PHISO: what changed
PHISO
Largest movements
- Cash +€44,144
up €44,144 (+29.8%), from €148,319 to €192,464
mainly Net result for the year (+€44,954) and Tax, wage and social debts (+€2,381)
- Reserves +€44,954
up €44,954 (+37.8%), from €119,027 to €163,980
of which Distributable reserves: +€44,954
- Accrued charges and deferred income -€3,358
down €3,358 (-61.8%), from €5,437 to €2,079
- Trade debts -€2,973
down €2,973 (-37.8%), from €7,858 to €4,885
- Tax, wage and social debts +€2,381
up €2,381 (+41.6%), from €5,726 to €8,107
of which Taxes: +€2,381
- Gross operating margin +€11,594
up €11,594 (+20.2%), from €57,356 to €68,950
- Taxes +€3,128
up €3,128 (+22.2%), from €14,092 to €17,220
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €185,184 | €228,066 | +€42,882 | +23.2% |
| Current assets | 29/58 | €185,184 | €228,066 | +€42,882 | +23.2% |
| Amounts receivable within one year | 40/41 | €26,062 | €26,671 | +€608 | +2.3% |
| Trade receivables | 40 | €25,614 | €26,253 | +€640 | +2.5% |
| Other amounts receivable | 41 | €448 | €417 | -€31 | -7.0% |
| Cash at bank and in hand | 54/58 | €148,319 | €192,464 | +€44,144 | +29.8% |
| Deferred charges and accrued income | 490/1 | €10,802 | €8,931 | -€1,871 | -17.3% |
| Total equity and liabilities | 10/49 | €185,184 | €228,066 | +€42,882 | +23.2% |
| Equity | 10/15 | €137,619 | €182,572 | +€44,954 | +32.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €119,027 | €163,980 | +€44,954 | +37.8% |
| Tax-exempt reserves | 132 | €27,000 | €27,000 | = | 0.0% |
| Distributable reserves | 133 | €92,027 | €136,980 | +€44,954 | +48.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €47,565 | €45,493 | -€2,071 | -4.4% |
| Amounts payable within one year | 42/48 | €42,128 | €43,414 | +€1,286 | +3.1% |
| Financial debts | 43 | €117 | €106 | -€11 | -9.6% |
| Credit institutions | 430/8 | €117 | €106 | -€11 | -9.6% |
| Trade debts | 44 | €7,858 | €4,885 | -€2,973 | -37.8% |
| Suppliers | 440/4 | €7,858 | €4,885 | -€2,973 | -37.8% |
| Taxes, remuneration and social security | 45 | €5,726 | €8,107 | +€2,381 | +41.6% |
| Taxes | 450/3 | €2,851 | €5,232 | +€2,381 | +83.5% |
| Remuneration and social security | 454/9 | €2,875 | €2,875 | = | 0.0% |
| Other amounts payable | 47/48 | €28,426 | €30,316 | +€1,889 | +6.6% |
| Accrued charges and deferred income | 492/3 | €5,437 | €2,079 | -€3,358 | -61.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €4,165 | €4,339 | +€174 | +4.2% |
| Gross operating margin | 9900 | €57,356 | €68,950 | +€11,594 | +20.2% |
| Operating profit (loss) | 9901 | €53,190 | €64,611 | +€11,421 | +21.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | +50.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +50.0% |
| Financial charges | 65/66B | €2,695 | €2,437 | -€258 | -9.6% |
| Recurring financial charges | 65 | €2,695 | €2,437 | -€258 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €50,495 | €62,174 | +€11,679 | +23.1% |
| Income taxes | 67/77 | €14,092 | €17,220 | +€3,128 | +22.2% |
| Profit (loss) for the period | 9904 | €36,403 | €44,954 | +€8,550 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,403 | €44,954 | +€8,550 | +23.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.