P&P: what changed
Two fiscal 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&P
Largest movements
- Receivables within one year +€99,511
up €99,511 (+1735.2%), from €5,735 to €105,246
of which Trade receivables: +€99,219
- Tangible fixed assets -€41,141
down €41,141 (-3.5%), from €1.2m to €1.2m
of which Leasing and similar rights: -€34,891
- Advances received +€108,935
new in 2025: €108,935
- Debts after one year -€48,399
down €48,399 (-4.7%), from €1.0m to €970,534
- Profit (loss) carried forward +€23,564
up €23,564 (+26.6%), from -€88,576 to -€65,013
- Current portion of long-term debt -€16,304
down €16,304 (-25.1%), from €65,083 to €48,779
- Financial charges +€4,218
up €4,218 (+13.7%), from €30,872 to €35,090
- Gross operating margin -€3,509
down €3,509 (-3.3%), from €106,819 to €103,310
- Financial income +€3,432
new in 2025: €3,432
- Other operating charges +€2,359
up €2,359 (+51.4%), from €4,588 to €6,947
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,240,085 | €1,298,455 | +€58,370 | +4.7% |
| Fixed assets | 21/28 | €1,192,342 | €1,151,201 | -€41,141 | -3.5% |
| Tangible fixed assets | 22/27 | €1,192,342 | €1,151,201 | -€41,141 | -3.5% |
| Land and buildings | 22 | €410,000 | €410,000 | = | 0.0% |
| Furniture and vehicles | 24 | €25,427 | €19,177 | -€6,250 | -24.6% |
| Leasing and similar rights | 25 | €756,915 | €722,024 | -€34,891 | -4.6% |
| Current assets | 29/58 | €47,743 | €147,254 | +€99,511 | +208.4% |
| Amounts receivable within one year | 40/41 | €5,735 | €105,246 | +€99,511 | +1735.2% |
| Trade receivables | 40 | €5,735 | €104,954 | +€99,219 | +1730.1% |
| Other amounts receivable | 41 | - | €293 | +€293 | |
| Deferred charges and accrued income | 490/1 | €42,008 | €42,008 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,240,085 | €1,298,455 | +€58,370 | +4.7% |
| Equity | 10/15 | €25,024 | €48,587 | +€23,564 | +94.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €95,000 | €95,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€88,576 | -€65,013 | +€23,564 | +26.6% |
| Amounts payable | 17/49 | €1,215,061 | €1,249,867 | +€34,806 | +2.9% |
| Amounts payable after more than one year | 17 | €1,018,933 | €970,534 | -€48,399 | -4.7% |
| Financial debts | 170/4 | €1,018,933 | €970,534 | -€48,399 | -4.7% |
| Amounts payable within one year | 42/48 | €192,165 | €276,989 | +€84,824 | +44.1% |
| Current portion of amounts payable after more than one year | 42 | €65,083 | €48,779 | -€16,304 | -25.1% |
| Financial debts | 43 | €4,013 | €4,112 | +€99 | +2.5% |
| Credit institutions | 430/8 | €4,013 | €4,112 | +€99 | +2.5% |
| Trade debts | 44 | €50,433 | €51,113 | +€680 | +1.3% |
| Suppliers | 440/4 | €50,433 | €51,113 | +€680 | +1.3% |
| Advances received on contracts in progress | 46 | - | €108,935 | +€108,935 | |
| Taxes, remuneration and social security | 45 | €11,290 | €8,605 | -€2,685 | -23.8% |
| Taxes | 450/3 | €11,290 | €8,605 | -€2,685 | -23.8% |
| Other amounts payable | 47/48 | €61,346 | €55,445 | -€5,901 | -9.6% |
| Accrued charges and deferred income | 492/3 | €3,964 | €2,345 | -€1,619 | -40.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,714 | €41,141 | +€427 | +1.0% |
| Other operating charges | 640/8 | €4,588 | €6,947 | +€2,359 | +51.4% |
| Gross operating margin | 9900 | €106,819 | €103,310 | -€3,509 | -3.3% |
| Operating profit (loss) | 9901 | €61,517 | €55,222 | -€6,295 | -10.2% |
| Financial income | 75/76B | - | €3,432 | +€3,432 | |
| Recurring financial income | 75 | - | €3,432 | +€3,432 | |
| Financial charges | 65/66B | €30,872 | €35,090 | +€4,218 | +13.7% |
| Recurring financial charges | 65 | €30,872 | €35,090 | +€4,218 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €30,645 | €23,564 | -€7,081 | -23.1% |
| Profit (loss) for the period | 9904 | €30,645 | €23,564 | -€7,081 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,645 | €23,564 | -€7,081 | -23.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.