P.F.P.: what changed
What changed
P.F.P.
filed annual accounts (NBB)
Net result for the year
-€27,335
2024 · -€27,595+€260
Equity
€4,911
2024 · €32,246-€27,335
Cash
€8,262
2024 · €2,833+€5,429
Balance sheet total
€876,422
2024 · €889,712-€13,290
Largest movements
Assets
- Tangible fixed assets -€14,879
down €14,879 (-1.7%), from €878,201 to €863,322
of which Furniture and vehicles: -€18,450
Equity and liabilities
- Debts after one year +€20,039
up €20,039 (+2.6%), from €782,821 to €802,860
of which Financial debts: +€20,039
- Profit (loss) carried forward -€17,436
down €17,436 (-14.0%), from -€124,899 to -€142,335
- Current portion of long-term debt +€12,173
up €12,173 (+102%), from €11,989 to €24,161
- Other debts -€10,422
down €10,422 (-46.5%), from €22,401 to €11,979
- Reserves -€9,899
down €9,899 (-11.2%), from €88,552 to €78,654
Income statement
- Depreciation -€9,524
down €9,524 (-13.1%), from €72,833 to €63,309
- Financial charges +€4,514
up €4,514 (+54.7%), from €8,255 to €12,769
- Other operating charges +€4,349
up €4,349 (+34.3%), from €12,691 to €17,040
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€27,595
Gross operating margin
-€306
Depreciation
+€9,524
Other operating charges
-€4,349
Financial charges
-€4,514
Taxes
+€22
Deferred taxes and other
-€118
Result 2025
-€27,335
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€21,075
Investment
-€47,857
Financing
+€32,212
Cash 2024
€2,833
From operations (derived)
+€21,075
Net result for the year
-€27,335
Depreciation
+€63,309
Receivables within one year
-€1,110
Deferred charges and accrued income
+€4,378
Provisions
-€2,475
Trade debts
-€1,888
Tax, wage and social debts
-€1,290
Other debts
-€10,422
Accrued charges and deferred income
-€2,092
Investment (derived)
-€47,857
Investment in fixed assets (net)
-€47,857
Financing
+€32,212
Debts after one year
+€20,039
Current portion of long-term debt
+€12,173
Cash 2025
€8,262
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €889,712 | €876,422 | -€13,290 | -1.5% |
| Fixed assets | 21/28 | €879,918 | €864,466 | -€15,452 | -1.8% |
| Intangible fixed assets | 21 | €1,717 | €1,145 | -€572 | -33.3% |
| Tangible fixed assets | 22/27 | €878,201 | €863,322 | -€14,879 | -1.7% |
| Land and buildings | 22 | €840,347 | €844,268 | +€3,921 | +0.5% |
| Furniture and vehicles | 24 | €37,154 | €18,704 | -€18,450 | -49.7% |
| Other tangible fixed assets | 26 | €699 | €349 | -€350 | -50.1% |
| Current assets | 29/58 | €9,794 | €11,956 | +€2,161 | +22.1% |
| Amounts receivable within one year | 40/41 | - | €1,110 | +€1,110 | |
| Other amounts receivable | 41 | - | €1,110 | +€1,110 | |
| Cash at bank and in hand | 54/58 | €2,833 | €8,262 | +€5,429 | +192% |
| Deferred charges and accrued income | 490/1 | €6,961 | €2,584 | -€4,378 | -62.9% |
| Total equity and liabilities | 10/49 | €889,712 | €876,422 | -€13,290 | -1.5% |
| Equity | 10/15 | €32,246 | €4,911 | -€27,335 | -84.8% |
| Contributions | 10/11 | €68,592 | €68,592 | = | 0.0% |
| Reserves | 13 | €88,552 | €78,654 | -€9,899 | -11.2% |
| Tax-exempt reserves | 132 | €88,552 | €78,654 | -€9,899 | -11.2% |
| Profit (loss) carried forward | 14 | -€124,899 | -€142,335 | -€17,436 | -14.0% |
| Provisions and deferred taxes | 16 | €32,946 | €30,471 | -€2,475 | -7.5% |
| Deferred taxes | 168 | €32,946 | €30,471 | -€2,475 | -7.5% |
| Amounts payable | 17/49 | €824,521 | €841,040 | +€16,519 | +2.0% |
| Amounts payable after more than one year | 17 | €782,821 | €802,860 | +€20,039 | +2.6% |
| Financial debts | 170/4 | €352,765 | €372,803 | +€20,039 | +5.7% |
| Other amounts payable | 178/9 | €430,057 | €430,057 | = | 0.0% |
| Amounts payable within one year | 42/48 | €39,547 | €38,119 | -€1,427 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €11,989 | €24,161 | +€12,173 | +102% |
| Trade debts | 44 | €2,524 | €636 | -€1,888 | -74.8% |
| Suppliers | 440/4 | €2,524 | €636 | -€1,888 | -74.8% |
| Taxes, remuneration and social security | 45 | €2,633 | €1,343 | -€1,290 | -49.0% |
| Taxes | 450/3 | €1,633 | €1,343 | -€290 | -17.8% |
| Remuneration and social security | 454/9 | €1,000 | €0 | -€1,000 | -100% |
| Other amounts payable | 47/48 | €22,401 | €11,979 | -€10,422 | -46.5% |
| Accrued charges and deferred income | 492/3 | €2,153 | €60 | -€2,092 | -97.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,833 | €63,309 | -€9,524 | -13.1% |
| Other operating charges | 640/8 | €12,691 | €17,040 | +€4,349 | +34.3% |
| Gross operating margin | 9900 | €63,847 | €63,541 | -€306 | -0.5% |
| Operating profit (loss) | 9901 | -€21,677 | -€16,807 | +€4,870 | +22.5% |
| Financial charges | 65/66B | €8,255 | €12,769 | +€4,514 | +54.7% |
| Recurring financial charges | 65 | €8,255 | €12,769 | +€4,514 | +54.7% |
| Profit (loss) for the period before taxes | 9903 | -€29,932 | -€29,576 | +€356 | +1.2% |
| Transfer from deferred taxes | 780 | €2,593 | €2,475 | -€118 | -4.6% |
| Income taxes | 67/77 | €256 | €233 | -€22 | -8.7% |
| Profit (loss) for the period | 9904 | -€27,595 | -€27,335 | +€260 | +0.9% |
| Transfer from tax-exempt reserves | 789 | €10,372 | €9,899 | -€473 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,223 | -€17,436 | -€213 | -1.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.