P.B.: 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.B.
Largest movements
- Receivables within one year -€2,523
down €2,523 (-20.0%), from €12,648 to €10,125
- Tangible fixed assets -€2,260
down €2,260 (-16.1%), from €14,009 to €11,749
of which Plant, machinery and equipment: -€2,010
- Cash -€1,998
down €1,998 (-5.2%), from €38,634 to €36,636
mainly Contributions, distributions and other (-€30,000) and Trade debts (-€8,382)
- Deferred charges and accrued income +€843
up €843 (+45.0%), from €1,874 to €2,717
- Tax, wage and social debts +€12,020
up €12,020 (+86.9%), from €13,838 to €25,857
of which Taxes: +€8,863
- Trade debts -€8,382
down €8,382 (-49.9%), from €16,813 to €8,431
- Profit (loss) carried forward -€5,200
down €5,200 (-18.6%), from €27,995 to €22,796
- Current portion of long-term debt -€4,791
no longer reported in 2025 (was €4,791)
- Staff costs -€16,691
down €16,691 (-11.3%), from €147,231 to €130,540
- Gross operating margin -€6,255
down €6,255 (-3.7%), from €170,095 to €163,840
- Taxes +€4,315
new in 2025: €4,315
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 | €71,579 | €65,226 | -€6,353 | -8.9% |
| Fixed assets | 21/28 | €16,015 | €13,754 | -€2,260 | -14.1% |
| Tangible fixed assets | 22/27 | €14,009 | €11,749 | -€2,260 | -16.1% |
| Land and buildings | 22 | €1,773 | €1,523 | -€250 | -14.1% |
| Plant, machinery and equipment | 23 | €12,236 | €10,226 | -€2,010 | -16.4% |
| Financial fixed assets | 28 | €2,005 | €2,005 | = | 0.0% |
| Current assets | 29/58 | €55,564 | €51,471 | -€4,093 | -7.4% |
| Stocks and contracts in progress | 3 | €2,408 | €1,993 | -€415 | -17.2% |
| Stocks | 30/36 | €2,408 | €1,993 | -€415 | -17.2% |
| Amounts receivable within one year | 40/41 | €12,648 | €10,125 | -€2,523 | -20.0% |
| Other amounts receivable | 41 | €12,648 | €10,125 | -€2,523 | -20.0% |
| Cash at bank and in hand | 54/58 | €38,634 | €36,636 | -€1,998 | -5.2% |
| Deferred charges and accrued income | 490/1 | €1,874 | €2,717 | +€843 | +45.0% |
| Total equity and liabilities | 10/49 | €71,579 | €65,226 | -€6,353 | -8.9% |
| Equity | 10/15 | €36,052 | €30,852 | -€5,200 | -14.4% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,995 | €22,796 | -€5,200 | -18.6% |
| Amounts payable | 17/49 | €35,527 | €34,374 | -€1,153 | -3.2% |
| Amounts payable within one year | 42/48 | €35,527 | €34,374 | -€1,153 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €4,791 | - | -€4,791 | |
| Trade debts | 44 | €16,813 | €8,431 | -€8,382 | -49.9% |
| Suppliers | 440/4 | €16,813 | €8,431 | -€8,382 | -49.9% |
| Taxes, remuneration and social security | 45 | €13,838 | €25,857 | +€12,020 | +86.9% |
| Taxes | 450/3 | €1,562 | €10,426 | +€8,863 | +567.3% |
| Remuneration and social security | 454/9 | €12,275 | €15,432 | +€3,156 | +25.7% |
| Other amounts payable | 47/48 | €85 | €85 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €147,231 | €130,540 | -€16,691 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,952 | €2,260 | -€692 | -23.4% |
| Other operating charges | 640/8 | €2,355 | €1,917 | -€439 | -18.6% |
| Gross operating margin | 9900 | €170,095 | €163,840 | -€6,255 | -3.7% |
| Operating profit (loss) | 9901 | €17,557 | €29,123 | +€11,566 | +65.9% |
| Financial income | 75/76B | €1 | €373 | +€373 | +51039.7% |
| Recurring financial income | 75 | €1 | €373 | +€373 | +51039.7% |
| Financial charges | 65/66B | €981 | €382 | -€599 | -61.1% |
| Recurring financial charges | 65 | €981 | €382 | -€599 | -61.1% |
| Profit (loss) for the period before taxes | 9903 | €16,577 | €29,115 | +€12,538 | +75.6% |
| Income taxes | 67/77 | - | €4,315 | +€4,315 | |
| Profit (loss) for the period | 9904 | €16,577 | €24,800 | +€8,223 | +49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,577 | €24,800 | +€8,223 | +49.6% |
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 3 October 2026 via checked.be.