P&I CONSTRUCTIONS: 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&I CONSTRUCTIONS
Largest movements
- Cash +€32,610
up €32,610 (+40.4%), from €80,700 to €113,310
mainly Net result for the year (+€34,502) and Other debts (+€15,858)
- Tangible fixed assets -€8,628
down €8,628 (-22.6%), from €38,207 to €29,579
of which Furniture and vehicles: -€10,589
- Receivables within one year -€7,514
down €7,514 (-31.1%), from €24,167 to €16,653
of which Other amounts receivable: -€7,970
- Deferred charges and accrued income +€2,154
up €2,154 (+9700.5%), from €22 to €2,176
- Reserves +€17,895
up €17,895 (+17.1%), from €104,405 to €122,300
of which Distributable reserves: +€17,895
- Other debts +€15,858
new in 2025: €15,858
- Current portion of long-term debt -€5,743
down €5,743 (-57.9%), from €9,913 to €4,170
- Debts after one year -€4,170
no longer reported in 2025 (was €4,170)
- Trade debts -€3,433
down €3,433 (-66.9%), from €5,127 to €1,695
- Gross operating margin +€23,505
up €23,505 (+58.2%), from €40,353 to €63,858
- Taxes +€7,168
up €7,168 (+94.6%), from €7,577 to €14,746
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.
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 | €144,624 | €163,245 | +€18,622 | +12.9% |
| Fixed assets | 21/28 | €39,735 | €31,106 | -€8,628 | -21.7% |
| Tangible fixed assets | 22/27 | €38,207 | €29,579 | -€8,628 | -22.6% |
| Land and buildings | 22 | €17,674 | €18,826 | +€1,153 | +6.5% |
| Plant, machinery and equipment | 23 | €3,417 | €4,225 | +€808 | +23.7% |
| Furniture and vehicles | 24 | €17,117 | €6,528 | -€10,589 | -61.9% |
| Financial fixed assets | 28 | €1,527 | €1,527 | = | 0.0% |
| Current assets | 29/58 | €104,889 | €132,139 | +€27,250 | +26.0% |
| Amounts receivable within one year | 40/41 | €24,167 | €16,653 | -€7,514 | -31.1% |
| Trade receivables | 40 | €14,999 | €15,455 | +€457 | +3.0% |
| Other amounts receivable | 41 | €9,169 | €1,198 | -€7,970 | -86.9% |
| Cash at bank and in hand | 54/58 | €80,700 | €113,310 | +€32,610 | +40.4% |
| Deferred charges and accrued income | 490/1 | €22 | €2,176 | +€2,154 | +9700.5% |
| Total equity and liabilities | 10/49 | €144,624 | €163,245 | +€18,622 | +12.9% |
| Equity | 10/15 | €122,997 | €140,892 | +€17,895 | +14.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €104,405 | €122,300 | +€17,895 | +17.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €102,545 | €120,441 | +€17,895 | +17.5% |
| Amounts payable | 17/49 | €21,627 | €22,353 | +€726 | +3.4% |
| Amounts payable after more than one year | 17 | €4,170 | - | -€4,170 | |
| Financial debts | 170/4 | €4,170 | - | -€4,170 | |
| Amounts payable within one year | 42/48 | €17,457 | €22,353 | +€4,896 | +28.0% |
| Current portion of amounts payable after more than one year | 42 | €9,913 | €4,170 | -€5,743 | -57.9% |
| Financial debts | 43 | €2,417 | - | -€2,417 | |
| Credit institutions | 430/8 | €2,417 | - | -€2,417 | |
| Trade debts | 44 | €5,127 | €1,695 | -€3,433 | -66.9% |
| Suppliers | 440/4 | €5,127 | €1,695 | -€3,433 | -66.9% |
| Taxes, remuneration and social security | 45 | - | €630 | +€630 | |
| Taxes | 450/3 | - | €630 | +€630 | |
| Other amounts payable | 47/48 | - | €15,858 | +€15,858 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,221 | €14,426 | +€205 | +1.4% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €40,353 | €63,858 | +€23,505 | +58.2% |
| Operating profit (loss) | 9901 | €26,070 | €49,370 | +€23,300 | +89.4% |
| Financial income | 75/76B | €365 | €468 | +€103 | +28.3% |
| Recurring financial income | 75 | €365 | €468 | +€103 | +28.3% |
| Financial charges | 65/66B | €755 | €590 | -€166 | -21.9% |
| Recurring financial charges | 65 | €755 | €590 | -€166 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €25,679 | €49,248 | +€23,569 | +91.8% |
| Income taxes | 67/77 | €7,577 | €14,746 | +€7,168 | +94.6% |
| Profit (loss) for the period | 9904 | €18,102 | €34,502 | +€16,401 | +90.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,102 | €34,502 | +€16,401 | +90.6% |
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 11 October 2026 via checked.be.