PHIL & LAW: 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 & LAW
Largest movements
- Cash +€64,148
up €64,148 (+531%), from €12,071 to €76,219
mainly Net result for the year (+€53,726) and Receivables within one year (+€8,868)
- Receivables within one year -€8,868
no longer reported in 2025 (was €8,868)
- Tangible fixed assets +€1,269
new in 2025: €1,269
- Reserves +€52,016
new in 2025: €52,016
- Tax, wage and social debts +€4,517
up €4,517 (+69.4%), from €6,507 to €11,023
of which Taxes: +€5,515
- Other debts +€2,391
new in 2025: €2,391
- Trade debts -€1,275
down €1,275 (-96.5%), from €1,321 to €46
- Current portion of long-term debt -€1,100
no longer reported in 2025 (was €1,100)
- Gross operating margin +€64,868
up €64,868 (+740%), from €8,772 to €73,640
- Taxes +€17,824
up €17,824 (+1,017%), from €1,753 to €19,577
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 | €20,939 | €77,488 | +€56,549 | +270% |
| Fixed assets | 21/28 | - | €1,269 | +€1,269 | |
| Tangible fixed assets | 22/27 | - | €1,269 | +€1,269 | |
| Furniture and vehicles | 24 | - | €1,269 | +€1,269 | |
| Current assets | 29/58 | €20,939 | €76,219 | +€55,280 | +264% |
| Amounts receivable within one year | 40/41 | €8,868 | - | -€8,868 | |
| Other amounts receivable | 41 | €8,868 | - | -€8,868 | |
| Cash at bank and in hand | 54/58 | €12,071 | €76,219 | +€64,148 | +531% |
| Total equity and liabilities | 10/49 | €20,939 | €77,488 | +€56,549 | +270% |
| Equity | 10/15 | €12,012 | €64,027 | +€52,016 | +433% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €52,016 | +€52,016 | |
| Distributable reserves | 133 | - | €52,016 | +€52,016 | |
| Profit (loss) carried forward | 14 | €7,012 | €7,012 | = | 0.0% |
| Amounts payable | 17/49 | €8,928 | €13,461 | +€4,533 | +50.8% |
| Amounts payable within one year | 42/48 | €8,928 | €13,461 | +€4,533 | +50.8% |
| Current portion of amounts payable after more than one year | 42 | €1,100 | - | -€1,100 | |
| Trade debts | 44 | €1,321 | €46 | -€1,275 | -96.5% |
| Suppliers | 440/4 | €1,321 | €46 | -€1,275 | -96.5% |
| Taxes, remuneration and social security | 45 | €6,507 | €11,023 | +€4,517 | +69.4% |
| Taxes | 450/3 | €5,273 | €10,788 | +€5,515 | +105% |
| Remuneration and social security | 454/9 | €1,234 | €235 | -€998 | -80.9% |
| Other amounts payable | 47/48 | - | €2,391 | +€2,391 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €299 | +€299 | |
| Gross operating margin | 9900 | €8,772 | €73,640 | +€64,868 | +740% |
| Operating profit (loss) | 9901 | €8,772 | €73,340 | +€64,569 | +736% |
| Financial charges | 65/66B | €7 | €38 | +€30 | +427% |
| Recurring financial charges | 65 | €7 | €38 | +€30 | +427% |
| Profit (loss) for the period before taxes | 9903 | €8,764 | €73,303 | +€64,538 | +736% |
| Income taxes | 67/77 | €1,753 | €19,577 | +€17,824 | +1,017% |
| Profit (loss) for the period | 9904 | €7,012 | €53,726 | +€46,714 | +666% |
| Profit (loss) for the period to be appropriated | 9905 | €7,012 | €53,726 | +€46,714 | +666% |
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 26 October 2026 via checked.be.