PHIKO: 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.
PHIKO
Largest movements
- Tangible fixed assets -€481,947
down €481,947 (-5.1%), from €9.5m to €9.0m
of which Land and buildings: -€415,446
- Receivables within one year +€221,997
up €221,997 (+46.9%), from €473,639 to €695,636
of which Other amounts receivable: +€397,396
- Reserves +€903,096
new in 2025: €903,096
- Debts after one year -€490,568
down €490,568 (-6.0%), from €8.1m to €7.6m
of which Financial debts: -€520,146
- Other debts -€318,529
down €318,529 (-44.2%), from €720,688 to €402,159
- Profit (loss) carried forward -€267,741
down €267,741 (-34.9%), from €767,741 to €500,000
- Taxes +€108,459
up €108,459 (+112.8%), from €96,145 to €204,604
- Staff costs -€86,358
down €86,358 (-29.5%), from €292,977 to €206,620
- Other operating charges +€36,885
up €36,885 (+17814.7%), from €207 to €37,092
- Gross operating margin +€34,872
up €34,872 (+1.9%), from €1.8m to €1.8m
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 | €10,248,300 | €10,024,707 | -€223,593 | -2.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €9,470,996 | €8,989,049 | -€481,947 | -5.1% |
| Tangible fixed assets | 22/27 | €9,470,996 | €8,989,049 | -€481,947 | -5.1% |
| Land and buildings | 22 | €8,807,308 | €8,391,863 | -€415,446 | -4.7% |
| Plant, machinery and equipment | 23 | €663,688 | €597,187 | -€66,501 | -10.0% |
| Current assets | 29/58 | €777,304 | €1,035,658 | +€258,354 | +33.2% |
| Amounts receivable within one year | 40/41 | €473,639 | €695,636 | +€221,997 | +46.9% |
| Trade receivables | 40 | €444,784 | €269,385 | -€175,399 | -39.4% |
| Other amounts receivable | 41 | €28,855 | €426,251 | +€397,396 | +1377.2% |
| Current investments | 50/53 | €60,446 | €60,446 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €243,179 | €279,493 | +€36,313 | +14.9% |
| Deferred charges and accrued income | 490/1 | €40 | €83 | +€44 | +110.7% |
| Total equity and liabilities | 10/49 | €10,248,300 | €10,024,707 | -€223,593 | -2.2% |
| Equity | 10/15 | €797,741 | €1,433,096 | +€635,355 | +79.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | - | €903,096 | +€903,096 | |
| Distributable reserves | 133 | - | €903,096 | +€903,096 | |
| Profit (loss) carried forward | 14 | €767,741 | €500,000 | -€267,741 | -34.9% |
| Amounts payable | 17/49 | €9,450,559 | €8,591,611 | -€858,948 | -9.1% |
| Amounts payable after more than one year | 17 | €8,111,062 | €7,620,494 | -€490,568 | -6.0% |
| Financial debts | 170/4 | €8,039,963 | €7,519,817 | -€520,146 | -6.5% |
| Other amounts payable | 178/9 | €71,099 | €100,678 | +€29,578 | +41.6% |
| Amounts payable within one year | 42/48 | €1,339,497 | €971,117 | -€368,380 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €509,477 | €520,146 | +€10,669 | +2.1% |
| Trade debts | 44 | €6,041 | €20,347 | +€14,306 | +236.8% |
| Suppliers | 440/4 | €6,041 | €20,347 | +€14,306 | +236.8% |
| Taxes, remuneration and social security | 45 | €103,291 | €28,465 | -€74,826 | -72.4% |
| Remuneration and social security | 454/9 | €103,291 | €28,465 | -€74,826 | -72.4% |
| Other amounts payable | 47/48 | €720,688 | €402,159 | -€318,529 | -44.2% |
| Remuneration, social security and pensions | 62 | €292,977 | €206,620 | -€86,358 | -29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €562,707 | €569,589 | +€6,882 | +1.2% |
| Other operating charges | 640/8 | €207 | €37,092 | +€36,885 | +17814.7% |
| Gross operating margin | 9900 | €1,795,727 | €1,830,599 | +€34,872 | +1.9% |
| Operating profit (loss) | 9901 | €939,836 | €1,017,298 | +€77,463 | +8.2% |
| Financial income | 75/76B | €0 | €225 | +€225 | +54839.0% |
| Recurring financial income | 75 | €0 | €225 | +€225 | +54839.0% |
| Financial charges | 65/66B | €168,419 | €177,564 | +€9,146 | +5.4% |
| Recurring financial charges | 65 | €168,419 | €177,564 | +€9,146 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €771,417 | €839,959 | +€68,542 | +8.9% |
| Income taxes | 67/77 | €96,145 | €204,604 | +€108,459 | +112.8% |
| Profit (loss) for the period | 9904 | €675,272 | €635,355 | -€39,917 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €675,272 | €635,355 | -€39,917 | -5.9% |
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 9 October 2026 via checked.be.