41,126 | €57,484 | +€16,358 | +39.8% |
| Equity | 10/15 | -€44,100 | -€37,046 | +€7,053 | +16.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,100 | -€87,046 | +€7,053 | +7.5% |
| Amounts payable | 17/49 | €85,226 | €94,530 | +€9,304 | +10.9% |
| Amounts payable after more than one year | 17 | €65,000 | €68,000 | +€3,000 | +4.6% |
| Financial debts | 170/4 | €65,000 | €68,000 | +€3,000 | +4.6% |
| Amounts payable within one year | 42/48 | €20,226 | €26,530 | +€6,304 | +31.2% |
| Financial debts | 43 | €135 | €103 | -€31 | -23.4% |
| Credit institutions | 430/8 | €135 | €103 | -€31 | -23.4% |
| Trade debts | 44 | €2,027 | €1,306 | -€721 | -35.6% |
| Suppliers | 440/4 | €2,027 | €1,306 | -€721 | -35.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €18,064 | €25,121 | +€7,057 | +39.1% |
| Non-recurring operating income | 76A | - | €56 | +€56 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €706 | €1,096 | +€390 | +55.3% |
| Other operating charges | 640/8 | €845 | €516 | -€329 | -38.9% |
| Non-recurring operating charges | 66A | €2,862 | €0 | -€2,862 | -100.0% |
| Gross operating margin | 9900 | -€20,346 | €8,768 | +€29,114 | |
| Operating profit (loss) | 9901 | -€24,759 | €7,156 | +€31,915 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €30 | €103 | +€73 | +242.6% |
| Recurring financial charges | 65 | €30 | €103 | +€73 | +242.6% |
| Profit (loss) for the period before taxes | 9903 | -€24,789 | €7,053 | +€31,842 | |
| Profit (loss) for the period | 9904 | -€24,789 | €7,053 | +€31,842 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,789 | €7,053 | +€31,842 |
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 9 October 2026 via checked.be.