PHILCOBY: 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.
PHILCOBY
Largest movements
- Cash -€12,525
down €12,525 (-52.6%), from €23,831 to €11,306
mainly Trade debts (-€16,633) and Investment in fixed assets (net) (-€8,687)
- Receivables within one year +€5,323
up €5,323 (+8.0%), from €66,904 to €72,227
of which Other amounts receivable: +€20,349
- Tangible fixed assets +€3,009
up €3,009 (+11.1%), from €27,098 to €30,107
of which Furniture and vehicles: +€10,345
- Reserves +€36,051
up €36,051 (+57.4%), from €62,809 to €98,861
of which Distributable reserves: +€36,051
- Trade debts -€16,633
down €16,633 (-76.0%), from €21,879 to €5,246
- Profit (loss) carried forward -€15,070
down €15,070 (-99.7%), from €15,113 to €43
- Short-term financial debts -€5,000
no longer reported in 2025 (was €5,000)
- Tax, wage and social debts -€3,959
down €3,959 (-35.4%), from €11,181 to €7,222
of which Remuneration and social security: -€6,012
- Gross operating margin +€9,321
up €9,321 (+28.0%), from €33,241 to €42,561
- Taxes +€1,181
up €1,181 (+10.7%), from €11,023 to €12,204
- Staff costs -€1,157
down €1,157 (-77.6%), from €1,491 to €334
- Depreciation +€1,008
up €1,008 (+21.6%), from €4,670 to €5,677
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 | €122,182 | €117,571 | -€4,611 | -3.8% |
| Fixed assets | 21/28 | €27,119 | €30,128 | +€3,009 | +11.1% |
| Tangible fixed assets | 22/27 | €27,098 | €30,107 | +€3,009 | +11.1% |
| Land and buildings | 22 | €5,855 | €4,934 | -€921 | -15.7% |
| Plant, machinery and equipment | 23 | €20,522 | €14,107 | -€6,415 | -31.3% |
| Furniture and vehicles | 24 | €721 | €11,066 | +€10,345 | +1434.8% |
| Financial fixed assets | 28 | €21 | €21 | = | 0.0% |
| Current assets | 29/58 | €95,063 | €87,443 | -€7,620 | -8.0% |
| Amounts receivable within one year | 40/41 | €66,904 | €72,227 | +€5,323 | +8.0% |
| Trade receivables | 40 | €59,744 | €44,717 | -€15,026 | -25.2% |
| Other amounts receivable | 41 | €7,160 | €27,510 | +€20,349 | +284.2% |
| Cash at bank and in hand | 54/58 | €23,831 | €11,306 | -€12,525 | -52.6% |
| Deferred charges and accrued income | 490/1 | €4,328 | €3,910 | -€418 | -9.6% |
| Total equity and liabilities | 10/49 | €122,182 | €117,571 | -€4,611 | -3.8% |
| Equity | 10/15 | €84,122 | €105,103 | +€20,981 | +24.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €62,809 | €98,861 | +€36,051 | +57.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €60,949 | €97,001 | +€36,051 | +59.1% |
| Profit (loss) carried forward | 14 | €15,113 | €43 | -€15,070 | -99.7% |
| Amounts payable | 17/49 | €38,060 | €12,468 | -€25,591 | -67.2% |
| Amounts payable within one year | 42/48 | €38,060 | €12,468 | -€25,591 | -67.2% |
| Financial debts | 43 | €5,000 | - | -€5,000 | |
| Credit institutions | 430/8 | €5,000 | - | -€5,000 | |
| Trade debts | 44 | €21,879 | €5,246 | -€16,633 | -76.0% |
| Suppliers | 440/4 | €21,879 | €5,246 | -€16,633 | -76.0% |
| Taxes, remuneration and social security | 45 | €11,181 | €7,222 | -€3,959 | -35.4% |
| Taxes | 450/3 | €5,169 | €7,222 | +€2,053 | +39.7% |
| Remuneration and social security | 454/9 | €6,012 | - | -€6,012 | |
| Remuneration, social security and pensions | 62 | €1,491 | €334 | -€1,157 | -77.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,670 | €5,677 | +€1,008 | +21.6% |
| Other operating charges | 640/8 | €926 | €1,049 | +€123 | +13.3% |
| Gross operating margin | 9900 | €33,241 | €42,561 | +€9,321 | +28.0% |
| Operating profit (loss) | 9901 | €26,155 | €35,501 | +€9,347 | +35.7% |
| Financial income | 75/76B | - | €226 | +€226 | |
| Recurring financial income | 75 | - | €226 | +€226 | |
| Financial charges | 65/66B | €61 | €362 | +€301 | +493.2% |
| Recurring financial charges | 65 | €61 | €362 | +€301 | +493.2% |
| Profit (loss) for the period before taxes | 9903 | €26,094 | €35,366 | +€9,272 | +35.5% |
| Income taxes | 67/77 | €11,023 | €12,204 | +€1,181 | +10.7% |
| Profit (loss) for the period | 9904 | €15,070 | €23,162 | +€8,092 | +53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,070 | €23,162 | +€8,092 | +53.7% |
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 11 October 2026 via checked.be.