P³LAB: 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.
P³LAB
Largest movements
- Current investments -€1.9m
down €1.9m (-100.0%), from €1.9m to €0
- Cash -€797,855
down €797,855 (-86.3%), from €924,788 to €126,933
mainly Net result for the year (-€2.0m) and Investment in fixed assets (net) (-€1.9m)
- Intangible fixed assets +€521,187
up €521,187 (+13.7%), from €3.8m to €4.3m
- Receivables after one year +€234,485
new in 2025: €234,485
- Financial fixed assets +€184,533
up €184,533 (+690.8%), from €26,713 to €211,246
- Profit (loss) carried forward -€2.0m
down €2.0m (-70.0%), from -€2.8m to -€4.8m
- Trade debts +€1.0m
up €1.0m (+130.0%), from €795,078 to €1.8m
- Investment grants -€392,720
down €392,720 (-32.0%), from €1.2m to €834,523
- Accrued charges and deferred income -€284,290
down €284,290 (-34.4%), from €826,994 to €542,704
- Depreciation +€338,065
up €338,065 (+42.0%), from €805,147 to €1.1m
- Financial income +€280,059
up €280,059 (+157.7%), from €177,594 to €457,653
- Other operating charges -€275,674
down €275,674 (-99.5%), from €276,952 to €1,278
- Gross operating margin -€144,629
down €144,629 (-359.4%), from -€40,246 to -€184,875
- Financial charges +€94,845
up €94,845 (+63.9%), from €148,531 to €243,375
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 | €7,997,332 | €6,375,947 | -€1.6m | -20.3% |
| Formation expenses | 20 | €42,051 | €31,331 | -€10,720 | -25.5% |
| Fixed assets | 21/28 | €3,858,540 | €4,583,593 | +€725,052 | +18.8% |
| Intangible fixed assets | 21 | €3,796,583 | €4,317,770 | +€521,187 | +13.7% |
| Tangible fixed assets | 22/27 | €35,245 | €54,577 | +€19,332 | +54.9% |
| Plant, machinery and equipment | 23 | €13,905 | €12,193 | -€1,711 | -12.3% |
| Furniture and vehicles | 24 | €20,546 | €41,695 | +€21,149 | +102.9% |
| Other tangible fixed assets | 26 | €794 | €689 | -€105 | -13.3% |
| Financial fixed assets | 28 | €26,713 | €211,246 | +€184,533 | +690.8% |
| Current assets | 29/58 | €4,096,741 | €1,761,023 | -€2.3m | -57.0% |
| Amounts receivable after more than one year | 29 | - | €234,485 | +€234,485 | |
| Other amounts receivable | 291 | - | €234,485 | +€234,485 | |
| Stocks and contracts in progress | 3 | €171,734 | €107,934 | -€63,800 | -37.2% |
| Stocks | 30/36 | €171,734 | €107,934 | -€63,800 | -37.2% |
| Amounts receivable within one year | 40/41 | €1,089,617 | €1,244,904 | +€155,287 | +14.3% |
| Trade receivables | 40 | €26,900 | €122,764 | +€95,863 | +356.4% |
| Other amounts receivable | 41 | €1,062,717 | €1,122,141 | +€59,424 | +5.6% |
| Current investments | 50/53 | €1,875,000 | €0 | -€1.9m | -100.0% |
| Cash at bank and in hand | 54/58 | €924,788 | €126,933 | -€797,855 | -86.3% |
| Deferred charges and accrued income | 490/1 | €35,602 | €46,767 | +€11,166 | +31.4% |
| Total equity and liabilities | 10/49 | €7,997,332 | €6,375,947 | -€1.6m | -20.3% |
| Equity | 10/15 | €3,348,342 | €978,554 | -€2.4m | -70.8% |
| Contributions | 10/11 | €4,946,941 | €4,946,941 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,825,842 | -€4,802,910 | -€2.0m | -70.0% |
| Investment grants | 15 | €1,227,243 | €834,523 | -€392,720 | -32.0% |
| Amounts payable | 17/49 | €4,648,990 | €5,397,393 | +€748,403 | +16.1% |
| Amounts payable after more than one year | 17 | €392,799 | €319,094 | -€73,704 | -18.8% |
| Financial debts | 170/4 | €148,438 | €92,188 | -€56,250 | -37.9% |
| Other amounts payable | 178/9 | €244,361 | €226,907 | -€17,454 | -7.1% |
| Amounts payable within one year | 42/48 | €3,429,197 | €4,535,594 | +€1.1m | +32.3% |
| Current portion of amounts payable after more than one year | 42 | €2,548,517 | €2,562,846 | +€14,329 | +0.6% |
| Trade debts | 44 | €795,078 | €1,828,475 | +€1.0m | +130.0% |
| Suppliers | 440/4 | €795,078 | €1,828,475 | +€1.0m | +130.0% |
| Advances received on contracts in progress | 46 | €15,000 | €15,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €69,798 | €128,853 | +€59,055 | +84.6% |
| Taxes | 450/3 | €87 | €285 | +€198 | +226.2% |
| Remuneration and social security | 454/9 | €69,710 | €128,568 | +€58,857 | +84.4% |
| Other amounts payable | 47/48 | €805 | €420 | -€385 | -47.8% |
| Accrued charges and deferred income | 492/3 | €826,994 | €542,704 | -€284,290 | -34.4% |
| Remuneration, social security and pensions | 62 | €955,578 | €918,893 | -€36,684 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €805,147 | €1,143,212 | +€338,065 | +42.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,421 | +€2,421 | |
| Other operating charges | 640/8 | €276,952 | €1,278 | -€275,674 | -99.5% |
| Gross operating margin | 9900 | -€40,246 | -€184,875 | -€144,629 | -359.4% |
| Operating profit (loss) | 9901 | -€2,077,923 | -€2,250,680 | -€172,757 | -8.3% |
| Financial income | 75/76B | €177,594 | €457,653 | +€280,059 | +157.7% |
| Recurring financial income | 75 | €177,594 | €457,653 | +€280,059 | +157.7% |
| Financial charges | 65/66B | €148,531 | €243,375 | +€94,845 | +63.9% |
| Recurring financial charges | 65 | €148,531 | €243,375 | +€94,845 | +63.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,048,859 | -€2,036,403 | +€12,457 | +0.6% |
| Income taxes | 67/77 | -€68,125 | -€59,334 | +€8,790 | +12.9% |
| Profit (loss) for the period | 9904 | -€1,980,735 | -€1,977,068 | +€3,666 | +0.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,980,735 | -€1,977,068 | +€3,666 | +0.2% |
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 10 October 2026 via checked.be.