PHIMAG: 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.
PHIMAG
Largest movements
- Tangible fixed assets -€33,646
down €33,646 (-17.6%), from €191,354 to €157,709
of which Plant, machinery and equipment: -€19,664
- Receivables within one year -€6,443
down €6,443 (-50.2%), from €12,830 to €6,387
- Debts after one year -€20,405
down €20,405 (-26.3%), from €77,643 to €57,238
- Reserves -€12,400
down €12,400 (-27.4%), from €45,259 to €32,859
of which Tax-exempt reserves: -€12,400
- Other debts -€10,012
down €10,012 (-19.8%), from €50,585 to €40,573
- Other operating charges +€28,227
up €28,227 (+1048.5%), from €2,692 to €30,920
- Gross operating margin +€11,433
up €11,433 (+11.4%), from €100,334 to €111,768
- Staff costs -€3,510
down €3,510 (-6.5%), from €53,883 to €50,373
- Depreciation +€3,045
up €3,045 (+9.6%), from €31,724 to €34,769
- Taxes +€1,519
up €1,519 (+77.8%), from €1,953 to €3,473
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 | €405,120 | €362,322 | -€42,798 | -10.6% |
| Fixed assets | 21/28 | €193,006 | €159,360 | -€33,646 | -17.4% |
| Tangible fixed assets | 22/27 | €191,354 | €157,709 | -€33,646 | -17.6% |
| Land and buildings | 22 | €44,401 | €41,662 | -€2,739 | -6.2% |
| Plant, machinery and equipment | 23 | €101,655 | €81,991 | -€19,664 | -19.3% |
| Furniture and vehicles | 24 | €45,298 | €34,055 | -€11,243 | -24.8% |
| Financial fixed assets | 28 | €1,651 | €1,651 | = | 0.0% |
| Current assets | 29/58 | €212,114 | €202,962 | -€9,152 | -4.3% |
| Stocks and contracts in progress | 3 | €133,828 | €131,746 | -€2,082 | -1.6% |
| Stocks | 30/36 | €133,828 | €131,746 | -€2,082 | -1.6% |
| Amounts receivable within one year | 40/41 | €12,830 | €6,387 | -€6,443 | -50.2% |
| Other amounts receivable | 41 | €12,830 | €6,387 | -€6,443 | -50.2% |
| Cash at bank and in hand | 54/58 | €59,130 | €60,758 | +€1,628 | +2.8% |
| Deferred charges and accrued income | 490/1 | €6,327 | €4,071 | -€2,255 | -35.6% |
| Total equity and liabilities | 10/49 | €405,120 | €362,322 | -€42,798 | -10.6% |
| Equity | 10/15 | €241,090 | €225,721 | -€15,368 | -6.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €45,259 | €32,859 | -€12,400 | -27.4% |
| Tax-exempt reserves | 132 | €12,400 | - | -€12,400 | |
| Distributable reserves | 133 | €32,859 | €32,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €177,238 | €174,270 | -€2,968 | -1.7% |
| Amounts payable | 17/49 | €164,031 | €136,601 | -€27,430 | -16.7% |
| Amounts payable after more than one year | 17 | €77,643 | €57,238 | -€20,405 | -26.3% |
| Financial debts | 170/4 | €77,643 | €57,238 | -€20,405 | -26.3% |
| Amounts payable within one year | 42/48 | €83,890 | €75,707 | -€8,183 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €19,723 | €20,405 | +€682 | +3.5% |
| Trade debts | 44 | €5,140 | €4,225 | -€914 | -17.8% |
| Suppliers | 440/4 | €2,984 | €2,403 | -€581 | -19.5% |
| Bills of exchange payable | 441 | €2,156 | €1,823 | -€333 | -15.5% |
| Taxes, remuneration and social security | 45 | €8,442 | €10,504 | +€2,062 | +24.4% |
| Taxes | 450/3 | €2,618 | €1,872 | -€745 | -28.5% |
| Remuneration and social security | 454/9 | €5,825 | €8,632 | +€2,807 | +48.2% |
| Other amounts payable | 47/48 | €50,585 | €40,573 | -€10,012 | -19.8% |
| Accrued charges and deferred income | 492/3 | €2,497 | €3,655 | +€1,158 | +46.4% |
| Remuneration, social security and pensions | 62 | €53,883 | €50,373 | -€3,510 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,724 | €34,769 | +€3,045 | +9.6% |
| Other operating charges | 640/8 | €2,692 | €30,920 | +€28,227 | +1048.5% |
| Gross operating margin | 9900 | €100,334 | €111,768 | +€11,433 | +11.4% |
| Operating profit (loss) | 9901 | €12,035 | -€4,294 | -€16,329 | |
| Financial income | 75/76B | €2 | €3 | +€1 | +50.0% |
| Recurring financial income | 75 | €2 | €3 | +€1 | +50.0% |
| Financial charges | 65/66B | €6,409 | €7,604 | +€1,195 | +18.6% |
| Recurring financial charges | 65 | €6,409 | €7,604 | +€1,195 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | €5,627 | -€11,896 | -€17,523 | |
| Transfer from deferred taxes | 780 | - | €16,840 | +€16,840 | |
| Income taxes | 67/77 | €1,953 | €3,473 | +€1,519 | +77.8% |
| Profit (loss) for the period | 9904 | €3,674 | €1,472 | -€2,202 | -59.9% |
| Transfer to tax-exempt reserves | 689 | - | €4,440 | +€4,440 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,674 | -€2,968 | -€6,642 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.