PHIKAT & C°: 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.
What changed
PHIKAT & C°
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2,994
2024 · €962+€2,032
Equity
€957,403
2024 · €954,409+€2,994
Cash
€542
2024 · €672-€130
Balance sheet total
€2.9m
2024 · €2.8m+€57,697
Largest movements
Assets
- Tangible fixed assets +€47,031
up €47,031 (+2.2%), from €2.2m to €2.2m
Equity and liabilities
- Other debts +€136,191
up €136,191 (+17.4%), from €781,195 to €917,386
- Debts after one year -€86,909
down €86,909 (-10.1%), from €861,544 to €774,635
Income statement
- Gross operating margin +€15,412
up €15,412 (+6.7%), from €229,546 to €244,958
- Financial charges +€14,771
up €14,771 (+29.1%), from €50,715 to €65,486
- Financial income +€5,703
up €5,703 (+2715800.0%), from €0 to €5,703
- Depreciation +€3,620
up €3,620 (+2.5%), from €146,750 to €150,370
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.
Result 2024
€962
Gross operating margin
+€15,412
Depreciation
-€3,620
Other operating charges
+€671
Financial income
+€5,703
Financial charges
-€14,771
Taxes
-€1,103
Deferred taxes and other
-€261
Result 2025
€2,994
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.
From operations
+€284,672
Investment
-€197,401
Financing
-€87,400
Cash 2024
€672
From operations (derived)
+€284,672
Net result for the year
+€2,994
Depreciation
+€150,370
Stocks and contracts
-€20,000
Receivables within one year
+€3,511
Deferred charges and accrued income
+€5,693
Provisions
-€2,097
Trade debts
-€11,792
Tax, wage and social debts
-€1,661
Other debts
+€136,191
Accrued charges and deferred income
+€21,462
Investment (derived)
-€197,401
Investment in fixed assets (net)
-€197,401
Financing
-€87,400
Debts after one year
-€86,909
Current portion of long-term debt
-€492
Cash 2025
€542
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,793,506 | €2,851,203 | +€57,697 | +2.1% |
| Fixed assets | 21/28 | €2,756,501 | €2,803,532 | +€47,031 | +1.7% |
| Tangible fixed assets | 22/27 | €2,150,863 | €2,197,894 | +€47,031 | +2.2% |
| Land and buildings | 22 | €2,150,863 | €2,197,894 | +€47,031 | +2.2% |
| Financial fixed assets | 28 | €605,638 | €605,638 | = | 0.0% |
| Current assets | 29/58 | €37,005 | €47,671 | +€10,666 | +28.8% |
| Stocks and contracts in progress | 3 | - | €20,000 | +€20,000 | |
| Stocks | 30/36 | - | €20,000 | +€20,000 | |
| Amounts receivable within one year | 40/41 | €22,177 | €18,665 | -€3,511 | -15.8% |
| Trade receivables | 40 | €22,177 | €18,665 | -€3,511 | -15.8% |
| Cash at bank and in hand | 54/58 | €672 | €542 | -€130 | -19.3% |
| Deferred charges and accrued income | 490/1 | €14,157 | €8,463 | -€5,693 | -40.2% |
| Total equity and liabilities | 10/49 | €2,793,506 | €2,851,203 | +€57,697 | +2.1% |
| Equity | 10/15 | €954,409 | €957,403 | +€2,994 | +0.3% |
| Contributions | 10/11 | €489,720 | €489,720 | = | 0.0% |
| Capital | 10 | €489,720 | €489,720 | = | 0.0% |
| Issued capital | 100 | €489,720 | €489,720 | = | 0.0% |
| Reserves | 13 | €464,689 | €467,683 | +€2,994 | +0.6% |
| Non-distributable reserves | 130/1 | €48,972 | €48,972 | = | 0.0% |
| Legal reserve | 130 | €48,972 | €48,972 | = | 0.0% |
| Tax-exempt reserves | 132 | €62,327 | €56,036 | -€6,291 | -10.1% |
| Distributable reserves | 133 | €353,390 | €362,675 | +€9,285 | +2.6% |
| Provisions and deferred taxes | 16 | €20,776 | €18,679 | -€2,097 | -10.1% |
| Deferred taxes | 168 | €20,776 | €18,679 | -€2,097 | -10.1% |
| Amounts payable | 17/49 | €1,818,321 | €1,875,121 | +€56,800 | +3.1% |
| Amounts payable after more than one year | 17 | €861,544 | €774,635 | -€86,909 | -10.1% |
| Financial debts | 170/4 | €861,544 | €774,635 | -€86,909 | -10.1% |
| Amounts payable within one year | 42/48 | €929,659 | €1,051,905 | +€122,246 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €87,400 | €86,909 | -€492 | -0.6% |
| Trade debts | 44 | €33,387 | €21,595 | -€11,792 | -35.3% |
| Suppliers | 440/4 | €33,387 | €21,595 | -€11,792 | -35.3% |
| Taxes, remuneration and social security | 45 | €27,677 | €26,016 | -€1,661 | -6.0% |
| Taxes | 450/3 | €27,677 | €26,016 | -€1,661 | -6.0% |
| Other amounts payable | 47/48 | €781,195 | €917,386 | +€136,191 | +17.4% |
| Accrued charges and deferred income | 492/3 | €27,118 | €48,581 | +€21,462 | +79.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,750 | €150,370 | +€3,620 | +2.5% |
| Other operating charges | 640/8 | €28,387 | €27,716 | -€671 | -2.4% |
| Gross operating margin | 9900 | €229,546 | €244,958 | +€15,412 | +6.7% |
| Operating profit (loss) | 9901 | €54,410 | €66,873 | +€12,463 | +22.9% |
| Financial income | 75/76B | €0 | €5,703 | +€5,703 | +2715800.0% |
| Recurring financial income | 75 | €0 | €5,703 | +€5,703 | +2715800.0% |
| Financial charges | 65/66B | €50,715 | €65,486 | +€14,771 | +29.1% |
| Recurring financial charges | 65 | €50,715 | €65,486 | +€14,771 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €3,695 | €7,091 | +€3,396 | +91.9% |
| Transfer from deferred taxes | 780 | €2,358 | €2,097 | -€261 | -11.1% |
| Income taxes | 67/77 | €5,091 | €6,194 | +€1,103 | +21.7% |
| Profit (loss) for the period | 9904 | €962 | €2,994 | +€2,032 | +211.2% |
| Transfer from tax-exempt reserves | 789 | €7,074 | €6,291 | -€783 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,036 | €9,285 | +€1,249 | +15.5% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.