PHIL-INC: 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.
PHIL-INC
Largest movements
- Receivables within one year -€51,391
down €51,391 (-67.9%), from €75,672 to €24,281
of which Other amounts receivable: -€27,782
- Tangible fixed assets -€46,646
down €46,646 (-5.5%), from €845,221 to €798,575
of which Land and buildings: -€31,389
- Deferred charges and accrued income -€32,818
no longer reported in 2025 (was €32,818)
- Stocks and contracts +€29,766
up €29,766 (+54.4%), from €54,704 to €84,470
- Cash -€24,501
down €24,501 (-62.7%), from €39,107 to €14,605
mainly Debts after one year (-€128,505) and Short-term financial debts (-€42,676)
- Debts after one year -€128,505
down €128,505 (-19.6%), from €654,095 to €525,590
of which Financial debts: -€112,171
- Short-term financial debts -€42,676
no longer reported in 2025 (was €42,676)
of which Other loans: -€36,552
- Current portion of long-term debt +€42,039
up €42,039 (+700.7%), from €6,000 to €48,039
- Gross operating margin -€23,748
down €23,748 (-27.3%), from €86,885 to €63,137
- Financial charges +€21,046
up €21,046 (+241.6%), from €8,710 to €29,757
- Financial income +€16,089
up €16,089 (+522354.9%), from €3 to €16,092
- Taxes -€14,665
down €14,665, from €1 to -€14,664
- Depreciation -€3,071
down €3,071 (-4.4%), from €69,236 to €66,165
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 | €1,064,286 | €923,682 | -€140,604 | -13.2% |
| Fixed assets | 21/28 | €861,985 | €800,325 | -€61,660 | -7.2% |
| Intangible fixed assets | 21 | €16,764 | €1,750 | -€15,014 | -89.6% |
| Tangible fixed assets | 22/27 | €845,221 | €798,575 | -€46,646 | -5.5% |
| Land and buildings | 22 | €784,491 | €753,102 | -€31,389 | -4.0% |
| Plant, machinery and equipment | 23 | €15,980 | €12,717 | -€3,263 | -20.4% |
| Furniture and vehicles | 24 | €44,751 | €32,757 | -€11,994 | -26.8% |
| Current assets | 29/58 | €202,301 | €123,357 | -€78,945 | -39.0% |
| Stocks and contracts in progress | 3 | €54,704 | €84,470 | +€29,766 | +54.4% |
| Stocks | 30/36 | €54,704 | €84,470 | +€29,766 | +54.4% |
| Amounts receivable within one year | 40/41 | €75,672 | €24,281 | -€51,391 | -67.9% |
| Trade receivables | 40 | €46,818 | €23,209 | -€23,609 | -50.4% |
| Other amounts receivable | 41 | €28,854 | €1,072 | -€27,782 | -96.3% |
| Cash at bank and in hand | 54/58 | €39,107 | €14,605 | -€24,501 | -62.7% |
| Deferred charges and accrued income | 490/1 | €32,818 | - | -€32,818 | |
| Total equity and liabilities | 10/49 | €1,064,286 | €923,682 | -€140,604 | -13.2% |
| Equity | 10/15 | €295,449 | €291,837 | -€3,612 | -1.2% |
| Contributions | 10/11 | €326,200 | €326,200 | = | 0.0% |
| Revaluation surpluses | 12 | €454,115 | €454,115 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€484,866 | -€488,478 | -€3,612 | -0.7% |
| Amounts payable | 17/49 | €768,838 | €631,845 | -€136,993 | -17.8% |
| Amounts payable after more than one year | 17 | €654,095 | €525,590 | -€128,505 | -19.6% |
| Financial debts | 170/4 | €637,761 | €525,590 | -€112,171 | -17.6% |
| Other amounts payable | 178/9 | €16,334 | - | -€16,334 | |
| Amounts payable within one year | 42/48 | €114,743 | €106,255 | -€8,488 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | €48,039 | +€42,039 | +700.7% |
| Financial debts | 43 | €42,676 | - | -€42,676 | |
| Credit institutions | 430/8 | €6,125 | - | -€6,125 | |
| Other loans | 439 | €36,552 | - | -€36,552 | |
| Trade debts | 44 | €65,049 | €58,075 | -€6,974 | -10.7% |
| Suppliers | 440/4 | €65,049 | €58,075 | -€6,974 | -10.7% |
| Taxes, remuneration and social security | 45 | €1,018 | €141 | -€877 | -86.2% |
| Taxes | 450/3 | €1,018 | €141 | -€877 | -86.2% |
| Remuneration, social security and pensions | 62 | €137 | €804 | +€667 | +487.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,236 | €66,165 | -€3,071 | -4.4% |
| Other operating charges | 640/8 | €2,565 | €780 | -€1,786 | -69.6% |
| Gross operating margin | 9900 | €86,885 | €63,137 | -€23,748 | -27.3% |
| Operating profit (loss) | 9901 | €14,947 | -€4,611 | -€19,558 | |
| Financial income | 75/76B | €3 | €16,092 | +€16,089 | +522354.9% |
| Recurring financial income | 75 | €3 | €16,092 | +€16,089 | +522354.9% |
| Financial charges | 65/66B | €8,710 | €29,757 | +€21,046 | +241.6% |
| Recurring financial charges | 65 | €8,710 | €29,757 | +€21,046 | +241.6% |
| Profit (loss) for the period before taxes | 9903 | €6,239 | -€18,276 | -€24,515 | |
| Income taxes | 67/77 | €1 | -€14,664 | -€14,665 | |
| Profit (loss) for the period | 9904 | €6,239 | -€3,612 | -€9,850 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,239 | -€3,612 | -€9,850 |
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.