PHIVEST: 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.
PHIVEST
Largest movements
- Cash +€38,693
up €38,693 (+1758.1%), from €2,201 to €40,894
mainly Net result for the year (+€17,185) and Depreciation (+€16,834)
- Tangible fixed assets -€31,582
down €31,582 (-8.0%), from €393,276 to €361,695
of which Land and buildings: -€31,418
- Reserves +€17,185
up €17,185 (+6.6%), from €260,644 to €277,829
- Other debts -€11,816
down €11,816 (-9.1%), from €129,230 to €117,415
- Gross operating margin +€45,856
up €45,856, from -€7,265 to €38,591
- Other operating charges -€11,562
down €11,562 (-80.7%), from €14,322 to €2,760
- Depreciation +€1,954
up €1,954 (+13.1%), from €14,880 to €16,834
- Taxes +€1,718
new in 2025: €1,718
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 | €396,931 | €404,106 | +€7,175 | +1.8% |
| Fixed assets | 21/28 | €393,276 | €361,695 | -€31,582 | -8.0% |
| Tangible fixed assets | 22/27 | €393,276 | €361,695 | -€31,582 | -8.0% |
| Land and buildings | 22 | €391,946 | €360,528 | -€31,418 | -8.0% |
| Plant, machinery and equipment | 23 | €1,330 | €1,167 | -€163 | -12.3% |
| Current assets | 29/58 | €3,654 | €42,411 | +€38,757 | +1060.6% |
| Cash at bank and in hand | 54/58 | €2,201 | €40,894 | +€38,693 | +1758.1% |
| Deferred charges and accrued income | 490/1 | €1,453 | €1,517 | +€64 | +4.4% |
| Total equity and liabilities | 10/49 | €396,931 | €404,106 | +€7,175 | +1.8% |
| Equity | 10/15 | €266,844 | €284,029 | +€17,185 | +6.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €260,644 | €277,829 | +€17,185 | +6.6% |
| Distributable reserves | 133 | €260,644 | €277,829 | +€17,185 | +6.6% |
| Amounts payable | 17/49 | €130,086 | €120,077 | -€10,009 | -7.7% |
| Amounts payable within one year | 42/48 | €130,086 | €120,077 | -€10,009 | -7.7% |
| Trade debts | 44 | €856 | €944 | +€88 | +10.3% |
| Suppliers | 440/4 | €856 | €944 | +€88 | +10.3% |
| Taxes, remuneration and social security | 45 | - | €1,718 | +€1,718 | |
| Taxes | 450/3 | - | €1,718 | +€1,718 | |
| Other amounts payable | 47/48 | €129,230 | €117,415 | -€11,816 | -9.1% |
| Non-recurring operating income | 76A | - | €18,901 | +€18,901 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,880 | €16,834 | +€1,954 | +13.1% |
| Other operating charges | 640/8 | €14,322 | €2,760 | -€11,562 | -80.7% |
| Gross operating margin | 9900 | -€7,265 | €38,591 | +€45,856 | |
| Operating profit (loss) | 9901 | -€36,467 | €18,997 | +€55,464 | |
| Financial income | 75/76B | €17 | €90 | +€74 | +438.4% |
| Recurring financial income | 75 | €17 | €90 | +€74 | +438.4% |
| Financial charges | 65/66B | €181 | €185 | +€4 | +2.2% |
| Recurring financial charges | 65 | €181 | €185 | +€4 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | -€36,631 | €18,903 | +€55,534 | |
| Income taxes | 67/77 | - | €1,718 | +€1,718 | |
| Profit (loss) for the period | 9904 | -€36,631 | €17,185 | +€53,816 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,631 | €17,185 | +€53,816 |
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 9 October 2026 via checked.be.