PHILNET: 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.
PHILNET
Largest movements
- Current investments +€120,000
up €120,000 (+31.6%), from €380,000 to €500,000
- Tangible fixed assets -€18,625
down €18,625 (-16.6%), from €112,134 to €93,509
of which Plant, machinery and equipment: -€11,999
- Cash +€15,030
up €15,030 (+13.8%), from €109,212 to €124,242
mainly Net result for the year (+€143,526) and Depreciation (+€18,625)
- Profit (loss) carried forward +€143,526
up €143,526 (+29.0%), from €494,087 to €637,613
- Trade debts -€22,238
down €22,238 (-28.5%), from €77,925 to €55,687
- Gross operating margin +€97,477
up €97,477 (+79.5%), from €122,585 to €220,062
- Taxes +€25,394
up €25,394 (+102.4%), from €24,805 to €50,199
- Financial income +€10,519
up €10,519 (+1816.8%), from €579 to €11,098
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 | €702,656 | €830,303 | +€127,647 | +18.2% |
| Fixed assets | 21/28 | €112,424 | €93,799 | -€18,625 | -16.6% |
| Tangible fixed assets | 22/27 | €112,134 | €93,509 | -€18,625 | -16.6% |
| Land and buildings | 22 | €24,672 | €24,672 | = | 0.0% |
| Plant, machinery and equipment | 23 | €16,898 | €4,899 | -€11,999 | -71.0% |
| Other tangible fixed assets | 26 | €70,564 | €63,938 | -€6,626 | -9.4% |
| Financial fixed assets | 28 | €290 | €290 | = | 0.0% |
| Current assets | 29/58 | €590,232 | €736,504 | +€146,272 | +24.8% |
| Stocks and contracts in progress | 3 | €52,734 | €56,771 | +€4,037 | +7.7% |
| Stocks | 30/36 | €52,734 | €56,771 | +€4,037 | +7.7% |
| Amounts receivable within one year | 40/41 | €43,081 | €50,543 | +€7,462 | +17.3% |
| Trade receivables | 40 | €32,731 | €50,543 | +€17,812 | +54.4% |
| Other amounts receivable | 41 | €10,350 | €0 | -€10,350 | -100.0% |
| Current investments | 50/53 | €380,000 | €500,000 | +€120,000 | +31.6% |
| Cash at bank and in hand | 54/58 | €109,212 | €124,242 | +€15,030 | +13.8% |
| Deferred charges and accrued income | 490/1 | €5,205 | €4,948 | -€257 | -4.9% |
| Total equity and liabilities | 10/49 | €702,656 | €830,303 | +€127,647 | +18.2% |
| Equity | 10/15 | €622,237 | €765,763 | +€143,526 | +23.1% |
| Contributions | 10/11 | €116,500 | €116,500 | = | 0.0% |
| Capital | 10 | €116,500 | €116,500 | = | 0.0% |
| Issued capital | 100 | €116,500 | €116,500 | = | 0.0% |
| Reserves | 13 | €11,650 | €11,650 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,650 | €11,650 | = | 0.0% |
| Legal reserve | 130 | €11,650 | €11,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | €494,087 | €637,613 | +€143,526 | +29.0% |
| Amounts payable | 17/49 | €80,419 | €64,540 | -€15,879 | -19.7% |
| Amounts payable within one year | 42/48 | €80,419 | €64,540 | -€15,879 | -19.7% |
| Trade debts | 44 | €77,925 | €55,687 | -€22,238 | -28.5% |
| Suppliers | 440/4 | €77,925 | €55,687 | -€22,238 | -28.5% |
| Taxes, remuneration and social security | 45 | €2,494 | €8,853 | +€6,359 | +255.0% |
| Taxes | 450/3 | €2,494 | €8,853 | +€6,359 | +255.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,148 | €18,625 | +€1,477 | +8.6% |
| Other operating charges | 640/8 | €9,146 | €9,343 | +€197 | +2.2% |
| Non-recurring operating charges | 66A | - | €5,150 | +€5,150 | |
| Gross operating margin | 9900 | €122,585 | €220,062 | +€97,477 | +79.5% |
| Operating profit (loss) | 9901 | €96,291 | €186,944 | +€90,653 | +94.1% |
| Financial income | 75/76B | €579 | €11,098 | +€10,519 | +1816.8% |
| Recurring financial income | 75 | €579 | €11,098 | +€10,519 | +1816.8% |
| Financial charges | 65/66B | €4,310 | €4,317 | +€7 | +0.2% |
| Recurring financial charges | 65 | €4,310 | €4,317 | +€7 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €92,560 | €193,725 | +€101,165 | +109.3% |
| Income taxes | 67/77 | €24,805 | €50,199 | +€25,394 | +102.4% |
| Profit (loss) for the period | 9904 | €67,755 | €143,526 | +€75,771 | +111.8% |
| Profit (loss) for the period to be appropriated | 9905 | €67,755 | €143,526 | +€75,771 | +111.8% |
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 1 October 2026 via checked.be.