P.N.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.N.T.
Largest movements
- Cash -€49,439
down €49,439 (-60.7%), from €81,400 to €31,961
mainly Other debts (-€532,500) and Current portion of long-term debt (-€76,849)
- Receivables after one year -€42,440
down €42,440 (-37.7%), from €112,440 to €70,000
- Other debts -€532,500
down €532,500 (-72.7%), from €732,500 to €200,000
- Profit (loss) carried forward +€530,124
up €530,124 (+47.8%), from €1.1m to €1.6m
- Current portion of long-term debt -€76,849
down €76,849 (-66.2%), from €116,102 to €39,253
- Debts after one year -€39,074
down €39,074 (-100%), from €39,074 to €0
- Short-term financial debts -€32,884
down €32,884 (-100%), from €32,884 to €0
- Gross operating margin +€99,360
up €99,360 (+21.6%), from €460,074 to €559,434
- Staff costs +€47,641
up €47,641 (+9.8%), from €487,123 to €534,764
- Taxes +€11,786
up €11,786 (+2,092%), from €563 to €12,349
- Financial income -€10,430
down €10,430 (-1.9%), from €553,125 to €542,695
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 | €2,476,415 | €2,342,554 | -€133,861 | -5.4% |
| Fixed assets | 21/28 | €1,190,292 | €1,175,973 | -€14,318 | -1.2% |
| Tangible fixed assets | 22/27 | €118,000 | €103,682 | -€14,318 | -12.1% |
| Land and buildings | 22 | €118,000 | €103,682 | -€14,318 | -12.1% |
| Financial fixed assets | 28 | €1,072,292 | €1,072,292 | = | 0.0% |
| Current assets | 29/58 | €1,286,123 | €1,166,581 | -€119,542 | -9.3% |
| Amounts receivable after more than one year | 29 | €112,440 | €70,000 | -€42,440 | -37.7% |
| Other amounts receivable | 291 | €112,440 | €70,000 | -€42,440 | -37.7% |
| Amounts receivable within one year | 40/41 | €1,079,771 | €1,055,328 | -€24,443 | -2.3% |
| Trade receivables | 40 | €79,539 | €90,659 | +€11,120 | +14.0% |
| Other amounts receivable | 41 | €1,000,232 | €964,669 | -€35,563 | -3.6% |
| Cash at bank and in hand | 54/58 | €81,400 | €31,961 | -€49,439 | -60.7% |
| Deferred charges and accrued income | 490/1 | €12,511 | €9,292 | -€3,220 | -25.7% |
| Total equity and liabilities | 10/49 | €2,476,415 | €2,342,554 | -€133,861 | -5.4% |
| Equity | 10/15 | €1,408,619 | €1,938,743 | +€530,124 | +37.6% |
| Contributions | 10/11 | €269,408 | €269,408 | = | 0.0% |
| Capital | 10 | €269,408 | €269,408 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Uncalled capital | 101 | €30,592 | €30,592 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,109,211 | €1,639,335 | +€530,124 | +47.8% |
| Amounts payable | 17/49 | €1,067,796 | €403,811 | -€663,984 | -62.2% |
| Amounts payable after more than one year | 17 | €39,074 | €0 | -€39,074 | -100% |
| Financial debts | 170/4 | €39,074 | €0 | -€39,074 | -100% |
| Amounts payable within one year | 42/48 | €1,028,721 | €403,811 | -€624,910 | -60.7% |
| Current portion of amounts payable after more than one year | 42 | €116,102 | €39,253 | -€76,849 | -66.2% |
| Financial debts | 43 | €32,884 | €0 | -€32,884 | -100% |
| Credit institutions | 430/8 | €32,884 | €0 | -€32,884 | -100% |
| Trade debts | 44 | €65,911 | €70,649 | +€4,738 | +7.2% |
| Suppliers | 440/4 | €65,911 | €70,649 | +€4,738 | +7.2% |
| Taxes, remuneration and social security | 45 | €81,325 | €93,909 | +€12,585 | +15.5% |
| Taxes | 450/3 | €23,731 | €31,570 | +€7,839 | +33.0% |
| Remuneration and social security | 454/9 | €57,593 | €62,339 | +€4,746 | +8.2% |
| Other amounts payable | 47/48 | €732,500 | €200,000 | -€532,500 | -72.7% |
| Remuneration, social security and pensions | 62 | €487,123 | €534,764 | +€47,641 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,318 | €14,318 | = | 0.0% |
| Other operating charges | 640/8 | €4,685 | €5,995 | +€1,310 | +28.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €460,074 | €559,434 | +€99,360 | +21.6% |
| Operating profit (loss) | 9901 | -€46,053 | €4,357 | +€50,409 | |
| Financial income | 75/76B | €553,125 | €542,695 | -€10,430 | -1.9% |
| Recurring financial income | 75 | €553,125 | €542,695 | -€10,430 | -1.9% |
| Financial charges | 65/66B | €4,765 | €4,579 | -€186 | -3.9% |
| Recurring financial charges | 65 | €4,765 | €4,579 | -€186 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €502,308 | €542,473 | +€40,165 | +8.0% |
| Income taxes | 67/77 | €563 | €12,349 | +€11,786 | +2,092% |
| Profit (loss) for the period | 9904 | €501,745 | €530,124 | +€28,379 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €501,745 | €530,124 | +€28,379 | +5.7% |
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 20 October 2026 via checked.be.