Philing: what changed
What changed
Philing
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€667,962
2024 · -€939,327+€1.6m
Equity
€1.8m
2024 · €1.1m+€667,963
Cash
€1.9m
2024 · €1.1m+€795,614
Balance sheet total
€42.4m
2024 · €30.4m+€12.0m
Largest movements
Assets
- Financial fixed assets +€24.1m
up €24.1m (+189%), from €12.7m to €36.8m
- Receivables after one year -€12.8m
down €12.8m (-95.4%), from €13.4m to €622,889
of which Other amounts receivable: -€12.8m
- Cash +€795,614
up €795,614 (+75.2%), from €1.1m to €1.9m
mainly Debts after one year (+€13.3m) and Receivables after one year (+€12.8m)
- Receivables within one year -€548,210
down €548,210 (-83.4%), from €656,943 to €108,733
of which Trade receivables: -€518,518
- Current investments +€537,585
up €537,585 (+37.8%), from €1.4m to €2.0m
Equity and liabilities
- Debts after one year +€13.3m
up €13.3m (+49.2%), from €27.1m to €40.4m
- Other debts -€1.4m
down €1.4m (-99.7%), from €1.4m to €4,063
- Profit (loss) carried forward +€667,962
up €667,962, from -€458,657 to €209,306
- Trade debts -€623,799
down €623,799 (-92.7%), from €672,707 to €48,908
Income statement
- Financial income +€958,788
up €958,788 (+73.7%), from €1.3m to €2.3m
of which Non-recurring financial income: +€1.1m
- Other operating charges -€258,040
down €258,040 (-78.8%), from €327,405 to €69,365
- Gross operating margin -€102,715
down €102,715 (-9.7%), from -€1.1m to -€1.2m
- Financial charges -€23,350
down €23,350 (-20.9%), from €111,963 to €88,613
- Write-downs -€12,428
no longer reported in 2025 (was €12,428)
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.
Result 2024
-€939,327
Gross operating margin
-€102,715
Staff costs
+€4,977
Depreciation
+€10,224
Write-downs
+€12,428
Other operating charges
+€258,040
Other operating items
+€442,991
Financial income
+€958,788
Financial charges
+€23,350
Taxes
-€793
Result 2025
€667,962
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€12.1m
Investment
-€24.6m
Financing
+€13.3m
Cash 2024
€1.1m
From operations (derived)
+€12.1m
Net result for the year
+€667,962
Depreciation
+€80,194
Receivables after one year
+€12.8m
Receivables within one year
+€548,210
Smaller working-capital items
-€293
Trade debts
-€623,799
Other debts
-€1.4m
Accrued charges and deferred income
+€75,592
Investment (derived)
-€24.6m
Investment in fixed assets (net)
-€24.1m
Current investments
-€537,585
Financing
+€13.3m
Debts after one year
+€13.3m
Current portion of long-term debt
+€3,619
Contributions, distributions and other
+€1
Cash 2025
€1.9m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,358,668 | €42,365,290 | +€12.0m | +39.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €13,810,509 | €37,807,800 | +€24.0m | +174% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,079,491 | €989,983 | -€89,508 | -8.3% |
| Land and buildings | 22 | €904,493 | €864,439 | -€40,054 | -4.4% |
| Furniture and vehicles | 24 | €117,582 | €85,592 | -€31,990 | -27.2% |
| Other tangible fixed assets | 26 | €57,416 | €39,953 | -€17,463 | -30.4% |
| Financial fixed assets | 28 | €12,731,018 | €36,817,816 | +€24.1m | +189% |
| Current assets | 29/58 | €16,548,159 | €4,557,490 | -€12.0m | -72.5% |
| Amounts receivable after more than one year | 29 | €13,399,594 | €622,889 | -€12.8m | -95.4% |
| Trade receivables | 290 | €14,946 | €14,946 | = | 0.0% |
| Other amounts receivable | 291 | €13,384,648 | €607,943 | -€12.8m | -95.5% |
| Amounts receivable within one year | 40/41 | €656,943 | €108,733 | -€548,210 | -83.4% |
| Trade receivables | 40 | €548,190 | €29,672 | -€518,518 | -94.6% |
| Other amounts receivable | 41 | €108,753 | €79,061 | -€29,692 | -27.3% |
| Current investments | 50/53 | €1,422,068 | €1,959,652 | +€537,585 | +37.8% |
| Cash at bank and in hand | 54/58 | €1,057,543 | €1,853,157 | +€795,614 | +75.2% |
| Deferred charges and accrued income | 490/1 | €12,012 | €13,060 | +€1,048 | +8.7% |
| Total equity and liabilities | 10/49 | €30,358,668 | €42,365,290 | +€12.0m | +39.5% |
| Equity | 10/15 | €1,106,716 | €1,774,680 | +€667,963 | +60.4% |
| Contributions | 10/11 | €1,435,524 | €1,435,525 | +€1 | 0.0% |
| Capital | 10 | €1,435,524 | €1,435,525 | +€1 | 0.0% |
| Issued capital | 100 | €1,435,524 | €1,435,525 | +€1 | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €129,849 | €129,849 | = | 0.0% |
| Non-distributable reserves | 130/1 | €129,849 | €129,849 | = | 0.0% |
| Legal reserve | 130 | €129,849 | €129,849 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€458,657 | €209,306 | +€667,962 | |
| Amounts payable | 17/49 | €29,251,952 | €40,590,611 | +€11.3m | +38.8% |
| Amounts payable after more than one year | 17 | €27,050,899 | €40,363,976 | +€13.3m | +49.2% |
| Financial debts | 170/4 | €27,050,899 | €40,363,976 | +€13.3m | +49.2% |
| Amounts payable within one year | 42/48 | €2,189,840 | €139,831 | -€2.1m | -93.6% |
| Current portion of amounts payable after more than one year | 42 | €62,377 | €65,996 | +€3,619 | +5.8% |
| Trade debts | 44 | €672,707 | €48,908 | -€623,799 | -92.7% |
| Suppliers | 440/4 | €672,707 | €48,908 | -€623,799 | -92.7% |
| Taxes, remuneration and social security | 45 | €20,109 | €20,864 | +€755 | +3.8% |
| Taxes | 450/3 | €0 | €0 | = | |
| Remuneration and social security | 454/9 | €20,109 | €20,864 | +€755 | +3.8% |
| Other amounts payable | 47/48 | €1,434,648 | €4,063 | -€1.4m | -99.7% |
| Accrued charges and deferred income | 492/3 | €11,213 | €86,804 | +€75,592 | +674% |
| Non-recurring operating income | 76A | - | €393 | +€393 | |
| Remuneration, social security and pensions | 62 | €193,311 | €188,335 | -€4,977 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,418 | €80,194 | -€10,224 | -11.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,428 | - | -€12,428 | |
| Other operating charges | 640/8 | €327,405 | €69,365 | -€258,040 | -78.8% |
| Non-recurring operating charges | 66A | €442,991 | - | -€442,991 | |
| Gross operating margin | 9900 | -€1,061,394 | -€1,164,109 | -€102,715 | -9.7% |
| Operating profit (loss) | 9901 | -€2,127,947 | -€1,502,002 | +€625,945 | +29.4% |
| Financial income | 75/76B | €1,300,583 | €2,259,371 | +€958,788 | +73.7% |
| Recurring financial income | 75 | €505,119 | €404,012 | -€101,108 | -20.0% |
| Non-recurring financial income | 76B | €795,464 | €1,855,360 | +€1.1m | +133% |
| Financial charges | 65/66B | €111,963 | €88,613 | -€23,350 | -20.9% |
| Recurring financial charges | 65 | €111,963 | €88,613 | -€23,350 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | -€939,327 | €668,755 | +€1.6m | |
| Income taxes | 67/77 | - | €793 | +€793 | |
| Profit (loss) for the period | 9904 | -€939,327 | €667,962 | +€1.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€939,327 | €667,962 | +€1.6m |
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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 8 November 2026 via checked.be.