PHISO: 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.
PHISO
Largest movements
- Cash +€44,144
up €44,144 (+29.8%), from €148,319 to €192,464
mainly Net result for the year (+€44,954) and Tax, wage and social debts (+€2,381)
- Reserves +€44,954
up €44,954 (+37.8%), from €119,027 to €163,980
of which Distributable reserves: +€44,954
- Accrued charges and deferred income -€3,358
down €3,358 (-61.8%), from €5,437 to €2,079
- Trade debts -€2,973
down €2,973 (-37.8%), from €7,858 to €4,885
- Tax, wage and social debts +€2,381
up €2,381 (+41.6%), from €5,726 to €8,107
of which Taxes: +€2,381
- Gross operating margin +€11,594
up €11,594 (+20.2%), from €57,356 to €68,950
- Taxes +€3,128
up €3,128 (+22.2%), from €14,092 to €17,220
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 | €185,184 | €228,066 | +€42,882 | +23.2% |
| Current assets | 29/58 | €185,184 | €228,066 | +€42,882 | +23.2% |
| Amounts receivable within one year | 40/41 | €26,062 | €26,671 | +€608 | +2.3% |
| Trade receivables | 40 | €25,614 | €26,253 | +€640 | +2.5% |
| Other amounts receivable | 41 | €448 | €417 | -€31 | -7.0% |
| Cash at bank and in hand | 54/58 | €148,319 | €192,464 | +€44,144 | +29.8% |
| Deferred charges and accrued income | 490/1 | €10,802 | €8,931 | -€1,871 | -17.3% |
| Total equity and liabilities | 10/49 | €185,184 | €228,066 | +€42,882 | +23.2% |
| Equity | 10/15 | €137,619 | €182,572 | +€44,954 | +32.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €119,027 | €163,980 | +€44,954 | +37.8% |
| Tax-exempt reserves | 132 | €27,000 | €27,000 | = | 0.0% |
| Distributable reserves | 133 | €92,027 | €136,980 | +€44,954 | +48.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €47,565 | €45,493 | -€2,071 | -4.4% |
| Amounts payable within one year | 42/48 | €42,128 | €43,414 | +€1,286 | +3.1% |
| Financial debts | 43 | €117 | €106 | -€11 | -9.6% |
| Credit institutions | 430/8 | €117 | €106 | -€11 | -9.6% |
| Trade debts | 44 | €7,858 | €4,885 | -€2,973 | -37.8% |
| Suppliers | 440/4 | €7,858 | €4,885 | -€2,973 | -37.8% |
| Taxes, remuneration and social security | 45 | €5,726 | €8,107 | +€2,381 | +41.6% |
| Taxes | 450/3 | €2,851 | €5,232 | +€2,381 | +83.5% |
| Remuneration and social security | 454/9 | €2,875 | €2,875 | = | 0.0% |
| Other amounts payable | 47/48 | €28,426 | €30,316 | +€1,889 | +6.6% |
| Accrued charges and deferred income | 492/3 | €5,437 | €2,079 | -€3,358 | -61.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €4,165 | €4,339 | +€174 | +4.2% |
| Gross operating margin | 9900 | €57,356 | €68,950 | +€11,594 | +20.2% |
| Operating profit (loss) | 9901 | €53,190 | €64,611 | +€11,421 | +21.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | +50.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +50.0% |
| Financial charges | 65/66B | €2,695 | €2,437 | -€258 | -9.6% |
| Recurring financial charges | 65 | €2,695 | €2,437 | -€258 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €50,495 | €62,174 | +€11,679 | +23.1% |
| Income taxes | 67/77 | €14,092 | €17,220 | +€3,128 | +22.2% |
| Profit (loss) for the period | 9904 | €36,403 | €44,954 | +€8,550 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,403 | €44,954 | +€8,550 | +23.5% |
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.