P.J.: 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.J.
Largest movements
- Current investments +€200,000
up €200,000, from €0 to €200,000
- Cash -€198,759
down €198,759 (-88.1%), from €225,485 to €26,726
mainly Current investments (-€200,000) and Tax, wage and social debts (-€1,009)
- Receivables within one year -€2,763
down €2,763 (-76.7%), from €3,603 to €840
of which Other amounts receivable: -€1,504
No liability line moved by more than 1% of the balance sheet total.
- Other operating charges +€94,067
up €94,067 (+46315.7%), from €203 to €94,270
- Write-downs -€93,859
down €93,859, from €0 to -€93,859
- Staff costs -€28,233
down €28,233 (-100.0%), from €28,233 to €0
- Financial income -€5,148
down €5,148 (-70.9%), from €7,258 to €2,110
- Gross operating margin +€830
up €830 (+28.8%), from -€2,877 to -€2,047
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 | €229,088 | €227,566 | -€1,522 | -0.7% |
| Current assets | 29/58 | €229,088 | €227,566 | -€1,522 | -0.7% |
| Amounts receivable within one year | 40/41 | €3,603 | €840 | -€2,763 | -76.7% |
| Trade receivables | 40 | €1,259 | €0 | -€1,259 | -100.0% |
| Other amounts receivable | 41 | €2,344 | €840 | -€1,504 | -64.2% |
| Current investments | 50/53 | €0 | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €225,485 | €26,726 | -€198,759 | -88.1% |
| Total equity and liabilities | 10/49 | €229,088 | €227,566 | -€1,522 | -0.7% |
| Equity | 10/15 | €227,856 | €227,377 | -€478 | -0.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €221,656 | €221,177 | -€478 | -0.2% |
| Distributable reserves | 133 | €221,656 | €221,177 | -€478 | -0.2% |
| Amounts payable | 17/49 | €1,233 | €189 | -€1,044 | -84.7% |
| Amounts payable within one year | 42/48 | €1,233 | €189 | -€1,044 | -84.7% |
| Trade debts | 44 | €223 | €189 | -€35 | -15.5% |
| Suppliers | 440/4 | €223 | €189 | -€35 | -15.5% |
| Taxes, remuneration and social security | 45 | €1,009 | €0 | -€1,009 | -100.0% |
| Remuneration and social security | 454/9 | €1,009 | €0 | -€1,009 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €28,233 | €0 | -€28,233 | -100.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€93,859 | -€93,859 | |
| Other operating charges | 640/8 | €203 | €94,270 | +€94,067 | +46315.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€2,877 | -€2,047 | +€830 | +28.8% |
| Operating profit (loss) | 9901 | -€31,314 | -€2,458 | +€28,856 | +92.1% |
| Financial income | 75/76B | €7,258 | €2,110 | -€5,148 | -70.9% |
| Recurring financial income | 75 | €7,258 | €2,110 | -€5,148 | -70.9% |
| Financial charges | 65/66B | €129 | €130 | +€1 | +1.0% |
| Recurring financial charges | 65 | €129 | €130 | +€1 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | -€24,185 | -€478 | +€23,706 | +98.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€24,185 | -€478 | +€23,706 | +98.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,185 | -€478 | +€23,706 | +98.0% |
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 9 October 2026 via checked.be.