phiRED: what changed
phiRED
Largest movements
- Receivables within one year +€1.6m
up €1.6m (+838%), from €193,588 to €1.8m
of which Other amounts receivable: +€1.8m
- Financial fixed assets +€1.1m
new in 2025: €1.1m
- Stocks and contracts +€761,375
new in 2025: €761,375
- Tangible fixed assets -€154,958
no longer reported in 2025 (was €154,958)
- Other debts +€2.5m
up €2.5m (+36,611%), from €6,895 to €2.5m
- Trade debts +€625,859
up €625,859 (+334%), from €187,550 to €813,409
- Advances received +€255,000
new in 2025: €255,000
- Contributions -€126,000
down €126,000 (-86.3%), from €146,000 to €20,000
- Gross operating margin -€45,794
down €45,794 (-28.7%), from €159,328 to €113,534
- Staff costs +€30,305
new in 2025: €30,305
Change in the result, 2023 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
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €348,547 | €3,642,974 | +€3.3m | +945% |
| Fixed assets | 21/28 | €154,958 | €1,065,300 | +€910,342 | +587% |
| Tangible fixed assets | 22/27 | €154,958 | - | -€154,958 | |
| Plant, machinery and equipment | 23 | €154,958 | - | -€154,958 | |
| Financial fixed assets | 28 | - | €1,065,300 | +€1.1m | |
| Current assets | 29/58 | €193,589 | €2,577,674 | +€2.4m | +1,232% |
| Stocks and contracts in progress | 3 | - | €761,375 | +€761,375 | |
| Stocks | 30/36 | - | €761,375 | +€761,375 | |
| Amounts receivable within one year | 40/41 | €193,588 | €1,816,187 | +€1.6m | +838% |
| Trade receivables | 40 | €193,573 | €21,165 | -€172,408 | -89.1% |
| Other amounts receivable | 41 | €15 | €1,795,022 | +€1.8m | +12,103,890% |
| Cash at bank and in hand | 54/58 | €1 | €112 | +€111 | +12,945% |
| Total equity and liabilities | 10/49 | €348,547 | €3,642,974 | +€3.3m | +945% |
| Equity | 10/15 | €153,218 | €31,722 | -€121,497 | -79.3% |
| Contributions | 10/11 | €146,000 | €20,000 | -€126,000 | -86.3% |
| Profit (loss) carried forward | 14 | €7,218 | €11,722 | +€4,503 | +62.4% |
| Amounts payable | 17/49 | €195,328 | €3,611,252 | +€3.4m | +1,749% |
| Amounts payable within one year | 42/48 | €195,328 | €3,611,252 | +€3.4m | +1,749% |
| Trade debts | 44 | €187,550 | €813,409 | +€625,859 | +334% |
| Suppliers | 440/4 | €187,550 | €813,409 | +€625,859 | +334% |
| Advances received on contracts in progress | 46 | - | €255,000 | +€255,000 | |
| Taxes, remuneration and social security | 45 | €884 | €11,715 | +€10,831 | +1,226% |
| Taxes | 450/3 | €884 | €6,385 | +€5,501 | +623% |
| Remuneration and social security | 454/9 | - | €5,330 | +€5,330 | |
| Other amounts payable | 47/48 | €6,895 | €2,531,129 | +€2.5m | +36,611% |
| Non-recurring operating income | 76A | - | €42 | +€42 | |
| Remuneration, social security and pensions | 62 | - | €30,305 | +€30,305 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42 | - | -€42 | |
| Other operating charges | 640/8 | €215 | €118 | -€97 | -45.1% |
| Non-recurring operating charges | 66A | - | €78,566 | +€78,566 | |
| Gross operating margin | 9900 | €159,328 | €113,534 | -€45,794 | -28.7% |
| Operating profit (loss) | 9901 | €159,071 | €4,545 | -€154,525 | -97.1% |
| Financial income | 75/76B | - | €504 | +€504 | |
| Recurring financial income | 75 | - | €504 | +€504 | |
| Financial charges | 65/66B | €114 | €547 | +€433 | +381% |
| Recurring financial charges | 65 | €114 | €547 | +€433 | +381% |
| Profit (loss) for the period before taxes | 9903 | €158,957 | €4,503 | -€154,454 | -97.2% |
| Profit (loss) for the period | 9904 | €158,957 | €4,503 | -€154,454 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €158,957 | €4,503 | -€154,454 | -97.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.