Phoenix Holding: 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.
What changed
Phoenix Holding
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2.9m
2024 · -€3.0m+€110,965
Equity
€113.3m
2024 · €116.2m-€2.9m
Cash
€2,576
2024 · €48,181-€45,605
Balance sheet total
€160.4m
2024 · €159.9m+€540,028
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Profit (loss) carried forward -€2.9m
down €2.9m (-31.8%), from -€9.1m to -€12.0m
- Debts after one year +€2.7m
up €2.7m (+6.3%), from €43.4m to €46.2m
Income statement
- Financial charges -€653,964
down €653,964 (-20.9%), from €3.1m to €2.5m
- Services and other goods +€592,434
up €592,434 (+79.7%), from €743,542 to €1.3m
- Turnover +€371,594
up €371,594 (+67.3%), from €551,827 to €923,422
- Financial income -€322,209
down €322,209 (-99.9%), from €322,463 to €254
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.
Result 2024
-€3.0m
Turnover
+€371,594
Services and other goods
-€592,434
Depreciation
+€0
Other operating charges
+€44
Financial income
-€322,209
Financial charges
+€653,964
Taxes
+€6
Result 2025
-€2.9m
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.
From operations
-€2.7m
Investment
-€103,000
Financing
+€2.7m
Cash 2024
€48,181
From operations (derived)
-€2.7m
Net result for the year
-€2.9m
Depreciation
+€15,310
Receivables within one year
-€843,406
Deferred charges and accrued income
+€345,463
Trade debts
+€576,717
Tax, wage and social debts
+€769
Accrued charges and deferred income
+€112,736
Investment (derived)
-€103,000
Current investments
-€103,000
Financing
+€2.7m
Debts after one year
+€2.7m
Cash 2025
€2,576
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €159,872,800 | €160,412,829 | +€540,028 | +0.3% |
| Fixed assets | 21/28 | €158,496,478 | €158,481,169 | -€15,310 | 0.0% |
| Tangible fixed assets | 22/27 | €60,820 | €45,510 | -€15,310 | -25.2% |
| Furniture and vehicles | 24 | €60,820 | €45,510 | -€15,310 | -25.2% |
| Financial fixed assets | 28 | €158,435,658 | €158,435,658 | = | 0.0% |
| Affiliated companies | 280/1 | €158,435,658 | €158,435,658 | = | 0.0% |
| Participating interests | 280 | €158,435,658 | €158,435,658 | = | 0.0% |
| Current assets | 29/58 | €1,376,322 | €1,931,660 | +€555,338 | +40.3% |
| Amounts receivable within one year | 40/41 | €793,978 | €1,637,384 | +€843,406 | +106.2% |
| Trade receivables | 40 | €314,036 | €873,410 | +€559,374 | +178.1% |
| Other amounts receivable | 41 | €479,942 | €763,974 | +€284,033 | +59.2% |
| Current investments | 50/53 | - | €103,000 | +€103,000 | |
| Other investments | 51/53 | - | €103,000 | +€103,000 | |
| Cash at bank and in hand | 54/58 | €48,181 | €2,576 | -€45,605 | -94.7% |
| Deferred charges and accrued income | 490/1 | €534,163 | €188,700 | -€345,463 | -64.7% |
| Total equity and liabilities | 10/49 | €159,872,800 | €160,412,829 | +€540,028 | +0.3% |
| Equity | 10/15 | €116,207,439 | €113,308,246 | -€2.9m | -2.5% |
| Contributions | 10/11 | €125,331,286 | €125,331,286 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,123,847 | -€12,023,040 | -€2.9m | -31.8% |
| Amounts payable | 17/49 | €43,665,361 | €47,104,583 | +€3.4m | +7.9% |
| Amounts payable after more than one year | 17 | €43,416,794 | €46,165,794 | +€2.7m | +6.3% |
| Financial debts | 170/4 | €43,416,794 | €46,165,794 | +€2.7m | +6.3% |
| Credit institutions | 173 | €39,795,794 | €39,795,794 | = | 0.0% |
| Other loans | 174 | €3,621,000 | €6,370,000 | +€2.7m | +75.9% |
| Amounts payable within one year | 42/48 | €142,005 | €719,491 | +€577,486 | +406.7% |
| Trade debts | 44 | €142,005 | €718,722 | +€576,717 | +406.1% |
| Suppliers | 440/4 | €142,005 | €718,722 | +€576,717 | +406.1% |
| Taxes, remuneration and social security | 45 | - | €769 | +€769 | |
| Taxes | 450/3 | - | €769 | +€769 | |
| Accrued charges and deferred income | 492/3 | €106,562 | €219,299 | +€112,736 | +105.8% |
| Operating income | 70/76A | €551,827 | €923,422 | +€371,594 | +67.3% |
| Turnover | 70 | €551,827 | €923,422 | +€371,594 | +67.3% |
| Operating charges | 60/66A | €759,173 | €1,351,563 | +€592,390 | +78.0% |
| Services and other goods | 61 | €743,542 | €1,335,975 | +€592,434 | +79.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,310 | €15,310 | -€0 | 0.0% |
| Other operating charges | 640/8 | €322 | €278 | -€44 | -13.7% |
| Operating profit (loss) | 9901 | -€207,346 | -€428,142 | -€220,795 | -106.5% |
| Financial income | 75/76B | €322,463 | €254 | -€322,209 | -99.9% |
| Recurring financial income | 75 | €322,463 | €254 | -€322,209 | -99.9% |
| Income from financial fixed assets | 750 | €322,463 | €254 | -€322,209 | -99.9% |
| Financial charges | 65/66B | €3,125,004 | €2,471,040 | -€653,964 | -20.9% |
| Recurring financial charges | 65 | €3,125,004 | €2,471,040 | -€653,964 | -20.9% |
| Debt charges | 650 | €3,122,320 | €2,467,981 | -€654,339 | -21.0% |
| Other financial charges | 652/9 | €2,684 | €3,059 | +€376 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,009,887 | -€2,898,927 | +€110,959 | +3.7% |
| Income taxes | 67/77 | €272 | €266 | -€6 | -2.0% |
| Taxes | 670/3 | €272 | €266 | -€6 | -2.0% |
| Profit (loss) for the period | 9904 | -€3,010,158 | -€2,899,194 | +€110,965 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,010,158 | -€2,899,194 | +€110,965 | +3.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.