PHOENIX EXECUTIVE: 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 EXECUTIVE
Largest movements
- Cash +€14,074
new in 2025: €14,074
mainly Trade debts (+€17,567) and Receivables within one year (+€10,534)
- Receivables within one year -€10,534
down €10,534 (-27.5%), from €38,326 to €27,791
- Financial fixed assets -€7,688
no longer reported in 2025 (was €7,688)
- Short-term financial debts -€24,906
no longer reported in 2025 (was €24,906)
- Trade debts +€17,567
up €17,567 (+1,876%), from €937 to €18,503
- Tax, wage and social debts +€3,828
up €3,828 (+74.9%), from €5,112 to €8,940
- Debts after one year -€1,400
no longer reported in 2025 (was €1,400)
- Profit (loss) carried forward +€763
up €763 (+11.2%), from -€6,800 to -€6,038
- Gross operating margin +€57,433
up €57,433, from -€12,326 to €45,107
- Staff costs +€21,938
up €21,938 (+165%), from €13,302 to €35,239
- Other operating charges +€5,972
up €5,972 (+1,273%), from €469 to €6,442
- Taxes +€1,171
new in 2025: €1,171
- Financial charges -€846
down €846 (-36.2%), from €2,339 to €1,493
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 | €46,014 | €41,866 | -€4,148 | -9.0% |
| Fixed assets | 21/28 | €7,688 | - | -€7,688 | |
| Financial fixed assets | 28 | €7,688 | - | -€7,688 | |
| Current assets | 29/58 | €38,326 | €41,866 | +€3,540 | +9.2% |
| Amounts receivable within one year | 40/41 | €38,326 | €27,791 | -€10,534 | -27.5% |
| Trade receivables | 40 | €38,326 | €27,791 | -€10,534 | -27.5% |
| Cash at bank and in hand | 54/58 | - | €14,074 | +€14,074 | |
| Total equity and liabilities | 10/49 | €46,014 | €41,866 | -€4,148 | -9.0% |
| Equity | 10/15 | €13,660 | €14,422 | +€763 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,800 | -€6,038 | +€763 | +11.2% |
| Amounts payable | 17/49 | €32,354 | €27,443 | -€4,911 | -15.2% |
| Amounts payable after more than one year | 17 | €1,400 | - | -€1,400 | |
| Other amounts payable | 178/9 | €1,400 | - | -€1,400 | |
| Amounts payable within one year | 42/48 | €30,954 | €27,443 | -€3,511 | -11.3% |
| Financial debts | 43 | €24,906 | - | -€24,906 | |
| Credit institutions | 430/8 | €24,906 | - | -€24,906 | |
| Trade debts | 44 | €937 | €18,503 | +€17,567 | +1,876% |
| Suppliers | 440/4 | €937 | €18,503 | +€17,567 | +1,876% |
| Taxes, remuneration and social security | 45 | €5,112 | €8,940 | +€3,828 | +74.9% |
| Taxes | 450/3 | €5,112 | €8,940 | +€3,828 | +74.9% |
| Remuneration, social security and pensions | 62 | €13,302 | €35,239 | +€21,938 | +165% |
| Other operating charges | 640/8 | €469 | €6,442 | +€5,972 | +1,273% |
| Gross operating margin | 9900 | -€12,326 | €45,107 | +€57,433 | |
| Operating profit (loss) | 9901 | -€26,097 | €3,426 | +€29,523 | |
| Financial charges | 65/66B | €2,339 | €1,493 | -€846 | -36.2% |
| Recurring financial charges | 65 | €2,339 | €1,493 | -€846 | -36.2% |
| Profit (loss) for the period before taxes | 9903 | -€28,435 | €1,933 | +€30,369 | |
| Income taxes | 67/77 | - | €1,171 | +€1,171 | |
| Profit (loss) for the period | 9904 | -€28,435 | €763 | +€29,198 | |
| Transfer from tax-exempt reserves | 789 | €18,750 | - | -€18,750 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,685 | €763 | +€10,448 |
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 14 October 2026 via checked.be.