PHL CONCEPT: 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.
PHL CONCEPT
Largest movements
- Receivables within one year +€85,080
up €85,080 (+724%), from €11,753 to €96,833
of which Other amounts receivable: +€65,077
- Financial fixed assets -€20,400
down €20,400 (-99.4%), from €20,525 to €125
- Tangible fixed assets -€17,923
down €17,923 (-11.2%), from €159,675 to €141,752
of which Land and buildings: -€32,741
- Cash -€14,145
down €14,145 (-75.0%), from €18,863 to €4,718
mainly Receivables within one year (-€85,080) and Debts after one year (-€24,461)
- Stocks and contracts -€10,882
down €10,882 (-46.7%), from €23,322 to €12,440
- Profit (loss) carried forward +€28,945
up €28,945 (+71.9%), from €40,255 to €69,200
- Debts after one year -€24,461
down €24,461 (-16.1%), from €152,220 to €127,759
- Current portion of long-term debt +€19,572
up €19,572 (+58.4%), from €33,510 to €53,082
- Other debts -€7,270
down €7,270 (-95.3%), from €7,632 to €362
- Trade debts -€3,789
down €3,789 (-15.2%), from €24,920 to €21,131
- Staff costs -€16,319
down €16,319 (-20.8%), from €78,392 to €62,073
- Depreciation +€8,899
up €8,899 (+117%), from €7,612 to €16,512
- Other operating charges +€3,571
up €3,571 (+70.2%), from €5,091 to €8,662
- Gross operating margin -€2,572
down €2,572 (-1.8%), from €139,204 to €136,632
- Taxes +€2,475
up €2,475 (+41.8%), from €5,926 to €8,401
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 | €283,892 | €295,621 | +€11,729 | +4.1% |
| Fixed assets | 21/28 | €229,954 | €181,631 | -€48,323 | -21.0% |
| Intangible fixed assets | 21 | €49,754 | €39,754 | -€10,000 | -20.1% |
| Tangible fixed assets | 22/27 | €159,675 | €141,752 | -€17,923 | -11.2% |
| Land and buildings | 22 | €155,155 | €122,414 | -€32,741 | -21.1% |
| Plant, machinery and equipment | 23 | €3,496 | €2,116 | -€1,381 | -39.5% |
| Furniture and vehicles | 24 | €1,024 | €17,223 | +€16,199 | +1,582% |
| Financial fixed assets | 28 | €20,525 | €125 | -€20,400 | -99.4% |
| Current assets | 29/58 | €53,938 | €113,990 | +€60,053 | +111% |
| Stocks and contracts in progress | 3 | €23,322 | €12,440 | -€10,882 | -46.7% |
| Stocks | 30/36 | €23,322 | €12,440 | -€10,882 | -46.7% |
| Amounts receivable within one year | 40/41 | €11,753 | €96,833 | +€85,080 | +724% |
| Trade receivables | 40 | €1,042 | €21,044 | +€20,003 | +1,920% |
| Other amounts receivable | 41 | €10,711 | €75,788 | +€65,077 | +608% |
| Cash at bank and in hand | 54/58 | €18,863 | €4,718 | -€14,145 | -75.0% |
| Total equity and liabilities | 10/49 | €283,892 | €295,621 | +€11,729 | +4.1% |
| Equity | 10/15 | €48,315 | €77,260 | +€28,945 | +59.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,255 | €69,200 | +€28,945 | +71.9% |
| Amounts payable | 17/49 | €235,577 | €218,361 | -€17,216 | -7.3% |
| Amounts payable after more than one year | 17 | €152,220 | €127,759 | -€24,461 | -16.1% |
| Financial debts | 170/4 | €152,220 | €127,759 | -€24,461 | -16.1% |
| Amounts payable within one year | 42/48 | €83,357 | €90,602 | +€7,245 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €33,510 | €53,082 | +€19,572 | +58.4% |
| Trade debts | 44 | €24,920 | €21,131 | -€3,789 | -15.2% |
| Suppliers | 440/4 | €24,920 | €21,131 | -€3,789 | -15.2% |
| Advances received on contracts in progress | 46 | - | €1,100 | +€1,100 | |
| Taxes, remuneration and social security | 45 | €17,295 | €14,927 | -€2,368 | -13.7% |
| Taxes | 450/3 | €11,544 | €7,095 | -€4,449 | -38.5% |
| Remuneration and social security | 454/9 | €5,751 | €7,832 | +€2,081 | +36.2% |
| Other amounts payable | 47/48 | €7,632 | €362 | -€7,270 | -95.3% |
| Remuneration, social security and pensions | 62 | €78,392 | €62,073 | -€16,319 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,612 | €16,512 | +€8,899 | +117% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,300 | +€2,300 | |
| Other operating charges | 640/8 | €5,091 | €8,662 | +€3,571 | +70.2% |
| Non-recurring operating charges | 66A | €10,089 | - | -€10,089 | |
| Gross operating margin | 9900 | €139,204 | €136,632 | -€2,572 | -1.8% |
| Operating profit (loss) | 9901 | €38,021 | €47,085 | +€9,064 | +23.8% |
| Financial income | 75/76B | €6 | €452 | +€445 | +6,926% |
| Recurring financial income | 75 | €6 | €452 | +€445 | +6,926% |
| Financial charges | 65/66B | €10,356 | €10,190 | -€166 | -1.6% |
| Recurring financial charges | 65 | €10,356 | €10,190 | -€166 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €27,671 | €37,346 | +€9,676 | +35.0% |
| Income taxes | 67/77 | €5,926 | €8,401 | +€2,475 | +41.8% |
| Profit (loss) for the period | 9904 | €21,745 | €28,945 | +€7,201 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,745 | €28,945 | +€7,201 | +33.1% |
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 20 October 2026 via checked.be.