P.A.: 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.
P.A.
Largest movements
- Tangible fixed assets -€17,616
down €17,616 (-8.7%), from €201,628 to €184,012
of which Plant, machinery and equipment: -€10,224
- Cash +€16,440
up €16,440 (+21.9%), from €75,030 to €91,470
mainly Depreciation (+€17,616) and Net result for the year (+€1,839)
- Revaluation surpluses -€7,391
down €7,391 (-11.9%), from €62,118 to €54,727
- Reserves +€7,391
up €7,391 (+4.7%), from €158,916 to €166,308
- Gross operating margin -€5,461
down €5,461 (-16.7%), from €32,712 to €27,252
- Taxes +€1,856
up €1,856 (+152.0%), from €1,221 to €3,077
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 | €278,036 | €280,275 | +€2,238 | +0.8% |
| Fixed assets | 21/28 | €201,628 | €184,012 | -€17,616 | -8.7% |
| Tangible fixed assets | 22/27 | €201,628 | €184,012 | -€17,616 | -8.7% |
| Land and buildings | 22 | €132,466 | €125,074 | -€7,391 | -5.6% |
| Plant, machinery and equipment | 23 | €69,162 | €58,938 | -€10,224 | -14.8% |
| Current assets | 29/58 | €76,409 | €96,263 | +€19,854 | +26.0% |
| Amounts receivable within one year | 40/41 | €55 | €944 | +€889 | +1613.8% |
| Other amounts receivable | 41 | €55 | €944 | +€889 | +1613.8% |
| Cash at bank and in hand | 54/58 | €75,030 | €91,470 | +€16,440 | +21.9% |
| Deferred charges and accrued income | 490/1 | €1,323 | €3,848 | +€2,525 | +190.9% |
| Total equity and liabilities | 10/49 | €278,036 | €280,275 | +€2,238 | +0.8% |
| Equity | 10/15 | €144,305 | €146,143 | +€1,839 | +1.3% |
| Contributions | 10/11 | €41,999 | €41,999 | = | 0.0% |
| Revaluation surpluses | 12 | €62,118 | €54,727 | -€7,391 | -11.9% |
| Reserves | 13 | €158,916 | €166,308 | +€7,391 | +4.7% |
| Distributable reserves | 133 | €158,916 | €166,308 | +€7,391 | +4.7% |
| Profit (loss) carried forward | 14 | -€118,729 | -€116,890 | +€1,839 | +1.5% |
| Amounts payable | 17/49 | €133,732 | €134,131 | +€400 | +0.3% |
| Amounts payable after more than one year | 17 | €23,100 | €23,100 | = | 0.0% |
| Other amounts payable | 178/9 | €23,100 | €23,100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €110,632 | €110,632 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,221 | €1,221 | = | 0.0% |
| Taxes | 450/3 | €1,221 | €1,221 | = | 0.0% |
| Other amounts payable | 47/48 | €109,411 | €109,411 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Non-recurring operating income | 76A | €5,558 | - | -€5,558 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,616 | €17,616 | = | 0.0% |
| Other operating charges | 640/8 | €4,657 | €4,655 | -€2 | 0.0% |
| Gross operating margin | 9900 | €32,712 | €27,252 | -€5,461 | -16.7% |
| Operating profit (loss) | 9901 | €10,440 | €4,981 | -€5,459 | -52.3% |
| Financial charges | 65/66B | €126 | €66 | -€60 | -47.6% |
| Recurring financial charges | 65 | €126 | €66 | -€60 | -47.6% |
| Profit (loss) for the period before taxes | 9903 | €10,314 | €4,915 | -€5,399 | -52.3% |
| Income taxes | 67/77 | €1,221 | €3,077 | +€1,856 | +152.0% |
| Profit (loss) for the period | 9904 | €9,093 | €1,839 | -€7,254 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,093 | €1,839 | -€7,254 | -79.8% |
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 7 October 2026 via checked.be.