PHILVET: 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.
PHILVET
Largest movements
- Cash +€27,379
up €27,379 (+1020.5%), from €2,683 to €30,061
mainly Net result for the year (+€29,216) and Depreciation (+€5,298)
- Deferred charges and accrued income +€9,195
new in 2025: €9,195
- Tangible fixed assets -€4,291
down €4,291 (-69.6%), from €6,164 to €1,873
- Receivables within one year +€2,332
up €2,332 (+61.3%), from €3,805 to €6,137
of which Trade receivables: +€1,913
- Profit (loss) carried forward +€29,216
up €29,216 (+88.6%), from -€32,973 to -€3,756
- Trade debts +€4,381
up €4,381 (+233.3%), from €1,878 to €6,258
- Other debts +€1,540
up €1,540 (+4.0%), from €38,443 to €39,983
- Short-term financial debts -€504
no longer reported in 2025 (was €504)
- Gross operating margin +€55,188
up €55,188, from -€13,838 to €41,350
- Taxes +€4,732
up €4,732, from -€453 to €4,279
- Other operating charges -€862
down €862 (-67.0%), from €1,287 to €425
- Financial charges -€481
down €481 (-67.0%), from €718 to €237
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 | €12,652 | €47,267 | +€34,615 | +273.6% |
| Fixed assets | 21/28 | €6,164 | €1,873 | -€4,291 | -69.6% |
| Tangible fixed assets | 22/27 | €6,164 | €1,873 | -€4,291 | -69.6% |
| Furniture and vehicles | 24 | €6,164 | €1,873 | -€4,291 | -69.6% |
| Current assets | 29/58 | €6,488 | €45,394 | +€38,906 | +599.7% |
| Amounts receivable within one year | 40/41 | €3,805 | €6,137 | +€2,332 | +61.3% |
| Trade receivables | 40 | €3,630 | €5,543 | +€1,913 | +52.7% |
| Other amounts receivable | 41 | €175 | €594 | +€419 | +239.7% |
| Cash at bank and in hand | 54/58 | €2,683 | €30,061 | +€27,379 | +1020.5% |
| Deferred charges and accrued income | 490/1 | - | €9,195 | +€9,195 | |
| Total equity and liabilities | 10/49 | €12,652 | €47,267 | +€34,615 | +273.6% |
| Equity | 10/15 | -€29,973 | -€756 | +€29,216 | +97.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,973 | -€3,756 | +€29,216 | +88.6% |
| Amounts payable | 17/49 | €42,624 | €48,023 | +€5,399 | +12.7% |
| Amounts payable within one year | 42/48 | €42,624 | €48,023 | +€5,399 | +12.7% |
| Financial debts | 43 | €504 | - | -€504 | |
| Credit institutions | 430/8 | €504 | - | -€504 | |
| Trade debts | 44 | €1,878 | €6,258 | +€4,381 | +233.3% |
| Suppliers | 440/4 | €1,878 | €6,258 | +€4,381 | +233.3% |
| Taxes, remuneration and social security | 45 | €1,800 | €1,782 | -€18 | -1.0% |
| Taxes | 450/3 | €1,800 | €1,782 | -€18 | -1.0% |
| Other amounts payable | 47/48 | €38,443 | €39,983 | +€1,540 | +4.0% |
| Remuneration, social security and pensions | 62 | €1,897 | €1,894 | -€2 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,599 | €5,298 | -€301 | -5.4% |
| Other operating charges | 640/8 | €1,287 | €425 | -€862 | -67.0% |
| Gross operating margin | 9900 | -€13,838 | €41,350 | +€55,188 | |
| Operating profit (loss) | 9901 | -€22,621 | €33,732 | +€56,353 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -33.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -33.3% |
| Financial charges | 65/66B | €718 | €237 | -€481 | -67.0% |
| Recurring financial charges | 65 | €718 | €237 | -€481 | -67.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,339 | €33,495 | +€56,834 | |
| Income taxes | 67/77 | -€453 | €4,279 | +€4,732 | |
| Profit (loss) for the period | 9904 | -€22,886 | €29,216 | +€52,103 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,886 | €29,216 | +€52,103 |
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 4 October 2026 via checked.be.