PHIL -MED: 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 -MED
Largest movements
- Tangible fixed assets +€441,954
up €441,954 (+108%), from €409,787 to €851,742
of which Land and buildings: +€443,776
- Receivables within one year +€182,902
up €182,902 (+248,914%), from €73 to €182,976
of which Other amounts receivable: +€182,937
- Cash -€113,605
down €113,605 (-44.3%), from €256,729 to €143,124
mainly Investment in fixed assets (net) (-€548,829) and Receivables within one year (-€182,902)
- Current portion of long-term debt +€230,390
up €230,390 (+280%), from €82,216 to €312,606
- Profit (loss) carried forward +€167,212
up €167,212 (+258%), from €64,787 to €231,999
- Debts after one year +€138,231
up €138,231 (+129%), from €107,566 to €245,797
- Tax, wage and social debts -€17,112
down €17,112 (-55.4%), from €30,891 to €13,779
- Depreciation +€61,054
up €61,054 (+133%), from €45,821 to €106,875
- Gross operating margin +€55,178
up €55,178 (+19.4%), from €284,685 to €339,863
- Taxes -€14,118
down €14,118 (-19.0%), from €74,375 to €60,257
- Financial income +€6,563
up €6,563 (+1,992%), from €329 to €6,893
- Other operating charges -€4,256
down €4,256 (-47.4%), from €8,985 to €4,729
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 | €745,590 | €1,261,175 | +€515,585 | +69.2% |
| Fixed assets | 21/28 | €409,787 | €851,742 | +€441,954 | +108% |
| Tangible fixed assets | 22/27 | €409,787 | €851,742 | +€441,954 | +108% |
| Land and buildings | 22 | €393,648 | €837,425 | +€443,776 | +113% |
| Plant, machinery and equipment | 23 | €13,917 | €13,804 | -€113 | -0.8% |
| Furniture and vehicles | 24 | €2,222 | €513 | -€1,709 | -76.9% |
| Current assets | 29/58 | €335,803 | €409,433 | +€73,631 | +21.9% |
| Amounts receivable after more than one year | 29 | €79,000 | €79,000 | = | 0.0% |
| Other amounts receivable | 291 | €79,000 | €79,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €73 | €182,976 | +€182,902 | +248,914% |
| Trade receivables | 40 | €73 | €39 | -€35 | -47.5% |
| Other amounts receivable | 41 | - | €182,937 | +€182,937 | |
| Cash at bank and in hand | 54/58 | €256,729 | €143,124 | -€113,605 | -44.3% |
| Deferred charges and accrued income | 490/1 | - | €4,334 | +€4,334 | |
| Total equity and liabilities | 10/49 | €745,590 | €1,261,175 | +€515,585 | +69.2% |
| Equity | 10/15 | €516,206 | €683,418 | +€167,212 | +32.4% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €445,222 | €445,222 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €443,363 | €443,363 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,787 | €231,999 | +€167,212 | +258% |
| Amounts payable | 17/49 | €229,384 | €577,757 | +€348,373 | +152% |
| Amounts payable after more than one year | 17 | €107,566 | €245,797 | +€138,231 | +129% |
| Financial debts | 170/4 | €107,566 | €245,797 | +€138,231 | +129% |
| Amounts payable within one year | 42/48 | €121,818 | €331,960 | +€210,142 | +173% |
| Current portion of amounts payable after more than one year | 42 | €82,216 | €312,606 | +€230,390 | +280% |
| Trade debts | 44 | €4,449 | €5,575 | +€1,126 | +25.3% |
| Suppliers | 440/4 | €4,449 | €5,575 | +€1,126 | +25.3% |
| Taxes, remuneration and social security | 45 | €30,891 | €13,779 | -€17,112 | -55.4% |
| Taxes | 450/3 | €30,891 | €13,779 | -€17,112 | -55.4% |
| Other amounts payable | 47/48 | €4,261 | - | -€4,261 | |
| Remuneration, social security and pensions | 62 | €4,553 | €3,629 | -€925 | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,821 | €106,875 | +€61,054 | +133% |
| Other operating charges | 640/8 | €8,985 | €4,729 | -€4,256 | -47.4% |
| Gross operating margin | 9900 | €284,685 | €339,863 | +€55,178 | +19.4% |
| Operating profit (loss) | 9901 | €225,326 | €224,631 | -€695 | -0.3% |
| Financial income | 75/76B | €329 | €6,893 | +€6,563 | +1,992% |
| Recurring financial income | 75 | €329 | €6,893 | +€6,563 | +1,992% |
| Financial charges | 65/66B | €5,401 | €4,055 | -€1,346 | -24.9% |
| Recurring financial charges | 65 | €5,401 | €4,055 | -€1,346 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €220,254 | €227,469 | +€7,215 | +3.3% |
| Income taxes | 67/77 | €74,375 | €60,257 | -€14,118 | -19.0% |
| Profit (loss) for the period | 9904 | €145,880 | €167,212 | +€21,333 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €145,880 | €167,212 | +€21,333 | +14.6% |
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 16 October 2026 via checked.be.