PHIN: 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.
PHIN
Largest movements
- Cash +€49,420
up €49,420 (+129%), from €38,183 to €87,602
mainly Net result for the year (+€43,580) and Depreciation (+€16,939)
- Tangible fixed assets -€10,577
down €10,577 (-6.5%), from €163,029 to €152,452
of which Land and buildings: -€8,654
- Reserves +€43,580
up €43,580 (+20.8%), from €209,157 to €252,737
of which Distributable reserves: +€43,580
- Tax, wage and social debts +€9,826
up €9,826 (+138%), from €7,128 to €16,954
- Debts after one year -€7,850
down €7,850 (-7.6%), from €103,173 to €95,322
- Gross operating margin +€25,729
up €25,729 (+42.7%), from €60,285 to €86,014
- Taxes +€6,247
up €6,247 (+54.6%), from €11,439 to €17,686
- Depreciation +€5,340
up €5,340 (+46.0%), from €11,599 to €16,939
- Financial charges -€872
down €872 (-26.2%), from €3,332 to €2,461
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 | €335,951 | €379,704 | +€43,753 | +13.0% |
| Fixed assets | 21/28 | €166,029 | €155,452 | -€10,577 | -6.4% |
| Tangible fixed assets | 22/27 | €163,029 | €152,452 | -€10,577 | -6.5% |
| Land and buildings | 22 | €125,599 | €116,945 | -€8,654 | -6.9% |
| Plant, machinery and equipment | 23 | €73 | €0 | -€73 | -100% |
| Furniture and vehicles | 24 | €30,739 | €25,478 | -€5,261 | -17.1% |
| Other tangible fixed assets | 26 | €6,617 | €10,029 | +€3,412 | +51.6% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €169,922 | €224,252 | +€54,329 | +32.0% |
| Amounts receivable within one year | 40/41 | €122,592 | €125,485 | +€2,893 | +2.4% |
| Trade receivables | 40 | €22,420 | €8,548 | -€13,872 | -61.9% |
| Other amounts receivable | 41 | €100,172 | €116,937 | +€16,765 | +16.7% |
| Cash at bank and in hand | 54/58 | €38,183 | €87,602 | +€49,420 | +129% |
| Deferred charges and accrued income | 490/1 | €9,147 | €11,164 | +€2,017 | +22.0% |
| Total equity and liabilities | 10/49 | €335,951 | €379,704 | +€43,753 | +13.0% |
| Equity | 10/15 | €215,413 | €258,994 | +€43,580 | +20.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €209,157 | €252,737 | +€43,580 | +20.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €209,157 | €252,737 | +€43,580 | +20.8% |
| Profit (loss) carried forward | 14 | €56 | €57 | +€0 | +0.7% |
| Amounts payable | 17/49 | €120,538 | €120,710 | +€172 | +0.1% |
| Amounts payable after more than one year | 17 | €103,173 | €95,322 | -€7,850 | -7.6% |
| Financial debts | 170/4 | €103,173 | €95,322 | -€7,850 | -7.6% |
| Amounts payable within one year | 42/48 | €17,365 | €25,388 | +€8,023 | +46.2% |
| Current portion of amounts payable after more than one year | 42 | €7,703 | €7,850 | +€148 | +1.9% |
| Trade debts | 44 | €2,534 | €583 | -€1,951 | -77.0% |
| Suppliers | 440/4 | €2,534 | €583 | -€1,951 | -77.0% |
| Taxes, remuneration and social security | 45 | €7,128 | €16,954 | +€9,826 | +138% |
| Taxes | 450/3 | €7,128 | €16,954 | +€9,826 | +138% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,599 | €16,939 | +€5,340 | +46.0% |
| Other operating charges | 640/8 | €7,258 | €7,901 | +€643 | +8.9% |
| Gross operating margin | 9900 | €60,285 | €86,014 | +€25,729 | +42.7% |
| Operating profit (loss) | 9901 | €41,428 | €61,174 | +€19,746 | +47.7% |
| Financial income | 75/76B | €2,000 | €2,553 | +€553 | +27.7% |
| Recurring financial income | 75 | €2,000 | €2,553 | +€553 | +27.7% |
| Financial charges | 65/66B | €3,332 | €2,461 | -€872 | -26.2% |
| Recurring financial charges | 65 | €3,332 | €2,461 | -€872 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €40,095 | €61,267 | +€21,171 | +52.8% |
| Income taxes | 67/77 | €11,439 | €17,686 | +€6,247 | +54.6% |
| Profit (loss) for the period | 9904 | €28,656 | €43,580 | +€14,924 | +52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,656 | €43,580 | +€14,924 | +52.1% |
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 24 October 2026 via checked.be.