PHSR SPRL: 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.
PHSR SPRL
Largest movements
- Tangible fixed assets -€4,030
down €4,030 (-11.7%), from €34,436 to €30,406
of which Land and buildings: -€3,162
- Receivables within one year -€2,233
down €2,233 (-47.4%), from €4,715 to €2,482
of which Trade receivables: -€1,743
- Cash -€2,022
down €2,022 (-58.1%), from €3,479 to €1,458
mainly Net result for the year (-€9,446) and Investment in fixed assets (net) (-€2,762)
- Deferred charges and accrued income -€740
down €740 (-42.6%), from €1,736 to €996
- Profit (loss) carried forward -€9,446
down €9,446 (-7.8%), from -€121,247 to -€130,694
- Debts after one year +€3,188
up €3,188 (+2.5%), from €125,875 to €129,063
of which Other amounts payable: +€10,800
- Trade debts -€2,760
down €2,760 (-41.1%), from €6,714 to €3,954
- Tax, wage and social debts -€791
down €791 (-5.4%), from €14,692 to €13,901
of which Taxes: -€857
- Gross operating margin -€24,950
down €24,950 (-19.1%), from €130,307 to €105,358
- Staff costs -€5,476
down €5,476 (-5.1%), from €107,827 to €102,352
- Financial charges -€2,431
down €2,431 (-37.3%), from €6,516 to €4,085
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 | €52,781 | €43,342 | -€9,439 | -17.9% |
| Fixed assets | 21/28 | €35,286 | €31,256 | -€4,030 | -11.4% |
| Tangible fixed assets | 22/27 | €34,436 | €30,406 | -€4,030 | -11.7% |
| Land and buildings | 22 | €26,015 | €22,853 | -€3,162 | -12.2% |
| Plant, machinery and equipment | 23 | €4,274 | €2,560 | -€1,714 | -40.1% |
| Furniture and vehicles | 24 | €4,147 | €4,993 | +€846 | +20.4% |
| Financial fixed assets | 28 | €850 | €850 | = | 0.0% |
| Current assets | 29/58 | €17,495 | €12,086 | -€5,409 | -30.9% |
| Stocks and contracts in progress | 3 | €7,565 | €7,150 | -€415 | -5.5% |
| Stocks | 30/36 | €7,565 | €7,150 | -€415 | -5.5% |
| Amounts receivable within one year | 40/41 | €4,715 | €2,482 | -€2,233 | -47.4% |
| Trade receivables | 40 | €3,252 | €1,509 | -€1,743 | -53.6% |
| Other amounts receivable | 41 | €1,463 | €973 | -€490 | -33.5% |
| Cash at bank and in hand | 54/58 | €3,479 | €1,458 | -€2,022 | -58.1% |
| Deferred charges and accrued income | 490/1 | €1,736 | €996 | -€740 | -42.6% |
| Total equity and liabilities | 10/49 | €52,781 | €43,342 | -€9,439 | -17.9% |
| Equity | 10/15 | -€102,647 | -€112,094 | -€9,446 | -9.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,247 | -€130,694 | -€9,446 | -7.8% |
| Amounts payable | 17/49 | €155,428 | €155,436 | +€7 | 0.0% |
| Amounts payable after more than one year | 17 | €125,875 | €129,063 | +€3,188 | +2.5% |
| Financial debts | 170/4 | €13,571 | €5,959 | -€7,612 | -56.1% |
| Other amounts payable | 178/9 | €112,304 | €123,104 | +€10,800 | +9.6% |
| Amounts payable within one year | 42/48 | €29,553 | €26,372 | -€3,181 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €7,247 | €7,612 | +€365 | +5.0% |
| Trade debts | 44 | €6,714 | €3,954 | -€2,760 | -41.1% |
| Suppliers | 440/4 | €6,714 | €3,954 | -€2,760 | -41.1% |
| Taxes, remuneration and social security | 45 | €14,692 | €13,901 | -€791 | -5.4% |
| Taxes | 450/3 | €5,824 | €4,968 | -€857 | -14.7% |
| Remuneration and social security | 454/9 | €8,868 | €8,933 | +€65 | +0.7% |
| Other amounts payable | 47/48 | €899 | €905 | +€7 | +0.7% |
| Remuneration, social security and pensions | 62 | €107,827 | €102,352 | -€5,476 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,652 | €6,792 | +€139 | +2.1% |
| Other operating charges | 640/8 | €1,711 | €1,434 | -€277 | -16.2% |
| Non-recurring operating charges | 66A | €303 | €78 | -€225 | -74.2% |
| Gross operating margin | 9900 | €130,307 | €105,358 | -€24,950 | -19.1% |
| Operating profit (loss) | 9901 | €13,815 | -€5,297 | -€19,112 | |
| Financial income | 75/76B | €215 | €88 | -€127 | -58.9% |
| Recurring financial income | 75 | €215 | €88 | -€127 | -58.9% |
| Financial charges | 65/66B | €6,516 | €4,085 | -€2,431 | -37.3% |
| Recurring financial charges | 65 | €6,516 | €4,085 | -€2,431 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €7,514 | -€9,294 | -€16,808 | |
| Income taxes | 67/77 | €157 | €153 | -€4 | -2.8% |
| Profit (loss) for the period | 9904 | €7,357 | -€9,446 | -€16,803 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,357 | -€9,446 | -€16,803 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.