PHIDECA: 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.
PHIDECA
Largest movements
- Current investments -€128,451
down €128,451 (-32.1%), from €400,012 to €271,561
- Receivables within one year +€100,558
up €100,558 (+4,653%), from €2,161 to €102,719
of which Other amounts receivable: +€100,000
- Tangible fixed assets -€34,072
down €34,072 (-11.0%), from €308,379 to €274,307
of which Land and buildings: -€19,915
- Cash +€25,617
up €25,617 (+50.0%), from €51,203 to €76,820
mainly Current investments (+€128,451) and Net result for the year (+€110,696)
- Debts after one year -€100,000
no longer reported in 2025 (was €100,000)
- Reserves +€74,045
up €74,045 (+13.3%), from €556,174 to €630,219
- Other debts -€13,593
down €13,593 (-75.7%), from €17,957 to €4,364
- Depreciation -€6,963
down €6,963 (-13.5%), from €51,686 to €44,724
- Gross operating margin -€2,806
down €2,806 (-1.1%), from €254,398 to €251,592
- Staff costs +€2,648
up €2,648 (+6.7%), from €39,401 to €42,050
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.
Derived cash bridge
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 | €776,911 | €738,533 | -€38,378 | -4.9% |
| Fixed assets | 21/28 | €308,403 | €274,332 | -€34,072 | -11.0% |
| Tangible fixed assets | 22/27 | €308,379 | €274,307 | -€34,072 | -11.0% |
| Land and buildings | 22 | €172,875 | €152,960 | -€19,915 | -11.5% |
| Plant, machinery and equipment | 23 | €131,023 | €119,227 | -€11,796 | -9.0% |
| Furniture and vehicles | 24 | €3,728 | €1,618 | -€2,110 | -56.6% |
| Other tangible fixed assets | 26 | €753 | €502 | -€251 | -33.3% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €468,507 | €464,201 | -€4,306 | -0.9% |
| Stocks and contracts in progress | 3 | €7,768 | €7,405 | -€363 | -4.7% |
| Stocks | 30/36 | €7,768 | €7,405 | -€363 | -4.7% |
| Amounts receivable within one year | 40/41 | €2,161 | €102,719 | +€100,558 | +4,653% |
| Trade receivables | 40 | €2,161 | €2,719 | +€558 | +25.8% |
| Other amounts receivable | 41 | - | €100,000 | +€100,000 | |
| Current investments | 50/53 | €400,012 | €271,561 | -€128,451 | -32.1% |
| Cash at bank and in hand | 54/58 | €51,203 | €76,820 | +€25,617 | +50.0% |
| Deferred charges and accrued income | 490/1 | €7,362 | €5,697 | -€1,666 | -22.6% |
| Total equity and liabilities | 10/49 | €776,911 | €738,533 | -€38,378 | -4.9% |
| Equity | 10/15 | €619,765 | €693,911 | +€74,146 | +12.0% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €556,174 | €630,219 | +€74,045 | +13.3% |
| Distributable reserves | 133 | €556,174 | €630,219 | +€74,045 | +13.3% |
| Profit (loss) carried forward | 14 | €724 | €825 | +€101 | +13.9% |
| Investment grants | 15 | €367 | €367 | = | 0.0% |
| Amounts payable | 17/49 | €157,145 | €44,621 | -€112,524 | -71.6% |
| Amounts payable after more than one year | 17 | €100,000 | - | -€100,000 | |
| Financial debts | 170/4 | €100,000 | - | -€100,000 | |
| Amounts payable within one year | 42/48 | €57,145 | €44,621 | -€12,524 | -21.9% |
| Trade debts | 44 | €9,935 | €13,766 | +€3,831 | +38.6% |
| Suppliers | 440/4 | €9,935 | €13,766 | +€3,831 | +38.6% |
| Taxes, remuneration and social security | 45 | €29,253 | €26,491 | -€2,762 | -9.4% |
| Taxes | 450/3 | €20,087 | €17,080 | -€3,007 | -15.0% |
| Remuneration and social security | 454/9 | €9,166 | €9,411 | +€245 | +2.7% |
| Other amounts payable | 47/48 | €17,957 | €4,364 | -€13,593 | -75.7% |
| Non-recurring operating income | 76A | €6,908 | €942 | -€5,966 | -86.4% |
| Remuneration, social security and pensions | 62 | €39,401 | €42,050 | +€2,648 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,686 | €44,724 | -€6,963 | -13.5% |
| Other operating charges | 640/8 | €3,778 | €3,874 | +€96 | +2.5% |
| Non-recurring operating charges | 66A | €1,379 | - | -€1,379 | |
| Gross operating margin | 9900 | €254,398 | €251,592 | -€2,806 | -1.1% |
| Operating profit (loss) | 9901 | €158,154 | €160,944 | +€2,791 | +1.8% |
| Financial income | 75/76B | €1,446 | €2,212 | +€766 | +53.0% |
| Recurring financial income | 75 | €1,446 | €2,212 | +€766 | +53.0% |
| Financial charges | 65/66B | €9,704 | €7,298 | -€2,407 | -24.8% |
| Recurring financial charges | 65 | €9,704 | €7,298 | -€2,407 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €149,896 | €155,859 | +€5,964 | +4.0% |
| Income taxes | 67/77 | €43,001 | €45,163 | +€2,162 | +5.0% |
| Profit (loss) for the period | 9904 | €106,894 | €110,696 | +€3,802 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €106,894 | €110,696 | +€3,802 | +3.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.