PHOCON: 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.
PHOCON
Largest movements
- Current investments +€160,000
new in 2025: €160,000
- Cash -€95,619
down €95,619 (-49.7%), from €192,575 to €96,955
mainly Current investments (-€160,000) and Accrued charges and deferred income (-€7,183)
- Receivables within one year -€12,647
down €12,647 (-33.2%), from €38,121 to €25,474
of which Trade receivables: -€12,705
- Reserves +€46,451
up €46,451 (+24.3%), from €190,962 to €237,414
of which Distributable reserves: +€46,451
- Other debts +€8,622
up €8,622 (+577%), from €1,495 to €10,117
- Accrued charges and deferred income -€7,183
down €7,183 (-100%), from €7,183 to €0
- Financial charges -€2,895
down €2,895 (-94.1%), from €3,076 to €182
- Gross operating margin -€1,089
down €1,089 (-1.6%), from €66,286 to €65,197
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 | €232,693 | €282,429 | +€49,736 | +21.4% |
| Fixed assets | 21/28 | €443 | €0 | -€443 | -100% |
| Tangible fixed assets | 22/27 | €443 | €0 | -€443 | -100% |
| Plant, machinery and equipment | 23 | €443 | €0 | -€443 | -100% |
| Current assets | 29/58 | €232,250 | €282,429 | +€50,179 | +21.6% |
| Amounts receivable within one year | 40/41 | €38,121 | €25,474 | -€12,647 | -33.2% |
| Trade receivables | 40 | €38,115 | €25,410 | -€12,705 | -33.3% |
| Other amounts receivable | 41 | €6 | €64 | +€58 | +915% |
| Current investments | 50/53 | - | €160,000 | +€160,000 | |
| Cash at bank and in hand | 54/58 | €192,575 | €96,955 | -€95,619 | -49.7% |
| Deferred charges and accrued income | 490/1 | €1,554 | €0 | -€1,554 | -100% |
| Total equity and liabilities | 10/49 | €232,693 | €282,429 | +€49,736 | +21.4% |
| Equity | 10/15 | €210,962 | €257,414 | +€46,451 | +22.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €190,962 | €237,414 | +€46,451 | +24.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €190,962 | €237,414 | +€46,451 | +24.3% |
| Amounts payable | 17/49 | €21,731 | €25,016 | +€3,285 | +15.1% |
| Amounts payable within one year | 42/48 | €14,548 | €25,016 | +€10,467 | +71.9% |
| Trade debts | 44 | €525 | €515 | -€10 | -1.8% |
| Suppliers | 440/4 | €525 | €515 | -€10 | -1.8% |
| Taxes, remuneration and social security | 45 | €12,528 | €14,383 | +€1,855 | +14.8% |
| Taxes | 450/3 | €12,528 | €14,383 | +€1,855 | +14.8% |
| Other amounts payable | 47/48 | €1,495 | €10,117 | +€8,622 | +577% |
| Accrued charges and deferred income | 492/3 | €7,183 | €0 | -€7,183 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €888 | €443 | -€445 | -50.1% |
| Other operating charges | 640/8 | €1,039 | €1,068 | +€28 | +2.7% |
| Gross operating margin | 9900 | €66,286 | €65,197 | -€1,089 | -1.6% |
| Operating profit (loss) | 9901 | €64,359 | €63,686 | -€672 | -1.0% |
| Financial income | 75/76B | €1,271 | €714 | -€556 | -43.8% |
| Recurring financial income | 75 | €1,271 | €714 | -€556 | -43.8% |
| Financial charges | 65/66B | €3,076 | €182 | -€2,895 | -94.1% |
| Recurring financial charges | 65 | €3,076 | €182 | -€2,895 | -94.1% |
| Profit (loss) for the period before taxes | 9903 | €62,553 | €64,219 | +€1,666 | +2.7% |
| Income taxes | 67/77 | €17,300 | €17,767 | +€467 | +2.7% |
| Profit (loss) for the period | 9904 | €45,252 | €46,451 | +€1,199 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,252 | €46,451 | +€1,199 | +2.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.