Phoenix T.A.: 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 T.A.
Largest movements
- Receivables within one year -€36,904
down €36,904 (-39.0%), from €94,528 to €57,624
of which Trade receivables: -€48,199
- Tangible fixed assets -€9,922
down €9,922 (-4.2%), from €235,190 to €225,268
of which Land and buildings: -€12,936
- Deferred charges and accrued income +€8,615
new in 2025: €8,615
- Debts after one year -€15,816
down €15,816 (-9.7%), from €162,293 to €146,476
- Other debts -€15,280
no longer reported in 2025 (was €15,280)
- Profit (loss) carried forward +€9,428
up €9,428, from -€493 to €8,935
- Reserves -€8,004
down €8,004 (-12.3%), from €64,936 to €56,932
- Trade debts -€6,119
down €6,119 (-52.2%), from €11,721 to €5,602
- Gross operating margin -€14,157
down €14,157 (-38.8%), from €36,521 to €22,364
- Financial income -€761
down €761 (-55.0%), from €1,383 to €623
of which Non-recurring financial income: -€1,383
- Taxes -€662
down €662 (-16.3%), from €4,064 to €3,402
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 | €331,491 | €292,680 | -€38,811 | -11.7% |
| Fixed assets | 21/28 | €235,190 | €225,268 | -€9,922 | -4.2% |
| Tangible fixed assets | 22/27 | €235,190 | €225,268 | -€9,922 | -4.2% |
| Land and buildings | 22 | €232,122 | €219,186 | -€12,936 | -5.6% |
| Plant, machinery and equipment | 23 | €2,631 | €1,495 | -€1,137 | -43.2% |
| Furniture and vehicles | 24 | €437 | €4,588 | +€4,151 | +949% |
| Current assets | 29/58 | €96,301 | €67,411 | -€28,889 | -30.0% |
| Amounts receivable within one year | 40/41 | €94,528 | €57,624 | -€36,904 | -39.0% |
| Trade receivables | 40 | €91,349 | €43,150 | -€48,199 | -52.8% |
| Other amounts receivable | 41 | €3,179 | €14,474 | +€11,295 | +355% |
| Cash at bank and in hand | 54/58 | €1,772 | €1,172 | -€601 | -33.9% |
| Deferred charges and accrued income | 490/1 | - | €8,615 | +€8,615 | |
| Total equity and liabilities | 10/49 | €331,491 | €292,680 | -€38,811 | -11.7% |
| Equity | 10/15 | €83,043 | €84,467 | +€1,424 | +1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €64,936 | €56,932 | -€8,004 | -12.3% |
| Tax-exempt reserves | 132 | €64,936 | €56,932 | -€8,004 | -12.3% |
| Profit (loss) carried forward | 14 | -€493 | €8,935 | +€9,428 | |
| Provisions and deferred taxes | 16 | €36,931 | €32,808 | -€4,123 | -11.2% |
| Deferred taxes | 168 | €36,931 | €32,808 | -€4,123 | -11.2% |
| Amounts payable | 17/49 | €211,517 | €175,405 | -€36,112 | -17.1% |
| Amounts payable after more than one year | 17 | €162,293 | €146,476 | -€15,816 | -9.7% |
| Financial debts | 170/4 | €162,293 | €146,476 | -€15,816 | -9.7% |
| Amounts payable within one year | 42/48 | €49,224 | €28,928 | -€20,296 | -41.2% |
| Current portion of amounts payable after more than one year | 42 | €15,502 | €15,816 | +€314 | +2.0% |
| Trade debts | 44 | €11,721 | €5,602 | -€6,119 | -52.2% |
| Suppliers | 440/4 | €11,721 | €5,602 | -€6,119 | -52.2% |
| Taxes, remuneration and social security | 45 | €6,721 | €7,511 | +€789 | +11.7% |
| Taxes | 450/3 | €6,721 | €7,511 | +€789 | +11.7% |
| Other amounts payable | 47/48 | €15,280 | - | -€15,280 | |
| Non-recurring operating income | 76A | - | €3,130 | +€3,130 | |
| Remuneration, social security and pensions | 62 | - | €364 | +€364 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,681 | €14,703 | +€22 | +0.1% |
| Other operating charges | 640/8 | €1,741 | €2,085 | +€344 | +19.7% |
| Gross operating margin | 9900 | €36,521 | €22,364 | -€14,157 | -38.8% |
| Operating profit (loss) | 9901 | €20,099 | €5,213 | -€14,886 | -74.1% |
| Financial income | 75/76B | €1,383 | €623 | -€761 | -55.0% |
| Recurring financial income | 75 | €0 | €623 | +€623 | +6,225,300% |
| Non-recurring financial income | 76B | €1,383 | - | -€1,383 | |
| Financial charges | 65/66B | €5,403 | €5,132 | -€270 | -5.0% |
| Recurring financial charges | 65 | €5,403 | €5,132 | -€270 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €16,079 | €703 | -€15,376 | -95.6% |
| Transfer from deferred taxes | 780 | - | €4,123 | +€4,123 | |
| Income taxes | 67/77 | €4,064 | €3,402 | -€662 | -16.3% |
| Profit (loss) for the period | 9904 | €12,015 | €1,424 | -€10,591 | -88.1% |
| Transfer from tax-exempt reserves | 789 | - | €8,004 | +€8,004 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,015 | €9,428 | -€2,587 | -21.5% |
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 29 October 2026 via checked.be.