P.L.M.: 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.L.M.
Largest movements
- Cash +€35,428
up €35,428 (+35.2%), from €100,690 to €136,119
mainly Other debts (+€50,027) and Net result for the year (+€30,326)
- Receivables within one year +€12,662
up €12,662 (+49.9%), from €25,353 to €38,015
of which Other amounts receivable: +€12,062
- Tangible fixed assets -€8,887
down €8,887 (-11.0%), from €80,766 to €71,879
of which Land and buildings: -€5,731
- Receivables after one year -€8,400
down €8,400 (-19.6%), from €42,800 to €34,400
- Other debts +€50,027
up €50,027 (+349,837%), from €14 to €50,041
- Trade debts +€22,453
up €22,453 (+394%), from €5,693 to €28,146
- Reserves -€19,674
down €19,674 (-12.2%), from €161,383 to €141,709
- Tax, wage and social debts -€12,687
down €12,687 (-57.6%), from €22,034 to €9,348
of which Remuneration and social security: -€9,364
- Debts after one year -€10,423
down €10,423 (-28.0%), from €37,214 to €26,790
- Gross operating margin +€18,712
up €18,712 (+11.8%), from €158,910 to €177,622
- Depreciation -€5,712
down €5,712 (-39.1%), from €14,599 to €8,887
- Taxes +€5,257
up €5,257 (+63.3%), from €8,300 to €13,558
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 | €257,452 | €285,057 | +€27,605 | +10.7% |
| Fixed assets | 21/28 | €81,792 | €71,879 | -€9,913 | -12.1% |
| Intangible fixed assets | 21 | €1,026 | - | -€1,026 | |
| Tangible fixed assets | 22/27 | €80,766 | €71,879 | -€8,887 | -11.0% |
| Land and buildings | 22 | €71,490 | €65,759 | -€5,731 | -8.0% |
| Plant, machinery and equipment | 23 | €6,093 | €4,358 | -€1,735 | -28.5% |
| Furniture and vehicles | 24 | €3,184 | €1,762 | -€1,422 | -44.7% |
| Current assets | 29/58 | €175,660 | €213,178 | +€37,518 | +21.4% |
| Amounts receivable after more than one year | 29 | €42,800 | €34,400 | -€8,400 | -19.6% |
| Other amounts receivable | 291 | €42,800 | €34,400 | -€8,400 | -19.6% |
| Amounts receivable within one year | 40/41 | €25,353 | €38,015 | +€12,662 | +49.9% |
| Trade receivables | 40 | - | €600 | +€600 | |
| Other amounts receivable | 41 | €25,353 | €37,415 | +€12,062 | +47.6% |
| Cash at bank and in hand | 54/58 | €100,690 | €136,119 | +€35,428 | +35.2% |
| Deferred charges and accrued income | 490/1 | €6,817 | €4,644 | -€2,173 | -31.9% |
| Total equity and liabilities | 10/49 | €257,452 | €285,057 | +€27,605 | +10.7% |
| Equity | 10/15 | €179,983 | €160,309 | -€19,674 | -10.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €161,383 | €141,709 | -€19,674 | -12.2% |
| Distributable reserves | 133 | €161,383 | €141,709 | -€19,674 | -12.2% |
| Amounts payable | 17/49 | €77,469 | €124,748 | +€47,279 | +61.0% |
| Amounts payable after more than one year | 17 | €37,214 | €26,790 | -€10,423 | -28.0% |
| Financial debts | 170/4 | €37,214 | €26,790 | -€10,423 | -28.0% |
| Amounts payable within one year | 42/48 | €40,255 | €97,958 | +€57,703 | +143% |
| Current portion of amounts payable after more than one year | 42 | €10,254 | €10,423 | +€169 | +1.7% |
| Trade debts | 44 | €5,693 | €28,146 | +€22,453 | +394% |
| Suppliers | 440/4 | €5,693 | €28,146 | +€22,453 | +394% |
| Advances received on contracts in progress | 46 | €2,260 | - | -€2,260 | |
| Taxes, remuneration and social security | 45 | €22,034 | €9,348 | -€12,687 | -57.6% |
| Taxes | 450/3 | €3,323 | - | -€3,323 | |
| Remuneration and social security | 454/9 | €18,711 | €9,348 | -€9,364 | -50.0% |
| Other amounts payable | 47/48 | €14 | €50,041 | +€50,027 | +349,837% |
| Remuneration, social security and pensions | 62 | €123,590 | €122,562 | -€1,027 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,599 | €8,887 | -€5,712 | -39.1% |
| Other operating charges | 640/8 | €3,220 | €3,318 | +€98 | +3.0% |
| Non-recurring operating charges | 66A | €132 | €1,026 | +€894 | +678% |
| Gross operating margin | 9900 | €158,910 | €177,622 | +€18,712 | +11.8% |
| Operating profit (loss) | 9901 | €17,370 | €41,829 | +€24,459 | +141% |
| Financial income | 75/76B | €3,566 | €2,884 | -€683 | -19.1% |
| Recurring financial income | 75 | €3,566 | €2,884 | -€683 | -19.1% |
| Financial charges | 65/66B | €967 | €830 | -€137 | -14.2% |
| Recurring financial charges | 65 | €967 | €830 | -€137 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €19,969 | €43,883 | +€23,914 | +120% |
| Income taxes | 67/77 | €8,300 | €13,558 | +€5,257 | +63.3% |
| Profit (loss) for the period | 9904 | €11,669 | €30,326 | +€18,657 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €11,669 | €30,326 | +€18,657 | +160% |
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 24 October 2026 via checked.be.