ELECTRE-PVICO: 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.
ELECTRE-PVICO
Largest movements
- Cash +€58,278
up €58,278 (+16.1%), from €363,071 to €421,349
mainly Net result for the year (+€98,708) and Depreciation (+€13,101)
- Receivables within one year +€17,106
up €17,106 (+517.9%), from €3,303 to €20,408
of which Trade receivables: +€8,581
- Tangible fixed assets -€4,831
down €4,831 (-17.6%), from €27,399 to €22,568
of which Leasing and similar rights: -€9,995
- Reserves +€89,309
up €89,309 (+31.1%), from €287,279 to €376,589
- Debts after one year -€6,211
down €6,211 (-85.7%), from €7,244 to €1,034
- Trade debts -€4,855
down €4,855 (-37.4%), from €12,964 to €8,109
No income-statement line moved by more than 1% of the activity.
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 | €394,348 | €464,926 | +€70,578 | +17.9% |
| Fixed assets | 21/28 | €27,399 | €22,568 | -€4,831 | -17.6% |
| Tangible fixed assets | 22/27 | €27,399 | €22,568 | -€4,831 | -17.6% |
| Plant, machinery and equipment | 23 | €1,612 | €1,435 | -€177 | -11.0% |
| Furniture and vehicles | 24 | €1,481 | €2,591 | +€1,110 | +74.9% |
| Leasing and similar rights | 25 | €23,827 | €13,831 | -€9,995 | -42.0% |
| Other tangible fixed assets | 26 | €480 | €4,711 | +€4,231 | +882.0% |
| Current assets | 29/58 | €366,949 | €442,358 | +€75,409 | +20.6% |
| Amounts receivable within one year | 40/41 | €3,303 | €20,408 | +€17,106 | +517.9% |
| Trade receivables | 40 | - | €8,581 | +€8,581 | |
| Other amounts receivable | 41 | €3,303 | €11,827 | +€8,524 | +258.1% |
| Cash at bank and in hand | 54/58 | €363,071 | €421,349 | +€58,278 | +16.1% |
| Deferred charges and accrued income | 490/1 | €575 | €600 | +€26 | +4.5% |
| Total equity and liabilities | 10/49 | €394,348 | €464,926 | +€70,578 | +17.9% |
| Equity | 10/15 | €301,539 | €390,849 | +€89,309 | +29.6% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €287,279 | €376,589 | +€89,309 | +31.1% |
| Distributable reserves | 133 | €287,279 | €376,589 | +€89,309 | +31.1% |
| Amounts payable | 17/49 | €92,808 | €74,077 | -€18,732 | -20.2% |
| Amounts payable after more than one year | 17 | €7,244 | €1,034 | -€6,211 | -85.7% |
| Financial debts | 170/4 | €7,244 | €1,034 | -€6,211 | -85.7% |
| Amounts payable within one year | 42/48 | €83,367 | €72,866 | -€10,501 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €6,211 | €6,211 | = | 0.0% |
| Trade debts | 44 | €12,964 | €8,109 | -€4,855 | -37.4% |
| Suppliers | 440/4 | €12,964 | €8,109 | -€4,855 | -37.4% |
| Taxes, remuneration and social security | 45 | €19,063 | €14,752 | -€4,310 | -22.6% |
| Taxes | 450/3 | €12,046 | €9,406 | -€2,639 | -21.9% |
| Remuneration and social security | 454/9 | €7,017 | €5,346 | -€1,671 | -23.8% |
| Other amounts payable | 47/48 | €45,130 | €43,793 | -€1,336 | -3.0% |
| Accrued charges and deferred income | 492/3 | €2,197 | €178 | -€2,020 | -91.9% |
| Remuneration, social security and pensions | 62 | €43,034 | €41,746 | -€1,288 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,794 | €13,101 | +€307 | +2.4% |
| Other operating charges | 640/8 | €4,713 | €3,844 | -€868 | -18.4% |
| Gross operating margin | 9900 | €200,657 | €202,536 | +€1,879 | +0.9% |
| Operating profit (loss) | 9901 | €140,116 | €143,844 | +€3,728 | +2.7% |
| Financial income | 75/76B | - | €397 | +€397 | |
| Recurring financial income | 75 | - | €397 | +€397 | |
| Financial charges | 65/66B | €2,082 | €1,517 | -€565 | -27.1% |
| Recurring financial charges | 65 | €2,082 | €1,517 | -€565 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €138,034 | €142,724 | +€4,690 | +3.4% |
| Income taxes | 67/77 | €42,197 | €44,016 | +€1,819 | +4.3% |
| Profit (loss) for the period | 9904 | €95,837 | €98,708 | +€2,871 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €95,837 | €98,708 | +€2,871 | +3.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.