PHILGAN: 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.
PHILGAN
Largest movements
- Tangible fixed assets -€4,495
down €4,495 (-3.0%), from €148,534 to €144,039
of which Land and buildings: -€9,178
- Other debts -€1,957
down €1,957 (-4.6%), from €42,555 to €40,598
- Depreciation -€2,811
down €2,811 (-22.5%), from €12,509 to €9,699
- Gross operating margin +€709
up €709 (+6.4%), from €11,116 to €11,825
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 | €156,238 | €151,978 | -€4,260 | -2.7% |
| Fixed assets | 21/28 | €148,657 | €144,163 | -€4,495 | -3.0% |
| Tangible fixed assets | 22/27 | €148,534 | €144,039 | -€4,495 | -3.0% |
| Land and buildings | 22 | €140,334 | €131,156 | -€9,178 | -6.5% |
| Plant, machinery and equipment | 23 | €8,199 | €12,883 | +€4,684 | +57.1% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €7,581 | €7,815 | +€234 | +3.1% |
| Cash at bank and in hand | 54/58 | €7,581 | €7,815 | +€234 | +3.1% |
| Total equity and liabilities | 10/49 | €156,238 | €151,978 | -€4,260 | -2.7% |
| Equity | 10/15 | €112,547 | €111,019 | -€1,527 | -1.4% |
| Contributions | 10/11 | €335,896 | €335,896 | = | 0.0% |
| Capital | 10 | €335,896 | €335,896 | = | 0.0% |
| Issued capital | 100 | €335,896 | €335,896 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€223,349 | -€224,876 | -€1,527 | -0.7% |
| Amounts payable | 17/49 | €43,692 | €40,959 | -€2,733 | -6.3% |
| Amounts payable within one year | 42/48 | €43,692 | €40,959 | -€2,733 | -6.3% |
| Trade debts | 44 | €1,137 | €361 | -€777 | -68.3% |
| Suppliers | 440/4 | €1,137 | €361 | -€777 | -68.3% |
| Other amounts payable | 47/48 | €42,555 | €40,598 | -€1,957 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,509 | €9,699 | -€2,811 | -22.5% |
| Other operating charges | 640/8 | €3,439 | €3,546 | +€107 | +3.1% |
| Gross operating margin | 9900 | €11,116 | €11,825 | +€709 | +6.4% |
| Operating profit (loss) | 9901 | -€4,832 | -€1,419 | +€3,413 | +70.6% |
| Financial income | 75/76B | - | €14 | +€14 | |
| Recurring financial income | 75 | - | €14 | +€14 | |
| Financial charges | 65/66B | €67 | €122 | +€54 | +80.8% |
| Recurring financial charges | 65 | €67 | €122 | +€54 | +80.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,900 | -€1,527 | +€3,372 | +68.8% |
| Profit (loss) for the period | 9904 | -€4,900 | -€1,527 | +€3,372 | +68.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,900 | -€1,527 | +€3,372 | +68.8% |
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 7 October 2026 via checked.be.