P & PLC: what changed
P & PLC
Largest movements
- Cash -€122,349
down €122,349 (-67.6%), from €181,111 to €58,762
mainly Other debts (-€101,452) and Tax, wage and social debts (-€59,784)
- Receivables within one year -€36,014
down €36,014 (-27.4%), from €131,383 to €95,369
of which Trade receivables: -€39,892
- Tangible fixed assets -€11,818
down €11,818 (-47.9%), from €24,675 to €12,856
of which Furniture and vehicles: -€13,390
- Other debts -€101,452
down €101,452 (-83.5%), from €121,452 to €20,000
- Tax, wage and social debts -€59,784
down €59,784 (-95.5%), from €62,625 to €2,841
of which Taxes: -€54,360
- Trade debts -€32,707
down €32,707 (-80.0%), from €40,869 to €8,162
- Profit (loss) carried forward +€30,555
up €30,555 (+36.7%), from €83,347 to €113,901
- Current portion of long-term debt -€5,617
down €5,617 (-75.8%), from €7,409 to €1,792
- Turnover +€358,219
new in 2025: €358,219
- Purchases and services +€265,189
new in 2025: €265,189
- Gross operating margin -€194,037
down €194,037 (-67.6%), from €287,067 to €93,030
- Staff costs -€53,820
down €53,820 (-60.0%), from €89,628 to €35,807
- Taxes -€34,994
down €34,994 (-77.0%), from €45,475 to €10,481
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €337,953 | €167,156 | -€170,797 | -50.5% |
| Fixed assets | 21/28 | €24,675 | €12,856 | -€11,818 | -47.9% |
| Tangible fixed assets | 22/27 | €24,675 | €12,856 | -€11,818 | -47.9% |
| Plant, machinery and equipment | 23 | - | €1,572 | +€1,572 | |
| Furniture and vehicles | 24 | €24,675 | €11,285 | -€13,390 | -54.3% |
| Current assets | 29/58 | €313,278 | €154,299 | -€158,979 | -50.7% |
| Amounts receivable within one year | 40/41 | €131,383 | €95,369 | -€36,014 | -27.4% |
| Trade receivables | 40 | €128,460 | €88,568 | -€39,892 | -31.1% |
| Other amounts receivable | 41 | €2,923 | €6,802 | +€3,878 | +133% |
| Cash at bank and in hand | 54/58 | €181,111 | €58,762 | -€122,349 | -67.6% |
| Deferred charges and accrued income | 490/1 | €784 | €168 | -€615 | -78.5% |
| Total equity and liabilities | 10/49 | €337,953 | €167,156 | -€170,797 | -50.5% |
| Equity | 10/15 | €103,807 | €134,361 | +€30,555 | +29.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,347 | €113,901 | +€30,555 | +36.7% |
| Amounts payable | 17/49 | €234,146 | €32,794 | -€201,352 | -86.0% |
| Amounts payable after more than one year | 17 | €1,792 | - | -€1,792 | |
| Financial debts | 170/4 | €1,792 | - | -€1,792 | |
| Amounts payable within one year | 42/48 | €232,354 | €32,794 | -€199,560 | -85.9% |
| Current portion of amounts payable after more than one year | 42 | €7,409 | €1,792 | -€5,617 | -75.8% |
| Trade debts | 44 | €40,869 | €8,162 | -€32,707 | -80.0% |
| Suppliers | 440/4 | €40,869 | €8,162 | -€32,707 | -80.0% |
| Taxes, remuneration and social security | 45 | €62,625 | €2,841 | -€59,784 | -95.5% |
| Taxes | 450/3 | €54,360 | - | -€54,360 | |
| Remuneration and social security | 454/9 | €8,265 | €2,841 | -€5,424 | -65.6% |
| Other amounts payable | 47/48 | €121,452 | €20,000 | -€101,452 | -83.5% |
| Turnover | 70 | - | €358,219 | +€358,219 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €265,189 | +€265,189 | |
| Remuneration, social security and pensions | 62 | €89,628 | €35,807 | -€53,820 | -60.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,239 | €14,395 | -€2,844 | -16.5% |
| Other operating charges | 640/8 | €850 | €579 | -€271 | -31.9% |
| Non-recurring operating charges | 66A | - | €947 | +€947 | |
| Gross operating margin | 9900 | €287,067 | €93,030 | -€194,037 | -67.6% |
| Operating profit (loss) | 9901 | €179,350 | €41,301 | -€138,049 | -77.0% |
| Financial income | 75/76B | €41 | €191 | +€150 | +369% |
| Recurring financial income | 75 | €41 | €191 | +€150 | +369% |
| Financial charges | 65/66B | €865 | €457 | -€408 | -47.2% |
| Recurring financial charges | 65 | €865 | €457 | -€408 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | €178,526 | €41,036 | -€137,491 | -77.0% |
| Income taxes | 67/77 | €45,475 | €10,481 | -€34,994 | -77.0% |
| Profit (loss) for the period | 9904 | €133,051 | €30,555 | -€102,496 | -77.0% |
| Profit (loss) for the period to be appropriated | 9905 | €133,051 | €30,555 | -€102,496 | -77.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.