PHOENIX: 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.
PHOENIX
Largest movements
- Cash -€25,475
down €25,475 (-100.0%), from €25,475 to €0
mainly Net result for the year (-€46,472) and Trade debts (-€1,839)
- Receivables within one year -€18,383
down €18,383 (-27.0%), from €68,152 to €49,769
of which Trade receivables: -€47,190
- Profit (loss) carried forward -€46,472
down €46,472 (-65.2%), from €71,320 to €24,848
- Tax, wage and social debts +€3,824
up €3,824 (+19.3%), from €19,848 to €23,672
- Trade debts -€1,839
down €1,839 (-100.0%), from €1,839 to €0
- Gross operating margin -€138,068
down €138,068, from €92,367 to -€45,701
- Taxes -€19,848
down €19,848 (-100.0%), from €19,848 to €0
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 | €95,506 | €51,043 | -€44,463 | -46.6% |
| Fixed assets | 21/28 | €1,880 | €1,274 | -€605 | -32.2% |
| Tangible fixed assets | 22/27 | €1,480 | €874 | -€605 | -40.9% |
| Plant, machinery and equipment | 23 | €1,480 | €874 | -€605 | -40.9% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €93,627 | €49,769 | -€43,858 | -46.8% |
| Amounts receivable within one year | 40/41 | €68,152 | €49,769 | -€18,383 | -27.0% |
| Trade receivables | 40 | €47,190 | €0 | -€47,190 | -100.0% |
| Other amounts receivable | 41 | €20,962 | €49,769 | +€28,807 | +137.4% |
| Cash at bank and in hand | 54/58 | €25,475 | €0 | -€25,475 | -100.0% |
| Total equity and liabilities | 10/49 | €95,506 | €51,043 | -€44,463 | -46.6% |
| Equity | 10/15 | €73,820 | €27,348 | -€46,472 | -63.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,320 | €24,848 | -€46,472 | -65.2% |
| Amounts payable | 17/49 | €21,687 | €23,695 | +€2,008 | +9.3% |
| Amounts payable within one year | 42/48 | €21,687 | €23,695 | +€2,008 | +9.3% |
| Financial debts | 43 | - | €23 | +€23 | |
| Credit institutions | 430/8 | - | €23 | +€23 | |
| Trade debts | 44 | €1,839 | €0 | -€1,839 | -100.0% |
| Suppliers | 440/4 | €1,839 | €0 | -€1,839 | -100.0% |
| Taxes, remuneration and social security | 45 | €19,848 | €23,672 | +€3,824 | +19.3% |
| Taxes | 450/3 | €19,848 | €23,672 | +€3,824 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €337 | €605 | +€269 | +79.7% |
| Other operating charges | 640/8 | €782 | €0 | -€782 | -100.0% |
| Gross operating margin | 9900 | €92,367 | -€45,701 | -€138,068 | |
| Operating profit (loss) | 9901 | €91,248 | -€46,306 | -€137,555 | |
| Financial charges | 65/66B | €81 | €165 | +€85 | +105.4% |
| Recurring financial charges | 65 | €81 | €165 | +€85 | +105.4% |
| Profit (loss) for the period before taxes | 9903 | €91,168 | -€46,472 | -€137,639 | |
| Income taxes | 67/77 | €19,848 | €0 | -€19,848 | -100.0% |
| Profit (loss) for the period | 9904 | €71,320 | -€46,472 | -€117,791 | |
| Profit (loss) for the period to be appropriated | 9905 | €71,320 | -€46,472 | -€117,791 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.