PHOEDEMC2: 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.
PHOEDEMC2
Largest movements
- Cash +€24,715
up €24,715 (+76.3%), from €32,389 to €57,104
mainly Net result for the year (+€45,126) and Tax, wage and social debts (+€6,534)
- Receivables within one year +€20,989
up €20,989 (+131.6%), from €15,944 to €36,933
of which Trade receivables: +€13,420
- Tangible fixed assets +€5,451
new in 2025: €5,451
- Profit (loss) carried forward +€45,126
up €45,126 (+112.6%), from €40,094 to €85,220
- Tax, wage and social debts +€6,534
up €6,534 (+84.7%), from €7,713 to €14,246
- Gross operating margin +€7,658
up €7,658 (+14.6%), from €52,422 to €60,080
- Taxes +€2,001
up €2,001 (+16.3%), from €12,282 to €14,284
- Depreciation +€992
new in 2025: €992
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 | €48,446 | €99,942 | +€51,496 | +106.3% |
| Fixed assets | 21/28 | - | €5,451 | +€5,451 | |
| Tangible fixed assets | 22/27 | - | €5,451 | +€5,451 | |
| Furniture and vehicles | 24 | - | €5,451 | +€5,451 | |
| Current assets | 29/58 | €48,446 | €94,491 | +€46,045 | +95.0% |
| Amounts receivable within one year | 40/41 | €15,944 | €36,933 | +€20,989 | +131.6% |
| Trade receivables | 40 | €15,227 | €28,647 | +€13,420 | +88.1% |
| Other amounts receivable | 41 | €718 | €8,286 | +€7,568 | +1054.5% |
| Cash at bank and in hand | 54/58 | €32,389 | €57,104 | +€24,715 | +76.3% |
| Deferred charges and accrued income | 490/1 | €112 | €454 | +€342 | +304.1% |
| Total equity and liabilities | 10/49 | €48,446 | €99,942 | +€51,496 | +106.3% |
| Equity | 10/15 | €40,244 | €85,370 | +€45,126 | +112.1% |
| Contributions | 10/11 | €150 | €150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,094 | €85,220 | +€45,126 | +112.6% |
| Amounts payable | 17/49 | €8,202 | €14,571 | +€6,369 | +77.7% |
| Amounts payable within one year | 42/48 | €8,202 | €14,571 | +€6,369 | +77.7% |
| Trade debts | 44 | €54 | €325 | +€271 | +502.0% |
| Suppliers | 440/4 | €54 | €325 | +€271 | +502.0% |
| Taxes, remuneration and social security | 45 | €7,713 | €14,246 | +€6,534 | +84.7% |
| Taxes | 450/3 | €7,713 | €14,246 | +€6,534 | +84.7% |
| Other amounts payable | 47/48 | €435 | - | -€435 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €992 | +€992 | |
| Other operating charges | 640/8 | - | €44 | +€44 | |
| Gross operating margin | 9900 | €52,422 | €60,080 | +€7,658 | +14.6% |
| Operating profit (loss) | 9901 | €52,422 | €59,044 | +€6,622 | +12.6% |
| Financial income | 75/76B | €15 | €457 | +€442 | +2989.8% |
| Recurring financial income | 75 | €15 | €457 | +€442 | +2989.8% |
| Financial charges | 65/66B | €60 | €91 | +€31 | +51.4% |
| Recurring financial charges | 65 | €60 | €91 | +€31 | +51.4% |
| Profit (loss) for the period before taxes | 9903 | €52,376 | €59,410 | +€7,034 | +13.4% |
| Income taxes | 67/77 | €12,282 | €14,284 | +€2,001 | +16.3% |
| Profit (loss) for the period | 9904 | €40,094 | €45,126 | +€5,032 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,094 | €45,126 | +€5,032 | +12.6% |
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 1 October 2026 via checked.be.