P. COMPANY: 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. COMPANY
Largest movements
- Tangible fixed assets +€2.8m
up €2.8m (+44.1%), from €6.3m to €9.1m
of which Leasing and similar rights: +€2.6m
- Receivables within one year +€164,865
up €164,865 (+612%), from €26,927 to €191,792
of which Trade receivables: +€168,179
- Debts after one year +€2.8m
up €2.8m (+49.2%), from €5.6m to €8.4m
- Current portion of long-term debt +€164,475
up €164,475 (+67.2%), from €244,694 to €409,169
- Profit (loss) carried forward -€162,683
down €162,683 (-33.1%), from -€491,165 to -€653,848
- Trade debts +€99,518
up €99,518 (+129%), from €76,922 to €176,440
- Gross operating margin +€137,709
up €137,709 (+58.2%), from €236,437 to €374,146
- Financial charges +€39,445
up €39,445 (+28.8%), from €137,090 to €176,535
of which Financial charges: +€39,445
- Depreciation +€35,714
up €35,714 (+11.4%), from €313,816 to €349,529
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 | €6,461,183 | €9,363,239 | +€2.9m | +44.9% |
| Fixed assets | 21/28 | €6,334,599 | €9,130,150 | +€2.8m | +44.1% |
| Tangible fixed assets | 22/27 | €6,334,599 | €9,129,550 | +€2.8m | +44.1% |
| Land and buildings | 22 | €6,152,933 | €6,429,008 | +€276,075 | +4.5% |
| Furniture and vehicles | 24 | €181,665 | €135,825 | -€45,840 | -25.2% |
| Leasing and similar rights | 25 | €0 | €2,564,717 | +€2.6m | |
| Financial fixed assets | 28 | - | €600 | +€600 | |
| Current assets | 29/58 | €126,585 | €233,089 | +€106,505 | +84.1% |
| Amounts receivable within one year | 40/41 | €26,927 | €191,792 | +€164,865 | +612% |
| Trade receivables | 40 | €23,613 | €191,792 | +€168,179 | +712% |
| Other amounts receivable | 41 | €3,314 | - | -€3,314 | |
| Current investments | 50/53 | €1 | €0 | -€0 | -48.4% |
| Cash at bank and in hand | 54/58 | €92,240 | €19,646 | -€72,594 | -78.7% |
| Deferred charges and accrued income | 490/1 | €7,417 | €21,651 | +€14,234 | +192% |
| Total equity and liabilities | 10/49 | €6,461,183 | €9,363,239 | +€2.9m | +44.9% |
| Equity | 10/15 | €392,530 | €229,847 | -€162,683 | -41.4% |
| Contributions | 10/11 | €420,000 | €420,000 | = | 0.0% |
| Reserves | 13 | €463,695 | €463,695 | = | 0.0% |
| Distributable reserves | 133 | €463,695 | €463,695 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€491,165 | -€653,848 | -€162,683 | -33.1% |
| Provisions and deferred taxes | 16 | €70,036 | €70,036 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €70,036 | €70,036 | = | 0.0% |
| Pensions and similar obligations | 160 | €70,036 | €70,036 | = | 0.0% |
| Amounts payable | 17/49 | €5,998,617 | €9,063,356 | +€3.1m | +51.1% |
| Amounts payable after more than one year | 17 | €5,647,020 | €8,422,831 | +€2.8m | +49.2% |
| Financial debts | 170/4 | €5,647,020 | €8,422,831 | +€2.8m | +49.2% |
| Amounts payable within one year | 42/48 | €327,745 | €596,152 | +€268,407 | +81.9% |
| Current portion of amounts payable after more than one year | 42 | €244,694 | €409,169 | +€164,475 | +67.2% |
| Trade debts | 44 | €76,922 | €176,440 | +€99,518 | +129% |
| Suppliers | 440/4 | €76,922 | €176,440 | +€99,518 | +129% |
| Taxes, remuneration and social security | 45 | €5,879 | €10,043 | +€4,164 | +70.8% |
| Taxes | 450/3 | €5,879 | €10,043 | +€4,164 | +70.8% |
| Other amounts payable | 47/48 | €250 | €500 | +€250 | +100% |
| Accrued charges and deferred income | 492/3 | €23,852 | €44,374 | +€20,522 | +86.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313,816 | €349,529 | +€35,714 | +11.4% |
| Other operating charges | 640/8 | €12,985 | €11,328 | -€1,658 | -12.8% |
| Non-recurring operating charges | 66A | €40,458 | - | -€40,458 | |
| Gross operating margin | 9900 | €236,437 | €374,146 | +€137,709 | +58.2% |
| Operating profit (loss) | 9901 | -€130,822 | €13,289 | +€144,111 | |
| Financial income | 75/76B | €257 | €2,382 | +€2,125 | +828% |
| Recurring financial income | 75 | €257 | €2,382 | +€2,125 | +828% |
| Financial charges | 65/66B | €137,090 | €176,535 | +€39,445 | +28.8% |
| Recurring financial charges | 65 | €137,090 | €176,535 | +€39,445 | +28.8% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | -€267,655 | -€160,864 | +€106,791 | +39.9% |
| Income taxes | 67/77 | €1,288 | €1,819 | +€530 | +41.2% |
| Profit (loss) for the period | 9904 | -€268,944 | -€162,683 | +€106,261 | +39.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€268,944 | -€162,683 | +€106,261 | +39.5% |
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 27 October 2026 via checked.be.