PHILOGICS: 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.
PHILOGICS
Largest movements
- Tangible fixed assets -€23,291
down €23,291 (-2.8%), from €843,809 to €820,518
of which Land and buildings: -€21,943
- Receivables within one year +€17,686
up €17,686 (+29.8%), from €59,368 to €77,054
of which Trade receivables: +€17,686
- Deferred charges and accrued income -€11,852
no longer reported in 2025 (was €11,852)
- Debts after one year -€43,492
down €43,492 (-5.9%), from €741,576 to €698,085
- Reserves +€40,797
up €40,797 (+28.3%), from €144,205 to €185,002
- Other debts -€10,709
down €10,709 (-65.4%), from €16,368 to €5,660
- Gross operating margin +€20,075
up €20,075 (+19.2%), from €104,590 to €124,665
- Taxes +€4,436
up €4,436 (+32.3%), from €13,712 to €18,148
- Other operating charges +€3,208
up €3,208 (+51.3%), from €6,250 to €9,458
- Financial charges +€2,607
up €2,607 (+21.1%), from €12,385 to €14,992
- Depreciation +€1,639
up €1,639 (+4.1%), from €39,804 to €41,443
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 | €975,166 | €961,817 | -€13,350 | -1.4% |
| Fixed assets | 21/28 | €844,059 | €820,768 | -€23,291 | -2.8% |
| Tangible fixed assets | 22/27 | €843,809 | €820,518 | -€23,291 | -2.8% |
| Land and buildings | 22 | €840,311 | €818,368 | -€21,943 | -2.6% |
| Plant, machinery and equipment | 23 | €1,151 | €464 | -€687 | -59.7% |
| Furniture and vehicles | 24 | €2,348 | €1,686 | -€662 | -28.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €131,107 | €141,048 | +€9,942 | +7.6% |
| Amounts receivable within one year | 40/41 | €59,368 | €77,054 | +€17,686 | +29.8% |
| Trade receivables | 40 | €58,080 | €75,766 | +€17,686 | +30.5% |
| Other amounts receivable | 41 | €1,288 | €1,288 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €59,887 | €63,995 | +€4,108 | +6.9% |
| Deferred charges and accrued income | 490/1 | €11,852 | - | -€11,852 | |
| Total equity and liabilities | 10/49 | €975,166 | €961,817 | -€13,350 | -1.4% |
| Equity | 10/15 | €154,205 | €195,002 | +€40,797 | +26.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €144,205 | €185,002 | +€40,797 | +28.3% |
| Distributable reserves | 133 | €144,205 | €185,002 | +€40,797 | +28.3% |
| Amounts payable | 17/49 | €820,961 | €766,814 | -€54,147 | -6.6% |
| Amounts payable after more than one year | 17 | €741,576 | €698,085 | -€43,492 | -5.9% |
| Financial debts | 170/4 | €741,576 | €698,085 | -€43,492 | -5.9% |
| Amounts payable within one year | 42/48 | €79,385 | €68,729 | -€10,655 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €37,281 | €36,492 | -€789 | -2.1% |
| Trade debts | 44 | €11,258 | €4,603 | -€6,655 | -59.1% |
| Suppliers | 440/4 | €11,258 | €4,603 | -€6,655 | -59.1% |
| Taxes, remuneration and social security | 45 | €14,477 | €21,975 | +€7,498 | +51.8% |
| Taxes | 450/3 | €14,477 | €21,975 | +€7,498 | +51.8% |
| Other amounts payable | 47/48 | €16,368 | €5,660 | -€10,709 | -65.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,804 | €41,443 | +€1,639 | +4.1% |
| Other operating charges | 640/8 | €6,250 | €9,458 | +€3,208 | +51.3% |
| Gross operating margin | 9900 | €104,590 | €124,665 | +€20,075 | +19.2% |
| Operating profit (loss) | 9901 | €58,535 | €73,763 | +€15,228 | +26.0% |
| Financial income | 75/76B | €0 | €174 | +€174 | +173,750% |
| Recurring financial income | 75 | €0 | €174 | +€174 | +173,750% |
| Financial charges | 65/66B | €12,385 | €14,992 | +€2,607 | +21.1% |
| Recurring financial charges | 65 | €12,385 | €14,992 | +€2,607 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | €46,151 | €58,945 | +€12,794 | +27.7% |
| Income taxes | 67/77 | €13,712 | €18,148 | +€4,436 | +32.3% |
| Profit (loss) for the period | 9904 | €32,439 | €40,797 | +€8,359 | +25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,439 | €40,797 | +€8,359 | +25.8% |
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 24 October 2026 via checked.be.