PHRONESIS: 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.
PHRONESIS
Largest movements
- Receivables within one year -€10,419
down €10,419 (-46.6%), from €22,344 to €11,925
- Cash +€8,894
up €8,894 (+6009.0%), from €148 to €9,042
mainly Receivables within one year (+€10,419)
- Reserves -€1,379
down €1,379 (-42.6%), from €3,239 to €1,860
- Gross operating margin +€2,383
up €2,383 (+55.9%), from -€4,266 to -€1,883
- Financial income -€339
down €339 (-23.6%), from €1,438 to €1,099
- Other operating charges +€208
up €208 (+53.7%), from €387 to €595
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 | €22,492 | €20,967 | -€1,526 | -6.8% |
| Current assets | 29/58 | €22,492 | €20,967 | -€1,526 | -6.8% |
| Amounts receivable within one year | 40/41 | €22,344 | €11,925 | -€10,419 | -46.6% |
| Other amounts receivable | 41 | €22,344 | €11,925 | -€10,419 | -46.6% |
| Cash at bank and in hand | 54/58 | €148 | €9,042 | +€8,894 | +6009.0% |
| Total equity and liabilities | 10/49 | €22,492 | €20,967 | -€1,526 | -6.8% |
| Equity | 10/15 | €21,839 | €20,385 | -€1,453 | -6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €3,239 | €1,860 | -€1,379 | -42.6% |
| Distributable reserves | 133 | €3,239 | €1,860 | -€1,379 | -42.6% |
| Profit (loss) carried forward | 14 | - | -€75 | -€75 | |
| Amounts payable | 17/49 | €653 | €581 | -€72 | -11.0% |
| Accrued charges and deferred income | 492/3 | €653 | €581 | -€72 | -11.0% |
| Other operating charges | 640/8 | €387 | €595 | +€208 | +53.7% |
| Gross operating margin | 9900 | -€4,266 | -€1,883 | +€2,383 | +55.9% |
| Operating profit (loss) | 9901 | -€4,653 | -€2,479 | +€2,175 | +46.7% |
| Financial income | 75/76B | €1,438 | €1,099 | -€339 | -23.6% |
| Recurring financial income | 75 | €1,438 | €1,099 | -€339 | -23.6% |
| Financial charges | 65/66B | €87 | €72 | -€15 | -17.4% |
| Recurring financial charges | 65 | €87 | €72 | -€15 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,303 | -€1,452 | +€1,851 | +56.0% |
| Income taxes | 67/77 | €0 | €1 | +€1 | +317.1% |
| Profit (loss) for the period | 9904 | -€3,303 | -€1,453 | +€1,850 | +56.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,303 | -€1,453 | +€1,850 | +56.0% |
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 6 October 2026 via checked.be.