PhRAse: 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.
PhRAse
Largest movements
- Receivables within one year +€14,460
up €14,460 (+113.3%), from €12,768 to €27,229
of which Trade receivables: +€14,546
- Cash +€9,269
up €9,269 (+7.0%), from €132,704 to €141,973
mainly Other debts (+€62,822) and Net result for the year (+€24,848)
- Deferred charges and accrued income -€2,553
down €2,553 (-59.1%), from €4,318 to €1,765
- Other debts +€62,822
up €62,822 (+1566.0%), from €4,012 to €66,834
- Reserves -€43,187
down €43,187 (-31.3%), from €137,965 to €94,778
- Gross operating margin -€7,509
down €7,509 (-17.3%), from €43,362 to €35,853
- Taxes +€2,962
up €2,962 (+40.6%), from €7,296 to €10,259
- Depreciation -€812
down €812 (-74.7%), from €1,087 to €275
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €151,297 | €172,199 | +€20,902 | +13.8% |
| Fixed assets | 21/28 | €1,507 | €1,233 | -€275 | -18.2% |
| Tangible fixed assets | 22/27 | €1,507 | €1,233 | -€275 | -18.2% |
| Plant, machinery and equipment | 23 | €1,507 | €1,233 | -€275 | -18.2% |
| Current assets | 29/58 | €149,790 | €170,966 | +€21,176 | +14.1% |
| Amounts receivable within one year | 40/41 | €12,768 | €27,229 | +€14,460 | +113.3% |
| Trade receivables | 40 | €12,683 | €27,229 | +€14,546 | +114.7% |
| Other amounts receivable | 41 | €85 | - | -€85 | |
| Cash at bank and in hand | 54/58 | €132,704 | €141,973 | +€9,269 | +7.0% |
| Deferred charges and accrued income | 490/1 | €4,318 | €1,765 | -€2,553 | -59.1% |
| Total equity and liabilities | 10/49 | €151,297 | €172,199 | +€20,902 | +13.8% |
| Equity | 10/15 | €138,165 | €94,978 | -€43,187 | -31.3% |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €137,965 | €94,778 | -€43,187 | -31.3% |
| Distributable reserves | 133 | €137,965 | €94,778 | -€43,187 | -31.3% |
| Amounts payable | 17/49 | €13,132 | €77,221 | +€64,088 | +488.0% |
| Amounts payable within one year | 42/48 | €13,132 | €77,221 | +€64,088 | +488.0% |
| Trade debts | 44 | €68 | €57 | -€10 | -15.2% |
| Suppliers | 440/4 | €68 | €57 | -€10 | -15.2% |
| Taxes, remuneration and social security | 45 | €9,053 | €10,329 | +€1,277 | +14.1% |
| Taxes | 450/3 | €9,053 | €10,329 | +€1,277 | +14.1% |
| Other amounts payable | 47/48 | €4,012 | €66,834 | +€62,822 | +1566.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,087 | €275 | -€812 | -74.7% |
| Other operating charges | 640/8 | €910 | €937 | +€27 | +2.9% |
| Gross operating margin | 9900 | €43,362 | €35,853 | -€7,509 | -17.3% |
| Operating profit (loss) | 9901 | €41,365 | €34,642 | -€6,723 | -16.3% |
| Financial income | 75/76B | €366 | €510 | +€144 | +39.5% |
| Recurring financial income | 75 | €366 | €510 | +€144 | +39.5% |
| Financial charges | 65/66B | €149 | €46 | -€103 | -69.4% |
| Recurring financial charges | 65 | €149 | €46 | -€103 | -69.4% |
| Profit (loss) for the period before taxes | 9903 | €41,582 | €35,106 | -€6,476 | -15.6% |
| Income taxes | 67/77 | €7,296 | €10,259 | +€2,962 | +40.6% |
| Profit (loss) for the period | 9904 | €34,285 | €24,848 | -€9,438 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,285 | €24,848 | -€9,438 | -27.5% |
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 29 September 2026 via checked.be.