PHOENIX A.I.: 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 A.I.
Largest movements
- Intangible fixed assets +€273,708
up €273,708 (+16.4%), from €1.7m to €1.9m
- Receivables within one year +€220,094
up €220,094 (+109%), from €202,026 to €422,120
of which Other amounts receivable: +€194,533
- Cash -€60,024
down €60,024 (-70.5%), from €85,175 to €25,151
mainly Investment in fixed assets (net) (-€694,272) and Receivables within one year (-€220,094)
- Investment grants +€307,241
up €307,241 (+50.9%), from €604,186 to €911,427
- Trade debts +€240,512
up €240,512 (+128%), from €187,275 to €427,787
- Profit (loss) carried forward -€191,711
down €191,711 (-14.3%), from -€1.3m to -€1.5m
- Tax, wage and social debts +€99,423
up €99,423 (+98.4%), from €101,052 to €200,475
of which Remuneration and social security: +€99,303
- Debts after one year -€71,487
down €71,487 (-14.6%), from €490,651 to €419,164
of which Financial debts: -€43,026
- Gross operating margin +€315,261
up €315,261 (+84.4%), from €373,696 to €688,957
- Staff costs +€233,097
up €233,097 (+57.3%), from €406,866 to €639,963
- Depreciation +€90,995
up €90,995 (+26.7%), from €340,446 to €431,441
- Financial income +€69,526
up €69,526 (+59.2%), from €117,535 to €187,061
- Taxes -€9,886
down €9,886 (-51.1%), from -€19,364 to -€29,250
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.
Derived cash bridge
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 | €2,004,038 | €2,429,584 | +€425,546 | +21.2% |
| Formation expenses | 20 | €361 | - | -€361 | |
| Fixed assets | 21/28 | €1,693,338 | €1,956,530 | +€263,192 | +15.5% |
| Intangible fixed assets | 21 | €1,673,045 | €1,946,753 | +€273,708 | +16.4% |
| Tangible fixed assets | 22/27 | €17,838 | €7,497 | -€10,341 | -58.0% |
| Furniture and vehicles | 24 | €17,838 | €7,497 | -€10,341 | -58.0% |
| Financial fixed assets | 28 | €2,455 | €2,280 | -€175 | -7.1% |
| Current assets | 29/58 | €310,339 | €473,054 | +€162,715 | +52.4% |
| Stocks and contracts in progress | 3 | €16,731 | €16,731 | = | 0.0% |
| Stocks | 30/36 | €16,731 | €16,731 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €202,026 | €422,120 | +€220,094 | +109% |
| Trade receivables | 40 | €18,827 | €44,388 | +€25,561 | +136% |
| Other amounts receivable | 41 | €183,199 | €377,732 | +€194,533 | +106% |
| Cash at bank and in hand | 54/58 | €85,175 | €25,151 | -€60,024 | -70.5% |
| Deferred charges and accrued income | 490/1 | €6,407 | €9,052 | +€2,645 | +41.3% |
| Total equity and liabilities | 10/49 | €2,004,038 | €2,429,584 | +€425,546 | +21.2% |
| Equity | 10/15 | €1,132,240 | €1,247,770 | +€115,530 | +10.2% |
| Contributions | 10/11 | €1,869,494 | €1,869,494 | = | 0.0% |
| Capital | 10 | €1,869,494 | €1,869,494 | = | 0.0% |
| Issued capital | 100 | €1,869,494 | €1,869,494 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,341,440 | -€1,533,151 | -€191,711 | -14.3% |
| Investment grants | 15 | €604,186 | €911,427 | +€307,241 | +50.9% |
| Amounts payable | 17/49 | €871,798 | €1,181,814 | +€310,016 | +35.6% |
| Amounts payable after more than one year | 17 | €490,651 | €419,164 | -€71,487 | -14.6% |
| Financial debts | 170/4 | €217,998 | €174,972 | -€43,026 | -19.7% |
| Other amounts payable | 178/9 | €272,653 | €244,192 | -€28,461 | -10.4% |
| Amounts payable within one year | 42/48 | €380,511 | €762,650 | +€382,139 | +100% |
| Current portion of amounts payable after more than one year | 42 | €42,184 | €43,026 | +€842 | +2.0% |
| Financial debts | 43 | €50,000 | €91,362 | +€41,362 | +82.7% |
| Credit institutions | 430/8 | - | €11,362 | +€11,362 | |
| Other loans | 439 | €50,000 | €80,000 | +€30,000 | +60.0% |
| Trade debts | 44 | €187,275 | €427,787 | +€240,512 | +128% |
| Suppliers | 440/4 | €187,275 | €427,787 | +€240,512 | +128% |
| Taxes, remuneration and social security | 45 | €101,052 | €200,475 | +€99,423 | +98.4% |
| Taxes | 450/3 | €3,547 | €3,667 | +€120 | +3.4% |
| Remuneration and social security | 454/9 | €97,505 | €196,808 | +€99,303 | +102% |
| Accrued charges and deferred income | 492/3 | €636 | - | -€636 | |
| Remuneration, social security and pensions | 62 | €406,866 | €639,963 | +€233,097 | +57.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €340,446 | €431,441 | +€90,995 | +26.7% |
| Other operating charges | 640/8 | €9,705 | €10,374 | +€669 | +6.9% |
| Gross operating margin | 9900 | €373,696 | €688,957 | +€315,261 | +84.4% |
| Operating profit (loss) | 9901 | -€383,321 | -€392,821 | -€9,500 | -2.5% |
| Financial income | 75/76B | €117,535 | €187,061 | +€69,526 | +59.2% |
| Recurring financial income | 75 | €117,535 | €187,061 | +€69,526 | +59.2% |
| Financial charges | 65/66B | €9,703 | €15,201 | +€5,498 | +56.7% |
| Recurring financial charges | 65 | €9,703 | €15,201 | +€5,498 | +56.7% |
| Profit (loss) for the period before taxes | 9903 | -€275,489 | -€220,961 | +€54,528 | +19.8% |
| Income taxes | 67/77 | -€19,364 | -€29,250 | -€9,886 | -51.1% |
| Profit (loss) for the period | 9904 | -€256,125 | -€191,711 | +€64,414 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€256,125 | -€191,711 | +€64,414 | +25.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.