Philine: 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.
Philine
Largest movements
- Tangible fixed assets +€97,409
up €97,409 (+423.7%), from €22,989 to €120,398
of which Plant, machinery and equipment: +€75,966
- Cash -€47,511
down €47,511 (-69.8%), from €68,071 to €20,561
mainly Investment in fixed assets (net) (-€111,324) and Deferred charges and accrued income (-€17,629)
- Deferred charges and accrued income +€17,629
up €17,629 (+346.6%), from €5,086 to €22,715
- Receivables within one year +€13,075
up €13,075 (+93.7%), from €13,956 to €27,031
of which Other amounts receivable: +€9,493
- Intangible fixed assets -€6,000
down €6,000 (-12.5%), from €48,039 to €42,039
- Other debts +€30,403
up €30,403 (+1581.7%), from €1,922 to €32,325
- Debts after one year +€29,311
up €29,311 (+102.1%), from €28,707 to €58,018
- Current portion of long-term debt +€11,428
up €11,428 (+96.5%), from €11,838 to €23,266
- Tax, wage and social debts -€5,878
down €5,878 (-34.4%), from €17,082 to €11,205
of which Taxes: -€6,788
- Trade debts +€4,863
up €4,863 (+159.0%), from €3,059 to €7,922
- Depreciation +€10,702
up €10,702 (+116.2%), from €9,213 to €19,915
- Taxes -€5,503
down €5,503 (-59.7%), from €9,220 to €3,717
- Gross operating margin -€3,138
down €3,138 (-4.9%), from €64,388 to €61,251
- Financial charges +€2,882
up €2,882 (+40.6%), from €7,104 to €9,985
- Other operating charges -€2,100
down €2,100 (-62.8%), from €3,346 to €1,246
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 | €158,142 | €232,744 | +€74,602 | +47.2% |
| Fixed assets | 21/28 | €71,029 | €162,438 | +€91,409 | +128.7% |
| Intangible fixed assets | 21 | €48,039 | €42,039 | -€6,000 | -12.5% |
| Tangible fixed assets | 22/27 | €22,989 | €120,398 | +€97,409 | +423.7% |
| Plant, machinery and equipment | 23 | €9,543 | €85,509 | +€75,966 | +796.0% |
| Furniture and vehicles | 24 | - | €2,343 | +€2,343 | |
| Other tangible fixed assets | 26 | €13,446 | €32,547 | +€19,101 | +142.1% |
| Current assets | 29/58 | €87,113 | €70,307 | -€16,807 | -19.3% |
| Amounts receivable within one year | 40/41 | €13,956 | €27,031 | +€13,075 | +93.7% |
| Trade receivables | 40 | €13,956 | €17,537 | +€3,582 | +25.7% |
| Other amounts receivable | 41 | - | €9,493 | +€9,493 | |
| Cash at bank and in hand | 54/58 | €68,071 | €20,561 | -€47,511 | -69.8% |
| Deferred charges and accrued income | 490/1 | €5,086 | €22,715 | +€17,629 | +346.6% |
| Total equity and liabilities | 10/49 | €158,142 | €232,744 | +€74,602 | +47.2% |
| Equity | 10/15 | €94,800 | €97,973 | +€3,172 | +3.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €89,800 | €92,973 | +€3,172 | +3.5% |
| Distributable reserves | 133 | €89,800 | €92,973 | +€3,172 | +3.5% |
| Amounts payable | 17/49 | €63,342 | €134,771 | +€71,430 | +112.8% |
| Amounts payable after more than one year | 17 | €28,707 | €58,018 | +€29,311 | +102.1% |
| Financial debts | 170/4 | €28,707 | €58,018 | +€29,311 | +102.1% |
| Amounts payable within one year | 42/48 | €33,902 | €76,754 | +€42,852 | +126.4% |
| Current portion of amounts payable after more than one year | 42 | €11,838 | €23,266 | +€11,428 | +96.5% |
| Financial debts | 43 | - | €2,036 | +€2,036 | |
| Credit institutions | 430/8 | - | €2,036 | +€2,036 | |
| Trade debts | 44 | €3,059 | €7,922 | +€4,863 | +159.0% |
| Suppliers | 440/4 | €3,059 | €7,922 | +€4,863 | +159.0% |
| Taxes, remuneration and social security | 45 | €17,082 | €11,205 | -€5,878 | -34.4% |
| Taxes | 450/3 | €14,730 | €7,943 | -€6,788 | -46.1% |
| Remuneration and social security | 454/9 | €2,352 | €3,262 | +€910 | +38.7% |
| Other amounts payable | 47/48 | €1,922 | €32,325 | +€30,403 | +1581.7% |
| Accrued charges and deferred income | 492/3 | €733 | - | -€733 | |
| Remuneration, social security and pensions | 62 | €7,414 | €5,474 | -€1,940 | -26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,213 | €19,915 | +€10,702 | +116.2% |
| Other operating charges | 640/8 | €3,346 | €1,246 | -€2,100 | -62.8% |
| Non-recurring operating charges | 66A | - | €17,741 | +€17,741 | |
| Gross operating margin | 9900 | €64,388 | €61,251 | -€3,138 | -4.9% |
| Operating profit (loss) | 9901 | €44,415 | €16,874 | -€27,541 | -62.0% |
| Financial charges | 65/66B | €7,104 | €9,985 | +€2,882 | +40.6% |
| Recurring financial charges | 65 | €7,104 | €9,985 | +€2,882 | +40.6% |
| Profit (loss) for the period before taxes | 9903 | €37,312 | €6,889 | -€30,422 | -81.5% |
| Income taxes | 67/77 | €9,220 | €3,717 | -€5,503 | -59.7% |
| Profit (loss) for the period | 9904 | €28,092 | €3,172 | -€24,919 | -88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,092 | €3,172 | -€24,919 | -88.7% |
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 3 October 2026 via checked.be.