P.M.O.: 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.M.O.
Largest movements
- Receivables after one year +€1.0m
up €1.0m (+250%), from €400,000 to €1.4m
- Current investments -€900,000
down €900,000 (-100%), from €900,000 to €0
- Cash +€48,616
up €48,616 (+97.5%), from €49,857 to €98,473
mainly Current investments (+€900,000) and Net result for the year (+€144,555)
- Profit (loss) carried forward +€144,555
up €144,555 (+21.3%), from €679,911 to €824,466
- Financial income -€40,228
down €40,228 (-19.0%), from €211,615 to €171,387
- Other operating charges -€6,815
down €6,815 (-19.9%), from €34,257 to €27,442
- Gross operating margin +€4,062
up €4,062, from -€3,310 to €752
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 | €1,641,584 | €1,786,278 | +€144,694 | +8.8% |
| Fixed assets | 21/28 | €279,441 | €279,441 | = | 0.0% |
| Tangible fixed assets | 22/27 | €182,616 | €182,616 | = | 0.0% |
| Land and buildings | 22 | €182,616 | €182,616 | = | 0.0% |
| Financial fixed assets | 28 | €96,825 | €96,825 | = | 0.0% |
| Current assets | 29/58 | €1,362,143 | €1,506,837 | +€144,694 | +10.6% |
| Amounts receivable after more than one year | 29 | €400,000 | €1,400,000 | +€1.0m | +250% |
| Other amounts receivable | 291 | €400,000 | €1,400,000 | +€1.0m | +250% |
| Amounts receivable within one year | 40/41 | €12,287 | €8,364 | -€3,923 | -31.9% |
| Other amounts receivable | 41 | €12,287 | €8,364 | -€3,923 | -31.9% |
| Current investments | 50/53 | €900,000 | €0 | -€900,000 | -100% |
| Cash at bank and in hand | 54/58 | €49,857 | €98,473 | +€48,616 | +97.5% |
| Total equity and liabilities | 10/49 | €1,641,584 | €1,786,278 | +€144,694 | +8.8% |
| Equity | 10/15 | €1,625,911 | €1,770,466 | +€144,555 | +8.9% |
| Contributions | 10/11 | €860,000 | €860,000 | = | 0.0% |
| Capital | 10 | €860,000 | €860,000 | = | 0.0% |
| Issued capital | 100 | €860,000 | €860,000 | = | 0.0% |
| Reserves | 13 | €86,000 | €86,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €86,000 | €86,000 | = | 0.0% |
| Legal reserve | 130 | €86,000 | €86,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €679,911 | €824,466 | +€144,555 | +21.3% |
| Amounts payable | 17/49 | €15,673 | €15,811 | +€138 | +0.9% |
| Amounts payable within one year | 42/48 | €15,673 | €15,811 | +€138 | +0.9% |
| Trade debts | 44 | €15,673 | €15,811 | +€138 | +0.9% |
| Suppliers | 440/4 | €15,673 | €15,811 | +€138 | +0.9% |
| Other operating charges | 640/8 | €34,257 | €27,442 | -€6,815 | -19.9% |
| Gross operating margin | 9900 | -€3,310 | €752 | +€4,062 | |
| Operating profit (loss) | 9901 | -€37,566 | -€26,690 | +€10,877 | +29.0% |
| Financial income | 75/76B | €211,615 | €171,387 | -€40,228 | -19.0% |
| Recurring financial income | 75 | €211,615 | €171,387 | -€40,228 | -19.0% |
| Financial charges | 65/66B | €118 | €142 | +€25 | +20.8% |
| Recurring financial charges | 65 | €118 | €142 | +€25 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €173,931 | €144,555 | -€29,375 | -16.9% |
| Profit (loss) for the period | 9904 | €173,931 | €144,555 | -€29,375 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €173,931 | €144,555 | -€29,375 | -16.9% |
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.