PHILAG: what changed
Two fiscal 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.
PHILAG
Largest movements
- Tangible fixed assets +€866,329
up €866,329 (+222.0%), from €390,290 to €1.3m
- Cash -€107,129
down €107,129 (-90.5%), from €118,380 to €11,252
mainly Investment in fixed assets (net) (-€892,338) and Net result for the year (-€29,648)
- Other debts +€789,934
up €789,934 (+269.4%), from €293,266 to €1.1m
- Profit (loss) carried forward -€29,648
down €29,648 (-34.4%), from -€86,190 to -€115,838
- Gross operating margin -€15,020
down €15,020, from €13,533 to -€1,486
- Depreciation +€7,426
up €7,426 (+40.0%), from €18,582 to €26,009
- Financial charges -€226
down €226 (-83.4%), from €271 to €45
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 | €511,993 | €1,271,193 | +€759,201 | +148.3% |
| Fixed assets | 21/28 | €390,290 | €1,256,619 | +€866,329 | +222.0% |
| Tangible fixed assets | 22/27 | €390,290 | €1,256,619 | +€866,329 | +222.0% |
| Land and buildings | 22 | €390,290 | €1,256,619 | +€866,329 | +222.0% |
| Current assets | 29/58 | €121,703 | €14,574 | -€107,129 | -88.0% |
| Amounts receivable within one year | 40/41 | €3,322 | €3,322 | = | 0.0% |
| Other amounts receivable | 41 | €3,322 | €3,322 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €118,380 | €11,252 | -€107,129 | -90.5% |
| Total equity and liabilities | 10/49 | €511,993 | €1,271,193 | +€759,201 | +148.3% |
| Equity | 10/15 | €217,062 | €187,414 | -€29,648 | -13.7% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €3,253 | €3,253 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,253 | €3,253 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,253 | €3,253 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,190 | -€115,838 | -€29,648 | -34.4% |
| Amounts payable | 17/49 | €294,930 | €1,083,779 | +€788,849 | +267.5% |
| Amounts payable within one year | 42/48 | €294,930 | €1,083,779 | +€788,849 | +267.5% |
| Trade debts | 44 | €1,664 | €578 | -€1,085 | -65.2% |
| Suppliers | 440/4 | €1,664 | €578 | -€1,085 | -65.2% |
| Other amounts payable | 47/48 | €293,266 | €1,083,201 | +€789,934 | +269.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,582 | €26,009 | +€7,426 | +40.0% |
| Other operating charges | 640/8 | €2,079 | €2,144 | +€65 | +3.1% |
| Gross operating margin | 9900 | €13,533 | -€1,486 | -€15,020 | |
| Operating profit (loss) | 9901 | -€7,128 | -€29,639 | -€22,511 | -315.8% |
| Financial income | 75/76B | - | €36 | +€36 | |
| Recurring financial income | 75 | - | €36 | +€36 | |
| Financial charges | 65/66B | €271 | €45 | -€226 | -83.4% |
| Recurring financial charges | 65 | €271 | €45 | -€226 | -83.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,399 | -€29,648 | -€22,249 | -300.7% |
| Profit (loss) for the period | 9904 | -€7,399 | -€29,648 | -€22,249 | -300.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,399 | -€29,648 | -€22,249 | -300.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.