PHILECO: 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.
PHILECO
Largest movements
- Receivables within one year +€96,022
up €96,022 (+744.5%), from €12,898 to €108,920
of which Trade receivables: +€96,977
- Cash -€44,774
down €44,774 (-58.7%), from €76,264 to €31,490
mainly Receivables within one year (-€96,022) and Investment in fixed assets (net) (-€58,878)
- Tangible fixed assets +€12,245
up €12,245 (+4.2%), from €289,118 to €301,362
of which Other tangible fixed assets: +€25,751
- Reserves +€39,000
up €39,000 (+10.8%), from €360,400 to €399,400
- Debts after one year +€19,625
new in 2025: €19,625
- Current portion of long-term debt +€4,796
up €4,796 (+882.2%), from €544 to €5,340
- Depreciation +€5,249
up €5,249 (+12.7%), from €41,384 to €46,633
- Taxes -€4,064
down €4,064 (-22.2%), from €18,326 to €14,262
- Gross operating margin +€1,882
up €1,882 (+1.6%), from €117,448 to €119,330
- Other operating charges -€1,814
down €1,814 (-9.3%), from €19,572 to €17,758
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 | €379,183 | €442,336 | +€63,153 | +16.7% |
| Fixed assets | 21/28 | €289,118 | €301,362 | +€12,245 | +4.2% |
| Tangible fixed assets | 22/27 | €289,118 | €301,362 | +€12,245 | +4.2% |
| Land and buildings | 22 | €219,197 | €195,197 | -€24,000 | -10.9% |
| Plant, machinery and equipment | 23 | €491 | €26,147 | +€25,656 | +5226.3% |
| Furniture and vehicles | 24 | €64,292 | €49,131 | -€15,162 | -23.6% |
| Other tangible fixed assets | 26 | €5,138 | €30,888 | +€25,751 | +501.2% |
| Current assets | 29/58 | €90,066 | €140,974 | +€50,908 | +56.5% |
| Amounts receivable within one year | 40/41 | €12,898 | €108,920 | +€96,022 | +744.5% |
| Trade receivables | 40 | €11,943 | €108,920 | +€96,977 | +812.0% |
| Other amounts receivable | 41 | €955 | - | -€955 | |
| Cash at bank and in hand | 54/58 | €76,264 | €31,490 | -€44,774 | -58.7% |
| Deferred charges and accrued income | 490/1 | €903 | €564 | -€339 | -37.6% |
| Total equity and liabilities | 10/49 | €379,183 | €442,336 | +€63,153 | +16.7% |
| Equity | 10/15 | €361,736 | €401,459 | +€39,724 | +11.0% |
| Contributions | 10/11 | €1,100 | €1,100 | = | 0.0% |
| Reserves | 13 | €360,400 | €399,400 | +€39,000 | +10.8% |
| Distributable reserves | 133 | €360,400 | €399,400 | +€39,000 | +10.8% |
| Profit (loss) carried forward | 14 | €236 | €959 | +€724 | +307.1% |
| Amounts payable | 17/49 | €17,448 | €40,877 | +€23,429 | +134.3% |
| Amounts payable after more than one year | 17 | - | €19,625 | +€19,625 | |
| Financial debts | 170/4 | - | €19,625 | +€19,625 | |
| Amounts payable within one year | 42/48 | €17,448 | €21,252 | +€3,804 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | €544 | €5,340 | +€4,796 | +882.2% |
| Trade debts | 44 | €387 | €400 | +€12 | +3.2% |
| Suppliers | 440/4 | €387 | €400 | +€12 | +3.2% |
| Taxes, remuneration and social security | 45 | €16,517 | €14,998 | -€1,519 | -9.2% |
| Taxes | 450/3 | €16,517 | €14,998 | -€1,519 | -9.2% |
| Other amounts payable | 47/48 | - | €514 | +€514 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,384 | €46,633 | +€5,249 | +12.7% |
| Other operating charges | 640/8 | €19,572 | €17,758 | -€1,814 | -9.3% |
| Gross operating margin | 9900 | €117,448 | €119,330 | +€1,882 | +1.6% |
| Operating profit (loss) | 9901 | €56,492 | €54,939 | -€1,553 | -2.7% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €290 | €953 | +€663 | +228.7% |
| Recurring financial charges | 65 | €290 | €953 | +€663 | +228.7% |
| Profit (loss) for the period before taxes | 9903 | €56,207 | €53,986 | -€2,221 | -4.0% |
| Income taxes | 67/77 | €18,326 | €14,262 | -€4,064 | -22.2% |
| Profit (loss) for the period | 9904 | €37,880 | €39,724 | +€1,843 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,880 | €39,724 | +€1,843 | +4.9% |
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 4 October 2026 via checked.be.