PHINIRA: 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.
PHINIRA
Largest movements
- Current investments -€49,632
down €49,632 (-36.2%), from €137,122 to €87,491
- Tangible fixed assets +€19,187
new in 2025: €19,187
- Profit (loss) carried forward -€111,551
down €111,551 (-81.0%), from €137,773 to €26,222
- Debts after one year +€78,440
up €78,440 (+216.4%), from €36,242 to €114,682
- Gross operating margin +€20,796
up €20,796 (+230.8%), from €9,012 to €29,808
- Depreciation +€3,368
new in 2025: €3,368
- Financial income -€319
down €319 (-37.7%), from €845 to €526
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 | €195,436 | €163,382 | -€32,054 | -16.4% |
| Fixed assets | 21/28 | €54,000 | €73,187 | +€19,187 | +35.5% |
| Tangible fixed assets | 22/27 | - | €19,187 | +€19,187 | |
| Furniture and vehicles | 24 | - | €19,187 | +€19,187 | |
| Financial fixed assets | 28 | €54,000 | €54,000 | = | 0.0% |
| Current assets | 29/58 | €141,436 | €90,195 | -€51,241 | -36.2% |
| Current investments | 50/53 | €137,122 | €87,491 | -€49,632 | -36.2% |
| Cash at bank and in hand | 54/58 | €2,472 | €838 | -€1,634 | -66.1% |
| Deferred charges and accrued income | 490/1 | €1,841 | €1,865 | +€24 | +1.3% |
| Total equity and liabilities | 10/49 | €195,436 | €163,382 | -€32,054 | -16.4% |
| Equity | 10/15 | €156,373 | €44,822 | -€111,551 | -71.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,773 | €26,222 | -€111,551 | -81.0% |
| Amounts payable | 17/49 | €39,063 | €118,560 | +€79,497 | +203.5% |
| Amounts payable after more than one year | 17 | €36,242 | €114,682 | +€78,440 | +216.4% |
| Other amounts payable | 178/9 | €36,242 | €114,682 | +€78,440 | +216.4% |
| Amounts payable within one year | 42/48 | €2,821 | €3,878 | +€1,058 | +37.5% |
| Trade debts | 44 | €2,342 | €2,730 | +€387 | +16.5% |
| Suppliers | 440/4 | €2,342 | €2,730 | +€387 | +16.5% |
| Taxes, remuneration and social security | 45 | €478 | €1,149 | +€670 | +140.1% |
| Taxes | 450/3 | €478 | €1,149 | +€670 | +140.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,368 | +€3,368 | |
| Other operating charges | 640/8 | €511 | €512 | +€1 | +0.1% |
| Gross operating margin | 9900 | €9,012 | €29,808 | +€20,796 | +230.8% |
| Operating profit (loss) | 9901 | €8,501 | €25,928 | +€17,427 | +205.0% |
| Financial income | 75/76B | €845 | €526 | -€319 | -37.7% |
| Recurring financial income | 75 | €845 | €526 | -€319 | -37.7% |
| Financial charges | 65/66B | €79 | €74 | -€5 | -6.3% |
| Recurring financial charges | 65 | €79 | €74 | -€5 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €9,267 | €26,380 | +€17,113 | +184.7% |
| Income taxes | 67/77 | €429 | €158 | -€271 | -63.2% |
| Profit (loss) for the period | 9904 | €8,838 | €26,222 | +€17,385 | +196.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,838 | €26,222 | +€17,385 | +196.7% |
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 7 October 2026 via checked.be.