PHIDECO: 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.
PHIDECO
Largest movements
- Tangible fixed assets +€37,745
up €37,745 (+151%), from €25,065 to €62,810
of which Leasing and similar rights: +€41,006
- Cash -€10,862
down €10,862 (-38.1%), from €28,497 to €17,635
mainly Investment in fixed assets (net) (-€50,593) and Stocks and contracts (-€4,628)
- Stocks and contracts +€4,628
up €4,628 (+399%), from €1,161 to €5,788
- Receivables within one year +€4,021
up €4,021 (+23.9%), from €16,857 to €20,878
of which Other amounts receivable: +€7,336
- Debts after one year +€25,238
new in 2025: €25,238
- Reserves +€7,581
up €7,581 (+26.3%), from €28,839 to €36,420
of which Distributable reserves: +€7,581
- Current portion of long-term debt +€6,623
up €6,623, from €0 to €6,623
- Trade debts -€2,867
down €2,867 (-57.4%), from €4,991 to €2,124
- Other debts -€1,354
down €1,354 (-100%), from €1,354 to €0
- Gross operating margin +€34,539
up €34,539, from -€10,387 to €24,151
- Depreciation +€6,276
up €6,276 (+95.5%), from €6,571 to €12,847
- Other operating charges +€5,237
up €5,237 (+10,474%), from €50 to €5,287
- Financial income -€1,557
down €1,557 (-26.1%), from €5,965 to €4,408
- Taxes +€1,333
up €1,333 (+301%), from €443 to €1,775
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 | €74,113 | €109,568 | +€35,456 | +47.8% |
| Fixed assets | 21/28 | €25,248 | €62,993 | +€37,745 | +149% |
| Tangible fixed assets | 22/27 | €25,065 | €62,810 | +€37,745 | +151% |
| Plant, machinery and equipment | 23 | €7,695 | €6,422 | -€1,273 | -16.5% |
| Furniture and vehicles | 24 | €8,377 | €8,189 | -€188 | -2.2% |
| Leasing and similar rights | 25 | - | €41,006 | +€41,006 | |
| Other tangible fixed assets | 26 | €8,992 | €7,193 | -€1,799 | -20.0% |
| Financial fixed assets | 28 | €183 | €183 | = | 0.0% |
| Current assets | 29/58 | €48,865 | €46,575 | -€2,289 | -4.7% |
| Stocks and contracts in progress | 3 | €1,161 | €5,788 | +€4,628 | +399% |
| Stocks | 30/36 | €1,161 | €5,788 | +€4,628 | +399% |
| Amounts receivable within one year | 40/41 | €16,857 | €20,878 | +€4,021 | +23.9% |
| Trade receivables | 40 | €7,280 | €3,964 | -€3,316 | -45.5% |
| Other amounts receivable | 41 | €9,578 | €16,914 | +€7,336 | +76.6% |
| Cash at bank and in hand | 54/58 | €28,497 | €17,635 | -€10,862 | -38.1% |
| Deferred charges and accrued income | 490/1 | €2,350 | €2,274 | -€76 | -3.2% |
| Total equity and liabilities | 10/49 | €74,113 | €109,568 | +€35,456 | +47.8% |
| Equity | 10/15 | €65,356 | €72,938 | +€7,581 | +11.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,839 | €36,420 | +€7,581 | +26.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,871 | €9,871 | = | 0.0% |
| Distributable reserves | 133 | €17,107 | €24,689 | +€7,581 | +44.3% |
| Profit (loss) carried forward | 14 | €17,918 | €17,918 | = | 0.0% |
| Amounts payable | 17/49 | €8,756 | €36,631 | +€27,875 | +318% |
| Amounts payable after more than one year | 17 | - | €25,238 | +€25,238 | |
| Financial debts | 170/4 | - | €25,238 | +€25,238 | |
| Amounts payable within one year | 42/48 | €8,756 | €11,393 | +€2,637 | +30.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €6,623 | +€6,623 | |
| Trade debts | 44 | €4,991 | €2,124 | -€2,867 | -57.4% |
| Suppliers | 440/4 | €4,991 | €2,124 | -€2,867 | -57.4% |
| Taxes, remuneration and social security | 45 | €2,410 | €2,646 | +€235 | +9.8% |
| Taxes | 450/3 | €2,410 | €2,646 | +€235 | +9.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,354 | €0 | -€1,354 | -100% |
| Non-recurring operating income | 76A | €331 | €4,000 | +€3,669 | +1,110% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,571 | €12,847 | +€6,276 | +95.5% |
| Other operating charges | 640/8 | €50 | €5,287 | +€5,237 | +10,474% |
| Gross operating margin | 9900 | -€10,387 | €24,151 | +€34,539 | |
| Operating profit (loss) | 9901 | -€17,008 | €6,017 | +€23,025 | |
| Financial income | 75/76B | €5,965 | €4,408 | -€1,557 | -26.1% |
| Recurring financial income | 75 | €5,965 | €4,408 | -€1,557 | -26.1% |
| Financial charges | 65/66B | €420 | €1,069 | +€649 | +154% |
| Recurring financial charges | 65 | €420 | €1,069 | +€649 | +154% |
| Profit (loss) for the period before taxes | 9903 | -€11,463 | €9,356 | +€20,820 | |
| Income taxes | 67/77 | €443 | €1,775 | +€1,333 | +301% |
| Profit (loss) for the period | 9904 | -€11,906 | €7,581 | +€19,487 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,906 | €7,581 | +€19,487 |
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 18 October 2026 via checked.be.