PHISTELLE: 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.
PHISTELLE
Largest movements
- Tangible fixed assets -€65,098
down €65,098 (-16.7%), from €389,321 to €324,223
of which Plant, machinery and equipment: -€45,053
- Current investments +€57,051
up €57,051 (+37.4%), from €152,407 to €209,459
- Cash +€10,121
up €10,121 (+10.6%), from €95,385 to €105,506
mainly Depreciation (+€70,919) and Net result for the year (+€14,787)
- Reserves +€13,121
up €13,121 (+2.8%), from €474,959 to €488,080
- Debts after one year -€7,500
down €7,500 (-36.4%), from €20,625 to €13,125
- Gross operating margin -€11,753
down €11,753 (-9.6%), from €122,347 to €110,595
- Staff costs -€3,315
down €3,315 (-76.9%), from €4,310 to €995
- Depreciation -€2,567
down €2,567 (-3.5%), from €73,487 to €70,919
- Financial charges -€1,551
down €1,551 (-12.3%), from €12,655 to €11,104
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 | €656,634 | €660,557 | +€3,923 | +0.6% |
| Fixed assets | 21/28 | €389,321 | €324,223 | -€65,098 | -16.7% |
| Tangible fixed assets | 22/27 | €389,321 | €324,223 | -€65,098 | -16.7% |
| Land and buildings | 22 | €79,899 | €61,354 | -€18,546 | -23.2% |
| Plant, machinery and equipment | 23 | €296,192 | €251,139 | -€45,053 | -15.2% |
| Furniture and vehicles | 24 | €13,230 | €11,731 | -€1,499 | -11.3% |
| Current assets | 29/58 | €267,313 | €336,334 | +€69,021 | +25.8% |
| Stocks and contracts in progress | 3 | €9,031 | €9,897 | +€866 | +9.6% |
| Stocks | 30/36 | €9,031 | €9,897 | +€866 | +9.6% |
| Amounts receivable within one year | 40/41 | €4,355 | €5,370 | +€1,015 | +23.3% |
| Trade receivables | 40 | €41 | €874 | +€833 | +2028.3% |
| Other amounts receivable | 41 | €4,314 | €4,496 | +€182 | +4.2% |
| Current investments | 50/53 | €152,407 | €209,459 | +€57,051 | +37.4% |
| Cash at bank and in hand | 54/58 | €95,385 | €105,506 | +€10,121 | +10.6% |
| Deferred charges and accrued income | 490/1 | €6,135 | €6,103 | -€33 | -0.5% |
| Total equity and liabilities | 10/49 | €656,634 | €660,557 | +€3,923 | +0.6% |
| Equity | 10/15 | €493,559 | €506,680 | +€13,121 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €474,959 | €488,080 | +€13,121 | +2.8% |
| Distributable reserves | 133 | €474,959 | €488,080 | +€13,121 | +2.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €163,075 | €153,877 | -€9,198 | -5.6% |
| Amounts payable after more than one year | 17 | €20,625 | €13,125 | -€7,500 | -36.4% |
| Financial debts | 170/4 | €20,625 | €13,125 | -€7,500 | -36.4% |
| Amounts payable within one year | 42/48 | €133,666 | €133,414 | -€252 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €7,500 | €7,500 | = | 0.0% |
| Trade debts | 44 | €15,566 | €17,801 | +€2,235 | +14.4% |
| Suppliers | 440/4 | €15,566 | €17,801 | +€2,235 | +14.4% |
| Taxes, remuneration and social security | 45 | €3,715 | €4,317 | +€603 | +16.2% |
| Taxes | 450/3 | €3,715 | €4,317 | +€603 | +16.2% |
| Other amounts payable | 47/48 | €106,885 | €103,795 | -€3,089 | -2.9% |
| Accrued charges and deferred income | 492/3 | €8,785 | €7,338 | -€1,446 | -16.5% |
| Remuneration, social security and pensions | 62 | €4,310 | €995 | -€3,315 | -76.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,487 | €70,919 | -€2,567 | -3.5% |
| Other operating charges | 640/8 | €10,634 | €10,261 | -€373 | -3.5% |
| Gross operating margin | 9900 | €122,347 | €110,595 | -€11,753 | -9.6% |
| Operating profit (loss) | 9901 | €33,917 | €28,419 | -€5,498 | -16.2% |
| Financial income | 75/76B | €2,300 | €3,033 | +€733 | +31.9% |
| Recurring financial income | 75 | €2,300 | €3,033 | +€733 | +31.9% |
| Financial charges | 65/66B | €12,655 | €11,104 | -€1,551 | -12.3% |
| Recurring financial charges | 65 | €12,655 | €11,104 | -€1,551 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €23,561 | €20,348 | -€3,213 | -13.6% |
| Income taxes | 67/77 | €6,499 | €5,561 | -€939 | -14.4% |
| Profit (loss) for the period | 9904 | €17,062 | €14,787 | -€2,274 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,062 | €14,787 | -€2,274 | -13.3% |
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 10 October 2026 via checked.be.