PHJ CONSTRUCT: 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.
PHJ CONSTRUCT
Largest movements
- Cash +€11,298
up €11,298 (+29.4%), from €38,381 to €49,679
mainly Net result for the year (+€19,921) and Depreciation (+€10,596)
- Tangible fixed assets -€10,596
down €10,596 (-37.2%), from €28,466 to €17,870
of which Furniture and vehicles: -€9,606
- Receivables within one year +€9,991
up €9,991 (+24.1%), from €41,421 to €51,412
of which Trade receivables: +€6,361
- Deferred charges and accrued income -€1,400
down €1,400 (-92.5%), from €1,514 to €114
- Profit (loss) carried forward +€19,921
up €19,921 (+31.6%), from €63,018 to €82,939
- Debts after one year -€7,930
no longer reported in 2025 (was €7,930)
- Tax, wage and social debts -€3,435
down €3,435 (-20.1%), from €17,128 to €13,693
of which Taxes: -€4,480
- Gross operating margin +€8,189
up €8,189 (+23.8%), from €34,465 to €42,655
- Taxes +€1,755
up €1,755 (+25.7%), from €6,832 to €8,588
- Depreciation -€533
down €533 (-4.8%), from €11,129 to €10,596
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 | €114,192 | €123,485 | +€9,293 | +8.1% |
| Fixed assets | 21/28 | €28,466 | €17,870 | -€10,596 | -37.2% |
| Tangible fixed assets | 22/27 | €28,466 | €17,870 | -€10,596 | -37.2% |
| Land and buildings | 22 | €1,655 | €664 | -€990 | -59.8% |
| Furniture and vehicles | 24 | €26,811 | €17,206 | -€9,606 | -35.8% |
| Current assets | 29/58 | €85,726 | €105,615 | +€19,889 | +23.2% |
| Amounts receivable within one year | 40/41 | €41,421 | €51,412 | +€9,991 | +24.1% |
| Trade receivables | 40 | €37,024 | €43,386 | +€6,361 | +17.2% |
| Other amounts receivable | 41 | €4,397 | €8,027 | +€3,630 | +82.6% |
| Current investments | 50/53 | €4,410 | €4,410 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,381 | €49,679 | +€11,298 | +29.4% |
| Deferred charges and accrued income | 490/1 | €1,514 | €114 | -€1,400 | -92.5% |
| Total equity and liabilities | 10/49 | €114,192 | €123,485 | +€9,293 | +8.1% |
| Equity | 10/15 | €77,278 | €97,199 | +€19,921 | +25.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,018 | €82,939 | +€19,921 | +31.6% |
| Amounts payable | 17/49 | €36,914 | €26,286 | -€10,628 | -28.8% |
| Amounts payable after more than one year | 17 | €7,930 | - | -€7,930 | |
| Financial debts | 170/4 | €7,930 | - | -€7,930 | |
| Amounts payable within one year | 42/48 | €28,984 | €26,286 | -€2,698 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €7,636 | €7,930 | +€294 | +3.8% |
| Trade debts | 44 | €4,220 | €4,663 | +€443 | +10.5% |
| Suppliers | 440/4 | €4,220 | €4,663 | +€443 | +10.5% |
| Taxes, remuneration and social security | 45 | €17,128 | €13,693 | -€3,435 | -20.1% |
| Taxes | 450/3 | €14,974 | €10,494 | -€4,480 | -29.9% |
| Remuneration and social security | 454/9 | €2,154 | €3,199 | +€1,045 | +48.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,129 | €10,596 | -€533 | -4.8% |
| Other operating charges | 640/8 | €2,264 | €2,586 | +€322 | +14.2% |
| Gross operating margin | 9900 | €34,465 | €42,655 | +€8,189 | +23.8% |
| Operating profit (loss) | 9901 | €21,072 | €29,472 | +€8,400 | +39.9% |
| Financial income | 75/76B | €295 | €191 | -€104 | -35.3% |
| Recurring financial income | 75 | €295 | €191 | -€104 | -35.3% |
| Financial charges | 65/66B | €1,223 | €1,155 | -€68 | -5.6% |
| Recurring financial charges | 65 | €1,223 | €1,155 | -€68 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €20,144 | €28,508 | +€8,364 | +41.5% |
| Income taxes | 67/77 | €6,832 | €8,588 | +€1,755 | +25.7% |
| Profit (loss) for the period | 9904 | €13,312 | €19,921 | +€6,609 | +49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,312 | €19,921 | +€6,609 | +49.6% |
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 12 October 2026 via checked.be.