PHIGER: 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.
PHIGER
Largest movements
- Tangible fixed assets +€783,888
up €783,888 (+11,770%), from €6,660 to €790,548
of which Other tangible fixed assets: +€435,268
- Receivables within one year +€44,554
up €44,554 (+70.8%), from €62,899 to €107,452
of which Other amounts receivable: +€30,316
- Formation expenses +€21,625
new in 2025: €21,625
- Stocks and contracts +€15,582
new in 2025: €15,582
- Debts after one year +€555,222
new in 2025: €555,222
- Other debts +€221,629
new in 2025: €221,629
- Profit (loss) carried forward -€114,482
down €114,482 (-4,240%), from -€2,700 to -€117,182
- Current portion of long-term debt +€92,298
new in 2025: €92,298
- Trade debts +€85,610
up €85,610 (+796%), from €10,759 to €96,368
- Staff costs +€170,609
new in 2025: €170,609
- Gross operating margin +€132,345
up €132,345, from -€2,700 to €129,645
- Depreciation +€54,730
new in 2025: €54,730
- Financial charges +€17,702
new in 2025: €17,702
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 | €69,559 | €945,761 | +€876,202 | +1,260% |
| Formation expenses | 20 | - | €21,625 | +€21,625 | |
| Fixed assets | 21/28 | €6,660 | €790,548 | +€783,888 | +11,770% |
| Tangible fixed assets | 22/27 | €6,660 | €790,548 | +€783,888 | +11,770% |
| Plant, machinery and equipment | 23 | - | €305,740 | +€305,740 | |
| Furniture and vehicles | 24 | - | €49,540 | +€49,540 | |
| Other tangible fixed assets | 26 | - | €435,268 | +€435,268 | |
| Assets under construction and advance payments | 27 | €6,660 | €0 | -€6,660 | -100% |
| Current assets | 29/58 | €62,899 | €133,587 | +€70,688 | +112% |
| Stocks and contracts in progress | 3 | - | €15,582 | +€15,582 | |
| Stocks | 30/36 | - | €15,582 | +€15,582 | |
| Amounts receivable within one year | 40/41 | €62,899 | €107,452 | +€44,554 | +70.8% |
| Trade receivables | 40 | - | €14,237 | +€14,237 | |
| Other amounts receivable | 41 | €62,899 | €93,215 | +€30,316 | +48.2% |
| Cash at bank and in hand | 54/58 | - | €6,906 | +€6,906 | |
| Deferred charges and accrued income | 490/1 | - | €3,646 | +€3,646 | |
| Total equity and liabilities | 10/49 | €69,559 | €945,761 | +€876,202 | +1,260% |
| Equity | 10/15 | €58,800 | -€55,682 | -€114,482 | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,700 | -€117,182 | -€114,482 | -4,240% |
| Amounts payable | 17/49 | €10,759 | €1,001,443 | +€990,684 | +9,208% |
| Amounts payable after more than one year | 17 | - | €555,222 | +€555,222 | |
| Financial debts | 170/4 | - | €555,222 | +€555,222 | |
| Amounts payable within one year | 42/48 | €10,759 | €446,221 | +€435,462 | +4,048% |
| Current portion of amounts payable after more than one year | 42 | - | €92,298 | +€92,298 | |
| Trade debts | 44 | €10,759 | €96,368 | +€85,610 | +796% |
| Suppliers | 440/4 | €10,759 | €96,368 | +€85,610 | +796% |
| Taxes, remuneration and social security | 45 | - | €35,925 | +€35,925 | |
| Taxes | 450/3 | - | €1,649 | +€1,649 | |
| Remuneration and social security | 454/9 | - | €34,276 | +€34,276 | |
| Other amounts payable | 47/48 | - | €221,629 | +€221,629 | |
| Non-recurring operating income | 76A | - | €140 | +€140 | |
| Remuneration, social security and pensions | 62 | - | €170,609 | +€170,609 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €54,730 | +€54,730 | |
| Other operating charges | 640/8 | - | €939 | +€939 | |
| Non-recurring operating charges | 66A | - | €146 | +€146 | |
| Gross operating margin | 9900 | -€2,700 | €129,645 | +€132,345 | |
| Operating profit (loss) | 9901 | -€2,700 | -€96,780 | -€94,080 | -3,484% |
| Financial charges | 65/66B | - | €17,702 | +€17,702 | |
| Recurring financial charges | 65 | - | €17,702 | +€17,702 | |
| Profit (loss) for the period before taxes | 9903 | -€2,700 | -€114,482 | -€111,782 | -4,140% |
| Profit (loss) for the period | 9904 | -€2,700 | -€114,482 | -€111,782 | -4,140% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,700 | -€114,482 | -€111,782 | -4,140% |
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 20 October 2026 via checked.be.