PHIC: 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.
PHIC
Largest movements
- Receivables within one year +€47,658
up €47,658 (+6969.9%), from €684 to €48,341
of which Trade receivables: +€48,341
- Cash -€15,985
down €15,985 (-9.7%), from €165,035 to €149,050
mainly Contributions, distributions and other (-€165,950) and Receivables within one year (-€47,658)
- Tangible fixed assets +€3,160
up €3,160 (+4268.9%), from €74 to €3,234
of which Furniture and vehicles: +€3,160
- Other debts +€63,199
up €63,199 (+55.8%), from €113,295 to €176,494
- Profit (loss) carried forward -€33,244
down €33,244 (-100.0%), from €33,247 to €3
- Tax, wage and social debts +€5,101
up €5,101 (+33.3%), from €15,333 to €20,434
- Gross operating margin +€64,024
up €64,024 (+57.5%), from €111,367 to €175,391
- Taxes +€17,885
up €17,885 (+77.8%), from €22,975 to €40,860
- Depreciation -€3,940
down €3,940 (-89.0%), from €4,429 to €489
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 | €166,441 | €201,029 | +€34,588 | +20.8% |
| Formation expenses | 20 | €253 | €0 | -€253 | -100.0% |
| Fixed assets | 21/28 | €74 | €3,234 | +€3,160 | +4268.9% |
| Tangible fixed assets | 22/27 | €74 | €3,234 | +€3,160 | +4268.9% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €74 | €3,234 | +€3,160 | +4268.9% |
| Current assets | 29/58 | €166,114 | €197,795 | +€31,681 | +19.1% |
| Amounts receivable within one year | 40/41 | €684 | €48,341 | +€47,658 | +6969.9% |
| Trade receivables | 40 | - | €48,341 | +€48,341 | |
| Other amounts receivable | 41 | €684 | - | -€684 | |
| Cash at bank and in hand | 54/58 | €165,035 | €149,050 | -€15,985 | -9.7% |
| Deferred charges and accrued income | 490/1 | €395 | €403 | +€8 | +2.1% |
| Total equity and liabilities | 10/49 | €166,441 | €201,029 | +€34,588 | +20.8% |
| Equity | 10/15 | €37,247 | €4,003 | -€33,244 | -89.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,247 | €3 | -€33,244 | -100.0% |
| Amounts payable | 17/49 | €129,194 | €197,026 | +€67,833 | +52.5% |
| Amounts payable within one year | 42/48 | €129,194 | €197,026 | +€67,833 | +52.5% |
| Trade debts | 44 | €565 | €98 | -€467 | -82.7% |
| Suppliers | 440/4 | €565 | €98 | -€467 | -82.7% |
| Taxes, remuneration and social security | 45 | €15,333 | €20,434 | +€5,101 | +33.3% |
| Taxes | 450/3 | €15,333 | €20,434 | +€5,101 | +33.3% |
| Other amounts payable | 47/48 | €113,295 | €176,494 | +€63,199 | +55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,429 | €489 | -€3,940 | -89.0% |
| Other operating charges | 640/8 | €1,184 | €1,236 | +€52 | +4.4% |
| Gross operating margin | 9900 | €111,367 | €175,391 | +€64,024 | +57.5% |
| Operating profit (loss) | 9901 | €105,753 | €173,665 | +€67,912 | +64.2% |
| Financial income | 75/76B | - | €32 | +€32 | |
| Recurring financial income | 75 | - | €32 | +€32 | |
| Financial charges | 65/66B | €117 | €131 | +€14 | +11.7% |
| Recurring financial charges | 65 | €117 | €131 | +€14 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | €105,636 | €173,566 | +€67,930 | +64.3% |
| Income taxes | 67/77 | €22,975 | €40,860 | +€17,885 | +77.8% |
| Profit (loss) for the period | 9904 | €82,661 | €132,706 | +€50,045 | +60.5% |
| Profit (loss) for the period to be appropriated | 9905 | €82,661 | €132,706 | +€50,045 | +60.5% |
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 9 October 2026 via checked.be.