Philo Invest: what changed
Two financial 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.
Philo Invest
Largest movements
- Tangible fixed assets -€5,917
down €5,917 (-2.8%), from €215,136 to €209,219
of which Land and buildings: -€8,900
- Receivables within one year +€4,282
up €4,282 (+9.3%), from €46,009 to €50,290
- Other debts +€28,373
up €28,373 (+79.4%), from €35,736 to €64,109
- Trade debts -€27,638
down €27,638 (-94.9%), from €29,121 to €1,484
of which Bills of exchange payable: -€26,256
- Debts after one year -€26,921
down €26,921 (-14.3%), from €188,000 to €161,079
- Current portion of long-term debt +€26,921
new in 2025: €26,921
- Tax, wage and social debts -€11,026
down €11,026 (-65.9%), from €16,724 to €5,698
of which Taxes: -€12,246
- Other operating charges -€29,762
down €29,762 (-95.7%), from €31,094 to €1,332
- Gross operating margin +€2,585
up €2,585 (+12.9%), from €20,022 to €22,608
- Taxes +€2,396
up €2,396 (+2,620%), from €91 to €2,488
- Depreciation +€1,602
up €1,602 (+21.8%), from €7,364 to €8,966
- Financial charges +€395
up €395 (+38.2%), from €1,036 to €1,431
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.
Derived cash bridge
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 | €264,021 | €262,134 | -€1,886 | -0.7% |
| Fixed assets | 21/28 | €216,636 | €210,719 | -€5,917 | -2.7% |
| Tangible fixed assets | 22/27 | €215,136 | €209,219 | -€5,917 | -2.8% |
| Land and buildings | 22 | €215,136 | €206,236 | -€8,900 | -4.1% |
| Furniture and vehicles | 24 | - | €902 | +€902 | |
| Other tangible fixed assets | 26 | - | €2,081 | +€2,081 | |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €47,385 | €51,415 | +€4,030 | +8.5% |
| Amounts receivable within one year | 40/41 | €46,009 | €50,290 | +€4,282 | +9.3% |
| Trade receivables | 40 | €46,009 | €50,290 | +€4,282 | +9.3% |
| Cash at bank and in hand | 54/58 | €1,119 | €867 | -€251 | -22.5% |
| Deferred charges and accrued income | 490/1 | €257 | €257 | = | 0.0% |
| Total equity and liabilities | 10/49 | €264,021 | €262,134 | -€1,886 | -0.7% |
| Equity | 10/15 | -€5,561 | €2,843 | +€8,404 | |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €10,502 | €10,502 | = | 0.0% |
| Distributable reserves | 133 | €10,502 | €10,502 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,562 | -€11,158 | +€8,404 | +43.0% |
| Amounts payable | 17/49 | €269,581 | €259,291 | -€10,290 | -3.8% |
| Amounts payable after more than one year | 17 | €188,000 | €161,079 | -€26,921 | -14.3% |
| Financial debts | 170/4 | €188,000 | €161,079 | -€26,921 | -14.3% |
| Amounts payable within one year | 42/48 | €81,581 | €98,212 | +€16,631 | +20.4% |
| Current portion of amounts payable after more than one year | 42 | - | €26,921 | +€26,921 | |
| Trade debts | 44 | €29,121 | €1,484 | -€27,638 | -94.9% |
| Suppliers | 440/4 | €2,865 | €1,484 | -€1,381 | -48.2% |
| Bills of exchange payable | 441 | €26,256 | - | -€26,256 | |
| Taxes, remuneration and social security | 45 | €16,724 | €5,698 | -€11,026 | -65.9% |
| Taxes | 450/3 | €15,276 | €3,030 | -€12,246 | -80.2% |
| Remuneration and social security | 454/9 | €1,448 | €2,668 | +€1,220 | +84.3% |
| Other amounts payable | 47/48 | €35,736 | €64,109 | +€28,373 | +79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,364 | €8,966 | +€1,602 | +21.8% |
| Other operating charges | 640/8 | €31,094 | €1,332 | -€29,762 | -95.7% |
| Gross operating margin | 9900 | €20,022 | €22,608 | +€2,585 | +12.9% |
| Operating profit (loss) | 9901 | -€18,436 | €12,310 | +€30,746 | |
| Financial income | 75/76B | €1 | €12 | +€11 | +1,629% |
| Recurring financial income | 75 | €1 | €12 | +€11 | +1,629% |
| Financial charges | 65/66B | €1,036 | €1,431 | +€395 | +38.2% |
| Recurring financial charges | 65 | €1,036 | €1,431 | +€395 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | -€19,471 | €10,891 | +€30,362 | |
| Income taxes | 67/77 | €91 | €2,488 | +€2,396 | +2,620% |
| Profit (loss) for the period | 9904 | -€19,562 | €8,404 | +€27,966 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,562 | €8,404 | +€27,966 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.