P.S.B.: what changed
P.S.B.
Largest movements
- Cash -€9,473
down €9,473 (-64.7%), from €14,647 to €5,175
mainly Net result for the year (-€58,590) and Tax, wage and social debts (-€3,440)
- Stocks and contracts -€8,306
no longer reported in 2025 (was €8,306)
- Deferred charges and accrued income -€6,373
down €6,373 (-83.9%), from €7,597 to €1,224
- Receivables within one year -€5,260
down €5,260 (-25.5%), from €20,666 to €15,405
of which Trade receivables: -€6,796
- Tangible fixed assets -€773
no longer reported in 2025 (was €773)
- Profit (loss) carried forward -€58,590
down €58,590 (-297%), from -€19,757 to -€78,347
- Trade debts +€33,885
up €33,885 (+755%), from €4,485 to €38,370
- Tax, wage and social debts -€3,440
no longer reported in 2025 (was €3,440)
of which Remuneration and social security: -€2,642
- Current portion of long-term debt -€1,140
no longer reported in 2025 (was €1,140)
- Other debts -€900
down €900 (-97.1%), from €926 to €27
- Gross operating margin -€75,183
down €75,183, from €71,755 to -€3,428
- Staff costs -€24,306
down €24,306 (-32.8%), from €74,014 to €49,707
- Depreciation -€5,942
down €5,942 (-88.5%), from €6,715 to €773
- Other operating charges +€3,798
up €3,798 (+668%), from €568 to €4,366
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 | €51,989 | €21,804 | -€30,185 | -58.1% |
| Fixed assets | 21/28 | €773 | - | -€773 | |
| Tangible fixed assets | 22/27 | €773 | - | -€773 | |
| Furniture and vehicles | 24 | €773 | - | -€773 | |
| Current assets | 29/58 | €51,216 | €21,804 | -€29,412 | -57.4% |
| Stocks and contracts in progress | 3 | €8,306 | - | -€8,306 | |
| Stocks | 30/36 | €8,306 | - | -€8,306 | |
| Amounts receivable within one year | 40/41 | €20,666 | €15,405 | -€5,260 | -25.5% |
| Trade receivables | 40 | €10,627 | €3,830 | -€6,796 | -64.0% |
| Other amounts receivable | 41 | €10,039 | €11,575 | +€1,536 | +15.3% |
| Cash at bank and in hand | 54/58 | €14,647 | €5,175 | -€9,473 | -64.7% |
| Deferred charges and accrued income | 490/1 | €7,597 | €1,224 | -€6,373 | -83.9% |
| Total equity and liabilities | 10/49 | €51,989 | €21,804 | -€30,185 | -58.1% |
| Equity | 10/15 | €41,997 | -€16,593 | -€58,590 | |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €54,754 | €54,754 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €52,754 | €52,754 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,757 | -€78,347 | -€58,590 | -297% |
| Amounts payable | 17/49 | €9,991 | €38,397 | +€28,406 | +284% |
| Amounts payable within one year | 42/48 | €9,991 | €38,397 | +€28,406 | +284% |
| Current portion of amounts payable after more than one year | 42 | €1,140 | - | -€1,140 | |
| Trade debts | 44 | €4,485 | €38,370 | +€33,885 | +755% |
| Suppliers | 440/4 | €4,485 | €38,370 | +€33,885 | +755% |
| Taxes, remuneration and social security | 45 | €3,440 | - | -€3,440 | |
| Taxes | 450/3 | €798 | - | -€798 | |
| Remuneration and social security | 454/9 | €2,642 | - | -€2,642 | |
| Other amounts payable | 47/48 | €926 | €27 | -€900 | -97.1% |
| Remuneration, social security and pensions | 62 | €74,014 | €49,707 | -€24,306 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,715 | €773 | -€5,942 | -88.5% |
| Other operating charges | 640/8 | €568 | €4,366 | +€3,798 | +668% |
| Gross operating margin | 9900 | €71,755 | -€3,428 | -€75,183 | |
| Operating profit (loss) | 9901 | -€9,542 | -€58,274 | -€48,733 | -511% |
| Financial income | 75/76B | €9 | €285 | +€276 | +3,004% |
| Recurring financial income | 75 | €9 | €285 | +€276 | +3,004% |
| Financial charges | 65/66B | €142 | €601 | +€459 | +323% |
| Recurring financial charges | 65 | €142 | €601 | +€459 | +323% |
| Profit (loss) for the period before taxes | 9903 | -€9,675 | -€58,590 | -€48,916 | -506% |
| Profit (loss) for the period | 9904 | -€9,675 | -€58,590 | -€48,916 | -506% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,675 | -€58,590 | -€48,916 | -506% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.