P&B: 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&B
Largest movements
- Receivables within one year -€9,081
down €9,081 (-27.8%), from €32,636 to €23,554
of which Trade receivables: -€12,321
- Stocks and contracts -€4,955
down €4,955 (-12.6%), from €39,281 to €34,327
- Tangible fixed assets -€3,273
down €3,273 (-25.0%), from €13,091 to €9,818
- Cash -€1,830
down €1,830 (-12.1%), from €15,144 to €13,314
mainly Other debts (-€44,450) and Net result for the year (-€7,806)
- Other debts -€44,450
down €44,450 (-92.4%), from €48,108 to €3,658
- Advances received +€19,976
new in 2025: €19,976
- Reserves +€7,875
up €7,875 (+47.5%), from €16,567 to €24,442
of which Distributable reserves: +€7,875
- Trade debts -€1,340
down €1,340 (-8.4%), from €15,981 to €14,641
- Tax, wage and social debts -€1,257
down €1,257 (-52.2%), from €2,410 to €1,153
of which Remuneration and social security: -€1,835
- Gross operating margin +€6,819
up €6,819 (+76.5%), from -€8,915 to -€2,096
- Other operating charges -€272
down €272 (-11.3%), from €2,396 to €2,125
- Financial charges -€107
down €107 (-38.6%), from €278 to €171
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 | €101,666 | €82,470 | -€19,196 | -18.9% |
| Fixed assets | 21/28 | €14,548 | €11,275 | -€3,273 | -22.5% |
| Tangible fixed assets | 22/27 | €13,091 | €9,818 | -€3,273 | -25.0% |
| Furniture and vehicles | 24 | €13,091 | €9,818 | -€3,273 | -25.0% |
| Financial fixed assets | 28 | €1,457 | €1,457 | = | 0.0% |
| Current assets | 29/58 | €87,118 | €71,195 | -€15,924 | -18.3% |
| Stocks and contracts in progress | 3 | €39,281 | €34,327 | -€4,955 | -12.6% |
| Stocks | 30/36 | €39,281 | €34,327 | -€4,955 | -12.6% |
| Amounts receivable within one year | 40/41 | €32,636 | €23,554 | -€9,081 | -27.8% |
| Trade receivables | 40 | €32,297 | €19,976 | -€12,321 | -38.1% |
| Other amounts receivable | 41 | €339 | €3,578 | +€3,240 | +956% |
| Cash at bank and in hand | 54/58 | €15,144 | €13,314 | -€1,830 | -12.1% |
| Deferred charges and accrued income | 490/1 | €58 | €0 | -€58 | -100% |
| Total equity and liabilities | 10/49 | €101,666 | €82,470 | -€19,196 | -18.9% |
| Equity | 10/15 | €35,167 | €43,042 | +€7,875 | +22.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,567 | €24,442 | +€7,875 | +47.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €14,707 | €22,582 | +€7,875 | +53.5% |
| Amounts payable | 17/49 | €66,499 | €39,428 | -€27,071 | -40.7% |
| Amounts payable within one year | 42/48 | €66,499 | €39,428 | -€27,071 | -40.7% |
| Trade debts | 44 | €15,981 | €14,641 | -€1,340 | -8.4% |
| Suppliers | 440/4 | €15,981 | €14,641 | -€1,340 | -8.4% |
| Advances received on contracts in progress | 46 | - | €19,976 | +€19,976 | |
| Taxes, remuneration and social security | 45 | €2,410 | €1,153 | -€1,257 | -52.2% |
| Taxes | 450/3 | €576 | €1,153 | +€577 | +100% |
| Remuneration and social security | 454/9 | €1,835 | €0 | -€1,835 | -100% |
| Other amounts payable | 47/48 | €48,108 | €3,658 | -€44,450 | -92.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,273 | €3,273 | = | 0.0% |
| Other operating charges | 640/8 | €2,396 | €2,125 | -€272 | -11.3% |
| Gross operating margin | 9900 | -€8,915 | -€2,096 | +€6,819 | +76.5% |
| Operating profit (loss) | 9901 | -€14,584 | -€7,494 | +€7,090 | +48.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €278 | €171 | -€107 | -38.6% |
| Recurring financial charges | 65 | €278 | €171 | -€107 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,862 | -€7,665 | +€7,198 | +48.4% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€15,002 | -€7,806 | +€7,196 | +48.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,002 | -€7,806 | +€7,196 | +48.0% |
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 16 October 2026 via checked.be.