P.D.A.: 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.D.A.
Largest movements
- Receivables within one year +€99,790
up €99,790 (+56.9%), from €175,385 to €275,174
of which Trade receivables: +€103,640
- Tangible fixed assets +€25,697
up €25,697 (+9.4%), from €274,412 to €300,108
of which Other tangible fixed assets: +€29,555
- Deferred charges and accrued income -€20,159
down €20,159 (-23.5%), from €85,864 to €65,705
- Cash -€10,199
no longer reported in 2025 (was €10,199)
mainly Receivables within one year (-€99,790) and Investment in fixed assets (net) (-€53,902)
- Short-term financial debts +€36,292
new in 2025: €36,292
- Trade debts +€26,616
up €26,616 (+28.8%), from €92,450 to €119,066
- Profit (loss) carried forward +€22,716
up €22,716 (+21.0%), from €108,201 to €130,917
- Debts after one year -€16,909
down €16,909 (-6.3%), from €270,077 to €253,168
- Other debts +€12,454
up €12,454 (+94.2%), from €13,223 to €25,677
- Depreciation +€14,178
up €14,178 (+101.1%), from €14,027 to €28,205
- Gross operating margin +€4,171
up €4,171 (+5.8%), from €71,792 to €75,963
- Other operating charges +€1,391
up €1,391 (+82.9%), from €1,678 to €3,068
- Taxes -€1,157
down €1,157 (-10.6%), from €10,889 to €9,731
- Financial income +€1,089
up €1,089 (+261.1%), from €417 to €1,506
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 | €545,858 | €640,988 | +€95,129 | +17.4% |
| Fixed assets | 21/28 | €274,412 | €300,108 | +€25,697 | +9.4% |
| Tangible fixed assets | 22/27 | €274,412 | €300,108 | +€25,697 | +9.4% |
| Furniture and vehicles | 24 | €12,731 | €8,873 | -€3,858 | -30.3% |
| Other tangible fixed assets | 26 | €261,680 | €291,235 | +€29,555 | +11.3% |
| Current assets | 29/58 | €271,447 | €340,879 | +€69,432 | +25.6% |
| Amounts receivable within one year | 40/41 | €175,385 | €275,174 | +€99,790 | +56.9% |
| Trade receivables | 40 | €152,422 | €256,062 | +€103,640 | +68.0% |
| Other amounts receivable | 41 | €22,963 | €19,112 | -€3,851 | -16.8% |
| Cash at bank and in hand | 54/58 | €10,199 | - | -€10,199 | |
| Deferred charges and accrued income | 490/1 | €85,864 | €65,705 | -€20,159 | -23.5% |
| Total equity and liabilities | 10/49 | €545,858 | €640,988 | +€95,129 | +17.4% |
| Equity | 10/15 | €118,201 | €140,917 | +€22,716 | +19.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,201 | €130,917 | +€22,716 | +21.0% |
| Amounts payable | 17/49 | €427,658 | €500,071 | +€72,413 | +16.9% |
| Amounts payable after more than one year | 17 | €270,077 | €253,168 | -€16,909 | -6.3% |
| Financial debts | 170/4 | €270,077 | €253,168 | -€16,909 | -6.3% |
| Amounts payable within one year | 42/48 | €156,343 | €244,758 | +€88,414 | +56.6% |
| Current portion of amounts payable after more than one year | 42 | €25,583 | €26,862 | +€1,279 | +5.0% |
| Financial debts | 43 | - | €36,292 | +€36,292 | |
| Credit institutions | 430/8 | - | €36,292 | +€36,292 | |
| Trade debts | 44 | €92,450 | €119,066 | +€26,616 | +28.8% |
| Suppliers | 440/4 | €92,450 | €119,066 | +€26,616 | +28.8% |
| Taxes, remuneration and social security | 45 | €25,087 | €36,861 | +€11,774 | +46.9% |
| Taxes | 450/3 | €25,087 | €34,361 | +€9,274 | +37.0% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €13,223 | €25,677 | +€12,454 | +94.2% |
| Accrued charges and deferred income | 492/3 | €1,237 | €2,145 | +€908 | +73.3% |
| Non-recurring operating income | 76A | - | €11,862 | +€11,862 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,027 | €28,205 | +€14,178 | +101.1% |
| Other operating charges | 640/8 | €1,678 | €3,068 | +€1,391 | +82.9% |
| Gross operating margin | 9900 | €71,792 | €75,963 | +€4,171 | +5.8% |
| Operating profit (loss) | 9901 | €56,087 | €44,690 | -€11,398 | -20.3% |
| Financial income | 75/76B | €417 | €1,506 | +€1,089 | +261.1% |
| Recurring financial income | 75 | €417 | €1,506 | +€1,089 | +261.1% |
| Financial charges | 65/66B | €12,688 | €13,748 | +€1,060 | +8.4% |
| Recurring financial charges | 65 | €12,688 | €13,748 | +€1,060 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €43,817 | €32,448 | -€11,369 | -25.9% |
| Income taxes | 67/77 | €10,889 | €9,731 | -€1,157 | -10.6% |
| Profit (loss) for the period | 9904 | €32,928 | €22,716 | -€10,212 | -31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,928 | €22,716 | -€10,212 | -31.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.