PHOENIX BOOKS: 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 BOOKS
Largest movements
- Cash +€26,070
up €26,070 (+825%), from €3,159 to €29,230
mainly Short-term financial debts (+€16,043) and Stocks and contracts (+€10,028)
- Stocks and contracts -€10,028
down €10,028 (-24.0%), from €41,699 to €31,671
- Receivables within one year +€1,038
up €1,038 (+91.0%), from €1,140 to €2,178
of which Trade receivables: +€1,975
- Short-term financial debts +€16,043
up €16,043 (+264%), from €6,083 to €22,126
of which Credit institutions: +€22,126
- Debts after one year -€4,426
down €4,426 (-55.8%), from €7,928 to €3,502
- Tax, wage and social debts +€3,719
up €3,719 (+241%), from €1,546 to €5,265
of which Remuneration and social security: +€3,524
- Profit (loss) carried forward +€3,690
up €3,690 (+506%), from €729 to €4,420
- Other debts -€2,206
down €2,206 (-17.4%), from €12,680 to €10,475
- Gross operating margin +€2,820
up €2,820 (+84.5%), from €3,337 to €6,157
- Depreciation -€864
no longer reported in 2025 (was €864)
- Taxes +€374
up €374 (+65.5%), from €571 to €945
- Financial charges -€180
down €180 (-15.3%), from €1,175 to €994
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 | €46,345 | €63,426 | +€17,080 | +36.9% |
| Formation expenses | 20 | €347 | €347 | = | 0.0% |
| Current assets | 29/58 | €45,999 | €63,079 | +€17,080 | +37.1% |
| Stocks and contracts in progress | 3 | €41,699 | €31,671 | -€10,028 | -24.0% |
| Stocks | 30/36 | €41,699 | €31,671 | -€10,028 | -24.0% |
| Amounts receivable within one year | 40/41 | €1,140 | €2,178 | +€1,038 | +91.0% |
| Trade receivables | 40 | - | €1,975 | +€1,975 | |
| Other amounts receivable | 41 | €1,140 | €204 | -€937 | -82.1% |
| Cash at bank and in hand | 54/58 | €3,159 | €29,230 | +€26,070 | +825% |
| Total equity and liabilities | 10/49 | €46,345 | €63,426 | +€17,080 | +36.9% |
| Equity | 10/15 | €13,124 | €16,814 | +€3,690 | +28.1% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Profit (loss) carried forward | 14 | €729 | €4,420 | +€3,690 | +506% |
| Amounts payable | 17/49 | €33,221 | €46,612 | +€13,390 | +40.3% |
| Amounts payable after more than one year | 17 | €7,928 | €3,502 | -€4,426 | -55.8% |
| Financial debts | 170/4 | €7,928 | €3,502 | -€4,426 | -55.8% |
| Amounts payable within one year | 42/48 | €25,293 | €43,110 | +€17,816 | +70.4% |
| Financial debts | 43 | €6,083 | €22,126 | +€16,043 | +264% |
| Credit institutions | 430/8 | - | €22,126 | +€22,126 | |
| Other loans | 439 | €6,083 | - | -€6,083 | |
| Trade debts | 44 | €4,984 | €5,244 | +€259 | +5.2% |
| Suppliers | 440/4 | €4,984 | €5,244 | +€259 | +5.2% |
| Taxes, remuneration and social security | 45 | €1,546 | €5,265 | +€3,719 | +241% |
| Taxes | 450/3 | €1,275 | €1,470 | +€195 | +15.3% |
| Remuneration and social security | 454/9 | €272 | €3,795 | +€3,524 | +1,297% |
| Other amounts payable | 47/48 | €12,680 | €10,475 | -€2,206 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €864 | - | -€864 | |
| Other operating charges | 640/8 | €563 | €544 | -€19 | -3.4% |
| Gross operating margin | 9900 | €3,337 | €6,157 | +€2,820 | +84.5% |
| Operating profit (loss) | 9901 | €1,910 | €5,613 | +€3,703 | +194% |
| Financial income | 75/76B | €16 | €17 | +€1 | +8.7% |
| Recurring financial income | 75 | €16 | €17 | +€1 | +8.7% |
| Financial charges | 65/66B | €1,175 | €994 | -€180 | -15.3% |
| Recurring financial charges | 65 | €1,175 | €994 | -€180 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €751 | €4,636 | +€3,884 | +517% |
| Income taxes | 67/77 | €571 | €945 | +€374 | +65.5% |
| Profit (loss) for the period | 9904 | €180 | €3,690 | +€3,510 | +1,953% |
| Profit (loss) for the period to be appropriated | 9905 | €180 | €3,690 | +€3,510 | +1,953% |
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 26 October 2026 via checked.be.