P.M.B.: 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.
What changed
P.M.B.
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€41,058
2024 · €628,109-€587,051
Equity
€15.2m
2024 · €15.2m+€41,058
Cash
€109,037
2024 · €278,297-€169,260
Balance sheet total
€25.4m
2024 · €23.5m+€1.9m
Largest movements
Assets
- Financial fixed assets +€2.6m
up €2.6m (+60.4%), from €4.2m to €6.8m
- Current investments -€1.7m
down €1.7m (-20.6%), from €8.3m to €6.6m
- Receivables after one year +€484,963
up €484,963 (+88.2%), from €550,000 to €1.0m
- Receivables within one year +€429,893
up €429,893 (+15.4%), from €2.8m to €3.2m
of which Other amounts receivable: +€996,590
- Stocks and contracts +€354,649
up €354,649 (+18.1%), from €2.0m to €2.3m
Equity and liabilities
- Short-term financial debts +€1.6m
up €1.6m (+35.1%), from €4.4m to €6.0m
- Other debts -€552,926
down €552,926 (-66.2%), from €835,554 to €282,628
- Trade debts +€432,801
up €432,801 (+97.4%), from €444,133 to €876,934
- Debts after one year +€319,611
up €319,611 (+14.9%), from €2.1m to €2.5m
Income statement
- Financial income -€403,130
down €403,130 (-26.0%), from €1.6m to €1.1m
of which Non-recurring financial income: -€622,720
- Staff costs +€147,674
up €147,674 (+62.4%), from €236,475 to €384,148
- Taxes -€108,358
down €108,358 (-96.2%), from €112,678 to €4,320
- Gross operating margin -€93,366
down €93,366 (-45.3%), from €206,325 to €112,958
- Financial charges +€31,368
up €31,368 (+8.4%), from €371,643 to €403,011
of which Financial charges: +€41,298
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.
Result 2024
€628,109
Gross operating margin
-€93,366
Staff costs
-€147,674
Depreciation
-€16,427
Other operating charges
+€12,584
Other operating items
-€16,029
Financial income
-€403,130
Financial charges
-€31,368
Taxes
+€108,358
Result 2025
€41,058
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.0m
Investment
-€1.1m
Financing
+€2.0m
Cash 2024
€278,297
From operations (derived)
-€1.0m
Net result for the year
+€41,058
Depreciation
+€315,901
Receivables after one year
-€484,963
Stocks and contracts
-€354,649
Receivables within one year
-€429,893
Deferred charges and accrued income
-€18,851
Trade debts
+€432,801
Tax, wage and social debts
+€18,762
Other debts
-€552,926
Accrued charges and deferred income
+€1,231
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€2.8m
Current investments
+€1.7m
Financing
+€2.0m
Debts after one year
+€319,611
Current portion of long-term debt
+€92,439
Short-term financial debts
+€1.6m
Cash 2025
€109,037
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,466,252 | €25,370,682 | +€1.9m | +8.1% |
| Fixed assets | 21/28 | €9,484,414 | €11,973,922 | +€2.5m | +26.2% |
| Intangible fixed assets | 21 | €3,242 | €6,723 | +€3,481 | +107% |
| Tangible fixed assets | 22/27 | €5,251,581 | €5,181,201 | -€70,379 | -1.3% |
| Land and buildings | 22 | €3,844,321 | €3,818,447 | -€25,874 | -0.7% |
| Plant, machinery and equipment | 23 | €971,355 | €724,117 | -€247,238 | -25.5% |
| Furniture and vehicles | 24 | €110,732 | €60,626 | -€50,105 | -45.2% |
| Leasing and similar rights | 25 | €280,482 | €232,630 | -€47,852 | -17.1% |
| Other tangible fixed assets | 26 | €44,691 | €345,382 | +€300,690 | +673% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €4,229,591 | €6,785,998 | +€2.6m | +60.4% |
| Current assets | 29/58 | €13,981,839 | €13,396,760 | -€585,079 | -4.2% |
| Amounts receivable after more than one year | 29 | €550,000 | €1,034,963 | +€484,963 | +88.2% |
| Other amounts receivable | 291 | €550,000 | €1,034,963 | +€484,963 | +88.2% |
| Stocks and contracts in progress | 3 | €1,960,496 | €2,315,145 | +€354,649 | +18.1% |
| Stocks | 30/36 | €1,960,496 | €2,315,145 | +€354,649 | +18.1% |
| Amounts receivable within one year | 40/41 | €2,783,238 | €3,213,131 | +€429,893 | +15.4% |
| Trade receivables | 40 | €1,938,818 | €1,372,121 | -€566,697 | -29.2% |
| Other amounts receivable | 41 | €844,420 | €1,841,010 | +€996,590 | +118% |
| Current investments | 50/53 | €8,254,462 | €6,550,288 | -€1.7m | -20.6% |
| Cash at bank and in hand | 54/58 | €278,297 | €109,037 | -€169,260 | -60.8% |
| Deferred charges and accrued income | 490/1 | €155,346 | €174,196 | +€18,851 | +12.1% |
| Total equity and liabilities | 10/49 | €23,466,252 | €25,370,682 | +€1.9m | +8.1% |
| Equity | 10/15 | €15,206,412 | €15,247,470 | +€41,058 | +0.3% |
| Contributions | 10/11 | €696,972 | €696,972 | = | 0.0% |
| Capital | 10 | €696,596 | €696,596 | = | 0.0% |
| Issued capital | 100 | €696,596 | €696,596 | = | 0.0% |
| Contributions outside capital | 11 | €377 | €377 | = | 0.0% |
| Share premium | 1100/10 | €377 | €377 | = | 0.0% |
| Reserves | 13 | €1,211,291 | €1,252,349 | +€41,058 | +3.4% |
| Non-distributable reserves | 130/1 | €69,660 | €69,660 | = | 0.0% |
| Legal reserve | 130 | €69,660 | €69,660 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,694 | €2,694 | = | 0.0% |
| Distributable reserves | 133 | €1,138,938 | €1,179,995 | +€41,058 | +3.6% |
| Profit (loss) carried forward | 14 | €13,298,149 | €13,298,149 | = | 0.0% |
| Amounts payable | 17/49 | €8,259,840 | €10,123,213 | +€1.9m | +22.6% |
| Amounts payable after more than one year | 17 | €2,138,215 | €2,457,826 | +€319,611 | +14.9% |
| Financial debts | 170/4 | €2,138,215 | €2,457,826 | +€319,611 | +14.9% |
| Amounts payable within one year | 42/48 | €6,106,257 | €7,648,786 | +€1.5m | +25.3% |
| Current portion of amounts payable after more than one year | 42 | €286,907 | €379,346 | +€92,439 | +32.2% |
| Financial debts | 43 | €4,426,000 | €5,977,454 | +€1.6m | +35.1% |
| Credit institutions | 430/8 | €4,426,000 | €5,977,454 | +€1.6m | +35.1% |
| Trade debts | 44 | €444,133 | €876,934 | +€432,801 | +97.4% |
| Suppliers | 440/4 | €444,133 | €876,934 | +€432,801 | +97.4% |
| Taxes, remuneration and social security | 45 | €113,662 | €132,424 | +€18,762 | +16.5% |
| Taxes | 450/3 | €88,238 | €106,379 | +€18,140 | +20.6% |
| Remuneration and social security | 454/9 | €25,424 | €26,045 | +€622 | +2.4% |
| Other amounts payable | 47/48 | €835,554 | €282,628 | -€552,926 | -66.2% |
| Accrued charges and deferred income | 492/3 | €15,369 | €16,600 | +€1,231 | +8.0% |
| Non-recurring operating income | 76A | €6,414 | €32,481 | +€26,067 | +406% |
| Remuneration, social security and pensions | 62 | €236,475 | €384,148 | +€147,674 | +62.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €299,474 | €315,901 | +€16,427 | +5.5% |
| Other operating charges | 640/8 | €110,581 | €97,997 | -€12,584 | -11.4% |
| Non-recurring operating charges | 66A | €0 | €16,029 | +€16,029 | |
| Gross operating margin | 9900 | €206,325 | €112,958 | -€93,366 | -45.3% |
| Operating profit (loss) | 9901 | -€440,205 | -€701,117 | -€260,912 | -59.3% |
| Financial income | 75/76B | €1,552,635 | €1,149,505 | -€403,130 | -26.0% |
| Recurring financial income | 75 | €385,968 | €605,559 | +€219,591 | +56.9% |
| Non-recurring financial income | 76B | €1,166,667 | €543,946 | -€622,720 | -53.4% |
| Financial charges | 65/66B | €371,643 | €403,011 | +€31,368 | +8.4% |
| Recurring financial charges | 65 | €361,713 | €403,011 | +€41,298 | +11.4% |
| Non-recurring financial charges | 66B | €9,930 | €0 | -€9,930 | -100% |
| Profit (loss) for the period before taxes | 9903 | €740,787 | €45,378 | -€695,409 | -93.9% |
| Income taxes | 67/77 | €112,678 | €4,320 | -€108,358 | -96.2% |
| Profit (loss) for the period | 9904 | €628,109 | €41,058 | -€587,051 | -93.5% |
| Profit (loss) for the period to be appropriated | 9905 | €628,109 | €41,058 | -€587,051 | -93.5% |
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 25 October 2026 via checked.be.