PHIMARCO: 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.
PHIMARCO
Largest movements
- Receivables within one year +€59,391
up €59,391 (+853.5%), from €6,959 to €66,349
- Tangible fixed assets +€24,968
up €24,968 (+2.8%), from €882,932 to €907,901
- Other debts +€70,020
up €70,020 (+120.8%), from €57,962 to €127,982
- Profit (loss) carried forward +€35,050
up €35,050 (+1183.4%), from €2,962 to €38,012
- Debts after one year -€29,463
down €29,463 (-3.9%), from €757,362 to €727,899
of which Financial debts: -€25,663
- Tax, wage and social debts +€11,526
up €11,526 (+174.9%), from €6,592 to €18,118
- Trade debts +€10,591
up €10,591 (+293.2%), from €3,612 to €14,203
- Gross operating margin +€34,228
up €34,228 (+52.2%), from €65,559 to €99,788
- Taxes +€7,409
up €7,409 (+138.4%), from €5,353 to €12,762
- Depreciation +€4,491
up €4,491 (+15.2%), from €29,477 to €33,967
- Financial charges +€1,083
up €1,083 (+13.5%), from €7,995 to €9,078
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 | €897,187 | €985,214 | +€88,026 | +9.8% |
| Fixed assets | 21/28 | €886,682 | €911,651 | +€24,968 | +2.8% |
| Tangible fixed assets | 22/27 | €882,932 | €907,901 | +€24,968 | +2.8% |
| Land and buildings | 22 | €882,932 | €907,901 | +€24,968 | +2.8% |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €10,505 | €73,563 | +€63,058 | +600.3% |
| Amounts receivable within one year | 40/41 | €6,959 | €66,349 | +€59,391 | +853.5% |
| Trade receivables | 40 | €6,959 | €66,349 | +€59,391 | +853.5% |
| Cash at bank and in hand | 54/58 | €3,348 | €4,390 | +€1,042 | +31.1% |
| Deferred charges and accrued income | 490/1 | €199 | €2,824 | +€2,625 | +1320.8% |
| Total equity and liabilities | 10/49 | €897,187 | €985,214 | +€88,026 | +9.8% |
| Equity | 10/15 | €36,454 | €71,504 | +€35,050 | +96.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,892 | €14,892 | = | 0.0% |
| Distributable reserves | 133 | €14,892 | €14,892 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,962 | €38,012 | +€35,050 | +1183.4% |
| Amounts payable | 17/49 | €860,734 | €913,710 | +€52,976 | +6.2% |
| Amounts payable after more than one year | 17 | €757,362 | €727,899 | -€29,463 | -3.9% |
| Financial debts | 170/4 | €753,562 | €727,899 | -€25,663 | -3.4% |
| Other amounts payable | 178/9 | €3,800 | - | -€3,800 | |
| Amounts payable within one year | 42/48 | €103,334 | €185,811 | +€82,477 | +79.8% |
| Current portion of amounts payable after more than one year | 42 | €35,168 | €25,508 | -€9,661 | -27.5% |
| Trade debts | 44 | €3,612 | €14,203 | +€10,591 | +293.2% |
| Suppliers | 440/4 | €3,612 | €14,203 | +€10,591 | +293.2% |
| Taxes, remuneration and social security | 45 | €6,592 | €18,118 | +€11,526 | +174.9% |
| Taxes | 450/3 | €6,592 | €18,118 | +€11,526 | +174.9% |
| Other amounts payable | 47/48 | €57,962 | €127,982 | +€70,020 | +120.8% |
| Accrued charges and deferred income | 492/3 | €38 | - | -€38 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,477 | €33,967 | +€4,491 | +15.2% |
| Other operating charges | 640/8 | €8,474 | €8,930 | +€456 | +5.4% |
| Gross operating margin | 9900 | €65,559 | €99,788 | +€34,228 | +52.2% |
| Operating profit (loss) | 9901 | €27,609 | €56,890 | +€29,282 | +106.1% |
| Financial income | 75/76B | €32 | €0 | -€32 | -99.1% |
| Recurring financial income | 75 | €32 | €0 | -€32 | -99.1% |
| Financial charges | 65/66B | €7,995 | €9,078 | +€1,083 | +13.5% |
| Recurring financial charges | 65 | €7,995 | €9,078 | +€1,083 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €19,645 | €47,812 | +€28,167 | +143.4% |
| Income taxes | 67/77 | €5,353 | €12,762 | +€7,409 | +138.4% |
| Profit (loss) for the period | 9904 | €14,292 | €35,050 | +€20,758 | +145.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,292 | €35,050 | +€20,758 | +145.2% |
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 8 October 2026 via checked.be.