Phoenix: 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.
Phoenix
Largest movements
- Deferred charges and accrued income +€31,070
up €31,070 (+1270.3%), from €2,446 to €33,516
- Cash -€19,087
down €19,087 (-40.7%), from €46,875 to €27,788
mainly Contributions, distributions and other (-€133,016) and Deferred charges and accrued income (-€31,070)
- Tangible fixed assets +€4,510
up €4,510 (+35.1%), from €12,866 to €17,376
of which Other tangible fixed assets: +€4,400
- Other debts +€9,306
up €9,306 (+17.5%), from €53,236 to €62,543
- Tax, wage and social debts +€4,645
up €4,645 (+80.2%), from €5,790 to €10,435
of which Taxes: +€4,645
- Trade debts +€2,823
up €2,823 (+85.3%), from €3,311 to €6,134
- Gross operating margin +€95,718
up €95,718 (+119.7%), from €79,947 to €175,665
- Taxes +€22,703
up €22,703 (+157.2%), from €14,442 to €37,145
- Depreciation -€9,657
down €9,657 (-73.7%), from €13,109 to €3,453
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 | €62,438 | €79,211 | +€16,774 | +26.9% |
| Fixed assets | 21/28 | €12,866 | €17,376 | +€4,510 | +35.1% |
| Tangible fixed assets | 22/27 | €12,866 | €17,376 | +€4,510 | +35.1% |
| Plant, machinery and equipment | 23 | - | €1,689 | +€1,689 | |
| Furniture and vehicles | 24 | €6,666 | €5,087 | -€1,580 | -23.7% |
| Other tangible fixed assets | 26 | €6,200 | €10,600 | +€4,400 | +71.0% |
| Current assets | 29/58 | €49,571 | €61,835 | +€12,264 | +24.7% |
| Amounts receivable within one year | 40/41 | €250 | €532 | +€282 | +112.7% |
| Other amounts receivable | 41 | €250 | €532 | +€282 | +112.7% |
| Cash at bank and in hand | 54/58 | €46,875 | €27,788 | -€19,087 | -40.7% |
| Deferred charges and accrued income | 490/1 | €2,446 | €33,516 | +€31,070 | +1270.3% |
| Total equity and liabilities | 10/49 | €62,438 | €79,211 | +€16,774 | +26.9% |
| Equity | 10/15 | €100 | €100 | = | 0.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €62,338 | €79,111 | +€16,774 | +26.9% |
| Amounts payable within one year | 42/48 | €62,338 | €79,111 | +€16,774 | +26.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,311 | €6,134 | +€2,823 | +85.3% |
| Suppliers | 440/4 | €3,311 | €6,134 | +€2,823 | +85.3% |
| Taxes, remuneration and social security | 45 | €5,790 | €10,435 | +€4,645 | +80.2% |
| Taxes | 450/3 | €3,669 | €8,314 | +€4,645 | +126.6% |
| Remuneration and social security | 454/9 | €2,121 | €2,121 | = | 0.0% |
| Other amounts payable | 47/48 | €53,236 | €62,543 | +€9,306 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,109 | €3,453 | -€9,657 | -73.7% |
| Other operating charges | 640/8 | €1,194 | €293 | -€902 | -75.5% |
| Gross operating margin | 9900 | €79,947 | €175,665 | +€95,718 | +119.7% |
| Operating profit (loss) | 9901 | €65,643 | €171,919 | +€106,276 | +161.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €265 | €1,759 | +€1,494 | +564.2% |
| Recurring financial charges | 65 | €265 | €1,759 | +€1,494 | +564.2% |
| Profit (loss) for the period before taxes | 9903 | €65,378 | €170,161 | +€104,782 | +160.3% |
| Income taxes | 67/77 | €14,442 | €37,145 | +€22,703 | +157.2% |
| Profit (loss) for the period | 9904 | €50,936 | €133,016 | +€82,080 | +161.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,936 | €133,016 | +€82,080 | +161.1% |
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 12 October 2026 via checked.be.