P.F.CONSTRUCTION: 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.F.CONSTRUCTION
Largest movements
- Cash +€232,195
up €232,195 (+114%), from €204,028 to €436,222
mainly Net result for the year (+€219,811) and Trade debts (+€195,470)
- Stocks and contracts +€137,578
up €137,578 (+293%), from €46,959 to €184,536
- Receivables within one year +€107,833
up €107,833 (+51.5%), from €209,264 to €317,098
of which Trade receivables: +€176,284
- Reserves +€219,811
up €219,811 (+82.8%), from €265,565 to €485,375
- Trade debts +€195,470
up €195,470 (+149%), from €130,977 to €326,447
- Tax, wage and social debts +€72,129
up €72,129 (+241%), from €29,928 to €102,056
of which Taxes: +€68,015
- Gross operating margin +€221,589
up €221,589 (+68.7%), from €322,532 to €544,121
- Staff costs +€49,766
up €49,766 (+29.8%), from €166,739 to €216,505
- Taxes +€49,742
up €49,742 (+134%), from €37,091 to €86,833
- Financial charges -€10,308
down €10,308 (-54.9%), from €18,789 to €8,481
of which Financial charges: -€9,706
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 | €489,112 | €967,280 | +€478,168 | +97.8% |
| Fixed assets | 21/28 | €24,456 | €23,112 | -€1,344 | -5.5% |
| Tangible fixed assets | 22/27 | €23,230 | €17,961 | -€5,269 | -22.7% |
| Plant, machinery and equipment | 23 | €18,739 | €15,265 | -€3,474 | -18.5% |
| Furniture and vehicles | 24 | €4,491 | €2,696 | -€1,795 | -40.0% |
| Financial fixed assets | 28 | €1,226 | €5,151 | +€3,925 | +320% |
| Current assets | 29/58 | €464,656 | €944,168 | +€479,513 | +103% |
| Stocks and contracts in progress | 3 | €46,959 | €184,536 | +€137,578 | +293% |
| Contracts in progress | 37 | €46,959 | €184,536 | +€137,578 | +293% |
| Amounts receivable within one year | 40/41 | €209,264 | €317,098 | +€107,833 | +51.5% |
| Trade receivables | 40 | €98,786 | €275,071 | +€176,284 | +178% |
| Other amounts receivable | 41 | €110,478 | €42,027 | -€68,451 | -62.0% |
| Cash at bank and in hand | 54/58 | €204,028 | €436,222 | +€232,195 | +114% |
| Deferred charges and accrued income | 490/1 | €4,405 | €6,312 | +€1,907 | +43.3% |
| Total equity and liabilities | 10/49 | €489,112 | €967,280 | +€478,168 | +97.8% |
| Equity | 10/15 | €306,467 | €526,278 | +€219,811 | +71.7% |
| Contributions | 10/11 | €40,902 | €40,902 | = | 0.0% |
| Contributions outside capital | 11 | €40,902 | €40,902 | = | 0.0% |
| Other | 1109/19 | €40,902 | €40,902 | = | 0.0% |
| Reserves | 13 | €265,565 | €485,375 | +€219,811 | +82.8% |
| Distributable reserves | 133 | €265,565 | €485,375 | +€219,811 | +82.8% |
| Amounts payable | 17/49 | €182,645 | €441,002 | +€258,358 | +141% |
| Amounts payable after more than one year | 17 | €6,415 | - | -€6,415 | |
| Financial debts | 170/4 | €6,415 | - | -€6,415 | |
| Amounts payable within one year | 42/48 | €174,460 | €441,002 | +€266,543 | +153% |
| Current portion of amounts payable after more than one year | 42 | €13,555 | €12,499 | -€1,057 | -7.8% |
| Trade debts | 44 | €130,977 | €326,447 | +€195,470 | +149% |
| Suppliers | 440/4 | €130,977 | €326,447 | +€195,470 | +149% |
| Taxes, remuneration and social security | 45 | €29,928 | €102,056 | +€72,129 | +241% |
| Taxes | 450/3 | €18,139 | €86,154 | +€68,015 | +375% |
| Remuneration and social security | 454/9 | €11,789 | €15,902 | +€4,114 | +34.9% |
| Accrued charges and deferred income | 492/3 | €1,770 | - | -€1,770 | |
| Non-recurring operating income | 76A | €4,324 | €1,610 | -€2,714 | -62.8% |
| Remuneration, social security and pensions | 62 | €166,739 | €216,505 | +€49,766 | +29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,098 | €6,762 | +€2,664 | +65.0% |
| Other operating charges | 640/8 | €1,517 | €3,326 | +€1,809 | +119% |
| Non-recurring operating charges | 66A | €1,292 | €3,601 | +€2,309 | +179% |
| Gross operating margin | 9900 | €322,532 | €544,121 | +€221,589 | +68.7% |
| Operating profit (loss) | 9901 | €148,887 | €313,927 | +€165,040 | +111% |
| Financial income | 75/76B | €1,958 | €1,198 | -€760 | -38.8% |
| Recurring financial income | 75 | €1,958 | €1,198 | -€760 | -38.8% |
| Financial charges | 65/66B | €18,789 | €8,481 | -€10,308 | -54.9% |
| Recurring financial charges | 65 | €17,417 | €7,711 | -€9,706 | -55.7% |
| Non-recurring financial charges | 66B | €1,371 | €770 | -€601 | -43.8% |
| Profit (loss) for the period before taxes | 9903 | €132,057 | €306,644 | +€174,587 | +132% |
| Income taxes | 67/77 | €37,091 | €86,833 | +€49,742 | +134% |
| Profit (loss) for the period | 9904 | €94,966 | €219,811 | +€124,845 | +131% |
| Profit (loss) for the period to be appropriated | 9905 | €94,966 | €219,811 | +€124,845 | +131% |
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 23 October 2026 via checked.be.