P & F ENGINEERING: 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 & F ENGINEERING
Largest movements
- Tangible fixed assets -€212,915
down €212,915 (-57.0%), from €373,812 to €160,897
of which Land and buildings: -€158,479
- Cash +€131,595
up €131,595 (+5030.4%), from €2,616 to €134,211
mainly Investment in fixed assets (net) (+€175,594) and Net result for the year (+€119,443)
- Receivables within one year +€17,387
up €17,387 (+10.9%), from €158,925 to €176,312
of which Other amounts receivable: +€44,775
- Debts after one year -€136,356
down €136,356 (-69.3%), from €196,799 to €60,443
- Other debts +€93,550
up €93,550 (+460.8%), from €20,300 to €113,850
- Current portion of long-term debt -€14,709
down €14,709 (-29.4%), from €50,012 to €35,303
- Tax, wage and social debts -€6,534
down €6,534 (-32.7%), from €19,993 to €13,459
- Reserves +€5,550
up €5,550 (+3.2%), from €173,910 to €179,460
- Gross operating margin +€64,012
up €64,012 (+40.0%), from €159,985 to €223,997
- Taxes +€30,251
up €30,251 (+98.8%), from €30,612 to €60,863
- Depreciation -€20,396
down €20,396 (-35.3%), from €57,717 to €37,321
- Other operating charges -€2,985
down €2,985 (-38.4%), from €7,777 to €4,792
- Financial income +€2,355
up €2,355 (+47.7%), from €4,937 to €7,292
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 | €544,051 | €481,029 | -€63,022 | -11.6% |
| Fixed assets | 21/28 | €374,312 | €161,397 | -€212,915 | -56.9% |
| Tangible fixed assets | 22/27 | €373,812 | €160,897 | -€212,915 | -57.0% |
| Land and buildings | 22 | €233,114 | €74,635 | -€158,479 | -68.0% |
| Plant, machinery and equipment | 23 | €4,976 | €8,927 | +€3,951 | +79.4% |
| Furniture and vehicles | 24 | €94,570 | €66,810 | -€27,760 | -29.4% |
| Other tangible fixed assets | 26 | €41,152 | €10,525 | -€30,627 | -74.4% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €169,739 | €319,632 | +€149,893 | +88.3% |
| Stocks and contracts in progress | 3 | €1,501 | - | -€1,501 | |
| Stocks | 30/36 | €1,501 | - | -€1,501 | |
| Amounts receivable within one year | 40/41 | €158,925 | €176,312 | +€17,387 | +10.9% |
| Trade receivables | 40 | €49,575 | €22,187 | -€27,388 | -55.2% |
| Other amounts receivable | 41 | €109,350 | €154,125 | +€44,775 | +40.9% |
| Cash at bank and in hand | 54/58 | €2,616 | €134,211 | +€131,595 | +5030.4% |
| Deferred charges and accrued income | 490/1 | €6,697 | €9,109 | +€2,412 | +36.0% |
| Total equity and liabilities | 10/49 | €544,051 | €481,029 | -€63,022 | -11.6% |
| Equity | 10/15 | €233,837 | €239,430 | +€5,593 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €173,910 | €179,460 | +€5,550 | +3.2% |
| Distributable reserves | 133 | €173,910 | €179,460 | +€5,550 | +3.2% |
| Profit (loss) carried forward | 14 | €41,327 | €41,370 | +€43 | +0.1% |
| Amounts payable | 17/49 | €310,214 | €241,599 | -€68,615 | -22.1% |
| Amounts payable after more than one year | 17 | €196,799 | €60,443 | -€136,356 | -69.3% |
| Financial debts | 170/4 | €196,799 | €60,443 | -€136,356 | -69.3% |
| Amounts payable within one year | 42/48 | €110,965 | €180,340 | +€69,375 | +62.5% |
| Current portion of amounts payable after more than one year | 42 | €50,012 | €35,303 | -€14,709 | -29.4% |
| Financial debts | 43 | €2,131 | €2,112 | -€19 | -0.9% |
| Credit institutions | 430/8 | €2,131 | €2,112 | -€19 | -0.9% |
| Trade debts | 44 | €18,529 | €15,616 | -€2,913 | -15.7% |
| Suppliers | 440/4 | €18,529 | €15,616 | -€2,913 | -15.7% |
| Taxes, remuneration and social security | 45 | €19,993 | €13,459 | -€6,534 | -32.7% |
| Taxes | 450/3 | €19,993 | €13,459 | -€6,534 | -32.7% |
| Other amounts payable | 47/48 | €20,300 | €113,850 | +€93,550 | +460.8% |
| Accrued charges and deferred income | 492/3 | €2,450 | €816 | -€1,634 | -66.7% |
| Non-recurring operating income | 76A | - | €112,010 | +€112,010 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,717 | €37,321 | -€20,396 | -35.3% |
| Other operating charges | 640/8 | €7,777 | €4,792 | -€2,985 | -38.4% |
| Gross operating margin | 9900 | €159,985 | €223,997 | +€64,012 | +40.0% |
| Operating profit (loss) | 9901 | €94,491 | €181,884 | +€87,393 | +92.5% |
| Financial income | 75/76B | €4,937 | €7,292 | +€2,355 | +47.7% |
| Recurring financial income | 75 | €4,937 | €7,292 | +€2,355 | +47.7% |
| Financial charges | 65/66B | €9,765 | €8,870 | -€895 | -9.2% |
| Recurring financial charges | 65 | €9,765 | €8,870 | -€895 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €89,663 | €180,306 | +€90,643 | +101.1% |
| Income taxes | 67/77 | €30,612 | €60,863 | +€30,251 | +98.8% |
| Profit (loss) for the period | 9904 | €59,051 | €119,443 | +€60,392 | +102.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,051 | €119,443 | +€60,392 | +102.3% |
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 7 October 2026 via checked.be.