PHOENIX INVEST: what changed
PHOENIX INVEST
Largest movements
- Tangible fixed assets -€27,730
down €27,730 (-38.5%), from €72,094 to €44,364
of which Land and buildings: -€53,071
- Receivables within one year -€5,787
down €5,787 (-19.6%), from €29,533 to €23,746
of which Trade receivables: -€14,157
- Deferred charges and accrued income -€4,194
down €4,194 (-92.5%), from €4,532 to €338
- Revaluation surpluses -€42,209
no longer reported in 2025 (was €42,209)
- Debts after one year +€9,130
up €9,130 (+456%), from €2,000 to €11,130
of which Financial debts: +€9,130
- Current portion of long-term debt -€4,717
down €4,717 (-41.7%), from €11,309 to €6,593
- Trade debts -€2,634
down €2,634 (-31.4%), from €8,386 to €5,751
- Profit (loss) carried forward +€2,127
up €2,127 (+3.0%), from €71,906 to €74,033
- Staff costs +€10,388
up €10,388 (+57.1%), from €18,184 to €28,572
- Gross operating margin -€5,509
down €5,509 (-5.1%), from €108,939 to €103,430
- Depreciation +€5,089
up €5,089 (+8.6%), from €59,342 to €64,431
- Taxes -€3,622
down €3,622 (-60.1%), from €6,025 to €2,403
- Other operating charges +€1,392
up €1,392 (+42.4%), from €3,287 to €4,680
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €162,762 | €124,426 | -€38,336 | -23.6% |
| Fixed assets | 21/28 | €72,137 | €44,407 | -€27,730 | -38.4% |
| Tangible fixed assets | 22/27 | €72,094 | €44,364 | -€27,730 | -38.5% |
| Land and buildings | 22 | €58,502 | €5,431 | -€53,071 | -90.7% |
| Furniture and vehicles | 24 | €13,591 | €38,933 | +€25,341 | +186% |
| Financial fixed assets | 28 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €90,625 | €80,018 | -€10,607 | -11.7% |
| Amounts receivable within one year | 40/41 | €29,533 | €23,746 | -€5,787 | -19.6% |
| Trade receivables | 40 | €22,892 | €8,736 | -€14,157 | -61.8% |
| Other amounts receivable | 41 | €6,640 | €15,010 | +€8,370 | +126% |
| Cash at bank and in hand | 54/58 | €56,560 | €55,935 | -€626 | -1.1% |
| Deferred charges and accrued income | 490/1 | €4,532 | €338 | -€4,194 | -92.5% |
| Total equity and liabilities | 10/49 | €162,762 | €124,426 | -€38,336 | -23.6% |
| Equity | 10/15 | €134,575 | €94,493 | -€40,082 | -29.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €42,209 | - | -€42,209 | |
| 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 | €71,906 | €74,033 | +€2,127 | +3.0% |
| Amounts payable | 17/49 | €28,187 | €29,932 | +€1,745 | +6.2% |
| Amounts payable after more than one year | 17 | €2,000 | €11,130 | +€9,130 | +456% |
| Financial debts | 170/4 | - | €9,130 | +€9,130 | |
| Other amounts payable | 178/9 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €26,187 | €18,802 | -€7,385 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €11,309 | €6,593 | -€4,717 | -41.7% |
| Trade debts | 44 | €8,386 | €5,751 | -€2,634 | -31.4% |
| Suppliers | 440/4 | €8,386 | €5,751 | -€2,634 | -31.4% |
| Taxes, remuneration and social security | 45 | €6,492 | €6,458 | -€33 | -0.5% |
| Taxes | 450/3 | €6,271 | €5,732 | -€539 | -8.6% |
| Remuneration and social security | 454/9 | €221 | €727 | +€506 | +229% |
| Non-recurring operating income | 76A | €42,209 | €42,209 | -€0 | 0.0% |
| Remuneration, social security and pensions | 62 | €18,184 | €28,572 | +€10,388 | +57.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,342 | €64,431 | +€5,089 | +8.6% |
| Other operating charges | 640/8 | €3,287 | €4,680 | +€1,392 | +42.4% |
| Gross operating margin | 9900 | €108,939 | €103,430 | -€5,509 | -5.1% |
| Operating profit (loss) | 9901 | €28,125 | €5,747 | -€22,378 | -79.6% |
| Financial income | 75/76B | €250 | €67 | -€182 | -73.0% |
| Recurring financial income | 75 | €250 | €67 | -€182 | -73.0% |
| Financial charges | 65/66B | €1,085 | €1,284 | +€200 | +18.4% |
| Recurring financial charges | 65 | €1,085 | €1,284 | +€200 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | €27,291 | €4,530 | -€22,760 | -83.4% |
| Income taxes | 67/77 | €6,025 | €2,403 | -€3,622 | -60.1% |
| Profit (loss) for the period | 9904 | €21,265 | €2,127 | -€19,138 | -90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,265 | €2,127 | -€19,138 | -90.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.