PhilElia: 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.
PhilElia
Largest movements
- Tangible fixed assets -€56,884
down €56,884 (-7.4%), from €773,919 to €717,035
of which Land and buildings: -€47,707
- Receivables within one year +€21,028
up €21,028 (+424%), from €4,963 to €25,991
of which Trade receivables: +€18,174
- Cash +€16,083
up €16,083 (+58.7%), from €27,408 to €43,491
mainly Depreciation (+€59,444) and Tax, wage and social debts (+€2,811)
- Profit (loss) carried forward -€23,786
down €23,786 (-3,387%), from -€702 to -€24,488
- Depreciation -€3,353
down €3,353 (-5.3%), from €62,797 to €59,444
- Other operating charges -€842
down €842 (-9.1%), from €9,234 to €8,391
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 | €810,265 | €789,663 | -€20,602 | -2.5% |
| Fixed assets | 21/28 | €773,919 | €717,035 | -€56,884 | -7.4% |
| Tangible fixed assets | 22/27 | €773,919 | €717,035 | -€56,884 | -7.4% |
| Land and buildings | 22 | €702,869 | €655,163 | -€47,707 | -6.8% |
| Plant, machinery and equipment | 23 | €71,049 | €61,872 | -€9,177 | -12.9% |
| Furniture and vehicles | 24 | €0 | €0 | = | 0.0% |
| Current assets | 29/58 | €36,346 | €72,628 | +€36,282 | +99.8% |
| Stocks and contracts in progress | 3 | €1,043 | €1,075 | +€32 | +3.0% |
| Stocks | 30/36 | €1,043 | €1,075 | +€32 | +3.0% |
| Amounts receivable within one year | 40/41 | €4,963 | €25,991 | +€21,028 | +424% |
| Trade receivables | 40 | €4,817 | €22,991 | +€18,174 | +377% |
| Other amounts receivable | 41 | €146 | €3,000 | +€2,854 | +1,959% |
| Cash at bank and in hand | 54/58 | €27,408 | €43,491 | +€16,083 | +58.7% |
| Deferred charges and accrued income | 490/1 | €2,932 | €2,071 | -€861 | -29.4% |
| Total equity and liabilities | 10/49 | €810,265 | €789,663 | -€20,602 | -2.5% |
| Equity | 10/15 | €721,248 | €697,012 | -€24,236 | -3.4% |
| Contributions | 10/11 | €356,500 | €356,500 | = | 0.0% |
| Reserves | 13 | €363,650 | €363,650 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35,650 | €35,650 | = | 0.0% |
| Reserves not available under the articles | 1311 | €35,650 | €35,650 | = | 0.0% |
| Distributable reserves | 133 | €328,000 | €328,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€702 | -€24,488 | -€23,786 | -3,387% |
| Investment grants | 15 | €1,800 | €1,350 | -€450 | -25.0% |
| Amounts payable | 17/49 | €89,017 | €92,651 | +€3,634 | +4.1% |
| Amounts payable within one year | 42/48 | €89,017 | €92,651 | +€3,634 | +4.1% |
| Trade debts | 44 | €1,876 | €2,699 | +€823 | +43.8% |
| Suppliers | 440/4 | €1,876 | €2,699 | +€823 | +43.8% |
| Taxes, remuneration and social security | 45 | - | €2,811 | +€2,811 | |
| Taxes | 450/3 | - | €2,811 | +€2,811 | |
| Other amounts payable | 47/48 | €87,141 | €87,141 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,797 | €59,444 | -€3,353 | -5.3% |
| Other operating charges | 640/8 | €9,234 | €8,391 | -€842 | -9.1% |
| Gross operating margin | 9900 | €43,837 | €43,692 | -€145 | -0.3% |
| Operating profit (loss) | 9901 | -€28,194 | -€24,144 | +€4,050 | +14.4% |
| Financial income | 75/76B | €450 | €450 | = | 0.0% |
| Recurring financial income | 75 | €450 | €450 | = | 0.0% |
| Financial charges | 65/66B | €38 | €92 | +€54 | +140% |
| Recurring financial charges | 65 | €38 | €92 | +€54 | +140% |
| Profit (loss) for the period before taxes | 9903 | -€27,782 | -€23,786 | +€3,996 | +14.4% |
| Profit (loss) for the period | 9904 | -€27,782 | -€23,786 | +€3,996 | +14.4% |
| Transfer from tax-exempt reserves | 789 | €25,000 | - | -€25,000 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,782 | -€23,786 | -€21,004 | -755% |
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 18 October 2026 via checked.be.