P.G. brush: 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.G. brush
Largest movements
- Cash +€86,333
up €86,333 (+65.2%), from €132,326 to €218,659
mainly Debts after one year (+€121,530) and Tax, wage and social debts (+€50,128)
- Receivables within one year -€27,306
down €27,306 (-35.3%), from €77,336 to €50,030
of which Trade receivables: -€21,962
- Tangible fixed assets -€21,569
down €21,569 (-33.4%), from €64,606 to €43,038
of which Furniture and vehicles: -€13,726
- Stocks and contracts +€5,681
up €5,681 (+16.9%), from €33,684 to €39,365
- Debts after one year +€121,530
new in 2025: €121,530
- Other debts -€118,088
down €118,088 (-95.1%), from €124,111 to €6,023
- Tax, wage and social debts +€50,128
up €50,128 (+379%), from €13,219 to €63,346
of which Remuneration and social security: +€50,194
- Profit (loss) carried forward -€11,972
new in 2025: -€11,972
- Gross operating margin -€16,251
down €16,251 (-17.9%), from €90,695 to €74,444
- Financial charges +€9,579
up €9,579 (+550%), from €1,742 to €11,321
- Staff costs -€3,180
down €3,180 (-5.7%), from €56,044 to €52,864
- Taxes -€3,089
down €3,089, from €2,903 to -€186
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 | €310,016 | €353,167 | +€43,151 | +13.9% |
| Fixed assets | 21/28 | €64,606 | €43,038 | -€21,569 | -33.4% |
| Tangible fixed assets | 22/27 | €64,606 | €43,038 | -€21,569 | -33.4% |
| Land and buildings | 22 | €10,270 | €10,270 | = | 0.0% |
| Plant, machinery and equipment | 23 | €13,069 | €5,226 | -€7,843 | -60.0% |
| Furniture and vehicles | 24 | €41,267 | €27,541 | -€13,726 | -33.3% |
| Current assets | 29/58 | €245,410 | €310,129 | +€64,720 | +26.4% |
| Stocks and contracts in progress | 3 | €33,684 | €39,365 | +€5,681 | +16.9% |
| Stocks | 30/36 | €33,684 | €39,365 | +€5,681 | +16.9% |
| Amounts receivable within one year | 40/41 | €77,336 | €50,030 | -€27,306 | -35.3% |
| Trade receivables | 40 | €71,992 | €50,030 | -€21,962 | -30.5% |
| Other amounts receivable | 41 | €5,344 | - | -€5,344 | |
| Cash at bank and in hand | 54/58 | €132,326 | €218,659 | +€86,333 | +65.2% |
| Deferred charges and accrued income | 490/1 | €2,063 | €2,076 | +€12 | +0.6% |
| Total equity and liabilities | 10/49 | €310,016 | €353,167 | +€43,151 | +13.9% |
| Equity | 10/15 | €152,784 | €140,812 | -€11,972 | -7.8% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Capital | 10 | €31,000 | €31,000 | = | 0.0% |
| Issued capital | 100 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €121,784 | €121,784 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,839 | €3,839 | = | 0.0% |
| Distributable reserves | 133 | €114,844 | €114,844 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€11,972 | -€11,972 | |
| Amounts payable | 17/49 | €157,232 | €212,355 | +€55,123 | +35.1% |
| Amounts payable after more than one year | 17 | - | €121,530 | +€121,530 | |
| Other amounts payable | 178/9 | - | €121,530 | +€121,530 | |
| Amounts payable within one year | 42/48 | €157,232 | €90,824 | -€66,408 | -42.2% |
| Trade debts | 44 | €19,903 | €21,455 | +€1,552 | +7.8% |
| Suppliers | 440/4 | €19,903 | €21,455 | +€1,552 | +7.8% |
| Taxes, remuneration and social security | 45 | €13,219 | €63,346 | +€50,128 | +379% |
| Taxes | 450/3 | €8,412 | €8,346 | -€67 | -0.8% |
| Remuneration and social security | 454/9 | €4,807 | €55,001 | +€50,194 | +1,044% |
| Other amounts payable | 47/48 | €124,111 | €6,023 | -€118,088 | -95.1% |
| Remuneration, social security and pensions | 62 | €56,044 | €52,864 | -€3,180 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,268 | €18,980 | +€712 | +3.9% |
| Other operating charges | 640/8 | €4,302 | €4,527 | +€225 | +5.2% |
| Gross operating margin | 9900 | €90,695 | €74,444 | -€16,251 | -17.9% |
| Operating profit (loss) | 9901 | €12,080 | -€1,927 | -€14,007 | |
| Financial income | 75/76B | €648 | €1,091 | +€444 | +68.5% |
| Recurring financial income | 75 | €648 | €1,091 | +€444 | +68.5% |
| Financial charges | 65/66B | €1,742 | €11,321 | +€9,579 | +550% |
| Recurring financial charges | 65 | €1,742 | €11,321 | +€9,579 | +550% |
| Profit (loss) for the period before taxes | 9903 | €10,985 | -€12,157 | -€23,142 | |
| Income taxes | 67/77 | €2,903 | -€186 | -€3,089 | |
| Profit (loss) for the period | 9904 | €8,082 | -€11,972 | -€20,054 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,082 | -€11,972 | -€20,054 |
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 26 October 2026 via checked.be.