PHIDIOR: 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.
PHIDIOR
Largest movements
- Stocks and contracts -€235,029
down €235,029 (-8.0%), from €2.9m to €2.7m
- Deferred charges and accrued income -€212,495
no longer reported in 2025 (was €212,495)
- Receivables within one year -€100,125
down €100,125 (-57.2%), from €175,108 to €74,983
of which Trade receivables: -€99,666
- Trade debts -€630,373
down €630,373 (-21.4%), from €2.9m to €2.3m
- Accrued charges and deferred income +€112,331
new in 2025: €112,331
- Gross operating margin +€5,167
up €5,167 (+64.9%), from €7,965 to €13,132
- Taxes +€2,747
up €2,747 (+26.0%), from €10,569 to €13,316
- Other operating charges -€966
down €966 (-88.9%), from €1,086 to €120
- Financial charges +€951
up €951 (+66.1%), from €1,438 to €2,389
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 | €3,329,756 | €2,778,405 | -€551,351 | -16.6% |
| Fixed assets | 21/28 | €198 | €198 | = | 0.0% |
| Financial fixed assets | 28 | €198 | €198 | = | 0.0% |
| Current assets | 29/58 | €3,329,557 | €2,778,207 | -€551,351 | -16.6% |
| Stocks and contracts in progress | 3 | €2,937,111 | €2,702,083 | -€235,029 | -8.0% |
| Stocks | 30/36 | €2,937,111 | €2,702,083 | -€235,029 | -8.0% |
| Amounts receivable within one year | 40/41 | €175,108 | €74,983 | -€100,125 | -57.2% |
| Trade receivables | 40 | €174,343 | €74,677 | -€99,666 | -57.2% |
| Other amounts receivable | 41 | €765 | €306 | -€459 | -60.0% |
| Cash at bank and in hand | 54/58 | €4,843 | €1,141 | -€3,703 | -76.5% |
| Deferred charges and accrued income | 490/1 | €212,495 | - | -€212,495 | |
| Total equity and liabilities | 10/49 | €3,329,756 | €2,778,405 | -€551,351 | -16.6% |
| Equity | 10/15 | €332,187 | €329,494 | -€2,693 | -0.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €311,735 | €309,043 | -€2,693 | -0.9% |
| Amounts payable | 17/49 | €2,997,569 | €2,448,911 | -€548,658 | -18.3% |
| Amounts payable within one year | 42/48 | €2,997,569 | €2,336,580 | -€660,989 | -22.1% |
| Financial debts | 43 | €651 | €782 | +€132 | +20.2% |
| Credit institutions | 430/8 | €651 | €782 | +€132 | +20.2% |
| Trade debts | 44 | €2,942,201 | €2,311,829 | -€630,373 | -21.4% |
| Suppliers | 440/4 | €2,942,201 | €2,311,829 | -€630,373 | -21.4% |
| Advances received on contracts in progress | 46 | €26,648 | - | -€26,648 | |
| Taxes, remuneration and social security | 45 | €28,069 | €23,969 | -€4,100 | -14.6% |
| Taxes | 450/3 | €28,069 | €23,969 | -€4,100 | -14.6% |
| Accrued charges and deferred income | 492/3 | - | €112,331 | +€112,331 | |
| Other operating charges | 640/8 | €1,086 | €120 | -€966 | -88.9% |
| Gross operating margin | 9900 | €7,965 | €13,132 | +€5,167 | +64.9% |
| Operating profit (loss) | 9901 | €6,880 | €13,012 | +€6,132 | +89.1% |
| Financial charges | 65/66B | €1,438 | €2,389 | +€951 | +66.1% |
| Recurring financial charges | 65 | €1,438 | €2,389 | +€951 | +66.1% |
| Profit (loss) for the period before taxes | 9903 | €5,441 | €10,623 | +€5,181 | +95.2% |
| Income taxes | 67/77 | €10,569 | €13,316 | +€2,747 | +26.0% |
| Profit (loss) for the period | 9904 | -€5,128 | -€2,693 | +€2,435 | +47.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,128 | -€2,693 | +€2,435 | +47.5% |
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 11 October 2026 via checked.be.