PHS MANAGEMENT: 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.
PHS MANAGEMENT
Largest movements
- Receivables within one year -€157,711
down €157,711 (-45.8%), from €344,163 to €186,452
- Cash -€24,320
down €24,320 (-52.9%), from €45,978 to €21,658
mainly Contributions, distributions and other (-€320,000)
- Profit (loss) carried forward -€257,040
down €257,040 (-74.4%), from €345,685 to €88,645
- Other debts +€70,000
new in 2025: €70,000
- Financial income -€10,615
down €10,615 (-53.7%), from €19,777 to €9,162
- Gross operating margin -€9,399
down €9,399 (-11.1%), from €84,311 to €74,911
- Taxes -€5,068
down €5,068 (-22.5%), from €22,519 to €17,451
- Financial charges +€1,440
up €1,440 (+90.2%), from €1,596 to €3,035
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 | €412,068 | €226,418 | -€185,649 | -45.1% |
| Fixed assets | 21/28 | €155 | - | -€155 | |
| Tangible fixed assets | 22/27 | €155 | - | -€155 | |
| Furniture and vehicles | 24 | €155 | - | -€155 | |
| Current assets | 29/58 | €411,912 | €226,418 | -€185,494 | -45.0% |
| Amounts receivable within one year | 40/41 | €344,163 | €186,452 | -€157,711 | -45.8% |
| Other amounts receivable | 41 | €344,163 | €186,452 | -€157,711 | -45.8% |
| Cash at bank and in hand | 54/58 | €45,978 | €21,658 | -€24,320 | -52.9% |
| Deferred charges and accrued income | 490/1 | €21,772 | €18,308 | -€3,463 | -15.9% |
| Total equity and liabilities | 10/49 | €412,068 | €226,418 | -€185,649 | -45.1% |
| Equity | 10/15 | €366,145 | €109,105 | -€257,040 | -70.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €345,685 | €88,645 | -€257,040 | -74.4% |
| Amounts payable | 17/49 | €45,923 | €117,313 | +€71,390 | +155% |
| Amounts payable within one year | 42/48 | €45,307 | €116,746 | +€71,439 | +158% |
| Trade debts | 44 | €595 | €1,303 | +€709 | +119% |
| Suppliers | 440/4 | €595 | €1,303 | +€709 | +119% |
| Taxes, remuneration and social security | 45 | €44,713 | €45,443 | +€730 | +1.6% |
| Taxes | 450/3 | €44,713 | €45,443 | +€730 | +1.6% |
| Other amounts payable | 47/48 | - | €70,000 | +€70,000 | |
| Accrued charges and deferred income | 492/3 | €616 | €567 | -€49 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €298 | €155 | -€143 | -47.9% |
| Other operating charges | 640/8 | €466 | €471 | +€5 | +1.0% |
| Gross operating margin | 9900 | €84,311 | €74,911 | -€9,399 | -11.1% |
| Operating profit (loss) | 9901 | €83,546 | €74,285 | -€9,261 | -11.1% |
| Financial income | 75/76B | €19,777 | €9,162 | -€10,615 | -53.7% |
| Recurring financial income | 75 | €19,777 | €9,162 | -€10,615 | -53.7% |
| Financial charges | 65/66B | €1,596 | €3,035 | +€1,440 | +90.2% |
| Recurring financial charges | 65 | €1,596 | €3,035 | +€1,440 | +90.2% |
| Profit (loss) for the period before taxes | 9903 | €101,727 | €80,411 | -€21,316 | -21.0% |
| Income taxes | 67/77 | €22,519 | €17,451 | -€5,068 | -22.5% |
| Profit (loss) for the period | 9904 | €79,208 | €62,960 | -€16,248 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €79,208 | €62,960 | -€16,248 | -20.5% |
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 18 October 2026 via checked.be.