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
- Receivables within one year +€20,467
up €20,467 (+25.0%), from €81,795 to €102,262
of which Other amounts receivable: +€32,435
- Profit (loss) carried forward +€21,655
up €21,655 (+190.8%), from €11,348 to €33,003
- Current portion of long-term debt -€5,686
down €5,686 (-60.7%), from €9,372 to €3,686
- Tax, wage and social debts +€2,641
up €2,641 (+15.2%), from €17,356 to €19,997
- Gross operating margin +€13,430
up €13,430 (+70.7%), from €19,009 to €32,439
- Taxes +€2,246
up €2,246 (+46.7%), from €4,810 to €7,056
- Other operating charges +€1,932
up €1,932 (+272.9%), from €708 to €2,640
- Financial charges -€971
down €971 (-64.8%), from €1,499 to €528
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 | €84,857 | €104,519 | +€19,662 | +23.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,791 | €2,231 | -€560 | -20.1% |
| Tangible fixed assets | 22/27 | €2,671 | €2,111 | -€560 | -21.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €2,671 | €2,111 | -€560 | -21.0% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €82,066 | €102,288 | +€20,222 | +24.6% |
| Amounts receivable within one year | 40/41 | €81,795 | €102,262 | +€20,467 | +25.0% |
| Trade receivables | 40 | €20,032 | €8,064 | -€11,968 | -59.7% |
| Other amounts receivable | 41 | €61,763 | €94,198 | +€32,435 | +52.5% |
| Cash at bank and in hand | 54/58 | €10 | €26 | +€15 | +152.2% |
| Deferred charges and accrued income | 490/1 | €261 | - | -€261 | |
| Total equity and liabilities | 10/49 | €84,857 | €104,519 | +€19,662 | +23.2% |
| Equity | 10/15 | €58,129 | €79,784 | +€21,655 | +37.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €44,781 | €44,781 | = | 0.0% |
| Distributable reserves | 133 | €44,781 | €44,781 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,348 | €33,003 | +€21,655 | +190.8% |
| Amounts payable | 17/49 | €26,728 | €24,735 | -€1,993 | -7.5% |
| Amounts payable within one year | 42/48 | €26,728 | €24,735 | -€1,993 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €9,372 | €3,686 | -€5,686 | -60.7% |
| Financial debts | 43 | - | €82 | +€82 | |
| Credit institutions | 430/8 | - | €82 | +€82 | |
| Trade debts | 44 | €0 | €969 | +€969 | |
| Suppliers | 440/4 | €0 | €969 | +€969 | |
| Taxes, remuneration and social security | 45 | €17,356 | €19,997 | +€2,641 | +15.2% |
| Taxes | 450/3 | €17,356 | €19,997 | +€2,641 | +15.2% |
| Non-recurring operating income | 76A | - | €8,674 | +€8,674 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €760 | €560 | -€200 | -26.4% |
| Other operating charges | 640/8 | €708 | €2,640 | +€1,932 | +272.9% |
| Gross operating margin | 9900 | €19,009 | €32,439 | +€13,430 | +70.7% |
| Operating profit (loss) | 9901 | €17,541 | €29,239 | +€11,699 | +66.7% |
| Financial income | 75/76B | €115 | €0 | -€115 | -100.0% |
| Recurring financial income | 75 | €115 | €0 | -€115 | -100.0% |
| Financial charges | 65/66B | €1,499 | €528 | -€971 | -64.8% |
| Recurring financial charges | 65 | €1,499 | €528 | -€971 | -64.8% |
| Profit (loss) for the period before taxes | 9903 | €16,157 | €28,711 | +€12,554 | +77.7% |
| Income taxes | 67/77 | €4,810 | €7,056 | +€2,246 | +46.7% |
| Profit (loss) for the period | 9904 | €11,348 | €21,655 | +€10,308 | +90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,348 | €21,655 | +€10,308 | +90.8% |
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 9 October 2026 via checked.be.