PHILFA: 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.
PHILFA
Largest movements
- Receivables within one year -€7,811
down €7,811 (-91.9%), from €8,497 to €686
of which Trade receivables: -€4,096
- Cash -€7,779
down €7,779 (-35.2%), from €22,082 to €14,302
mainly Trade debts (-€34,284) and Accrued charges and deferred income (-€10,455)
- Stocks and contracts +€1,620
up €1,620 (+9.8%), from €16,580 to €18,200
- Tangible fixed assets -€1,500
down €1,500 (-3.7%), from €40,099 to €38,599
of which Other tangible fixed assets: -€6,076
- Tax, wage and social debts +€42,210
up €42,210 (+53.5%), from €78,952 to €121,161
of which Taxes: +€22,960
- Trade debts -€34,284
down €34,284 (-39.9%), from €85,822 to €51,538
- Accrued charges and deferred income -€10,455
no longer reported in 2024 (was €10,455)
- Other debts -€6,151
down €6,151 (-28.9%), from €21,283 to €15,132
- Profit (loss) carried forward -€3,536
down €3,536 (-3.0%), from -€118,901 to -€122,437
- Gross operating margin +€52,979
up €52,979 (+27.6%), from €191,694 to €244,673
- Staff costs +€21,712
up €21,712 (+11.0%), from €197,852 to €219,564
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €87,940 | €72,940 | -€15,000 | -17.1% |
| Fixed assets | 21/28 | €40,438 | €38,938 | -€1,500 | -3.7% |
| Tangible fixed assets | 22/27 | €40,099 | €38,599 | -€1,500 | -3.7% |
| Plant, machinery and equipment | 23 | €7,042 | €4,160 | -€2,882 | -40.9% |
| Furniture and vehicles | 24 | €1,548 | €9,006 | +€7,458 | +481.8% |
| Other tangible fixed assets | 26 | €31,509 | €25,433 | -€6,076 | -19.3% |
| Financial fixed assets | 28 | €339 | €339 | = | 0.0% |
| Current assets | 29/58 | €47,502 | €34,002 | -€13,500 | -28.4% |
| Stocks and contracts in progress | 3 | €16,580 | €18,200 | +€1,620 | +9.8% |
| Stocks | 30/36 | €16,580 | €18,200 | +€1,620 | +9.8% |
| Amounts receivable within one year | 40/41 | €8,497 | €686 | -€7,811 | -91.9% |
| Trade receivables | 40 | €4,189 | €93 | -€4,096 | -97.8% |
| Other amounts receivable | 41 | €4,308 | €593 | -€3,715 | -86.2% |
| Cash at bank and in hand | 54/58 | €22,082 | €14,302 | -€7,779 | -35.2% |
| Deferred charges and accrued income | 490/1 | €344 | €814 | +€470 | +136.7% |
| Total equity and liabilities | 10/49 | €87,940 | €72,940 | -€15,000 | -17.1% |
| Equity | 10/15 | -€112,701 | -€116,237 | -€3,536 | -3.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€118,901 | -€122,437 | -€3,536 | -3.0% |
| Amounts payable | 17/49 | €200,642 | €189,177 | -€11,464 | -5.7% |
| Amounts payable after more than one year | 17 | €1,407 | - | -€1,407 | |
| Financial debts | 170/4 | €1,407 | - | -€1,407 | |
| Amounts payable within one year | 42/48 | €188,780 | €189,177 | +€397 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €2,723 | €1,346 | -€1,377 | -50.6% |
| Trade debts | 44 | €85,822 | €51,538 | -€34,284 | -39.9% |
| Suppliers | 440/4 | €85,822 | €51,538 | -€34,284 | -39.9% |
| Taxes, remuneration and social security | 45 | €78,952 | €121,161 | +€42,210 | +53.5% |
| Taxes | 450/3 | €50,180 | €73,140 | +€22,960 | +45.8% |
| Remuneration and social security | 454/9 | €28,771 | €48,021 | +€19,250 | +66.9% |
| Other amounts payable | 47/48 | €21,283 | €15,132 | -€6,151 | -28.9% |
| Accrued charges and deferred income | 492/3 | €10,455 | - | -€10,455 | |
| Remuneration, social security and pensions | 62 | €197,852 | €219,564 | +€21,712 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,585 | €11,773 | +€188 | +1.6% |
| Other operating charges | 640/8 | €7,212 | €5,755 | -€1,458 | -20.2% |
| Gross operating margin | 9900 | €191,694 | €244,673 | +€52,979 | +27.6% |
| Operating profit (loss) | 9901 | -€24,955 | €7,582 | +€32,537 | |
| Financial income | 75/76B | €209 | €4 | -€205 | -98.3% |
| Recurring financial income | 75 | €209 | €4 | -€205 | -98.3% |
| Financial charges | 65/66B | €9,384 | €10,746 | +€1,362 | +14.5% |
| Recurring financial charges | 65 | €9,384 | €10,746 | +€1,362 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | -€34,131 | -€3,160 | +€30,970 | +90.7% |
| Income taxes | 67/77 | €509 | €375 | -€134 | -26.3% |
| Profit (loss) for the period | 9904 | -€34,640 | -€3,536 | +€31,104 | +89.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,640 | -€3,536 | +€31,104 | +89.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.