P & A MANAGEMENT: 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 MANAGEMENT
Largest movements
- Receivables within one year +€7,011
up €7,011 (+33.5%), from €20,924 to €27,935
of which Trade receivables: +€6,763
- Cash -€4,736
down €4,736 (-21.4%), from €22,139 to €17,403
mainly Receivables within one year (-€7,011) and Current portion of long-term debt (-€6,233)
- Tangible fixed assets -€3,725
down €3,725 (-25.6%), from €14,568 to €10,843
- Stocks and contracts -€2,710
down €2,710 (-53.1%), from €5,103 to €2,393
- Deferred charges and accrued income +€1,432
up €1,432 (+1,110%), from €129 to €1,561
- Current portion of long-term debt -€6,233
down €6,233 (-55.3%), from €11,267 to €5,034
- Tax, wage and social debts +€1,400
up €1,400 (+24.0%), from €5,840 to €7,240
- Trade debts +€1,373
up €1,373 (+28.0%), from €4,900 to €6,273
- Profit (loss) carried forward +€1,189
up €1,189 (+66.1%), from €1,798 to €2,987
- Depreciation -€4,426
down €4,426 (-54.3%), from €8,151 to €3,725
- Gross operating margin -€3,617
down €3,617 (-22.1%), from €16,334 to €12,717
- Other operating charges +€1,955
up €1,955 (+113%), from €1,727 to €3,682
- Taxes +€599
up €599 (+20.0%), from €3,001 to €3,600
- Financial charges +€311
up €311 (+148%), from €210 to €521
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 | €64,063 | €61,788 | -€2,275 | -3.6% |
| Fixed assets | 21/28 | €15,768 | €12,496 | -€3,272 | -20.8% |
| Tangible fixed assets | 22/27 | €14,568 | €10,843 | -€3,725 | -25.6% |
| Furniture and vehicles | 24 | €14,568 | €10,843 | -€3,725 | -25.6% |
| Financial fixed assets | 28 | €1,200 | €1,653 | +€453 | +37.8% |
| Current assets | 29/58 | €48,295 | €49,292 | +€997 | +2.1% |
| Stocks and contracts in progress | 3 | €5,103 | €2,393 | -€2,710 | -53.1% |
| Stocks | 30/36 | €5,103 | €2,393 | -€2,710 | -53.1% |
| Amounts receivable within one year | 40/41 | €20,924 | €27,935 | +€7,011 | +33.5% |
| Trade receivables | 40 | €13,974 | €20,737 | +€6,763 | +48.4% |
| Other amounts receivable | 41 | €6,950 | €7,198 | +€248 | +3.6% |
| Cash at bank and in hand | 54/58 | €22,139 | €17,403 | -€4,736 | -21.4% |
| Deferred charges and accrued income | 490/1 | €129 | €1,561 | +€1,432 | +1,110% |
| Total equity and liabilities | 10/49 | €64,063 | €61,788 | -€2,275 | -3.6% |
| Equity | 10/15 | €42,048 | €43,237 | +€1,189 | +2.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €39,250 | €39,250 | = | 0.0% |
| Distributable reserves | 133 | €39,250 | €39,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,798 | €2,987 | +€1,189 | +66.1% |
| Amounts payable | 17/49 | €22,015 | €18,551 | -€3,464 | -15.7% |
| Amounts payable within one year | 42/48 | €22,015 | €18,551 | -€3,464 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €11,267 | €5,034 | -€6,233 | -55.3% |
| Financial debts | 43 | €8 | €4 | -€4 | -50.0% |
| Credit institutions | 430/8 | €8 | €4 | -€4 | -50.0% |
| Trade debts | 44 | €4,900 | €6,273 | +€1,373 | +28.0% |
| Suppliers | 440/4 | €4,900 | €6,273 | +€1,373 | +28.0% |
| Taxes, remuneration and social security | 45 | €5,840 | €7,240 | +€1,400 | +24.0% |
| Taxes | 450/3 | €5,840 | €7,240 | +€1,400 | +24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,151 | €3,725 | -€4,426 | -54.3% |
| Other operating charges | 640/8 | €1,727 | €3,682 | +€1,955 | +113% |
| Gross operating margin | 9900 | €16,334 | €12,717 | -€3,617 | -22.1% |
| Operating profit (loss) | 9901 | €6,456 | €5,310 | -€1,146 | -17.8% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €210 | €521 | +€311 | +148% |
| Recurring financial charges | 65 | €210 | €521 | +€311 | +148% |
| Profit (loss) for the period before taxes | 9903 | €6,250 | €4,789 | -€1,461 | -23.4% |
| Income taxes | 67/77 | €3,001 | €3,600 | +€599 | +20.0% |
| Profit (loss) for the period | 9904 | €3,249 | €1,189 | -€2,060 | -63.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,249 | €1,189 | -€2,060 | -63.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.