PHIMAC CONSULT: 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.
PHIMAC CONSULT
Largest movements
- Receivables within one year -€73,901
down €73,901 (-25.0%), from €295,724 to €221,822
of which Other amounts receivable: -€62,936
- Stocks and contracts -€32,597
down €32,597 (-37.4%), from €87,203 to €54,607
- Tangible fixed assets +€18,885
up €18,885 (+5.4%), from €351,738 to €370,623
of which Furniture and vehicles: +€10,467
- Cash +€13,091
up €13,091 (+15.5%), from €84,649 to €97,740
mainly Receivables within one year (+€73,901) and Depreciation (+€44,999)
- Current investments -€10,038
down €10,038 (-12.5%), from €80,000 to €69,962
- Short-term financial debts -€47,048
down €47,048 (-100.0%), from €47,048 to €0
- Debts after one year -€29,228
down €29,228 (-18.5%), from €157,788 to €128,560
- Reserves +€10,552
up €10,552 (+2.4%), from €432,745 to €443,297
of which Distributable reserves: +€10,552
- Tax, wage and social debts -€10,290
down €10,290 (-13.5%), from €76,065 to €65,775
of which Taxes: -€14,214
- Current portion of long-term debt -€9,430
down €9,430 (-24.4%), from €38,658 to €29,228
- Staff costs +€51,933
up €51,933 (+19.3%), from €268,903 to €320,836
- Gross operating margin -€37,470
down €37,470 (-7.9%), from €475,229 to €437,759
- Taxes -€36,972
down €36,972 (-62.9%), from €58,776 to €21,805
- Provisions +€13,353
up €13,353, from -€13,353 to €0
- Depreciation +€8,447
up €8,447 (+23.1%), from €36,552 to €44,999
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 | €904,081 | €818,566 | -€85,515 | -9.5% |
| Fixed assets | 21/28 | €355,764 | €373,416 | +€17,651 | +5.0% |
| Intangible fixed assets | 21 | €4,027 | €2,793 | -€1,234 | -30.6% |
| Tangible fixed assets | 22/27 | €351,738 | €370,623 | +€18,885 | +5.4% |
| Land and buildings | 22 | €339,253 | €347,995 | +€8,742 | +2.6% |
| Plant, machinery and equipment | 23 | €12,485 | €12,161 | -€324 | -2.6% |
| Furniture and vehicles | 24 | - | €10,467 | +€10,467 | |
| Current assets | 29/58 | €548,317 | €445,150 | -€103,166 | -18.8% |
| Stocks and contracts in progress | 3 | €87,203 | €54,607 | -€32,597 | -37.4% |
| Stocks | 30/36 | €87,203 | €54,607 | -€32,597 | -37.4% |
| Amounts receivable within one year | 40/41 | €295,724 | €221,822 | -€73,901 | -25.0% |
| Trade receivables | 40 | €218,543 | €207,578 | -€10,966 | -5.0% |
| Other amounts receivable | 41 | €77,180 | €14,245 | -€62,936 | -81.5% |
| Current investments | 50/53 | €80,000 | €69,962 | -€10,038 | -12.5% |
| Cash at bank and in hand | 54/58 | €84,649 | €97,740 | +€13,091 | +15.5% |
| Deferred charges and accrued income | 490/1 | €740 | €1,019 | +€279 | +37.7% |
| Total equity and liabilities | 10/49 | €904,081 | €818,566 | -€85,515 | -9.5% |
| Equity | 10/15 | €438,945 | €449,497 | +€10,552 | +2.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €432,745 | €443,297 | +€10,552 | +2.4% |
| Tax-exempt reserves | 132 | €15,613 | €15,613 | = | 0.0% |
| Distributable reserves | 133 | €417,132 | €427,684 | +€10,552 | +2.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Amounts payable | 17/49 | €465,135 | €369,069 | -€96,067 | -20.7% |
| Amounts payable after more than one year | 17 | €157,788 | €128,560 | -€29,228 | -18.5% |
| Financial debts | 170/4 | €157,788 | €128,560 | -€29,228 | -18.5% |
| Amounts payable within one year | 42/48 | €301,152 | €240,508 | -€60,644 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €38,658 | €29,228 | -€9,430 | -24.4% |
| Financial debts | 43 | €47,048 | €0 | -€47,048 | -100.0% |
| Credit institutions | 430/8 | €47,048 | €0 | -€47,048 | -100.0% |
| Trade debts | 44 | €139,382 | €145,506 | +€6,124 | +4.4% |
| Suppliers | 440/4 | €139,382 | €145,506 | +€6,124 | +4.4% |
| Taxes, remuneration and social security | 45 | €76,065 | €65,775 | -€10,290 | -13.5% |
| Taxes | 450/3 | €40,021 | €25,807 | -€14,214 | -35.5% |
| Remuneration and social security | 454/9 | €36,044 | €39,968 | +€3,924 | +10.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €6,195 | €0 | -€6,195 | -100.0% |
| Remuneration, social security and pensions | 62 | €268,903 | €320,836 | +€51,933 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,552 | €44,999 | +€8,447 | +23.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€13,353 | €0 | +€13,353 | |
| Other operating charges | 640/8 | €2,794 | €3,510 | +€716 | +25.6% |
| Non-recurring operating charges | 66A | €32 | €0 | -€32 | -100.0% |
| Gross operating margin | 9900 | €475,229 | €437,759 | -€37,470 | -7.9% |
| Operating profit (loss) | 9901 | €180,300 | €68,413 | -€111,887 | -62.1% |
| Financial income | 75/76B | €2,685 | €1,032 | -€1,654 | -61.6% |
| Recurring financial income | 75 | €2,685 | €1,032 | -€1,654 | -61.6% |
| Financial charges | 65/66B | €6,637 | €4,589 | -€2,048 | -30.9% |
| Recurring financial charges | 65 | €6,637 | €4,589 | -€2,048 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €176,349 | €64,856 | -€111,492 | -63.2% |
| Income taxes | 67/77 | €58,776 | €21,805 | -€36,972 | -62.9% |
| Profit (loss) for the period | 9904 | €117,572 | €43,052 | -€74,521 | -63.4% |
| Profit (loss) for the period to be appropriated | 9905 | €117,572 | €43,052 | -€74,521 | -63.4% |
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 12 October 2026 via checked.be.