Phivee-Invest: 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.
Phivee-Invest
Largest movements
- Receivables within one year -€90,569
down €90,569 (-40.5%), from €223,692 to €133,123
of which Trade receivables: -€89,499
- Tangible fixed assets -€39,262
down €39,262 (-1.4%), from €2.9m to €2.9m
of which Land and buildings: -€69,196
- Debts after one year -€146,507
down €146,507 (-10.6%), from €1.4m to €1.2m
- Other debts -€141,567
down €141,567 (-15.7%), from €902,216 to €760,649
- Reserves +€100,000
up €100,000 (+16.5%), from €605,000 to €705,000
- Trade debts +€45,252
up €45,252 (+413%), from €10,953 to €56,205
- Gross operating margin -€47,889
down €47,889 (-11.3%), from €422,968 to €375,078
- Other operating charges +€8,088
up €8,088 (+75.4%), from €10,729 to €18,817
- Depreciation +€4,396
up €4,396 (+3.3%), from €134,334 to €138,729
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 | €3,176,911 | €3,040,138 | -€136,773 | -4.3% |
| Fixed assets | 21/28 | €2,894,314 | €2,855,052 | -€39,262 | -1.4% |
| Tangible fixed assets | 22/27 | €2,894,314 | €2,855,052 | -€39,262 | -1.4% |
| Land and buildings | 22 | €2,858,270 | €2,789,074 | -€69,196 | -2.4% |
| Furniture and vehicles | 24 | €36,044 | €65,978 | +€29,934 | +83.1% |
| Current assets | 29/58 | €282,597 | €185,086 | -€97,511 | -34.5% |
| Amounts receivable within one year | 40/41 | €223,692 | €133,123 | -€90,569 | -40.5% |
| Trade receivables | 40 | €217,709 | €128,210 | -€89,499 | -41.1% |
| Other amounts receivable | 41 | €5,984 | €4,913 | -€1,071 | -17.9% |
| Cash at bank and in hand | 54/58 | €56,677 | €47,614 | -€9,063 | -16.0% |
| Deferred charges and accrued income | 490/1 | €2,228 | €4,349 | +€2,121 | +95.2% |
| Total equity and liabilities | 10/49 | €3,176,911 | €3,040,138 | -€136,773 | -4.3% |
| Equity | 10/15 | €705,351 | €810,090 | +€104,739 | +14.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €605,000 | €705,000 | +€100,000 | +16.5% |
| Distributable reserves | 133 | €605,000 | €705,000 | +€100,000 | +16.5% |
| Profit (loss) carried forward | 14 | €351 | €5,090 | +€4,739 | +1,351% |
| Amounts payable | 17/49 | €2,471,560 | €2,230,048 | -€241,512 | -9.8% |
| Amounts payable after more than one year | 17 | €1,382,751 | €1,236,244 | -€146,507 | -10.6% |
| Financial debts | 170/4 | €1,382,751 | €1,236,244 | -€146,507 | -10.6% |
| Amounts payable within one year | 42/48 | €1,088,809 | €993,804 | -€95,006 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €153,893 | €146,507 | -€7,387 | -4.8% |
| Trade debts | 44 | €10,953 | €56,205 | +€45,252 | +413% |
| Suppliers | 440/4 | €10,953 | €56,205 | +€45,252 | +413% |
| Taxes, remuneration and social security | 45 | €21,747 | €30,443 | +€8,697 | +40.0% |
| Taxes | 450/3 | €21,747 | €30,443 | +€8,697 | +40.0% |
| Other amounts payable | 47/48 | €902,216 | €760,649 | -€141,567 | -15.7% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,334 | €138,729 | +€4,396 | +3.3% |
| Other operating charges | 640/8 | €10,729 | €18,817 | +€8,088 | +75.4% |
| Gross operating margin | 9900 | €422,968 | €375,078 | -€47,889 | -11.3% |
| Operating profit (loss) | 9901 | €277,904 | €217,531 | -€60,373 | -21.7% |
| Financial income | 75/76B | €5 | €1 | -€4 | -74.2% |
| Recurring financial income | 75 | €5 | €1 | -€4 | -74.2% |
| Financial charges | 65/66B | €82,076 | €85,946 | +€3,870 | +4.7% |
| Recurring financial charges | 65 | €82,076 | €85,946 | +€3,870 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €195,833 | €131,587 | -€64,247 | -32.8% |
| Income taxes | 67/77 | €25,277 | €26,848 | +€1,571 | +6.2% |
| Profit (loss) for the period | 9904 | €170,557 | €104,739 | -€65,818 | -38.6% |
| Profit (loss) for the period to be appropriated | 9905 | €170,557 | €104,739 | -€65,818 | -38.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.