PHOENIX TRADING: 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 TRADING
Largest movements
- Receivables within one year -€379,638
down €379,638 (-48.0%), from €790,335 to €410,697
of which Other amounts receivable: -€372,978
- Stocks and contracts +€87,759
up €87,759 (+3.2%), from €2.8m to €2.8m
- Other debts -€363,860
down €363,860 (-29.0%), from €1.3m to €890,824
- Reserves +€113,409
up €113,409 (+3.8%), from €3.0m to €3.1m
of which Distributable reserves: +€113,409
- Financial charges -€200,407
down €200,407, from €137,675 to -€62,732
- Financial income -€86,871
down €86,871 (-62.0%), from €140,125 to €53,255
- Gross operating margin +€36,356
up €36,356, from -€18,632 to €17,724
- Other operating charges +€4,444
up €4,444 (+66.1%), from €6,727 to €11,171
- Taxes +€2,290
up €2,290, from -€248 to €2,042
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 | €4,669,655 | €4,404,858 | -€264,798 | -5.7% |
| Fixed assets | 21/28 | €80,960 | €73,871 | -€7,089 | -8.8% |
| Tangible fixed assets | 22/27 | €80,910 | €73,821 | -€7,089 | -8.8% |
| Furniture and vehicles | 24 | €20,276 | €15,017 | -€5,259 | -25.9% |
| Other tangible fixed assets | 26 | €60,633 | €58,804 | -€1,829 | -3.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €4,588,696 | €4,330,987 | -€257,709 | -5.6% |
| Stocks and contracts in progress | 3 | €2,756,237 | €2,843,996 | +€87,759 | +3.2% |
| Stocks | 30/36 | €2,756,237 | €2,843,996 | +€87,759 | +3.2% |
| Amounts receivable within one year | 40/41 | €790,335 | €410,697 | -€379,638 | -48.0% |
| Trade receivables | 40 | €6,660 | €0 | -€6,660 | -100% |
| Other amounts receivable | 41 | €783,675 | €410,697 | -€372,978 | -47.6% |
| Current investments | 50/53 | €522,593 | €536,034 | +€13,442 | +2.6% |
| Cash at bank and in hand | 54/58 | €518,416 | €539,102 | +€20,686 | +4.0% |
| Deferred charges and accrued income | 490/1 | €1,115 | €1,157 | +€43 | +3.8% |
| Total equity and liabilities | 10/49 | €4,669,655 | €4,404,858 | -€264,798 | -5.7% |
| Equity | 10/15 | €3,373,096 | €3,486,506 | +€113,409 | +3.4% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €3,023,096 | €3,136,506 | +€113,409 | +3.8% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Legal reserve | 130 | €35,000 | €35,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €175,106 | €175,106 | = | 0.0% |
| Distributable reserves | 133 | €2,812,990 | €2,926,400 | +€113,409 | +4.0% |
| Amounts payable | 17/49 | €1,296,559 | €918,352 | -€378,207 | -29.2% |
| Amounts payable within one year | 42/48 | €1,286,559 | €913,352 | -€373,207 | -29.0% |
| Trade debts | 44 | €22,656 | €7,979 | -€14,677 | -64.8% |
| Suppliers | 440/4 | €22,656 | €7,979 | -€14,677 | -64.8% |
| Taxes, remuneration and social security | 45 | €9,220 | €14,549 | +€5,330 | +57.8% |
| Taxes | 450/3 | €9,220 | €14,549 | +€5,330 | +57.8% |
| Other amounts payable | 47/48 | €1,254,683 | €890,824 | -€363,860 | -29.0% |
| Accrued charges and deferred income | 492/3 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,089 | €7,089 | = | 0.0% |
| Other operating charges | 640/8 | €6,727 | €11,171 | +€4,444 | +66.1% |
| Gross operating margin | 9900 | -€18,632 | €17,724 | +€36,356 | |
| Operating profit (loss) | 9901 | -€32,447 | -€535 | +€31,912 | +98.4% |
| Financial income | 75/76B | €140,125 | €53,255 | -€86,871 | -62.0% |
| Recurring financial income | 75 | €140,125 | €53,255 | -€86,871 | -62.0% |
| Financial charges | 65/66B | €137,675 | -€62,732 | -€200,407 | |
| Recurring financial charges | 65 | €137,675 | -€62,732 | -€200,407 | |
| Profit (loss) for the period before taxes | 9903 | -€29,997 | €115,452 | +€145,449 | |
| Income taxes | 67/77 | -€248 | €2,042 | +€2,290 | |
| Profit (loss) for the period | 9904 | -€29,749 | €113,409 | +€143,159 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,749 | €113,409 | +€143,159 |
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 18 October 2026 via checked.be.