PHIREMA: 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.
PHIREMA
Largest movements
- Cash -€75,395
down €75,395 (-29.2%), from €257,923 to €182,527
mainly Contributions, distributions and other (-€480,000)
- Financial fixed assets -€69,689
down €69,689 (-89.7%), from €77,689 to €8,000
- Tangible fixed assets +€31,173
up €31,173 (+156.0%), from €19,978 to €51,152
of which Other tangible fixed assets: +€17,273
- Receivables within one year -€23,176
no longer reported in 2025 (was €23,176)
- Profit (loss) carried forward -€316,077
down €316,077 (-90.3%), from €349,845 to €33,768
- Other debts +€172,000
new in 2025: €172,000
- Tax, wage and social debts +€6,990
up €6,990 (+105.9%), from €6,600 to €13,591
- Gross operating margin -€85,898
down €85,898 (-26.5%), from €323,578 to €237,680
- Taxes -€15,679
down €15,679 (-18.8%), from €83,267 to €67,587
- Financial income +€10,896
new in 2025: €10,896
- Depreciation -€9,529
down €9,529 (-37.3%), from €25,571 to €16,042
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 | €378,766 | €241,679 | -€137,087 | -36.2% |
| Fixed assets | 21/28 | €97,667 | €59,152 | -€38,516 | -39.4% |
| Tangible fixed assets | 22/27 | €19,978 | €51,152 | +€31,173 | +156.0% |
| Furniture and vehicles | 24 | €12,664 | €26,565 | +€13,901 | +109.8% |
| Other tangible fixed assets | 26 | €7,314 | €24,587 | +€17,273 | +236.2% |
| Financial fixed assets | 28 | €77,689 | €8,000 | -€69,689 | -89.7% |
| Current assets | 29/58 | €281,098 | €182,527 | -€98,571 | -35.1% |
| Amounts receivable within one year | 40/41 | €23,176 | - | -€23,176 | |
| Trade receivables | 40 | €23,176 | - | -€23,176 | |
| Cash at bank and in hand | 54/58 | €257,923 | €182,527 | -€75,395 | -29.2% |
| Total equity and liabilities | 10/49 | €378,766 | €241,679 | -€137,087 | -36.2% |
| Equity | 10/15 | €372,165 | €56,088 | -€316,077 | -84.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,720 | €3,720 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,720 | €3,720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,720 | €3,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | €349,845 | €33,768 | -€316,077 | -90.3% |
| Amounts payable | 17/49 | €6,600 | €185,591 | +€178,990 | +2711.8% |
| Amounts payable within one year | 42/48 | €6,600 | €185,591 | +€178,990 | +2711.8% |
| Taxes, remuneration and social security | 45 | €6,600 | €13,591 | +€6,990 | +105.9% |
| Taxes | 450/3 | €6,600 | €13,591 | +€6,990 | +105.9% |
| Other amounts payable | 47/48 | - | €172,000 | +€172,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,571 | €16,042 | -€9,529 | -37.3% |
| Gross operating margin | 9900 | €323,578 | €237,680 | -€85,898 | -26.5% |
| Operating profit (loss) | 9901 | €298,007 | €221,638 | -€76,369 | -25.6% |
| Financial income | 75/76B | - | €10,896 | +€10,896 | |
| Recurring financial income | 75 | - | €10,896 | +€10,896 | |
| Financial charges | 65/66B | €1,350 | €1,024 | -€325 | -24.1% |
| Recurring financial charges | 65 | €1,350 | €1,024 | -€325 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €296,657 | €231,510 | -€65,147 | -22.0% |
| Income taxes | 67/77 | €83,267 | €67,587 | -€15,679 | -18.8% |
| Profit (loss) for the period | 9904 | €213,391 | €163,923 | -€49,468 | -23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €213,391 | €163,923 | -€49,468 | -23.2% |
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.