PHIMACO: 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.
PHIMACO
Largest movements
- Cash +€75,639
up €75,639 (+21.6%), from €350,317 to €425,956
mainly Net result for the year (+€53,600) and Deferred charges and accrued income (+€49,802)
- Deferred charges and accrued income -€49,802
down €49,802 (-56.6%), from €88,056 to €38,254
- Receivables within one year +€9,851
up €9,851 (+20.2%), from €48,878 to €58,729
of which Other amounts receivable: +€7,545
- Reserves +€11,600
up €11,600 (+3.6%), from €324,709 to €336,309
of which Distributable reserves: +€11,600
- Other debts +€10,496
up €10,496 (+26.5%), from €39,585 to €50,081
- Tax, wage and social debts +€6,376
up €6,376 (+13.1%), from €48,508 to €54,884
of which Taxes: +€5,840
- Gross operating margin +€16,772
up €16,772 (+7.0%), from €239,300 to €256,072
- Staff costs +€8,321
up €8,321 (+5.2%), from €158,584 to €166,905
- Financial income -€8,177
down €8,177 (-66.9%), from €12,217 to €4,040
- Taxes +€6,722
up €6,722 (+42.4%), from €15,848 to €22,570
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 | €508,332 | €540,257 | +€31,925 | +6.3% |
| Fixed assets | 21/28 | €21,081 | €17,318 | -€3,763 | -17.9% |
| Tangible fixed assets | 22/27 | €21,046 | €17,283 | -€3,763 | -17.9% |
| Plant, machinery and equipment | 23 | €590 | €2,721 | +€2,131 | +361.2% |
| Furniture and vehicles | 24 | €20,456 | €14,562 | -€5,894 | -28.8% |
| Financial fixed assets | 28 | €35 | €35 | = | 0.0% |
| Current assets | 29/58 | €487,251 | €522,939 | +€35,688 | +7.3% |
| Amounts receivable within one year | 40/41 | €48,878 | €58,729 | +€9,851 | +20.2% |
| Trade receivables | 40 | €34,670 | €36,976 | +€2,306 | +6.7% |
| Other amounts receivable | 41 | €14,208 | €21,753 | +€7,545 | +53.1% |
| Cash at bank and in hand | 54/58 | €350,317 | €425,956 | +€75,639 | +21.6% |
| Deferred charges and accrued income | 490/1 | €88,056 | €38,254 | -€49,802 | -56.6% |
| Total equity and liabilities | 10/49 | €508,332 | €540,257 | +€31,925 | +6.3% |
| Equity | 10/15 | €386,709 | €398,309 | +€11,600 | +3.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €324,709 | €336,309 | +€11,600 | +3.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €318,509 | €330,109 | +€11,600 | +3.6% |
| Provisions and deferred taxes | 16 | €25,164 | €24,532 | -€632 | -2.5% |
| Provisions for liabilities and charges | 160/5 | €25,164 | €24,532 | -€632 | -2.5% |
| Other liabilities and charges | 164/5 | €25,164 | €24,532 | -€632 | -2.5% |
| Amounts payable | 17/49 | €96,459 | €117,416 | +€20,957 | +21.7% |
| Amounts payable within one year | 42/48 | €96,459 | €117,416 | +€20,957 | +21.7% |
| Trade debts | 44 | €8,366 | €12,451 | +€4,085 | +48.8% |
| Suppliers | 440/4 | €8,366 | €12,451 | +€4,085 | +48.8% |
| Taxes, remuneration and social security | 45 | €48,508 | €54,884 | +€6,376 | +13.1% |
| Taxes | 450/3 | €32,649 | €38,489 | +€5,840 | +17.9% |
| Remuneration and social security | 454/9 | €15,859 | €16,395 | +€536 | +3.4% |
| Other amounts payable | 47/48 | €39,585 | €50,081 | +€10,496 | +26.5% |
| Non-recurring operating income | 76A | €1,011 | - | -€1,011 | |
| Remuneration, social security and pensions | 62 | €158,584 | €166,905 | +€8,321 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,962 | €7,290 | +€328 | +4.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €10,029 | €9,671 | -€358 | -3.6% |
| Gross operating margin | 9900 | €239,300 | €256,072 | +€16,772 | +7.0% |
| Operating profit (loss) | 9901 | €63,725 | €72,206 | +€8,481 | +13.3% |
| Financial income | 75/76B | €12,217 | €4,040 | -€8,177 | -66.9% |
| Recurring financial income | 75 | €12,217 | €4,040 | -€8,177 | -66.9% |
| Financial charges | 65/66B | €94 | €76 | -€18 | -19.1% |
| Recurring financial charges | 65 | €94 | €76 | -€18 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €75,848 | €76,170 | +€322 | +0.4% |
| Income taxes | 67/77 | €15,848 | €22,570 | +€6,722 | +42.4% |
| Profit (loss) for the period | 9904 | €60,000 | €53,600 | -€6,400 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €60,000 | €53,600 | -€6,400 | -10.7% |
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 5 October 2026 via checked.be.