P.J.T.: 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.T.
Largest movements
- Tangible fixed assets -€33,054
down €33,054 (-82.7%), from €39,976 to €6,922
- Cash +€25,767
up €25,767 (+22.5%), from €114,751 to €140,517
mainly Net result for the year (+€35,925) and Investment in fixed assets (net) (+€23,868)
- Receivables within one year -€4,110
down €4,110 (-3.8%), from €108,467 to €104,357
of which Trade receivables: -€23,735
- Profit (loss) carried forward +€35,925
up €35,925 (+28.7%), from €125,282 to €161,207
- Trade debts -€29,205
down €29,205 (-40.3%), from €72,466 to €43,261
of which Bills of exchange payable: -€27,977
- Debts after one year -€15,756
down €15,756 (-75.9%), from €20,769 to €5,012
- Short-term financial debts -€12,348
no longer reported in 2025 (was €12,348)
- Tax, wage and social debts +€10,951
up €10,951 (+218%), from €5,032 to €15,982
of which Taxes: +€9,738
- Turnover -€92,257
down €92,257 (-14.2%), from €647,939 to €555,682
- Write-downs -€67,280
no longer reported in 2025 (was €67,280)
- Gross operating margin -€35,526
down €35,526 (-19.1%), from €185,673 to €150,146
- Purchases and services -€12,992
down €12,992 (-2.8%), from €469,560 to €456,568
- Financial charges +€9,790
up €9,790 (+328%), from €2,984 to €12,774
of which Non-recurring financial charges: +€10,658
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 | €264,445 | €252,964 | -€11,482 | -4.3% |
| Fixed assets | 21/28 | €40,336 | €7,282 | -€33,054 | -81.9% |
| Tangible fixed assets | 22/27 | €39,976 | €6,922 | -€33,054 | -82.7% |
| Furniture and vehicles | 24 | €39,976 | €6,922 | -€33,054 | -82.7% |
| Financial fixed assets | 28 | €360 | €360 | = | 0.0% |
| Current assets | 29/58 | €224,110 | €245,682 | +€21,573 | +9.6% |
| Amounts receivable within one year | 40/41 | €108,467 | €104,357 | -€4,110 | -3.8% |
| Trade receivables | 40 | €67,118 | €43,383 | -€23,735 | -35.4% |
| Other amounts receivable | 41 | €41,349 | €60,974 | +€19,625 | +47.5% |
| Cash at bank and in hand | 54/58 | €114,751 | €140,517 | +€25,767 | +22.5% |
| Deferred charges and accrued income | 490/1 | €892 | €808 | -€84 | -9.5% |
| Total equity and liabilities | 10/49 | €264,445 | €252,964 | -€11,482 | -4.3% |
| Equity | 10/15 | €133,342 | €169,267 | +€35,925 | +26.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,282 | €161,207 | +€35,925 | +28.7% |
| Amounts payable | 17/49 | €131,103 | €83,696 | -€47,407 | -36.2% |
| Amounts payable after more than one year | 17 | €20,769 | €5,012 | -€15,756 | -75.9% |
| Financial debts | 170/4 | €20,769 | €5,012 | -€15,756 | -75.9% |
| Amounts payable within one year | 42/48 | €110,335 | €78,684 | -€31,651 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €16,804 | €15,756 | -€1,048 | -6.2% |
| Financial debts | 43 | €12,348 | - | -€12,348 | |
| Credit institutions | 430/8 | €12,348 | - | -€12,348 | |
| Trade debts | 44 | €72,466 | €43,261 | -€29,205 | -40.3% |
| Suppliers | 440/4 | €6,931 | €5,703 | -€1,228 | -17.7% |
| Bills of exchange payable | 441 | €65,536 | €37,559 | -€27,977 | -42.7% |
| Advances received on contracts in progress | 46 | €3,684 | €3,684 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €5,032 | €15,982 | +€10,951 | +218% |
| Taxes | 450/3 | €4,560 | €14,298 | +€9,738 | +214% |
| Remuneration and social security | 454/9 | €472 | €1,684 | +€1,213 | +257% |
| Turnover | 70 | €647,939 | €555,682 | -€92,257 | -14.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €469,560 | €456,568 | -€12,992 | -2.8% |
| Remuneration, social security and pensions | 62 | €80,624 | €83,705 | +€3,081 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,411 | €9,187 | -€8,224 | -47.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €67,280 | - | -€67,280 | |
| Other operating charges | 640/8 | €1,846 | €8,555 | +€6,710 | +364% |
| Gross operating margin | 9900 | €185,673 | €150,146 | -€35,526 | -19.1% |
| Operating profit (loss) | 9901 | €18,512 | €48,699 | +€30,187 | +163% |
| Financial charges | 65/66B | €2,984 | €12,774 | +€9,790 | +328% |
| Recurring financial charges | 65 | €2,984 | €2,116 | -€868 | -29.1% |
| Non-recurring financial charges | 66B | - | €10,658 | +€10,658 | |
| Profit (loss) for the period before taxes | 9903 | €15,528 | €35,925 | +€20,397 | +131% |
| Income taxes | 67/77 | €4,566 | - | -€4,566 | |
| Profit (loss) for the period | 9904 | €10,962 | €35,925 | +€24,963 | +228% |
| Profit (loss) for the period to be appropriated | 9905 | €10,962 | €35,925 | +€24,963 | +228% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.