PHI4U: 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.
PHI4U
Largest movements
- Tangible fixed assets -€50,619
down €50,619 (-23.8%), from €212,664 to €162,045
of which Furniture and vehicles: -€69,759
- Cash -€31,162
down €31,162 (-26.1%), from €119,215 to €88,053
mainly Debts after one year (-€108,659) and Current portion of long-term debt (-€38,020)
- Receivables within one year -€30,548
down €30,548 (-61.8%), from €49,440 to €18,892
of which Trade receivables: -€46,000
- Debts after one year -€108,659
down €108,659 (-100.0%), from €108,659 to €0
- Current portion of long-term debt -€38,020
down €38,020 (-100.0%), from €38,020 to €0
- Reserves +€29,321
up €29,321 (+15.4%), from €190,812 to €220,133
of which Distributable reserves: +€29,321
- Other debts +€22,845
up €22,845 (+201.1%), from €11,358 to €34,203
- Tax, wage and social debts -€15,906
down €15,906 (-96.8%), from €16,434 to €528
of which Taxes: -€15,906
- Gross operating margin -€112,378
down €112,378 (-42.0%), from €267,536 to €155,158
- Taxes -€42,048
down €42,048 (-77.0%), from €54,630 to €12,582
- Financial charges +€32,478
up €32,478 (+69.4%), from €46,796 to €79,273
- Depreciation -€8,180
down €8,180 (-24.7%), from €33,179 to €24,999
- Other operating charges +€7,969
up €7,969 (+763.0%), from €1,044 to €9,014
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 | €382,695 | €269,433 | -€113,262 | -29.6% |
| Fixed assets | 21/28 | €212,664 | €162,045 | -€50,619 | -23.8% |
| Tangible fixed assets | 22/27 | €212,664 | €162,045 | -€50,619 | -23.8% |
| Land and buildings | 22 | €127,347 | €146,906 | +€19,558 | +15.4% |
| Plant, machinery and equipment | 23 | €1,720 | €1,302 | -€418 | -24.3% |
| Furniture and vehicles | 24 | €83,597 | €13,837 | -€69,759 | -83.4% |
| Current assets | 29/58 | €170,030 | €107,388 | -€62,643 | -36.8% |
| Amounts receivable within one year | 40/41 | €49,440 | €18,892 | -€30,548 | -61.8% |
| Trade receivables | 40 | €46,000 | €0 | -€46,000 | -100.0% |
| Other amounts receivable | 41 | €3,440 | €18,892 | +€15,452 | +449.2% |
| Cash at bank and in hand | 54/58 | €119,215 | €88,053 | -€31,162 | -26.1% |
| Deferred charges and accrued income | 490/1 | €1,375 | €442 | -€933 | -67.8% |
| Total equity and liabilities | 10/49 | €382,695 | €269,433 | -€113,262 | -29.6% |
| Equity | 10/15 | €203,509 | €231,997 | +€28,488 | +14.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €190,812 | €220,133 | +€29,321 | +15.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €188,952 | €218,273 | +€29,321 | +15.5% |
| Profit (loss) carried forward | 14 | €6,497 | €5,664 | -€833 | -12.8% |
| Amounts payable | 17/49 | €179,185 | €37,436 | -€141,749 | -79.1% |
| Amounts payable after more than one year | 17 | €108,659 | €0 | -€108,659 | -100.0% |
| Financial debts | 170/4 | €108,659 | €0 | -€108,659 | -100.0% |
| Amounts payable within one year | 42/48 | €70,526 | €36,212 | -€34,314 | -48.7% |
| Current portion of amounts payable after more than one year | 42 | €38,020 | €0 | -€38,020 | -100.0% |
| Trade debts | 44 | €4,714 | €1,481 | -€3,233 | -68.6% |
| Suppliers | 440/4 | €4,714 | €1,481 | -€3,233 | -68.6% |
| Taxes, remuneration and social security | 45 | €16,434 | €528 | -€15,906 | -96.8% |
| Taxes | 450/3 | €16,434 | €528 | -€15,906 | -96.8% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €11,358 | €34,203 | +€22,845 | +201.1% |
| Accrued charges and deferred income | 492/3 | - | €1,224 | +€1,224 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,179 | €24,999 | -€8,180 | -24.7% |
| Other operating charges | 640/8 | €1,044 | €9,014 | +€7,969 | +763.0% |
| Gross operating margin | 9900 | €267,536 | €155,158 | -€112,378 | -42.0% |
| Operating profit (loss) | 9901 | €233,313 | €121,145 | -€112,167 | -48.1% |
| Financial income | 75/76B | €543 | €30 | -€513 | -94.4% |
| Recurring financial income | 75 | €543 | €30 | -€513 | -94.4% |
| Financial charges | 65/66B | €46,796 | €79,273 | +€32,478 | +69.4% |
| Recurring financial charges | 65 | €46,796 | €79,273 | +€32,478 | +69.4% |
| Profit (loss) for the period before taxes | 9903 | €187,060 | €41,902 | -€145,158 | -77.6% |
| Income taxes | 67/77 | €54,630 | €12,582 | -€42,048 | -77.0% |
| Profit (loss) for the period | 9904 | €132,431 | €29,321 | -€103,110 | -77.9% |
| Profit (loss) for the period to be appropriated | 9905 | €132,431 | €29,321 | -€103,110 | -77.9% |
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 11 October 2026 via checked.be.