PHILIDEL: 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.
PHILIDEL
Largest movements
- Receivables within one year +€292,510
up €292,510 (+200.6%), from €145,795 to €438,305
of which Trade receivables: +€311,968
- Tangible fixed assets +€150,508
up €150,508 (+19.8%), from €762,060 to €912,569
of which Furniture and vehicles: +€167,379
- Cash +€41,503
up €41,503 (+914.0%), from €4,541 to €46,044
mainly Trade debts (+€192,913) and Depreciation (+€178,438)
- Trade debts +€192,913
up €192,913 (+102.7%), from €187,807 to €380,720
- Debts after one year +€84,607
up €84,607 (+25.1%), from €337,658 to €422,265
- Short-term financial debts +€54,771
up €54,771 (+447.9%), from €12,229 to €67,000
- Other debts +€45,809
up €45,809 (+23.6%), from €194,023 to €239,832
- Current portion of long-term debt +€33,285
up €33,285 (+21.9%), from €151,730 to €185,015
- Gross operating margin +€320,989
up €320,989 (+51.1%), from €627,771 to €948,760
- Staff costs +€221,910
up €221,910 (+47.7%), from €465,416 to €687,326
- Depreciation +€58,919
up €58,919 (+49.3%), from €119,519 to €178,438
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 | €1,733,492 | €2,188,975 | +€455,483 | +26.3% |
| Fixed assets | 21/28 | €1,493,987 | €1,630,495 | +€136,508 | +9.1% |
| Tangible fixed assets | 22/27 | €762,060 | €912,569 | +€150,508 | +19.8% |
| Land and buildings | 22 | €379,374 | €362,503 | -€16,871 | -4.4% |
| Furniture and vehicles | 24 | €382,686 | €550,065 | +€167,379 | +43.7% |
| Financial fixed assets | 28 | €731,926 | €717,926 | -€14,000 | -1.9% |
| Current assets | 29/58 | €239,505 | €558,480 | +€318,975 | +133.2% |
| Stocks and contracts in progress | 3 | €47,609 | €50,642 | +€3,033 | +6.4% |
| Stocks | 30/36 | €47,609 | €50,642 | +€3,033 | +6.4% |
| Amounts receivable within one year | 40/41 | €145,795 | €438,305 | +€292,510 | +200.6% |
| Trade receivables | 40 | €113,901 | €425,870 | +€311,968 | +273.9% |
| Other amounts receivable | 41 | €31,894 | €12,436 | -€19,458 | -61.0% |
| Cash at bank and in hand | 54/58 | €4,541 | €46,044 | +€41,503 | +914.0% |
| Deferred charges and accrued income | 490/1 | €41,560 | €23,489 | -€18,071 | -43.5% |
| Total equity and liabilities | 10/49 | €1,733,492 | €2,188,975 | +€455,483 | +26.3% |
| Equity | 10/15 | €769,589 | €812,490 | +€42,901 | +5.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €325,489 | €357,191 | +€31,702 | +9.7% |
| Tax-exempt reserves | 132 | €29,629 | €26,331 | -€3,298 | -11.1% |
| Distributable reserves | 133 | €295,860 | €330,860 | +€35,000 | +11.8% |
| Profit (loss) carried forward | 14 | €425,693 | €426,069 | +€376 | +0.1% |
| Investment grants | 15 | €6,007 | €16,830 | +€10,823 | +180.2% |
| Provisions and deferred taxes | 16 | €9,883 | €8,784 | -€1,099 | -11.1% |
| Deferred taxes | 168 | €9,883 | €8,784 | -€1,099 | -11.1% |
| Amounts payable | 17/49 | €954,020 | €1,367,702 | +€413,682 | +43.4% |
| Amounts payable after more than one year | 17 | €337,658 | €422,265 | +€84,607 | +25.1% |
| Financial debts | 170/4 | €337,658 | €422,265 | +€84,607 | +25.1% |
| Amounts payable within one year | 42/48 | €616,362 | €945,437 | +€329,075 | +53.4% |
| Current portion of amounts payable after more than one year | 42 | €151,730 | €185,015 | +€33,285 | +21.9% |
| Financial debts | 43 | €12,229 | €67,000 | +€54,771 | +447.9% |
| Credit institutions | 430/8 | €12,229 | €67,000 | +€54,771 | +447.9% |
| Trade debts | 44 | €187,807 | €380,720 | +€192,913 | +102.7% |
| Suppliers | 440/4 | €187,807 | €380,720 | +€192,913 | +102.7% |
| Taxes, remuneration and social security | 45 | €70,573 | €72,870 | +€2,297 | +3.3% |
| Taxes | 450/3 | €23,444 | €72,870 | +€49,427 | +210.8% |
| Remuneration and social security | 454/9 | €47,129 | - | -€47,129 | |
| Other amounts payable | 47/48 | €194,023 | €239,832 | +€45,809 | +23.6% |
| Remuneration, social security and pensions | 62 | €465,416 | €687,326 | +€221,910 | +47.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,519 | €178,438 | +€58,919 | +49.3% |
| Other operating charges | 640/8 | €12,181 | €20,774 | +€8,593 | +70.5% |
| Gross operating margin | 9900 | €627,771 | €948,760 | +€320,989 | +51.1% |
| Operating profit (loss) | 9901 | €30,655 | €62,223 | +€31,568 | +103.0% |
| Financial income | 75/76B | €793 | €9,528 | +€8,734 | +1101.0% |
| Recurring financial income | 75 | €793 | €9,528 | +€8,734 | +1101.0% |
| Financial charges | 65/66B | €20,053 | €27,232 | +€7,179 | +35.8% |
| Recurring financial charges | 65 | €20,053 | €27,232 | +€7,179 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | €11,395 | €44,519 | +€33,123 | +290.7% |
| Transfer from deferred taxes | 780 | - | €1,099 | +€1,099 | |
| Income taxes | 67/77 | €5,187 | €13,541 | +€8,354 | +161.1% |
| Profit (loss) for the period | 9904 | €6,209 | €32,078 | +€25,869 | +416.7% |
| Transfer from tax-exempt reserves | 789 | €4,398 | €3,298 | -€1,099 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,606 | €35,376 | +€24,770 | +233.5% |
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 11 October 2026 via checked.be.