P&A ADVICES: 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.
P&A ADVICES
Largest movements
- Tangible fixed assets -€16,302
down €16,302 (-28.0%), from €58,172 to €41,870
of which Other tangible fixed assets: -€9,553
- Profit (loss) carried forward +€88,037
up €88,037 (+36.1%), from €243,874 to €331,911
- Debts after one year -€81,748
down €81,748 (-9.8%), from €830,339 to €748,591
- Other debts -€14,338
down €14,338 (-30.9%), from €46,473 to €32,135
- Financial charges -€45,887
down €45,887 (-91.0%), from €50,447 to €4,559
- Gross operating margin -€13,751
down €13,751 (-10.7%), from €128,375 to €114,624
- Depreciation +€2,154
up €2,154 (+11.9%), from €18,111 to €20,265
- Other operating charges -€1,852
down €1,852 (-61.7%), from €3,000 to €1,148
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.
Derived cash bridge
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 | €1,214,534 | €1,207,212 | -€7,322 | -0.6% |
| Fixed assets | 21/28 | €1,195,176 | €1,178,874 | -€16,302 | -1.4% |
| Tangible fixed assets | 22/27 | €58,172 | €41,870 | -€16,302 | -28.0% |
| Furniture and vehicles | 24 | €2,136 | €4,516 | +€2,381 | +111% |
| Leasing and similar rights | 25 | €28,013 | €18,884 | -€9,130 | -32.6% |
| Other tangible fixed assets | 26 | €28,023 | €18,470 | -€9,553 | -34.1% |
| Financial fixed assets | 28 | €1,137,004 | €1,137,004 | = | 0.0% |
| Current assets | 29/58 | €19,357 | €28,338 | +€8,981 | +46.4% |
| Amounts receivable within one year | 40/41 | €941 | €498 | -€443 | -47.1% |
| Trade receivables | 40 | €941 | €498 | -€443 | -47.1% |
| Cash at bank and in hand | 54/58 | €17,214 | €25,019 | +€7,805 | +45.3% |
| Deferred charges and accrued income | 490/1 | €1,203 | €2,821 | +€1,619 | +135% |
| Total equity and liabilities | 10/49 | €1,214,534 | €1,207,212 | -€7,322 | -0.6% |
| Equity | 10/15 | €246,374 | €334,411 | +€88,037 | +35.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €243,874 | €331,911 | +€88,037 | +36.1% |
| Amounts payable | 17/49 | €968,159 | €872,801 | -€95,358 | -9.8% |
| Amounts payable after more than one year | 17 | €830,339 | €748,591 | -€81,748 | -9.8% |
| Financial debts | 170/4 | €830,339 | €748,591 | -€81,748 | -9.8% |
| Amounts payable within one year | 42/48 | €137,820 | €124,210 | -€13,610 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €81,226 | €81,748 | +€522 | +0.6% |
| Financial debts | 43 | €685 | €1,110 | +€424 | +61.9% |
| Credit institutions | 430/8 | €685 | €1,110 | +€424 | +61.9% |
| Trade debts | 44 | €2,458 | €2,281 | -€177 | -7.2% |
| Suppliers | 440/4 | €2,458 | €2,281 | -€177 | -7.2% |
| Taxes, remuneration and social security | 45 | €6,977 | €6,935 | -€42 | -0.6% |
| Taxes | 450/3 | €6,977 | €6,935 | -€42 | -0.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €46,473 | €32,135 | -€14,338 | -30.9% |
| Non-recurring operating income | 76A | - | €1,083 | +€1,083 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,111 | €20,265 | +€2,154 | +11.9% |
| Other operating charges | 640/8 | €3,000 | €1,148 | -€1,852 | -61.7% |
| Non-recurring operating charges | 66A | - | €439 | +€439 | |
| Gross operating margin | 9900 | €128,375 | €114,624 | -€13,751 | -10.7% |
| Operating profit (loss) | 9901 | €107,265 | €92,772 | -€14,493 | -13.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €50,447 | €4,559 | -€45,887 | -91.0% |
| Recurring financial charges | 65 | €50,447 | €4,559 | -€45,887 | -91.0% |
| Profit (loss) for the period before taxes | 9903 | €56,818 | €88,213 | +€31,395 | +55.3% |
| Income taxes | 67/77 | €161 | €176 | +€15 | +9.2% |
| Profit (loss) for the period | 9904 | €56,657 | €88,037 | +€31,380 | +55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €56,657 | €88,037 | +€31,380 | +55.4% |
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 26 October 2026 via checked.be.