PHIBA: 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.
What changed
PHIBA
NACE 01.430, Raising of horses and other equines
fiscal year 30-06-2025 against 31-12-2025filed annual accounts (NBB)
Net result for the year
-€365,768
30-06-2025 · €1.9m-€2.3m
Equity
€35,232
30-06-2025 · €401,000-€365,768
Cash
€46,563
30-06-2025 · €43,371+€3,191
Balance sheet total
€8.4m
30-06-2025 · €8.4m+€31,211
Largest movements
Assets
- Receivables within one year +€2.7m
up €2.7m (+65.6%), from €4.1m to €6.9m
of which Other amounts receivable: +€2.7m
- Deferred charges and accrued income -€2.7m
down €2.7m (-92.2%), from €2.9m to €224,094
Equity and liabilities
- Reserves -€332,800
down €332,800 (-98.2%), from €339,000 to €6,200
of which Distributable reserves: -€332,800
- Other debts +€277,850
up €277,850 (+3.6%), from €7.7m to €7.9m
Income statement
- Turnover -€3.0m
down €3.0m (-92.8%), from €3.2m to €230,405
- Goods and materials -€335,178
down €335,178 (-61.7%), from €543,539 to €208,361
of which Change in stocks: decrease (increase): -€280,150
- Services and other goods -€218,085
down €218,085 (-42.7%), from €510,290 to €292,206
- Staff costs -€96,191
down €96,191 (-56.4%), from €170,666 to €74,475
- Depreciation -€56,654
down €56,654 (-67.2%), from €84,323 to €27,669
From the 30-06-2025 result to the 31-12-2025 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.
Result 30-06-2025
€1.9m
Turnover
-€3.0m
Goods and materials
+€335,178
Services and other goods
+€218,085
Staff costs
+€96,191
Depreciation
+€56,654
Other operating charges
-€62
Financial income
-€24,274
Financial charges
-€9,111
Taxes
+€1,882
Result 31-12-2025
-€365,768
Cash bridge derived
Derived from the 30-06-2025 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€3,191
Investment
€0
Financing
€0
Cash 30-06-2025
€43,371
From operations (derived)
+€3,191
Net result for the year
-€365,768
Depreciation
+€27,669
Stocks and contracts
+€11,000
Receivables within one year
-€2.7m
Deferred charges and accrued income
+€2.7m
Trade debts
+€39,566
Tax, wage and social debts
+€579
Other debts
+€277,850
Accrued charges and deferred income
+€78,983
Cash 31-12-2025
€46,563
Every line side by side
| Line | Code | 30-06-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,409,440 | €8,440,651 | +€31,211 | +0.4% |
| Fixed assets | 21/28 | €270,916 | €243,247 | -€27,669 | -10.2% |
| Intangible fixed assets | 21 | €2,602 | €2,602 | = | 0.0% |
| Tangible fixed assets | 22/27 | €268,314 | €240,645 | -€27,669 | -10.3% |
| Land and buildings | 22 | €7,836 | €7,225 | -€611 | -7.8% |
| Plant, machinery and equipment | 23 | €249,639 | €224,508 | -€25,131 | -10.1% |
| Furniture and vehicles | 24 | €154 | €154 | = | 0.0% |
| Other tangible fixed assets | 26 | €10,684 | €8,757 | -€1,927 | -18.0% |
| Current assets | 29/58 | €8,138,524 | €8,197,404 | +€58,880 | +0.7% |
| Stocks and contracts in progress | 3 | €1,076,500 | €1,065,500 | -€11,000 | -1.0% |
| Stocks | 30/36 | €1,076,500 | €1,065,500 | -€11,000 | -1.0% |
| Goods purchased for resale | 34 | €1,076,500 | €1,065,500 | -€11,000 | -1.0% |
| Amounts receivable within one year | 40/41 | €4,143,026 | €6,861,247 | +€2.7m | +65.6% |
| Trade receivables | 40 | €26,321 | €29,570 | +€3,249 | +12.3% |
| Other amounts receivable | 41 | €4,116,705 | €6,831,677 | +€2.7m | +66.0% |
| Cash at bank and in hand | 54/58 | €43,371 | €46,563 | +€3,191 | +7.4% |
| Deferred charges and accrued income | 490/1 | €2,875,627 | €224,094 | -€2.7m | -92.2% |
| Total equity and liabilities | 10/49 | €8,409,440 | €8,440,651 | +€31,211 | +0.4% |
| Equity | 10/15 | €401,000 | €35,232 | -€365,768 | -91.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €339,000 | €6,200 | -€332,800 | -98.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €332,800 | €0 | -€332,800 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€32,968 | -€32,968 | |
| Amounts payable | 17/49 | €8,008,440 | €8,405,419 | +€396,979 | +5.0% |
| Amounts payable after more than one year | 17 | €125,000 | €125,000 | = | 0.0% |
| Financial debts | 170/4 | €125,000 | €125,000 | = | 0.0% |
| Other loans | 174 | €125,000 | €125,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,801,155 | €8,119,151 | +€317,996 | +4.1% |
| Trade debts | 44 | €85,313 | €124,880 | +€39,566 | +46.4% |
| Suppliers | 440/4 | €85,313 | €124,880 | +€39,566 | +46.4% |
| Advances received on contracts in progress | 46 | €24,767 | €24,767 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €38,514 | €39,093 | +€579 | +1.5% |
| Taxes | 450/3 | €5,985 | €11,803 | +€5,818 | +97.2% |
| Remuneration and social security | 454/9 | €32,529 | €27,290 | -€5,239 | -16.1% |
| Other amounts payable | 47/48 | €7,652,561 | €7,930,411 | +€277,850 | +3.6% |
| Accrued charges and deferred income | 492/3 | €82,285 | €161,268 | +€78,983 | +96.0% |
| Operating income | 70/76A | €3,202,451 | €230,405 | -€3.0m | -92.8% |
| Turnover | 70 | €3,202,451 | €230,405 | -€3.0m | -92.8% |
| Other operating income | 74 | €0 | - | = | |
| Operating charges | 60/66A | €1,312,195 | €606,149 | -€706,045 | -53.8% |
| Goods for resale, raw materials and consumables | 60 | €543,539 | €208,361 | -€335,178 | -61.7% |
| Purchases | 600/8 | €252,389 | €197,361 | -€55,028 | -21.8% |
| Change in stocks: decrease (increase) | 609 | €291,150 | €11,000 | -€280,150 | -96.2% |
| Services and other goods | 61 | €510,290 | €292,206 | -€218,085 | -42.7% |
| Remuneration, social security and pensions | 62 | €170,666 | €74,475 | -€96,191 | -56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,323 | €27,669 | -€56,654 | -67.2% |
| Other operating charges | 640/8 | €3,376 | €3,438 | +€62 | +1.8% |
| Operating profit (loss) | 9901 | €1,890,256 | -€375,744 | -€2.3m | |
| Financial income | 75/76B | €109,113 | €84,839 | -€24,274 | -22.2% |
| Recurring financial income | 75 | €109,113 | €84,839 | -€24,274 | -22.2% |
| Income from current assets | 751 | €108,341 | €84,838 | -€23,502 | -21.7% |
| Other financial income | 752/9 | €772 | €0 | -€772 | -100.0% |
| Financial charges | 65/66B | €65,752 | €74,863 | +€9,111 | +13.9% |
| Recurring financial charges | 65 | €65,752 | €74,863 | +€9,111 | +13.9% |
| Debt charges | 650 | €65,710 | €74,863 | +€9,153 | +13.9% |
| Other financial charges | 652/9 | €42 | €0 | -€42 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €1,933,617 | -€365,768 | -€2.3m | |
| Income taxes | 67/77 | €1,882 | €0 | -€1,882 | -100.0% |
| Taxes | 670/3 | €1,882 | €0 | -€1,882 | -100.0% |
| Profit (loss) for the period | 9904 | €1,931,735 | -€365,768 | -€2.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,931,735 | -€365,768 | -€2.3m |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.