P & Bp: 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 & Bp
Largest movements
- Current investments -€54,782
down €54,782 (-9.1%), from €603,171 to €548,389
- Tangible fixed assets +€49,294
up €49,294 (+123.3%), from €39,991 to €89,285
of which Furniture and vehicles: +€50,488
- Receivables within one year +€12,331
up €12,331 (+84.4%), from €14,616 to €26,946
of which Trade receivables: +€7,754
No liability line moved by more than 1% of the balance sheet total.
- Financial charges -€4,840
down €4,840 (-98.9%), from €4,896 to €55
- Gross operating margin -€2,106
down €2,106 (-8.9%), from €23,609 to €21,503
- Taxes -€396
down €396 (-26.9%), from €1,474 to €1,078
- Depreciation +€332
up €332 (+1.7%), from €19,297 to €19,629
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €659,857 | €666,118 | +€6,261 | +0.9% |
| Fixed assets | 21/28 | €39,991 | €89,285 | +€49,294 | +123.3% |
| Tangible fixed assets | 22/27 | €39,991 | €89,285 | +€49,294 | +123.3% |
| Plant, machinery and equipment | 23 | €1,335 | €140 | -€1,194 | -89.5% |
| Furniture and vehicles | 24 | €38,656 | €89,144 | +€50,488 | +130.6% |
| Current assets | 29/58 | €619,866 | €576,833 | -€43,033 | -6.9% |
| Amounts receivable within one year | 40/41 | €14,616 | €26,946 | +€12,331 | +84.4% |
| Trade receivables | 40 | €555 | €8,309 | +€7,754 | +1396.1% |
| Other amounts receivable | 41 | €14,060 | €18,637 | +€4,577 | +32.6% |
| Current investments | 50/53 | €603,171 | €548,389 | -€54,782 | -9.1% |
| Deferred charges and accrued income | 490/1 | €2,080 | €1,498 | -€582 | -28.0% |
| Total equity and liabilities | 10/49 | €659,857 | €666,118 | +€6,261 | +0.9% |
| Equity | 10/15 | €658,359 | €658,330 | -€30 | 0.0% |
| Contributions | 10/11 | €6,666 | €6,666 | = | 0.0% |
| Reserves | 13 | €651,693 | €651,664 | -€30 | 0.0% |
| Distributable reserves | 133 | €651,693 | €651,664 | -€30 | 0.0% |
| Amounts payable | 17/49 | €1,497 | €7,788 | +€6,291 | +420.2% |
| Amounts payable within one year | 42/48 | €1,497 | €7,788 | +€6,291 | +420.2% |
| Trade debts | 44 | €1,310 | €2,873 | +€1,562 | +119.2% |
| Suppliers | 440/4 | €1,310 | €2,873 | +€1,562 | +119.2% |
| Taxes, remuneration and social security | 45 | €0 | €4,811 | +€4,811 | |
| Taxes | 450/3 | €0 | €4,811 | +€4,811 | |
| Other amounts payable | 47/48 | €187 | €104 | -€83 | -44.2% |
| Non-recurring operating income | 76A | - | €9,117 | +€9,117 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,297 | €19,629 | +€332 | +1.7% |
| Other operating charges | 640/8 | €654 | €770 | +€116 | +17.8% |
| Gross operating margin | 9900 | €23,609 | €21,503 | -€2,106 | -8.9% |
| Operating profit (loss) | 9901 | €3,659 | €1,104 | -€2,555 | -69.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,896 | €55 | -€4,840 | -98.9% |
| Recurring financial charges | 65 | €4,896 | €55 | -€4,840 | -98.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,237 | €1,049 | +€2,285 | |
| Income taxes | 67/77 | €1,474 | €1,078 | -€396 | -26.9% |
| Profit (loss) for the period | 9904 | -€2,711 | -€30 | +€2,681 | +98.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,711 | -€30 | +€2,681 | +98.9% |
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.