PHOEBUS: 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.
PHOEBUS
Largest movements
- Receivables within one year -€6,525
down €6,525 (-16.3%), from €40,042 to €33,517
of which Trade receivables: -€11,451
- Tangible fixed assets -€1,586
down €1,586 (-72.7%), from €2,182 to €596
- Stocks and contracts +€465
up €465 (+16.1%), from €2,895 to €3,360
- Trade debts -€6,500
down €6,500 (-41.3%), from €15,726 to €9,226
- Profit (loss) carried forward -€1,539
new in 2025: -€1,539
- Short-term financial debts +€555
up €555 (+11.5%), from €4,835 to €5,391
- Gross operating margin -€11,426
down €11,426 (-97.8%), from €11,677 to €251
- Financial charges -€1,361
down €1,361 (-52.6%), from €2,585 to €1,225
- Taxes -€815
no longer reported in 2025 (was €815)
- Financial income +€502
up €502 (+44.1%), from €1,138 to €1,640
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €45,480 | €37,996 | -€7,484 | -16.5% |
| Fixed assets | 21/28 | €2,542 | €956 | -€1,586 | -62.4% |
| Tangible fixed assets | 22/27 | €2,182 | €596 | -€1,586 | -72.7% |
| Furniture and vehicles | 24 | €2,182 | €596 | -€1,586 | -72.7% |
| Financial fixed assets | 28 | €360 | €360 | = | 0.0% |
| Current assets | 29/58 | €42,937 | €37,040 | -€5,898 | -13.7% |
| Stocks and contracts in progress | 3 | €2,895 | €3,360 | +€465 | +16.1% |
| Stocks | 30/36 | €2,895 | €3,360 | +€465 | +16.1% |
| Amounts receivable within one year | 40/41 | €40,042 | €33,517 | -€6,525 | -16.3% |
| Trade receivables | 40 | €16,315 | €4,865 | -€11,451 | -70.2% |
| Other amounts receivable | 41 | €23,727 | €28,652 | +€4,926 | +20.8% |
| Deferred charges and accrued income | 490/1 | - | €163 | +€163 | |
| Total equity and liabilities | 10/49 | €45,480 | €37,996 | -€7,484 | -16.5% |
| Equity | 10/15 | €24,139 | €22,600 | -€1,539 | -6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,539 | €5,539 | = | 0.0% |
| Distributable reserves | 133 | €5,539 | €5,539 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,539 | -€1,539 | |
| Amounts payable | 17/49 | €21,341 | €15,396 | -€5,945 | -27.9% |
| Amounts payable within one year | 42/48 | €21,341 | €15,396 | -€5,945 | -27.9% |
| Financial debts | 43 | €4,835 | €5,391 | +€555 | +11.5% |
| Credit institutions | 430/8 | €4,835 | €5,391 | +€555 | +11.5% |
| Trade debts | 44 | €15,726 | €9,226 | -€6,500 | -41.3% |
| Suppliers | 440/4 | €15,726 | €9,226 | -€6,500 | -41.3% |
| Taxes, remuneration and social security | 45 | €779 | €779 | = | 0.0% |
| Taxes | 450/3 | €779 | €779 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,619 | €1,586 | -€33 | -2.0% |
| Other operating charges | 640/8 | €702 | €620 | -€83 | -11.8% |
| Gross operating margin | 9900 | €11,677 | €251 | -€11,426 | -97.8% |
| Operating profit (loss) | 9901 | €9,356 | -€1,954 | -€11,310 | |
| Financial income | 75/76B | €1,138 | €1,640 | +€502 | +44.1% |
| Recurring financial income | 75 | €1,138 | €1,640 | +€502 | +44.1% |
| Financial charges | 65/66B | €2,585 | €1,225 | -€1,361 | -52.6% |
| Recurring financial charges | 65 | €2,585 | €1,225 | -€1,361 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | €7,908 | -€1,539 | -€9,447 | |
| Income taxes | 67/77 | €815 | - | -€815 | |
| Profit (loss) for the period | 9904 | €7,093 | -€1,539 | -€8,632 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,093 | -€1,539 | -€8,632 |
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 3 October 2026 via checked.be.