PHIMAD: 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.
PHIMAD
Largest movements
- Tangible fixed assets -€30,568
down €30,568 (-5.0%), from €616,331 to €585,763
of which Land and buildings: -€25,129
- Debts after one year -€49,402
down €49,402 (-13.0%), from €379,752 to €330,349
- Other debts -€14,560
down €14,560 (-99.7%), from €14,599 to €39
- Profit (loss) carried forward +€14,110
up €14,110 (+7.0%), from €202,013 to €216,123
- Tax, wage and social debts +€9,169
up €9,169 (+104%), from €8,775 to €17,944
of which Taxes: +€11,569
- Gross operating margin +€9,838
up €9,838 (+9.5%), from €103,597 to €113,435
- Financial charges -€5,288
down €5,288 (-20.7%), from €25,485 to €20,197
- Taxes +€3,119
up €3,119 (+24.7%), from €12,651 to €15,771
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 | €777,534 | €744,261 | -€33,273 | -4.3% |
| Fixed assets | 21/28 | €616,331 | €585,763 | -€30,568 | -5.0% |
| Tangible fixed assets | 22/27 | €616,331 | €585,763 | -€30,568 | -5.0% |
| Land and buildings | 22 | €598,297 | €573,168 | -€25,129 | -4.2% |
| Plant, machinery and equipment | 23 | €3,269 | €2,476 | -€793 | -24.2% |
| Furniture and vehicles | 24 | €7,038 | €4,969 | -€2,068 | -29.4% |
| Other tangible fixed assets | 26 | €7,728 | €5,149 | -€2,579 | -33.4% |
| Current assets | 29/58 | €161,202 | €158,498 | -€2,705 | -1.7% |
| Cash at bank and in hand | 54/58 | €157,989 | €151,011 | -€6,978 | -4.4% |
| Deferred charges and accrued income | 490/1 | €3,214 | €7,487 | +€4,273 | +133% |
| Total equity and liabilities | 10/49 | €777,534 | €744,261 | -€33,273 | -4.3% |
| Equity | 10/15 | €325,273 | €339,383 | +€14,110 | +4.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €110,860 | €110,860 | = | 0.0% |
| Distributable reserves | 133 | €110,860 | €110,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €202,013 | €216,123 | +€14,110 | +7.0% |
| Amounts payable | 17/49 | €452,261 | €404,878 | -€47,383 | -10.5% |
| Amounts payable after more than one year | 17 | €379,752 | €330,349 | -€49,402 | -13.0% |
| Financial debts | 170/4 | €379,752 | €330,349 | -€49,402 | -13.0% |
| Amounts payable within one year | 42/48 | €72,509 | €74,528 | +€2,019 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €40,219 | €45,679 | +€5,459 | +13.6% |
| Trade debts | 44 | €8,916 | €10,866 | +€1,950 | +21.9% |
| Suppliers | 440/4 | €8,916 | €10,866 | +€1,950 | +21.9% |
| Taxes, remuneration and social security | 45 | €8,775 | €17,944 | +€9,169 | +104% |
| Taxes | 450/3 | €6,375 | €17,944 | +€11,569 | +181% |
| Remuneration and social security | 454/9 | €2,400 | €0 | -€2,400 | -100% |
| Other amounts payable | 47/48 | €14,599 | €39 | -€14,560 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,022 | €30,568 | +€546 | +1.8% |
| Other operating charges | 640/8 | €2,251 | €2,181 | -€70 | -3.1% |
| Gross operating margin | 9900 | €103,597 | €113,435 | +€9,838 | +9.5% |
| Operating profit (loss) | 9901 | €71,324 | €80,686 | +€9,362 | +13.1% |
| Financial income | 75/76B | €509 | €820 | +€311 | +61.2% |
| Recurring financial income | 75 | €509 | €820 | +€311 | +61.2% |
| Financial charges | 65/66B | €25,485 | €20,197 | -€5,288 | -20.7% |
| Recurring financial charges | 65 | €25,485 | €20,197 | -€5,288 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €46,348 | €61,309 | +€14,961 | +32.3% |
| Income taxes | 67/77 | €12,651 | €15,771 | +€3,119 | +24.7% |
| Profit (loss) for the period | 9904 | €33,696 | €45,539 | +€11,842 | +35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,696 | €45,539 | +€11,842 | +35.1% |
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 18 October 2026 via checked.be.