PHILIVET: 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.
PHILIVET
Largest movements
- Receivables after one year -€106,368
down €106,368 (-95.5%), from €111,368 to €5,000
of which Trade receivables: -€106,368
- Cash +€69,308
up €69,308 (+351.8%), from €19,703 to €89,011
mainly Receivables after one year (+€106,368) and Contributions, distributions and other (+€95,175)
- Tangible fixed assets -€16,453
down €16,453 (-42.3%), from €38,890 to €22,437
of which Furniture and vehicles: -€14,992
- Receivables within one year -€9,102
down €9,102 (-25.5%), from €35,722 to €26,620
of which Other amounts receivable: -€4,871
- Stocks and contracts -€8,648
down €8,648 (-8.6%), from €100,354 to €91,706
- Other debts -€95,175
no longer reported in 2025 (was €95,175)
- Reserves +€65,175
up €65,175 (+118.0%), from €55,213 to €120,388
of which Distributable reserves: +€65,175
- Contributions +€30,000
up €30,000 (+33.3%), from €90,000 to €120,000
- Profit (loss) carried forward -€29,857
down €29,857 (-35.9%), from -€83,058 to -€112,914
- Current portion of long-term debt -€22,969
down €22,969 (-69.4%), from €33,102 to €10,133
- Gross operating margin -€47,318
down €47,318 (-34.9%), from €135,525 to €88,207
- Staff costs -€34,884
down €34,884 (-28.7%), from €121,591 to €86,708
- Depreciation -€22,695
down €22,695 (-58.0%), from €39,148 to €16,453
- Write-downs +€5,858
new in 2025: €5,858
- Other operating charges +€5,051
up €5,051 (+89.6%), from €5,635 to €10,686
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 | €315,092 | €241,358 | -€73,734 | -23.4% |
| Fixed assets | 21/28 | €39,005 | €22,552 | -€16,453 | -42.2% |
| Tangible fixed assets | 22/27 | €38,890 | €22,437 | -€16,453 | -42.3% |
| Furniture and vehicles | 24 | €34,164 | €19,172 | -€14,992 | -43.9% |
| Other tangible fixed assets | 26 | €4,726 | €3,265 | -€1,461 | -30.9% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €276,087 | €218,806 | -€57,281 | -20.7% |
| Amounts receivable after more than one year | 29 | €111,368 | €5,000 | -€106,368 | -95.5% |
| Trade receivables | 290 | €106,368 | - | -€106,368 | |
| Other amounts receivable | 291 | €5,000 | €5,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €100,354 | €91,706 | -€8,648 | -8.6% |
| Stocks | 30/36 | €100,354 | €91,706 | -€8,648 | -8.6% |
| Amounts receivable within one year | 40/41 | €35,722 | €26,620 | -€9,102 | -25.5% |
| Trade receivables | 40 | €30,684 | €26,454 | -€4,230 | -13.8% |
| Other amounts receivable | 41 | €5,038 | €166 | -€4,871 | -96.7% |
| Cash at bank and in hand | 54/58 | €19,703 | €89,011 | +€69,308 | +351.8% |
| Deferred charges and accrued income | 490/1 | €8,940 | €6,468 | -€2,472 | -27.6% |
| Total equity and liabilities | 10/49 | €315,092 | €241,358 | -€73,734 | -23.4% |
| Equity | 10/15 | €62,155 | €127,474 | +€65,318 | +105.1% |
| Contributions | 10/11 | €90,000 | €120,000 | +€30,000 | +33.3% |
| Reserves | 13 | €55,213 | €120,388 | +€65,175 | +118.0% |
| Non-distributable reserves | 130/1 | €613 | €613 | = | 0.0% |
| Reserves not available under the articles | 1311 | €613 | €613 | = | 0.0% |
| Distributable reserves | 133 | €54,600 | €119,775 | +€65,175 | +119.4% |
| Profit (loss) carried forward | 14 | -€83,058 | -€112,914 | -€29,857 | -35.9% |
| Amounts payable | 17/49 | €252,936 | €113,884 | -€139,052 | -55.0% |
| Amounts payable after more than one year | 17 | €6,422 | €15,746 | +€9,323 | +145.2% |
| Financial debts | 170/4 | €6,422 | €15,746 | +€9,323 | +145.2% |
| Amounts payable within one year | 42/48 | €239,238 | €92,139 | -€147,100 | -61.5% |
| Current portion of amounts payable after more than one year | 42 | €33,102 | €10,133 | -€22,969 | -69.4% |
| Trade debts | 44 | €80,187 | €57,279 | -€22,908 | -28.6% |
| Suppliers | 440/4 | €80,187 | €57,279 | -€22,908 | -28.6% |
| Taxes, remuneration and social security | 45 | €30,774 | €24,727 | -€6,047 | -19.7% |
| Taxes | 450/3 | €16,573 | €9,430 | -€7,143 | -43.1% |
| Remuneration and social security | 454/9 | €14,201 | €15,297 | +€1,096 | +7.7% |
| Other amounts payable | 47/48 | €95,175 | - | -€95,175 | |
| Accrued charges and deferred income | 492/3 | €7,276 | €6,000 | -€1,276 | -17.5% |
| Remuneration, social security and pensions | 62 | €121,591 | €86,708 | -€34,884 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,148 | €16,453 | -€22,695 | -58.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,858 | +€5,858 | |
| Other operating charges | 640/8 | €5,635 | €10,686 | +€5,051 | +89.6% |
| Gross operating margin | 9900 | €135,525 | €88,207 | -€47,318 | -34.9% |
| Operating profit (loss) | 9901 | -€30,850 | -€31,497 | -€647 | -2.1% |
| Financial income | 75/76B | €7,810 | €4,385 | -€3,425 | -43.9% |
| Recurring financial income | 75 | €7,810 | €4,385 | -€3,425 | -43.9% |
| Financial charges | 65/66B | €3,189 | €2,745 | -€444 | -13.9% |
| Recurring financial charges | 65 | €3,189 | €2,745 | -€444 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | -€26,229 | -€29,857 | -€3,628 | -13.8% |
| Profit (loss) for the period | 9904 | -€26,229 | -€29,857 | -€3,628 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,229 | -€29,857 | -€3,628 | -13.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.