PHILBO: 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.
PHILBO
Largest movements
- Receivables within one year -€74,172
down €74,172 (-55.5%), from €133,669 to €59,497
of which Trade receivables: -€73,157
- Stocks and contracts -€34,309
down €34,309 (-21.4%), from €160,559 to €126,251
- Tangible fixed assets -€7,546
down €7,546 (-78.0%), from €9,674 to €2,128
of which Furniture and vehicles: -€6,302
- Cash -€5,252
down €5,252 (-3.3%), from €160,701 to €155,448
mainly Net result for the year (-€73,623) and Trade debts (-€41,475)
- Profit (loss) carried forward -€73,623
down €73,623, from €32,495 to -€41,128
- Trade debts -€41,475
down €41,475 (-21.8%), from €190,461 to €148,986
- Other debts -€8,804
down €8,804 (-22.8%), from €38,598 to €29,794
- Gross operating margin +€9,022
up €9,022 (+623.0%), from €1,448 to €10,470
- Other operating charges +€2,503
up €2,503 (+125.8%), from €1,990 to €4,493
- Financial income +€2,450
up €2,450 (+69.7%), from €3,513 to €5,964
- Staff costs +€2,182
up €2,182 (+3.0%), from €72,918 to €75,100
- Depreciation -€255
down €255 (-3.3%), from €7,801 to €7,546
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 | €465,723 | €343,559 | -€122,163 | -26.2% |
| Fixed assets | 21/28 | €9,909 | €2,363 | -€7,546 | -76.2% |
| Tangible fixed assets | 22/27 | €9,674 | €2,128 | -€7,546 | -78.0% |
| Plant, machinery and equipment | 23 | €339 | €0 | -€339 | -100.0% |
| Furniture and vehicles | 24 | €7,054 | €752 | -€6,302 | -89.3% |
| Other tangible fixed assets | 26 | €2,281 | €1,376 | -€905 | -39.7% |
| Financial fixed assets | 28 | €236 | €236 | = | 0.0% |
| Current assets | 29/58 | €455,813 | €341,196 | -€114,617 | -25.1% |
| Stocks and contracts in progress | 3 | €160,559 | €126,251 | -€34,309 | -21.4% |
| Stocks | 30/36 | €160,559 | €126,251 | -€34,309 | -21.4% |
| Amounts receivable within one year | 40/41 | €133,669 | €59,497 | -€74,172 | -55.5% |
| Trade receivables | 40 | €122,958 | €49,801 | -€73,157 | -59.5% |
| Other amounts receivable | 41 | €10,711 | €9,696 | -€1,015 | -9.5% |
| Cash at bank and in hand | 54/58 | €160,701 | €155,448 | -€5,252 | -3.3% |
| Deferred charges and accrued income | 490/1 | €885 | €0 | -€885 | -100.0% |
| Total equity and liabilities | 10/49 | €465,723 | €343,559 | -€122,163 | -26.2% |
| Equity | 10/15 | €146,845 | €73,222 | -€73,623 | -50.1% |
| Contributions | 10/11 | €106,200 | €106,200 | = | 0.0% |
| Reserves | 13 | €8,150 | €8,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,150 | €8,150 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,150 | €8,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,495 | -€41,128 | -€73,623 | |
| Amounts payable | 17/49 | €318,877 | €270,337 | -€48,540 | -15.2% |
| Amounts payable after more than one year | 17 | €70,000 | €70,000 | = | 0.0% |
| Financial debts | 170/4 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €245,177 | €194,787 | -€50,390 | -20.6% |
| Financial debts | 43 | €1,690 | €1,178 | -€513 | -30.3% |
| Credit institutions | 430/8 | - | €1,178 | +€1,178 | |
| Other loans | 439 | €1,690 | €0 | -€1,690 | -100.0% |
| Trade debts | 44 | €190,461 | €148,986 | -€41,475 | -21.8% |
| Suppliers | 440/4 | €190,461 | €148,986 | -€41,475 | -21.8% |
| Taxes, remuneration and social security | 45 | €14,428 | €14,830 | +€402 | +2.8% |
| Taxes | 450/3 | €2,307 | €2,432 | +€125 | +5.4% |
| Remuneration and social security | 454/9 | €12,121 | €12,398 | +€277 | +2.3% |
| Other amounts payable | 47/48 | €38,598 | €29,794 | -€8,804 | -22.8% |
| Accrued charges and deferred income | 492/3 | €3,700 | €5,550 | +€1,850 | +50.0% |
| Remuneration, social security and pensions | 62 | €72,918 | €75,100 | +€2,182 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,801 | €7,546 | -€255 | -3.3% |
| Other operating charges | 640/8 | €1,990 | €4,493 | +€2,503 | +125.8% |
| Gross operating margin | 9900 | €1,448 | €10,470 | +€9,022 | +623.0% |
| Operating profit (loss) | 9901 | -€81,261 | -€76,668 | +€4,593 | +5.7% |
| Financial income | 75/76B | €3,513 | €5,964 | +€2,450 | +69.7% |
| Recurring financial income | 75 | €3,513 | €5,964 | +€2,450 | +69.7% |
| Financial charges | 65/66B | €3,017 | €2,787 | -€230 | -7.6% |
| Recurring financial charges | 65 | €3,017 | €2,787 | -€230 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€80,765 | -€73,491 | +€7,274 | +9.0% |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | -€80,893 | -€73,623 | +€7,270 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€80,893 | -€73,623 | +€7,270 | +9.0% |
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 6 October 2026 via checked.be.