PHM ENGINEERING: what changed
Two fiscal 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.
PHM ENGINEERING
Largest movements
- Receivables within one year -€145,466
down €145,466 (-12.3%), from €1.2m to €1.0m
of which Trade receivables: -€141,746
- Tangible fixed assets -€108,326
down €108,326 (-50.7%), from €213,456 to €105,130
of which Plant, machinery and equipment: -€60,000
- Stocks and contracts +€63,559
up €63,559 (+5.0%), from €1.3m to €1.3m
of which Stocks: +€100,238
- Current portion of long-term debt -€112,879
down €112,879 (-76.2%), from €148,141 to €35,263
- Debts after one year -€32,715
down €32,715 (-66.5%), from €49,229 to €16,514
- Trade debts +€30,209
up €30,209 (+12.0%), from €252,237 to €282,445
- Gross operating margin -€164,728
down €164,728 (-16.0%), from €1.0m to €864,267
- Depreciation -€75,353
down €75,353 (-39.4%), from €191,179 to €115,826
- Financial charges +€32,257
up €32,257 (+46.0%), from €70,143 to €102,400
of which Non-recurring financial charges: +€49,102
- Taxes -€30,912
down €30,912 (-67.1%), from €46,086 to €15,174
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 | €2,725,784 | €2,565,830 | -€159,954 | -5.9% |
| Fixed assets | 21/28 | €218,935 | €110,608 | -€108,326 | -49.5% |
| Tangible fixed assets | 22/27 | €213,456 | €105,130 | -€108,326 | -50.7% |
| Land and buildings | 22 | €22,690 | €26,625 | +€3,935 | +17.3% |
| Plant, machinery and equipment | 23 | €60,000 | - | -€60,000 | |
| Furniture and vehicles | 24 | €77,045 | €50,998 | -€26,047 | -33.8% |
| Leasing and similar rights | 25 | €53,721 | €27,507 | -€26,214 | -48.8% |
| Financial fixed assets | 28 | €5,478 | €5,478 | = | 0.0% |
| Current assets | 29/58 | €2,506,850 | €2,455,222 | -€51,628 | -2.1% |
| Stocks and contracts in progress | 3 | €1,274,819 | €1,338,378 | +€63,559 | +5.0% |
| Stocks | 30/36 | €439,206 | €539,444 | +€100,238 | +22.8% |
| Contracts in progress | 37 | €835,613 | €798,934 | -€36,678 | -4.4% |
| Amounts receivable within one year | 40/41 | €1,180,263 | €1,034,797 | -€145,466 | -12.3% |
| Trade receivables | 40 | €988,779 | €847,033 | -€141,746 | -14.3% |
| Other amounts receivable | 41 | €191,483 | €187,763 | -€3,720 | -1.9% |
| Cash at bank and in hand | 54/58 | €50,267 | €55,216 | +€4,949 | +9.8% |
| Deferred charges and accrued income | 490/1 | €1,502 | €26,831 | +€25,330 | +1686.9% |
| Total equity and liabilities | 10/49 | €2,725,784 | €2,565,830 | -€159,954 | -5.9% |
| Equity | 10/15 | €1,317,038 | €1,309,161 | -€7,877 | -0.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,217,038 | €1,217,038 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,716 | €4,716 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,716 | €4,716 | = | 0.0% |
| Distributable reserves | 133 | €1,212,322 | €1,212,322 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€7,877 | -€7,877 | |
| Amounts payable | 17/49 | €1,408,746 | €1,256,669 | -€152,077 | -10.8% |
| Amounts payable after more than one year | 17 | €49,229 | €16,514 | -€32,715 | -66.5% |
| Financial debts | 170/4 | €49,229 | €16,514 | -€32,715 | -66.5% |
| Amounts payable within one year | 42/48 | €1,344,023 | €1,231,424 | -€112,599 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €148,141 | €35,263 | -€112,879 | -76.2% |
| Financial debts | 43 | €806,204 | €787,716 | -€18,488 | -2.3% |
| Credit institutions | 430/8 | €806,204 | €787,716 | -€18,488 | -2.3% |
| Trade debts | 44 | €252,237 | €282,445 | +€30,209 | +12.0% |
| Suppliers | 440/4 | €252,237 | €282,445 | +€30,209 | +12.0% |
| Taxes, remuneration and social security | 45 | €77,951 | €73,897 | -€4,054 | -5.2% |
| Taxes | 450/3 | €6,155 | - | -€6,155 | |
| Remuneration and social security | 454/9 | €71,796 | €73,897 | +€2,101 | +2.9% |
| Other amounts payable | 47/48 | €59,490 | €52,103 | -€7,387 | -12.4% |
| Accrued charges and deferred income | 492/3 | €15,494 | €8,731 | -€6,763 | -43.6% |
| Non-recurring operating income | 76A | €20,197 | €12,082 | -€8,115 | -40.2% |
| Remuneration, social security and pensions | 62 | €630,990 | €634,422 | +€3,432 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €191,179 | €115,826 | -€75,353 | -39.4% |
| Other operating charges | 640/8 | €4,701 | €4,322 | -€379 | -8.1% |
| Gross operating margin | 9900 | €1,028,994 | €864,267 | -€164,728 | -16.0% |
| Operating profit (loss) | 9901 | €202,124 | €109,697 | -€92,428 | -45.7% |
| Financial income | 75/76B | €10,117 | - | -€10,117 | |
| Recurring financial income | 75 | €10,117 | - | -€10,117 | |
| Financial charges | 65/66B | €70,143 | €102,400 | +€32,257 | +46.0% |
| Recurring financial charges | 65 | €70,143 | €53,298 | -€16,845 | -24.0% |
| Non-recurring financial charges | 66B | - | €49,102 | +€49,102 | |
| Profit (loss) for the period before taxes | 9903 | €142,098 | €7,297 | -€134,802 | -94.9% |
| Income taxes | 67/77 | €46,086 | €15,174 | -€30,912 | -67.1% |
| Profit (loss) for the period | 9904 | €96,013 | -€7,877 | -€103,890 | |
| Profit (loss) for the period to be appropriated | 9905 | €96,013 | -€7,877 | -€103,890 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.