PHINIBEL: 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.
PHINIBEL
Largest movements
- Receivables within one year +€70,893
up €70,893 (+156%), from €45,381 to €116,274
- Tangible fixed assets -€18,098
down €18,098 (-2.7%), from €671,328 to €653,230
of which Land and buildings: -€19,492
- Other debts +€49,937
up €49,937 (+20.5%), from €243,151 to €293,088
- Provisions +€40,512
up €40,512, from €0 to €40,512
of which Provisions for liabilities and charges: +€40,512
- Debts after one year -€33,194
down €33,194 (-9.7%), from €343,037 to €309,843
- Provisions +€40,512
new in 2025: €40,512
- Taxes -€12,614
down €12,614 (-63.3%), from €19,929 to €7,315
- Gross operating margin -€8,666
down €8,666 (-8.6%), from €100,773 to €92,107
- Financial charges +€2,200
up €2,200 (+14.9%), from €14,772 to €16,972
- Other operating charges +€1,232
up €1,232 (+17.9%), from €6,875 to €8,107
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 | €1,083,894 | €1,138,877 | +€54,983 | +5.1% |
| Fixed assets | 21/28 | €1,015,328 | €997,230 | -€18,098 | -1.8% |
| Tangible fixed assets | 22/27 | €671,328 | €653,230 | -€18,098 | -2.7% |
| Land and buildings | 22 | €670,950 | €651,458 | -€19,492 | -2.9% |
| Furniture and vehicles | 24 | €378 | €1,772 | +€1,394 | +369% |
| Financial fixed assets | 28 | €344,000 | €344,000 | = | 0.0% |
| Current assets | 29/58 | €68,566 | €141,647 | +€73,081 | +107% |
| Amounts receivable within one year | 40/41 | €45,381 | €116,274 | +€70,893 | +156% |
| Other amounts receivable | 41 | €45,381 | €116,274 | +€70,893 | +156% |
| Cash at bank and in hand | 54/58 | €11,641 | €8,050 | -€3,591 | -30.9% |
| Deferred charges and accrued income | 490/1 | €11,544 | €17,323 | +€5,779 | +50.1% |
| Total equity and liabilities | 10/49 | €1,083,894 | €1,138,877 | +€54,983 | +5.1% |
| Equity | 10/15 | €137,465 | €142,616 | +€5,151 | +3.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,405 | €134,556 | +€5,151 | +4.0% |
| Provisions and deferred taxes | 16 | €0 | €40,512 | +€40,512 | |
| Provisions for liabilities and charges | 160/5 | - | €40,512 | +€40,512 | |
| Other liabilities and charges | 164/5 | - | €40,512 | +€40,512 | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €946,430 | €955,749 | +€9,320 | +1.0% |
| Amounts payable after more than one year | 17 | €343,037 | €309,843 | -€33,194 | -9.7% |
| Financial debts | 170/4 | €343,037 | €309,843 | -€33,194 | -9.7% |
| Amounts payable within one year | 42/48 | €603,393 | €645,907 | +€42,514 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €34,052 | €42,957 | +€8,904 | +26.1% |
| Trade debts | 44 | €285,001 | €275,690 | -€9,311 | -3.3% |
| Suppliers | 440/4 | €285,001 | €275,690 | -€9,311 | -3.3% |
| Taxes, remuneration and social security | 45 | €41,188 | €34,172 | -€7,016 | -17.0% |
| Taxes | 450/3 | €41,188 | €34,172 | -€7,016 | -17.0% |
| Other amounts payable | 47/48 | €243,151 | €293,088 | +€49,937 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,715 | €19,831 | +€116 | +0.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €40,512 | +€40,512 | |
| Other operating charges | 640/8 | €6,875 | €8,107 | +€1,232 | +17.9% |
| Gross operating margin | 9900 | €100,773 | €92,107 | -€8,666 | -8.6% |
| Operating profit (loss) | 9901 | €74,183 | €23,657 | -€50,526 | -68.1% |
| Financial income | 75/76B | €4,842 | €5,781 | +€939 | +19.4% |
| Recurring financial income | 75 | €4,842 | €5,781 | +€939 | +19.4% |
| Financial charges | 65/66B | €14,772 | €16,972 | +€2,200 | +14.9% |
| Recurring financial charges | 65 | €14,772 | €16,972 | +€2,200 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | €64,253 | €12,466 | -€51,787 | -80.6% |
| Income taxes | 67/77 | €19,929 | €7,315 | -€12,614 | -63.3% |
| Profit (loss) for the period | 9904 | €44,324 | €5,151 | -€39,173 | -88.4% |
| Profit (loss) for the period to be appropriated | 9905 | €44,324 | €5,151 | -€39,173 | -88.4% |
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 17 October 2026 via checked.be.