FLOATING PV: 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.
FLOATING PV
Largest movements
- Tangible fixed assets -€399,840
down €399,840 (-6.4%), from €6.3m to €5.9m
of which Leasing and similar rights: -€395,242
- Cash -€353,052
down €353,052 (-77.1%), from €457,729 to €104,677
mainly Debts after one year (-€467,013) and Receivables within one year (-€199,839)
- Receivables within one year +€199,839
up €199,839 (+48.6%), from €410,872 to €610,712
of which Trade receivables: +€211,683
- Debts after one year -€467,013
down €467,013 (-19.3%), from €2.4m to €2.0m
- Profit (loss) carried forward +€137,853
up €137,853 (+16.6%), from €830,368 to €968,221
- Trade debts -€135,559
down €135,559 (-74.6%), from €181,668 to €46,109
- Investment grants -€99,469
down €99,469 (-6.4%), from €1.6m to €1.5m
- Turnover -€53,794
down €53,794 (-7.3%), from €741,643 to €687,849
- Services and other goods +€39,723
up €39,723 (+22.9%), from €173,580 to €213,303
- Taxes -€23,556
down €23,556 (-62.9%), from €37,465 to €13,910
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 | €7,163,747 | €6,608,375 | -€555,373 | -7.8% |
| Fixed assets | 21/28 | €6,263,758 | €5,863,917 | -€399,840 | -6.4% |
| Tangible fixed assets | 22/27 | €6,263,758 | €5,863,917 | -€399,840 | -6.4% |
| Plant, machinery and equipment | 23 | €47,742 | €43,144 | -€4,598 | -9.6% |
| Leasing and similar rights | 25 | €6,216,016 | €5,820,773 | -€395,242 | -6.4% |
| Current assets | 29/58 | €899,990 | €744,457 | -€155,533 | -17.3% |
| Amounts receivable within one year | 40/41 | €410,872 | €610,712 | +€199,839 | +48.6% |
| Trade receivables | 40 | €134,208 | €345,890 | +€211,683 | +157.7% |
| Other amounts receivable | 41 | €276,665 | €264,821 | -€11,843 | -4.3% |
| Current investments | 50/53 | - | €1 | +€1 | |
| Other investments | 51/53 | - | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €457,729 | €104,677 | -€353,052 | -77.1% |
| Deferred charges and accrued income | 490/1 | €31,389 | €29,068 | -€2,321 | -7.4% |
| Total equity and liabilities | 10/49 | €7,163,747 | €6,608,375 | -€555,373 | -7.8% |
| Equity | 10/15 | €4,051,835 | €4,097,475 | +€45,640 | +1.1% |
| Contributions | 10/11 | €1,561,500 | €1,561,500 | = | 0.0% |
| Capital | 10 | €1,561,500 | €1,561,500 | = | 0.0% |
| Issued capital | 100 | €1,561,500 | €1,561,500 | = | 0.0% |
| Reserves | 13 | €96,335 | €103,591 | +€7,255 | +7.5% |
| Non-distributable reserves | 130/1 | €96,335 | €103,591 | +€7,255 | +7.5% |
| Legal reserve | 130 | €96,335 | €103,591 | +€7,255 | +7.5% |
| Profit (loss) carried forward | 14 | €830,368 | €968,221 | +€137,853 | +16.6% |
| Investment grants | 15 | €1,563,632 | €1,464,163 | -€99,469 | -6.4% |
| Amounts payable | 17/49 | €3,111,912 | €2,510,900 | -€601,013 | -19.3% |
| Amounts payable after more than one year | 17 | €2,424,888 | €1,957,874 | -€467,013 | -19.3% |
| Financial debts | 170/4 | €2,424,888 | €1,957,874 | -€467,013 | -19.3% |
| Leasing and similar obligations | 172 | €2,424,888 | €1,957,874 | -€467,013 | -19.3% |
| Amounts payable within one year | 42/48 | €686,309 | €552,249 | -€134,059 | -19.5% |
| Current portion of amounts payable after more than one year | 42 | €464,690 | €467,013 | +€2,323 | +0.5% |
| Trade debts | 44 | €181,668 | €46,109 | -€135,559 | -74.6% |
| Suppliers | 440/4 | €181,668 | €46,109 | -€135,559 | -74.6% |
| Taxes, remuneration and social security | 45 | €39,951 | €39,127 | -€824 | -2.1% |
| Taxes | 450/3 | €39,951 | €39,127 | -€824 | -2.1% |
| Accrued charges and deferred income | 492/3 | €716 | €776 | +€60 | +8.4% |
| Operating income | 70/76A | €741,643 | €687,849 | -€53,794 | -7.3% |
| Turnover | 70 | €741,643 | €687,849 | -€53,794 | -7.3% |
| Operating charges | 60/66A | €582,991 | €622,747 | +€39,756 | +6.8% |
| Services and other goods | 61 | €173,580 | €213,303 | +€39,723 | +22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €399,840 | €399,840 | -€0 | 0.0% |
| Other operating charges | 640/8 | €9,571 | €9,604 | +€33 | +0.3% |
| Operating profit (loss) | 9901 | €158,653 | €65,102 | -€93,551 | -59.0% |
| Financial income | 75/76B | €107,054 | €107,819 | +€765 | +0.7% |
| Recurring financial income | 75 | €107,054 | €107,819 | +€765 | +0.7% |
| Income from current assets | 751 | €7,586 | €8,351 | +€765 | +10.1% |
| Other financial income | 752/9 | €99,469 | €99,469 | -€0 | 0.0% |
| Financial charges | 65/66B | €16,377 | €13,903 | -€2,474 | -15.1% |
| Recurring financial charges | 65 | €16,377 | €13,903 | -€2,474 | -15.1% |
| Debt charges | 650 | €16,048 | €13,535 | -€2,513 | -15.7% |
| Other financial charges | 652/9 | €328 | €368 | +€39 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €249,330 | €159,018 | -€90,312 | -36.2% |
| Income taxes | 67/77 | €37,465 | €13,910 | -€23,556 | -62.9% |
| Taxes | 670/3 | €37,465 | €13,910 | -€23,556 | -62.9% |
| Profit (loss) for the period | 9904 | €211,865 | €145,108 | -€66,756 | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €211,865 | €145,108 | -€66,756 | -31.5% |
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 10 October 2026 via checked.be.