P&E INVEST: 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.
What changed
P&E INVEST
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€356,050
2024 · €635,840-€279,790
Equity
€9.9m
2024 · €9.6m+€356,050
Cash
€193,319
2024 · €718,541-€525,222
Balance sheet total
€10.1m
2024 · €9.8m+€330,784
Largest movements
Assets
- Receivables within one year +€905,464
up €905,464 (+20.6%), from €4.4m to €5.3m
of which Other amounts receivable: +€905,551
- Cash -€525,222
down €525,222 (-73.1%), from €718,541 to €193,319
mainly Receivables within one year (-€905,464) and Receivables after one year (-€65,552)
Equity and liabilities
- Profit (loss) carried forward +€367,764
up €367,764 (+56.8%), from €647,554 to €1.0m
Income statement
- Financial income -€248,896
down €248,896 (-77.1%), from €322,620 to €73,724
- Gross operating margin -€21,522
down €21,522 (-4.3%), from €506,351 to €484,829
- Taxes +€12,347
up €12,347 (+11.3%), from €109,400 to €121,746
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.
Result 2024
€635,840
Gross operating margin
-€21,522
Other operating charges
-€211
Financial income
-€248,896
Financial charges
+€3,186
Taxes
-€12,347
Result 2025
€356,050
raises the resultlowers the result
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.
From operations
-€569,801
Investment
+€50,000
Financing
-€5,421
Cash 2024
€718,541
From operations (derived)
-€569,801
Net result for the year
+€356,050
Depreciation
+€76,239
Receivables after one year
-€65,552
Receivables within one year
-€905,464
Deferred charges and accrued income
-€11,230
Provisions
-€3,905
Trade debts
+€1,445
Tax, wage and social debts
-€8,398
Other debts
-€5,849
Accrued charges and deferred income
-€3,138
Investment (derived)
+€50,000
Investment in fixed assets (net)
+€50,000
Financing
-€5,421
Debts after one year
-€5,421
Cash 2025
€193,319
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,770,518 | €10,101,302 | +€330,784 | +3.4% |
| Fixed assets | 21/28 | €3,845,412 | €3,719,173 | -€126,239 | -3.3% |
| Tangible fixed assets | 22/27 | €1,578,413 | €1,502,174 | -€76,239 | -4.8% |
| Land and buildings | 22 | €1,573,126 | €1,499,398 | -€73,729 | -4.7% |
| Furniture and vehicles | 24 | €5,287 | €2,777 | -€2,510 | -47.5% |
| Financial fixed assets | 28 | €2,266,999 | €2,216,999 | -€50,000 | -2.2% |
| Current assets | 29/58 | €5,925,106 | €6,382,129 | +€457,023 | +7.7% |
| Amounts receivable after more than one year | 29 | - | €65,552 | +€65,552 | |
| Other amounts receivable | 291 | - | €65,552 | +€65,552 | |
| Amounts receivable within one year | 40/41 | €4,406,106 | €5,311,570 | +€905,464 | +20.6% |
| Trade receivables | 40 | €193,223 | €193,136 | -€87 | 0.0% |
| Other amounts receivable | 41 | €4,212,883 | €5,118,434 | +€905,551 | +21.5% |
| Current investments | 50/53 | €500,000 | €500,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €718,541 | €193,319 | -€525,222 | -73.1% |
| Deferred charges and accrued income | 490/1 | €300,459 | €311,688 | +€11,230 | +3.7% |
| Total equity and liabilities | 10/49 | €9,770,518 | €10,101,302 | +€330,784 | +3.4% |
| Equity | 10/15 | €9,583,060 | €9,939,110 | +€356,050 | +3.7% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €8,635,506 | €8,623,793 | -€11,714 | -0.1% |
| Non-distributable reserves | 130/1 | €36,000 | €36,000 | = | 0.0% |
| Legal reserve | 130 | €36,000 | €36,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €347,150 | €335,436 | -€11,714 | -3.4% |
| Distributable reserves | 133 | €8,252,357 | €8,252,357 | = | 0.0% |
| Profit (loss) carried forward | 14 | €647,554 | €1,015,318 | +€367,764 | +56.8% |
| Provisions and deferred taxes | 16 | €123,884 | €119,979 | -€3,905 | -3.2% |
| Deferred taxes | 168 | €123,884 | €119,979 | -€3,905 | -3.2% |
| Amounts payable | 17/49 | €63,574 | €42,212 | -€21,361 | -33.6% |
| Amounts payable after more than one year | 17 | €5,421 | - | -€5,421 | |
| Other amounts payable | 178/9 | €5,421 | - | -€5,421 | |
| Amounts payable within one year | 42/48 | €55,015 | €42,212 | -€12,802 | -23.3% |
| Trade debts | 44 | €881 | €2,326 | +€1,445 | +164% |
| Suppliers | 440/4 | €881 | €2,326 | +€1,445 | +164% |
| Taxes, remuneration and social security | 45 | €41,715 | €33,316 | -€8,398 | -20.1% |
| Taxes | 450/3 | €41,715 | €33,316 | -€8,398 | -20.1% |
| Other amounts payable | 47/48 | €12,419 | €6,570 | -€5,849 | -47.1% |
| Accrued charges and deferred income | 492/3 | €3,138 | - | -€3,138 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,239 | €76,239 | = | 0.0% |
| Other operating charges | 640/8 | €8,133 | €8,344 | +€211 | +2.6% |
| Gross operating margin | 9900 | €506,351 | €484,829 | -€21,522 | -4.3% |
| Operating profit (loss) | 9901 | €421,979 | €400,245 | -€21,733 | -5.2% |
| Financial income | 75/76B | €322,620 | €73,724 | -€248,896 | -77.1% |
| Recurring financial income | 75 | €322,620 | €73,724 | -€248,896 | -77.1% |
| Financial charges | 65/66B | €3,263 | €78 | -€3,186 | -97.6% |
| Recurring financial charges | 65 | €3,263 | €78 | -€3,186 | -97.6% |
| Profit (loss) for the period before taxes | 9903 | €741,335 | €473,892 | -€267,444 | -36.1% |
| Transfer from deferred taxes | 780 | €3,905 | €3,905 | = | 0.0% |
| Income taxes | 67/77 | €109,400 | €121,746 | +€12,347 | +11.3% |
| Profit (loss) for the period | 9904 | €635,840 | €356,050 | -€279,790 | -44.0% |
| Transfer from tax-exempt reserves | 789 | €11,714 | €11,714 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €647,554 | €367,764 | -€279,790 | -43.2% |
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 29 October 2026 via checked.be.