PHILIGUIL: 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.
PHILIGUIL
Largest movements
- Receivables within one year -€27,782
down €27,782 (-53.0%), from €52,459 to €24,677
of which Trade receivables: -€36,640
- Cash -€23,183
down €23,183 (-62.3%), from €37,240 to €14,057
mainly Investment in fixed assets (net) (-€67,969) and Trade debts (-€33,903)
- Tangible fixed assets +€19,346
up €19,346 (+16.5%), from €117,196 to €136,542
of which Plant, machinery and equipment: +€25,085
- Current investments +€4,537
up €4,537 (+16.6%), from €27,285 to €31,823
- Trade debts -€33,903
down €33,903 (-98.2%), from €34,536 to €632
- Other debts +€26,026
up €26,026 (+106%), from €24,550 to €50,576
- Profit (loss) carried forward -€19,712
no longer reported in 2025 (was €19,712)
- Tax, wage and social debts -€14,792
down €14,792 (-86.5%), from €17,096 to €2,304
- Debts after one year +€9,715
up €9,715 (+202%), from €4,800 to €14,515
- Depreciation +€20,212
up €20,212 (+71.1%), from €28,411 to €48,623
- Gross operating margin -€18,061
down €18,061 (-22.8%), from €79,315 to €61,253
- Financial income -€4,108
down €4,108 (-71.4%), from €5,751 to €1,643
- Taxes -€3,470
down €3,470 (-36.0%), from €9,636 to €6,166
- Financial charges +€1,422
up €1,422 (+143%), from €993 to €2,415
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 | €235,817 | €209,101 | -€26,716 | -11.3% |
| Fixed assets | 21/28 | €118,398 | €137,744 | +€19,346 | +16.3% |
| Tangible fixed assets | 22/27 | €117,196 | €136,542 | +€19,346 | +16.5% |
| Plant, machinery and equipment | 23 | €93,810 | €118,895 | +€25,085 | +26.7% |
| Furniture and vehicles | 24 | €11,342 | €7,098 | -€4,243 | -37.4% |
| Other tangible fixed assets | 26 | €12,044 | €10,549 | -€1,495 | -12.4% |
| Financial fixed assets | 28 | €1,202 | €1,202 | = | 0.0% |
| Current assets | 29/58 | €117,419 | €71,357 | -€46,062 | -39.2% |
| Amounts receivable within one year | 40/41 | €52,459 | €24,677 | -€27,782 | -53.0% |
| Trade receivables | 40 | €49,095 | €12,454 | -€36,640 | -74.6% |
| Other amounts receivable | 41 | €3,364 | €12,223 | +€8,859 | +263% |
| Current investments | 50/53 | €27,285 | €31,823 | +€4,537 | +16.6% |
| Cash at bank and in hand | 54/58 | €37,240 | €14,057 | -€23,183 | -62.3% |
| Deferred charges and accrued income | 490/1 | €434 | €799 | +€365 | +84.1% |
| Total equity and liabilities | 10/49 | €235,817 | €209,101 | -€26,716 | -11.3% |
| Equity | 10/15 | €146,033 | €126,322 | -€19,712 | -13.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €107,722 | €107,722 | = | 0.0% |
| Distributable reserves | 133 | €107,722 | €107,722 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,712 | - | -€19,712 | |
| Amounts payable | 17/49 | €89,783 | €82,779 | -€7,004 | -7.8% |
| Amounts payable after more than one year | 17 | €4,800 | €14,515 | +€9,715 | +202% |
| Financial debts | 170/4 | €4,800 | €14,515 | +€9,715 | +202% |
| Amounts payable within one year | 42/48 | €84,433 | €68,264 | -€16,169 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €8,063 | €14,584 | +€6,521 | +80.9% |
| Financial debts | 43 | €189 | €168 | -€21 | -11.0% |
| Credit institutions | 430/8 | €189 | €168 | -€21 | -11.0% |
| Trade debts | 44 | €34,536 | €632 | -€33,903 | -98.2% |
| Suppliers | 440/4 | €34,536 | €632 | -€33,903 | -98.2% |
| Taxes, remuneration and social security | 45 | €17,096 | €2,304 | -€14,792 | -86.5% |
| Taxes | 450/3 | €17,096 | €2,304 | -€14,792 | -86.5% |
| Other amounts payable | 47/48 | €24,550 | €50,576 | +€26,026 | +106% |
| Accrued charges and deferred income | 492/3 | €551 | - | -€551 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,411 | €48,623 | +€20,212 | +71.1% |
| Other operating charges | 640/8 | €679 | €643 | -€36 | -5.3% |
| Gross operating margin | 9900 | €79,315 | €61,253 | -€18,061 | -22.8% |
| Operating profit (loss) | 9901 | €50,225 | €11,988 | -€38,237 | -76.1% |
| Financial income | 75/76B | €5,751 | €1,643 | -€4,108 | -71.4% |
| Recurring financial income | 75 | €5,751 | €1,643 | -€4,108 | -71.4% |
| Financial charges | 65/66B | €993 | €2,415 | +€1,422 | +143% |
| Recurring financial charges | 65 | €993 | €2,415 | +€1,422 | +143% |
| Profit (loss) for the period before taxes | 9903 | €54,982 | €11,215 | -€43,767 | -79.6% |
| Income taxes | 67/77 | €9,636 | €6,166 | -€3,470 | -36.0% |
| Profit (loss) for the period | 9904 | €45,346 | €5,050 | -€40,297 | -88.9% |
| Profit (loss) for the period to be appropriated | 9905 | €45,346 | €5,050 | -€40,297 | -88.9% |
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 22 October 2026 via checked.be.