PHICT: 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.
PHICT
Largest movements
- Current investments +€50,000
up €50,000 (+50.0%), from €100,000 to €150,000
- Tangible fixed assets +€27,919
up €27,919 (+94.6%), from €29,513 to €57,432
of which Furniture and vehicles: +€29,140
- Cash -€27,464
down €27,464 (-30.5%), from €90,133 to €62,669
mainly Current investments (-€50,000) and Investment in fixed assets (net) (-€30,778)
- Receivables within one year +€13,043
up €13,043 (+76.6%), from €17,018 to €30,061
of which Trade receivables: +€14,289
- Deferred charges and accrued income -€8,671
down €8,671 (-86.9%), from €9,978 to €1,308
- Other debts +€27,357
up €27,357 (+7071.8%), from €387 to €27,743
- Reserves +€20,348
up €20,348 (+10.2%), from €199,024 to €219,372
- Tax, wage and social debts +€6,860
up €6,860 (+112.6%), from €6,093 to €12,953
of which Taxes: +€8,299
- Gross operating margin +€37,844
up €37,844 (+96.4%), from €39,255 to €77,099
- Depreciation -€10,745
down €10,745 (-79.0%), from €13,604 to €2,859
- Taxes +€10,288
up €10,288 (+119.6%), from €8,604 to €18,892
- Financial income -€1,709
down €1,709 (-55.0%), from €3,109 to €1,400
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 | €246,642 | €301,470 | +€54,828 | +22.2% |
| Fixed assets | 21/28 | €29,513 | €57,432 | +€27,919 | +94.6% |
| Tangible fixed assets | 22/27 | €29,513 | €57,432 | +€27,919 | +94.6% |
| Plant, machinery and equipment | 23 | €2,949 | €1,728 | -€1,221 | -41.4% |
| Furniture and vehicles | 24 | €26,564 | €55,705 | +€29,140 | +109.7% |
| Current assets | 29/58 | €217,130 | €244,038 | +€26,908 | +12.4% |
| Amounts receivable within one year | 40/41 | €17,018 | €30,061 | +€13,043 | +76.6% |
| Trade receivables | 40 | €11,443 | €25,732 | +€14,289 | +124.9% |
| Other amounts receivable | 41 | €5,575 | €4,329 | -€1,246 | -22.4% |
| Current investments | 50/53 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €90,133 | €62,669 | -€27,464 | -30.5% |
| Deferred charges and accrued income | 490/1 | €9,978 | €1,308 | -€8,671 | -86.9% |
| Total equity and liabilities | 10/49 | €246,642 | €301,470 | +€54,828 | +22.2% |
| Equity | 10/15 | €239,024 | €259,372 | +€20,348 | +8.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €199,024 | €219,372 | +€20,348 | +10.2% |
| Distributable reserves | 133 | €199,024 | €219,372 | +€20,348 | +10.2% |
| Amounts payable | 17/49 | €7,619 | €42,098 | +€34,480 | +452.6% |
| Amounts payable within one year | 42/48 | €6,502 | €40,788 | +€34,286 | +527.3% |
| Trade debts | 44 | €22 | €92 | +€70 | +312.1% |
| Suppliers | 440/4 | €22 | €92 | +€70 | +312.1% |
| Taxes, remuneration and social security | 45 | €6,093 | €12,953 | +€6,860 | +112.6% |
| Taxes | 450/3 | €4,653 | €12,953 | +€8,299 | +178.3% |
| Remuneration and social security | 454/9 | €1,440 | - | -€1,440 | |
| Other amounts payable | 47/48 | €387 | €27,743 | +€27,357 | +7071.8% |
| Accrued charges and deferred income | 492/3 | €1,116 | €1,310 | +€194 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,604 | €2,859 | -€10,745 | -79.0% |
| Other operating charges | 640/8 | €440 | €453 | +€12 | +2.8% |
| Non-recurring operating charges | 66A | - | €8,465 | +€8,465 | |
| Gross operating margin | 9900 | €39,255 | €77,099 | +€37,844 | +96.4% |
| Operating profit (loss) | 9901 | €25,211 | €65,323 | +€40,112 | +159.1% |
| Financial income | 75/76B | €3,109 | €1,400 | -€1,709 | -55.0% |
| Recurring financial income | 75 | €3,109 | €1,400 | -€1,709 | -55.0% |
| Financial charges | 65/66B | €73 | €74 | +€1 | +0.8% |
| Recurring financial charges | 65 | €73 | €74 | +€1 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €28,246 | €66,649 | +€38,403 | +136.0% |
| Income taxes | 67/77 | €8,604 | €18,892 | +€10,288 | +119.6% |
| Profit (loss) for the period | 9904 | €19,642 | €47,757 | +€28,114 | +143.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,642 | €47,757 | +€28,114 | +143.1% |
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 4 October 2026 via checked.be.