PHLIPPO GROUP: 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.
PHLIPPO GROUP
Largest movements
- Tangible fixed assets -€669,586
down €669,586 (-14.3%), from €4.7m to €4.0m
- Receivables within one year +€423,179
up €423,179 (+13.0%), from €3.2m to €3.7m
of which Other amounts receivable: +€422,995
- Financial fixed assets -€400,071
down €400,071 (-4.7%), from €8.5m to €8.1m
- Debts after one year -€899,450
down €899,450 (-24.5%), from €3.7m to €2.8m
- Profit (loss) carried forward +€340,578
up €340,578 (+37.5%), from -€908,479 to -€567,901
- Other debts -€216,465
down €216,465 (-4.8%), from €4.5m to €4.2m
- Financial charges -€5.8m
down €5.8m (-96.9%), from €5.9m to €182,487
of which Non-recurring financial charges: -€5.9m
- Financial income -€4.6m
down €4.6m (-94.0%), from €4.9m to €291,383
of which Financial income: -€2.9m
- Turnover +€583,412
up €583,412 (+188%), from €309,574 to €892,986
- Depreciation +€406,885
up €406,885 (+200%), from €203,443 to €610,328
- Taxes +€45,419
up €45,419, from -€1,600 to €43,819
of which Taxes: +€43,819
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 | €16,398,915 | €15,729,297 | -€669,618 | -4.1% |
| Fixed assets | 21/28 | €13,130,867 | €12,061,210 | -€1.1m | -8.1% |
| Tangible fixed assets | 22/27 | €4,679,183 | €4,009,596 | -€669,586 | -14.3% |
| Leasing and similar rights | 25 | €4,679,183 | €4,009,596 | -€669,586 | -14.3% |
| Financial fixed assets | 28 | €8,451,684 | €8,051,613 | -€400,071 | -4.7% |
| Affiliated companies | 280/1 | €8,451,684 | €8,051,613 | -€400,071 | -4.7% |
| Participating interests | 280 | €8,451,684 | €8,051,613 | -€400,071 | -4.7% |
| Current assets | 29/58 | €3,268,049 | €3,668,088 | +€400,039 | +12.2% |
| Amounts receivable within one year | 40/41 | €3,243,880 | €3,667,058 | +€423,179 | +13.0% |
| Trade receivables | 40 | €53 | €237 | +€184 | +343% |
| Other amounts receivable | 41 | €3,243,826 | €3,666,821 | +€422,995 | +13.0% |
| Cash at bank and in hand | 54/58 | €6,713 | €1,029 | -€5,684 | -84.7% |
| Deferred charges and accrued income | 490/1 | €17,456 | - | -€17,456 | |
| Total equity and liabilities | 10/49 | €16,398,915 | €15,729,297 | -€669,618 | -4.1% |
| Equity | 10/15 | €7,341,622 | €7,682,199 | +€340,578 | +4.6% |
| Contributions | 10/11 | €8,245,150 | €8,245,150 | = | 0.0% |
| Revaluation surpluses | 12 | - | €0 | = | |
| Reserves | 13 | €4,951 | €4,951 | = | 0.0% |
| Distributable reserves | 133 | €4,951 | €4,951 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€908,479 | -€567,901 | +€340,578 | +37.5% |
| Amounts payable | 17/49 | €9,057,293 | €8,047,098 | -€1.0m | -11.2% |
| Amounts payable after more than one year | 17 | €3,676,284 | €2,776,834 | -€899,450 | -24.5% |
| Financial debts | 170/4 | €3,676,284 | €2,776,834 | -€899,450 | -24.5% |
| Leasing and similar obligations | 172 | €3,676,284 | €2,776,834 | -€899,450 | -24.5% |
| Amounts payable within one year | 42/48 | €5,378,260 | €5,239,491 | -€138,769 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €910,875 | €948,769 | +€37,895 | +4.2% |
| Trade debts | 44 | €3,012 | - | -€3,012 | |
| Suppliers | 440/4 | €3,012 | - | -€3,012 | |
| Taxes, remuneration and social security | 45 | €1,005 | €43,819 | +€42,814 | +4,260% |
| Taxes | 450/3 | €0 | €43,819 | +€43,819 | |
| Remuneration and social security | 454/9 | €1,005 | - | -€1,005 | |
| Other amounts payable | 47/48 | €4,463,368 | €4,246,903 | -€216,465 | -4.8% |
| Accrued charges and deferred income | 492/3 | €2,750 | €30,773 | +€28,023 | +1,019% |
| Operating income | 70/76A | €309,574 | €952,244 | +€642,670 | +208% |
| Turnover | 70 | €309,574 | €892,986 | +€583,412 | +188% |
| Non-recurring operating income | 76A | €0 | €59,258 | +€59,258 | |
| Operating charges | 60/66A | €209,965 | €676,745 | +€466,780 | +222% |
| Services and other goods | 61 | €6,522 | €7,158 | +€637 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €203,443 | €610,328 | +€406,885 | +200% |
| Non-recurring operating charges | 66A | - | €59,258 | +€59,258 | |
| Operating profit (loss) | 9901 | €99,609 | €275,500 | +€175,891 | +177% |
| Financial income | 75/76B | €4,854,421 | €291,383 | -€4.6m | -94.0% |
| Recurring financial income | 75 | €3,220,500 | €291,383 | -€2.9m | -91.0% |
| Income from financial fixed assets | 750 | €3,220,500 | - | -€3.2m | |
| Income from current assets | 751 | - | €291,383 | +€291,383 | |
| Non-recurring financial income | 76B | €1,633,921 | - | -€1.6m | |
| Financial charges | 65/66B | €5,949,351 | €182,487 | -€5.8m | -96.9% |
| Recurring financial charges | 65 | €54,660 | €171,980 | +€117,320 | +215% |
| Debt charges | 650 | €54,660 | €171,980 | +€117,320 | +215% |
| Non-recurring financial charges | 66B | €5,894,691 | €10,507 | -€5.9m | -99.8% |
| Profit (loss) for the period before taxes | 9903 | -€995,321 | €384,396 | +€1.4m | |
| Income taxes | 67/77 | -€1,600 | €43,819 | +€45,419 | |
| Taxes | 670/3 | - | €43,819 | +€43,819 | |
| Tax adjustments and reversals of tax provisions | 77 | €1,600 | - | -€1,600 | |
| Profit (loss) for the period | 9904 | -€993,721 | €340,578 | +€1.3m | |
| Profit (loss) for the period to be appropriated | 9905 | -€993,721 | €340,578 | +€1.3m |
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 18 October 2026 via checked.be.