PHILLE: 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.
PHILLE
Largest movements
- Stocks and contracts -€35,747
down €35,747 (-21.7%), from €164,849 to €129,102
- Tangible fixed assets -€24,818
down €24,818 (-9.7%), from €256,453 to €231,636
of which Plant, machinery and equipment: -€18,496
- Receivables within one year -€23,681
down €23,681 (-22.2%), from €106,695 to €83,014
of which Trade receivables: -€25,612
- Cash +€13,642
up €13,642 (+76.9%), from €17,752 to €31,394
mainly Depreciation (+€41,934) and Stocks and contracts (+€35,747)
- Debts after one year -€34,562
down €34,562 (-17.4%), from €198,510 to €163,948
- Trade debts -€17,792
down €17,792 (-47.7%), from €37,266 to €19,475
- Profit (loss) carried forward -€14,477
down €14,477 (-7.7%), from €187,150 to €172,673
- Purchases and services +€84,461
up €84,461 (+32.6%), from €259,012 to €343,474
- Gross operating margin -€37,347
down €37,347 (-52.9%), from €70,662 to €33,315
- Turnover +€18,139
up €18,139 (+5.3%), from €343,789 to €361,928
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 | €548,007 | €478,587 | -€69,419 | -12.7% |
| Fixed assets | 21/28 | €256,453 | €231,636 | -€24,818 | -9.7% |
| Tangible fixed assets | 22/27 | €256,453 | €231,636 | -€24,818 | -9.7% |
| Land and buildings | 22 | €94,836 | €86,358 | -€8,478 | -8.9% |
| Plant, machinery and equipment | 23 | €138,817 | €120,321 | -€18,496 | -13.3% |
| Furniture and vehicles | 24 | €22,800 | €24,956 | +€2,156 | +9.5% |
| Current assets | 29/58 | €291,553 | €246,952 | -€44,602 | -15.3% |
| Stocks and contracts in progress | 3 | €164,849 | €129,102 | -€35,747 | -21.7% |
| Stocks | 30/36 | €164,849 | €129,102 | -€35,747 | -21.7% |
| Amounts receivable within one year | 40/41 | €106,695 | €83,014 | -€23,681 | -22.2% |
| Trade receivables | 40 | €89,142 | €63,530 | -€25,612 | -28.7% |
| Other amounts receivable | 41 | €17,553 | €19,484 | +€1,931 | +11.0% |
| Cash at bank and in hand | 54/58 | €17,752 | €31,394 | +€13,642 | +76.9% |
| Deferred charges and accrued income | 490/1 | €2,258 | €3,441 | +€1,184 | +52.4% |
| Total equity and liabilities | 10/49 | €548,007 | €478,587 | -€69,419 | -12.7% |
| Equity | 10/15 | €261,388 | €246,911 | -€14,477 | -5.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €54,238 | €54,238 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,750 | €6,750 | = | 0.0% |
| Distributable reserves | 133 | €47,488 | €47,488 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,150 | €172,673 | -€14,477 | -7.7% |
| Provisions and deferred taxes | 16 | €2,250 | €2,250 | = | 0.0% |
| Deferred taxes | 168 | €2,250 | €2,250 | = | 0.0% |
| Amounts payable | 17/49 | €284,369 | €229,427 | -€54,942 | -19.3% |
| Amounts payable after more than one year | 17 | €198,510 | €163,948 | -€34,562 | -17.4% |
| Financial debts | 170/4 | €198,510 | €163,948 | -€34,562 | -17.4% |
| Amounts payable within one year | 42/48 | €75,859 | €55,479 | -€20,380 | -26.9% |
| Current portion of amounts payable after more than one year | 42 | €36,870 | €34,562 | -€2,308 | -6.3% |
| Trade debts | 44 | €37,266 | €19,475 | -€17,792 | -47.7% |
| Suppliers | 440/4 | €37,266 | €19,475 | -€17,792 | -47.7% |
| Taxes, remuneration and social security | 45 | €1,723 | €1,442 | -€281 | -16.3% |
| Taxes | 450/3 | €1,723 | €1,442 | -€281 | -16.3% |
| Accrued charges and deferred income | 492/3 | €10,000 | €10,000 | = | 0.0% |
| Turnover | 70 | €343,789 | €361,928 | +€18,139 | +5.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €259,012 | €343,474 | +€84,461 | +32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,217 | €41,934 | +€716 | +1.7% |
| Other operating charges | 640/8 | €1,365 | €1,010 | -€355 | -26.0% |
| Gross operating margin | 9900 | €70,662 | €33,315 | -€37,347 | -52.9% |
| Operating profit (loss) | 9901 | €28,080 | -€9,628 | -€37,708 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +9200.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +9200.0% |
| Financial charges | 65/66B | €4,477 | €4,850 | +€373 | +8.3% |
| Recurring financial charges | 65 | €4,477 | €4,850 | +€373 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €23,603 | -€14,477 | -€38,080 | |
| Transfer from deferred taxes | 780 | €750 | - | -€750 | |
| Income taxes | 67/77 | €1,144 | - | -€1,144 | |
| Profit (loss) for the period | 9904 | €23,209 | -€14,477 | -€37,686 | |
| Transfer from tax-exempt reserves | 789 | €2,250 | - | -€2,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,459 | -€14,477 | -€39,936 |
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 8 October 2026 via checked.be.