PHILCO: 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.
PHILCO
Largest movements
- Financial fixed assets -€2.3m
down €2.3m (-100%), from €2.3m to €0
- Tangible fixed assets -€160,185
down €160,185 (-4.9%), from €3.3m to €3.1m
of which Land and buildings: -€160,000
- Debts after one year -€1.2m
down €1.2m (-99.3%), from €1.2m to €8,217
- Short-term financial debts -€937,768
down €937,768 (-30.0%), from €3.1m to €2.2m
- Profit (loss) carried forward -€330,491
down €330,491 (-21.2%), from -€1.6m to -€1.9m
- Revaluation surpluses -€160,000
down €160,000 (-5.0%), from €3.2m to €3.0m
- Reserves +€160,000
up €160,000 (+922%), from €17,353 to €177,353
of which Distributable reserves: +€160,000
- Financial charges -€2.4m
down €2.4m (-95.5%), from €2.5m to €110,729
of which Non-recurring financial charges: -€2.2m
- Depreciation +€159,428
up €159,428 (+21,078%), from €756 to €160,185
- Gross operating margin -€61,065
down €61,065, from €53,166 to -€7,898
- Other operating charges -€6,615
down €6,615 (-11.3%), from €58,293 to €51,679
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 | €6,377,883 | €3,992,532 | -€2.4m | -37.4% |
| Fixed assets | 21/28 | €5,543,614 | €3,108,429 | -€2.4m | -43.9% |
| Tangible fixed assets | 22/27 | €3,268,614 | €3,108,429 | -€160,185 | -4.9% |
| Land and buildings | 22 | €3,268,429 | €3,108,429 | -€160,000 | -4.9% |
| Plant, machinery and equipment | 23 | €185 | €0 | -€185 | -100% |
| Financial fixed assets | 28 | €2,275,000 | €0 | -€2.3m | -100% |
| Current assets | 29/58 | €834,269 | €884,103 | +€49,834 | +6.0% |
| Stocks and contracts in progress | 3 | €720,329 | €734,553 | +€14,224 | +2.0% |
| Stocks | 30/36 | €720,329 | €734,553 | +€14,224 | +2.0% |
| Amounts receivable within one year | 40/41 | €113,347 | €137,132 | +€23,785 | +21.0% |
| Trade receivables | 40 | €75,847 | €99,632 | +€23,785 | +31.4% |
| Other amounts receivable | 41 | €37,500 | €37,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €593 | €12,417 | +€11,824 | +1,993% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €6,377,883 | €3,992,532 | -€2.4m | -37.4% |
| Equity | 10/15 | €1,721,133 | €1,390,643 | -€330,491 | -19.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €3,200,000 | €3,040,000 | -€160,000 | -5.0% |
| Reserves | 13 | €17,353 | €177,353 | +€160,000 | +922% |
| Non-distributable reserves | 130/1 | €17,353 | €17,353 | = | 0.0% |
| Legal reserve | 130 | €17,353 | €17,353 | = | 0.0% |
| Distributable reserves | 133 | - | €160,000 | +€160,000 | |
| Profit (loss) carried forward | 14 | -€1,558,220 | -€1,888,710 | -€330,491 | -21.2% |
| Amounts payable | 17/49 | €4,656,750 | €2,601,890 | -€2.1m | -44.1% |
| Amounts payable after more than one year | 17 | €1,160,267 | €8,217 | -€1.2m | -99.3% |
| Financial debts | 170/4 | €1,160,267 | €8,217 | -€1.2m | -99.3% |
| Amounts payable within one year | 42/48 | €3,496,483 | €2,593,673 | -€902,810 | -25.8% |
| Financial debts | 43 | €3,127,513 | €2,189,745 | -€937,768 | -30.0% |
| Credit institutions | 430/8 | €3,127,513 | €2,189,745 | -€937,768 | -30.0% |
| Trade debts | 44 | €367,683 | €399,372 | +€31,689 | +8.6% |
| Suppliers | 440/4 | €367,683 | €399,372 | +€31,689 | +8.6% |
| Taxes, remuneration and social security | 45 | €1,287 | €4,556 | +€3,269 | +254% |
| Taxes | 450/3 | €1,287 | €4,556 | +€3,269 | +254% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €756 | €160,185 | +€159,428 | +21,078% |
| Other operating charges | 640/8 | €58,293 | €51,679 | -€6,615 | -11.3% |
| Gross operating margin | 9900 | €53,166 | -€7,898 | -€61,065 | |
| Operating profit (loss) | 9901 | -€5,883 | -€219,762 | -€213,878 | -3,635% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,474,230 | €110,729 | -€2.4m | -95.5% |
| Recurring financial charges | 65 | €253,357 | €110,729 | -€142,628 | -56.3% |
| Non-recurring financial charges | 66B | €2,220,873 | €0 | -€2.2m | -100% |
| Profit (loss) for the period before taxes | 9903 | -€2,480,113 | -€330,491 | +€2.1m | +86.7% |
| Profit (loss) for the period | 9904 | -€2,480,113 | -€330,491 | +€2.1m | +86.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,480,113 | -€330,491 | +€2.1m | +86.7% |
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 14 October 2026 via checked.be.