PHOTON: 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.
PHOTON
Largest movements
- Tangible fixed assets -€18,156
down €18,156 (-16.4%), from €111,013 to €92,857
of which Land and buildings: -€10,779
- Receivables within one year -€1,602
down €1,602 (-14.9%), from €10,719 to €9,117
of which Trade receivables: -€5,914
- Trade debts -€12,229
down €12,229 (-59.1%), from €20,704 to €8,475
- Other debts -€6,854
down €6,854 (-12.6%), from €54,429 to €47,575
- Short-term financial debts +€6,453
new in 2024: €6,453
- Profit (loss) carried forward -€6,096
down €6,096 (-7.4%), from -€82,550 to -€88,646
- Debts after one year -€3,372
down €3,372 (-28.4%), from €11,870 to €8,499
- Gross operating margin +€27,422
up €27,422, from -€16,218 to €11,204
- Financial charges +€2,136
up €2,136 (+62.6%), from €3,412 to €5,548
- Other operating charges -€1,241
down €1,241 (-71.8%), from €1,730 to €489
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €122,399 | €102,124 | -€20,275 | -16.6% |
| Fixed assets | 21/28 | €111,163 | €93,007 | -€18,156 | -16.3% |
| Tangible fixed assets | 22/27 | €111,013 | €92,857 | -€18,156 | -16.4% |
| Land and buildings | 22 | €83,359 | €72,580 | -€10,779 | -12.9% |
| Plant, machinery and equipment | 23 | €25,170 | €18,700 | -€6,470 | -25.7% |
| Furniture and vehicles | 24 | €2,485 | €1,577 | -€908 | -36.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €11,236 | €9,117 | -€2,119 | -18.9% |
| Amounts receivable within one year | 40/41 | €10,719 | €9,117 | -€1,602 | -14.9% |
| Trade receivables | 40 | €7,901 | €1,987 | -€5,914 | -74.8% |
| Other amounts receivable | 41 | €2,817 | €7,130 | +€4,312 | +153.0% |
| Cash at bank and in hand | 54/58 | €517 | - | -€517 | |
| Total equity and liabilities | 10/49 | €122,399 | €102,124 | -€20,275 | -16.6% |
| Equity | 10/15 | €29,417 | €23,322 | -€6,096 | -20.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €49,967 | €49,967 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,799 | €5,799 | = | 0.0% |
| Legal reserve | 130 | €5,799 | €5,799 | = | 0.0% |
| Distributable reserves | 133 | €44,168 | €44,168 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,550 | -€88,646 | -€6,096 | -7.4% |
| Amounts payable | 17/49 | €92,982 | €78,803 | -€14,179 | -15.2% |
| Amounts payable after more than one year | 17 | €11,870 | €8,499 | -€3,372 | -28.4% |
| Financial debts | 170/4 | €11,870 | €8,499 | -€3,372 | -28.4% |
| Amounts payable within one year | 42/48 | €81,112 | €70,304 | -€10,808 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €3,333 | €3,445 | +€112 | +3.4% |
| Financial debts | 43 | - | €6,453 | +€6,453 | |
| Credit institutions | 430/8 | - | €6,453 | +€6,453 | |
| Trade debts | 44 | €20,704 | €8,475 | -€12,229 | -59.1% |
| Suppliers | 440/4 | €20,704 | €8,475 | -€12,229 | -59.1% |
| Taxes, remuneration and social security | 45 | €2,646 | €4,356 | +€1,710 | +64.6% |
| Taxes | 450/3 | €2,646 | €4,356 | +€1,710 | +64.6% |
| Other amounts payable | 47/48 | €54,429 | €47,575 | -€6,854 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,273 | €11,156 | -€117 | -1.0% |
| Other operating charges | 640/8 | €1,730 | €489 | -€1,241 | -71.8% |
| Gross operating margin | 9900 | -€16,218 | €11,204 | +€27,422 | |
| Operating profit (loss) | 9901 | -€29,221 | -€441 | +€28,781 | +98.5% |
| Financial income | 75/76B | €42 | €63 | +€21 | +48.6% |
| Recurring financial income | 75 | €42 | €63 | +€21 | +48.6% |
| Financial charges | 65/66B | €3,412 | €5,548 | +€2,136 | +62.6% |
| Recurring financial charges | 65 | €3,412 | €5,548 | +€2,136 | +62.6% |
| Profit (loss) for the period before taxes | 9903 | -€32,591 | -€5,925 | +€26,666 | +81.8% |
| Income taxes | 67/77 | €108 | €170 | +€62 | +57.4% |
| Profit (loss) for the period | 9904 | -€32,699 | -€6,096 | +€26,604 | +81.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,699 | -€6,096 | +€26,604 | +81.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.