PHILADELPHUS: 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.
PHILADELPHUS
Largest movements
- Cash -€7.1m
down €7.1m (-78.3%), from €9.0m to €2.0m
mainly Debts after one year (-€8.4m) and Investment in fixed assets (net) (-€620,197)
- Tangible fixed assets -€838,916
down €838,916 (-4.0%), from €21.2m to €20.3m
of which Other tangible fixed assets: -€21.0m
- Debts after one year -€8.4m
down €8.4m (-42.3%), from €19.8m to €11.4m
- Profit (loss) carried forward +€802,223
up €802,223 (+59.5%), from €1.3m to €2.2m
- Financial income -€295,751
down €295,751 (-74.7%), from €396,055 to €100,304
- Gross operating margin +€212,182
up €212,182 (+7.4%), from €2.9m to €3.1m
- Financial charges -€78,323
down €78,323 (-20.5%), from €381,741 to €303,418
- Other operating charges +€57,547
up €57,547 (+22.7%), from €253,437 to €310,984
- Depreciation +€31,542
up €31,542 (+2.2%), from €1.4m to €1.5m
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 | €31,053,434 | €23,254,070 | -€7.8m | -25.1% |
| Fixed assets | 21/28 | €21,168,345 | €20,336,886 | -€831,459 | -3.9% |
| Tangible fixed assets | 22/27 | €21,168,345 | €20,329,429 | -€838,916 | -4.0% |
| Land and buildings | 22 | - | €19,933,533 | +€19.9m | |
| Plant, machinery and equipment | 23 | €139,318 | €381,368 | +€242,050 | +174% |
| Furniture and vehicles | 24 | €8,233 | €14,528 | +€6,295 | +76.5% |
| Other tangible fixed assets | 26 | €21,020,794 | - | -€21.0m | |
| Financial fixed assets | 28 | - | €7,457 | +€7,457 | |
| Current assets | 29/58 | €9,885,090 | €2,917,184 | -€7.0m | -70.5% |
| Amounts receivable within one year | 40/41 | €801,986 | €753,357 | -€48,629 | -6.1% |
| Trade receivables | 40 | €618,574 | €748,013 | +€129,439 | +20.9% |
| Other amounts receivable | 41 | €183,412 | €5,344 | -€178,068 | -97.1% |
| Cash at bank and in hand | 54/58 | €9,019,265 | €1,960,763 | -€7.1m | -78.3% |
| Deferred charges and accrued income | 490/1 | €63,839 | €203,064 | +€139,225 | +218% |
| Total equity and liabilities | 10/49 | €31,053,434 | €23,254,070 | -€7.8m | -25.1% |
| Equity | 10/15 | €9,626,184 | €10,470,629 | +€844,445 | +8.8% |
| Contributions | 10/11 | €8,200,000 | €8,200,000 | = | 0.0% |
| Capital | 10 | €8,200,000 | €8,200,000 | = | 0.0% |
| Issued capital | 100 | €8,200,000 | €8,200,000 | = | 0.0% |
| Reserves | 13 | €77,152 | €119,374 | +€42,222 | +54.7% |
| Non-distributable reserves | 130/1 | €77,152 | €119,374 | +€42,222 | +54.7% |
| Legal reserve | 130 | €77,152 | €119,374 | +€42,222 | +54.7% |
| Profit (loss) carried forward | 14 | €1,349,032 | €2,151,255 | +€802,223 | +59.5% |
| Amounts payable | 17/49 | €21,427,250 | €12,783,441 | -€8.6m | -40.3% |
| Amounts payable after more than one year | 17 | €19,800,000 | €11,430,000 | -€8.4m | -42.3% |
| Financial debts | 170/4 | €19,800,000 | €11,430,000 | -€8.4m | -42.3% |
| Amounts payable within one year | 42/48 | €636,406 | €386,927 | -€249,480 | -39.2% |
| Trade debts | 44 | €521,011 | €249,849 | -€271,162 | -52.0% |
| Suppliers | 440/4 | €521,011 | €249,849 | -€271,162 | -52.0% |
| Taxes, remuneration and social security | 45 | €115,380 | €137,062 | +€21,682 | +18.8% |
| Taxes | 450/3 | €115,380 | €137,062 | +€21,682 | +18.8% |
| Other amounts payable | 47/48 | €15 | €15 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €990,844 | €966,515 | -€24,329 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,420,114 | €1,451,656 | +€31,542 | +2.2% |
| Other operating charges | 640/8 | €253,437 | €310,984 | +€57,547 | +22.7% |
| Gross operating margin | 9900 | €2,879,691 | €3,091,873 | +€212,182 | +7.4% |
| Operating profit (loss) | 9901 | €1,206,141 | €1,329,233 | +€123,092 | +10.2% |
| Financial income | 75/76B | €396,055 | €100,304 | -€295,751 | -74.7% |
| Recurring financial income | 75 | €396,055 | €100,304 | -€295,751 | -74.7% |
| Financial charges | 65/66B | €381,741 | €303,418 | -€78,323 | -20.5% |
| Recurring financial charges | 65 | €381,741 | €303,418 | -€78,323 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €1,220,455 | €1,126,119 | -€94,336 | -7.7% |
| Income taxes | 67/77 | €310,750 | €281,674 | -€29,076 | -9.4% |
| Profit (loss) for the period | 9904 | €909,705 | €844,445 | -€65,260 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €909,705 | €844,445 | -€65,260 | -7.2% |
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 17 October 2026 via checked.be.