PHILIPPINE: 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.
PHILIPPINE
Largest movements
- Tangible fixed assets +€222,066
up €222,066 (+51.8%), from €428,930 to €650,997
of which Land and buildings: +€165,362
- Cash +€12,546
up €12,546 (+9855.2%), from €127 to €12,673
mainly Debts after one year (+€179,432) and Depreciation (+€46,201)
- Debts after one year +€179,432
up €179,432 (+56.0%), from €320,248 to €499,680
of which Financial debts: +€171,932
- Other debts +€21,239
new in 2025: €21,239
- Current portion of long-term debt +€14,230
up €14,230 (+46.6%), from €30,546 to €44,777
- Reserves +€12,000
up €12,000 (+17.9%), from €66,860 to €78,860
of which Distributable reserves: +€12,000
- Trade debts -€10,665
down €10,665 (-27.8%), from €38,316 to €27,651
- Staff costs -€77,806
down €77,806 (-42.8%), from €181,999 to €104,193
- Gross operating margin -€62,030
down €62,030 (-25.2%), from €246,605 to €184,576
- Depreciation +€14,505
up €14,505 (+45.8%), from €31,696 to €46,201
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 | €509,026 | €732,415 | +€223,390 | +43.9% |
| Formation expenses | 20 | €47,865 | €46,088 | -€1,777 | -3.7% |
| Fixed assets | 21/28 | €435,565 | €654,632 | +€219,066 | +50.3% |
| Intangible fixed assets | 21 | €6,500 | €3,500 | -€3,000 | -46.2% |
| Tangible fixed assets | 22/27 | €428,930 | €650,997 | +€222,066 | +51.8% |
| Land and buildings | 22 | €387,123 | €552,485 | +€165,362 | +42.7% |
| Plant, machinery and equipment | 23 | €14,329 | €48,497 | +€34,167 | +238.4% |
| Furniture and vehicles | 24 | €27,478 | €50,016 | +€22,538 | +82.0% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €25,596 | €31,696 | +€6,100 | +23.8% |
| Stocks and contracts in progress | 3 | €9,979 | €10,380 | +€401 | +4.0% |
| Stocks | 30/36 | €9,979 | €10,380 | +€401 | +4.0% |
| Amounts receivable within one year | 40/41 | €14,413 | €8,643 | -€5,770 | -40.0% |
| Trade receivables | 40 | €81 | - | -€81 | |
| Other amounts receivable | 41 | €14,332 | €8,643 | -€5,689 | -39.7% |
| Cash at bank and in hand | 54/58 | €127 | €12,673 | +€12,546 | +9855.2% |
| Deferred charges and accrued income | 490/1 | €1,077 | - | -€1,077 | |
| Total equity and liabilities | 10/49 | €509,026 | €732,415 | +€223,390 | +43.9% |
| Equity | 10/15 | €76,114 | €88,736 | +€12,622 | +16.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €66,860 | €78,860 | +€12,000 | +17.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €65,000 | €77,000 | +€12,000 | +18.5% |
| Profit (loss) carried forward | 14 | €3,054 | €3,676 | +€622 | +20.4% |
| Amounts payable | 17/49 | €432,911 | €643,679 | +€210,768 | +48.7% |
| Amounts payable after more than one year | 17 | €320,248 | €499,680 | +€179,432 | +56.0% |
| Financial debts | 170/4 | €320,248 | €492,180 | +€171,932 | +53.7% |
| Trade debts | 175 | - | €7,500 | +€7,500 | |
| Amounts payable within one year | 42/48 | €112,663 | €143,999 | +€31,335 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €30,546 | €44,777 | +€14,230 | +46.6% |
| Financial debts | 43 | €7,399 | €14,323 | +€6,924 | +93.6% |
| Credit institutions | 430/8 | €7,399 | €14,323 | +€6,924 | +93.6% |
| Trade debts | 44 | €38,316 | €27,651 | -€10,665 | -27.8% |
| Suppliers | 440/4 | €38,316 | €27,651 | -€10,665 | -27.8% |
| Advances received on contracts in progress | 46 | €1,179 | - | -€1,179 | |
| Taxes, remuneration and social security | 45 | €35,223 | €36,009 | +€786 | +2.2% |
| Taxes | 450/3 | €22,988 | €26,223 | +€3,235 | +14.1% |
| Remuneration and social security | 454/9 | €12,235 | €9,786 | -€2,449 | -20.0% |
| Other amounts payable | 47/48 | - | €21,239 | +€21,239 | |
| Non-recurring operating income | 76A | - | €3,950 | +€3,950 | |
| Remuneration, social security and pensions | 62 | €181,999 | €104,193 | -€77,806 | -42.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,696 | €46,201 | +€14,505 | +45.8% |
| Other operating charges | 640/8 | €4,995 | €4,854 | -€141 | -2.8% |
| Non-recurring operating charges | 66A | €3,042 | - | -€3,042 | |
| Gross operating margin | 9900 | €246,605 | €184,576 | -€62,030 | -25.2% |
| Operating profit (loss) | 9901 | €24,873 | €29,328 | +€4,454 | +17.9% |
| Financial income | 75/76B | €1,287 | €60 | -€1,228 | -95.4% |
| Recurring financial income | 75 | €1,287 | €60 | -€1,228 | -95.4% |
| Financial charges | 65/66B | €13,955 | €15,149 | +€1,194 | +8.6% |
| Recurring financial charges | 65 | €13,955 | €15,149 | +€1,194 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €12,206 | €14,238 | +€2,032 | +16.7% |
| Income taxes | 67/77 | €1,791 | €1,616 | -€175 | -9.8% |
| Profit (loss) for the period | 9904 | €10,415 | €12,622 | +€2,208 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,415 | €12,622 | +€2,208 | +21.2% |
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.