P.S. MANAGEMENT: 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.
What changed
P.S. MANAGEMENT
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €675,330+€479,465
Equity
€7.1m
2024 · €6.3m+€754,795
Cash
€1.7m
2024 · €48,059+€1.7m
Balance sheet total
€13.3m
2024 · €8.9m+€4.4m
Largest movements
Assets
- Financial fixed assets +€4.2m
up €4.2m (+286%), from €1.5m to €5.6m
of which Affiliated companies: +€4.2m
- Cash +€1.7m
up €1.7m (+3,460%), from €48,059 to €1.7m
mainly Debts after one year (+€2.2m) and Net result for the year (+€1.2m)
- Receivables within one year -€847,376
down €847,376 (-37.7%), from €2.2m to €1.4m
of which Other amounts receivable: -€447,176
- Receivables after one year -€527,678
down €527,678 (-25.0%), from €2.1m to €1.6m
of which Trade receivables: -€2.1m
Equity and liabilities
- Debts after one year +€2.2m
up €2.2m (+332%), from €658,408 to €2.8m
- Other debts +€947,027
up €947,027 (+237%), from €400,000 to €1.3m
- Profit (loss) carried forward +€656,416
up €656,416 (+14.7%), from €4.5m to €5.1m
- Current portion of long-term debt +€442,034
up €442,034 (+69.4%), from €636,811 to €1.1m
Income statement
- Taxes -€335,052
down €335,052 (-56.7%), from €591,308 to €256,256
of which Taxes: -€356,672
- Turnover +€251,702
up €251,702 (+13.9%), from €1.8m to €2.1m
- Staff costs +€227,256
up €227,256 (+327%), from €69,500 to €296,756
- Financial income +€69,682
up €69,682 (+13.9%), from €502,921 to €572,603
- Other operating income +€30,205
up €30,205 (+25.5%), from €118,654 to €148,859
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.
Result 2024
€675,330
Turnover
+€251,702
Other operating income
+€30,205
Services and other goods
+€11,763
Staff costs
-€227,256
Depreciation
-€18,197
Other operating charges
+€21,425
Other operating items
-€3,565
Financial income
+€69,682
Financial charges
+€8,653
Taxes
+€335,052
Result 2025
€1.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.6m
Investment
-€4.3m
Financing
+€2.4m
Cash 2024
€48,059
From operations (derived)
+€3.6m
Net result for the year
+€1.2m
Depreciation
+€179,796
Receivables after one year
+€527,678
Receivables within one year
+€847,376
Smaller working-capital items
-€5,837
Trade debts
+€29,531
Tax, wage and social debts
-€12,290
Advances received
-€93,409
Other debts
+€947,027
Investment (derived)
-€4.3m
Investment in fixed assets (net)
-€4.3m
Financing
+€2.4m
Debts after one year
+€2.2m
Current portion of long-term debt
+€442,034
Short-term financial debts
+€124,844
Contributions, distributions and other
-€400,000
Cash 2025
€1.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,902,763 | €13,273,169 | +€4.4m | +49.1% |
| Fixed assets | 21/28 | €4,485,212 | €8,571,094 | +€4.1m | +91.1% |
| Tangible fixed assets | 22/27 | €3,028,965 | €2,950,921 | -€78,044 | -2.6% |
| Land and buildings | 22 | €2,747,962 | €2,635,899 | -€112,064 | -4.1% |
| Plant, machinery and equipment | 23 | €9,587 | €7,844 | -€1,743 | -18.2% |
| Furniture and vehicles | 24 | €271,416 | €307,179 | +€35,763 | +13.2% |
| Financial fixed assets | 28 | €1,456,247 | €5,620,172 | +€4.2m | +286% |
| Affiliated companies | 280/1 | €1,456,172 | €5,620,172 | +€4.2m | +286% |
| Participating interests | 280 | €1,456,172 | €5,620,172 | +€4.2m | +286% |
| Other financial fixed assets | 284/8 | €75 | €0 | -€75 | -100% |
| Amounts receivable and cash guarantees | 285/8 | €75 | €0 | -€75 | -100% |
| Current assets | 29/58 | €4,417,551 | €4,702,075 | +€284,525 | +6.4% |
| Amounts receivable after more than one year | 29 | €2,107,034 | €1,579,356 | -€527,678 | -25.0% |
| Trade receivables | 290 | €2,107,034 | - | -€2.1m | |
| Other amounts receivable | 291 | - | €1,579,356 | +€1.6m | |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,247,830 | €1,400,454 | -€847,376 | -37.7% |
| Trade receivables | 40 | €1,139,813 | €739,613 | -€400,200 | -35.1% |
| Other amounts receivable | 41 | €1,108,017 | €660,841 | -€447,176 | -40.4% |
| Cash at bank and in hand | 54/58 | €48,059 | €1,711,108 | +€1.7m | +3,460% |
| Deferred charges and accrued income | 490/1 | €14,628 | €11,158 | -€3,470 | -23.7% |
| Total equity and liabilities | 10/49 | €8,902,763 | €13,273,169 | +€4.4m | +49.1% |
| Equity | 10/15 | €6,317,610 | €7,072,404 | +€754,795 | +11.9% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €1,088,012 | €1,186,391 | +€98,379 | +9.0% |
| Non-distributable reserves | 130/1 | €75,000 | €75,000 | = | 0.0% |
| Legal reserve | 130 | €75,000 | €75,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,013,012 | €1,048,241 | +€35,229 | +3.5% |
| Distributable reserves | 133 | - | €63,150 | +€63,150 | |
| Profit (loss) carried forward | 14 | €4,479,597 | €5,136,013 | +€656,416 | +14.7% |
| Provisions and deferred taxes | 16 | €660,857 | €651,550 | -€9,307 | -1.4% |
| Provisions for liabilities and charges | 160/5 | €379,320 | €379,320 | = | 0.0% |
| Taxes | 161 | €379,320 | €379,320 | = | 0.0% |
| Deferred taxes | 168 | €281,537 | €272,230 | -€9,307 | -3.3% |
| Amounts payable | 17/49 | €1,924,296 | €5,549,214 | +€3.6m | +188% |
| Amounts payable after more than one year | 17 | €658,408 | €2,845,590 | +€2.2m | +332% |
| Financial debts | 170/4 | €658,408 | €2,845,590 | +€2.2m | +332% |
| Credit institutions | 173 | €658,408 | €133,590 | -€524,818 | -79.7% |
| Other loans | 174 | - | €2,712,000 | +€2.7m | |
| Amounts payable within one year | 42/48 | €1,265,888 | €2,703,625 | +€1.4m | +114% |
| Current portion of amounts payable after more than one year | 42 | €636,811 | €1,078,845 | +€442,034 | +69.4% |
| Financial debts | 43 | €88,090 | €212,934 | +€124,844 | +142% |
| Credit institutions | 430/8 | €88,090 | €212,934 | +€124,844 | +142% |
| Trade debts | 44 | €11,832 | €41,363 | +€29,531 | +250% |
| Suppliers | 440/4 | €11,832 | €41,363 | +€29,531 | +250% |
| Advances received on contracts in progress | 46 | €93,409 | €0 | -€93,409 | -100% |
| Taxes, remuneration and social security | 45 | €35,746 | €23,456 | -€12,290 | -34.4% |
| Taxes | 450/3 | €33,380 | €21,891 | -€11,489 | -34.4% |
| Remuneration and social security | 454/9 | €2,366 | €1,565 | -€801 | -33.9% |
| Other amounts payable | 47/48 | €400,000 | €1,347,027 | +€947,027 | +237% |
| Operating income | 70/76A | €1,941,786 | €2,220,129 | +€278,343 | +14.3% |
| Turnover | 70 | €1,812,168 | €2,063,870 | +€251,702 | +13.9% |
| Other operating income | 74 | €118,654 | €148,859 | +€30,205 | +25.5% |
| Non-recurring operating income | 76A | €10,964 | €7,399 | -€3,565 | -32.5% |
| Operating charges | 60/66A | €1,159,401 | €1,371,666 | +€212,266 | +18.3% |
| Services and other goods | 61 | €856,924 | €845,161 | -€11,763 | -1.4% |
| Remuneration, social security and pensions | 62 | €69,500 | €296,756 | +€227,256 | +327% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,599 | €179,796 | +€18,197 | +11.3% |
| Other operating charges | 640/8 | €71,379 | €49,954 | -€21,425 | -30.0% |
| Operating profit (loss) | 9901 | €782,385 | €848,462 | +€66,078 | +8.4% |
| Financial income | 75/76B | €502,921 | €572,603 | +€69,682 | +13.9% |
| Recurring financial income | 75 | €502,921 | €572,603 | +€69,682 | +13.9% |
| Income from financial fixed assets | 750 | €450,000 | €531,000 | +€81,000 | +18.0% |
| Income from current assets | 751 | €47,799 | €40,050 | -€7,750 | -16.2% |
| Other financial income | 752/9 | €5,122 | €1,553 | -€3,569 | -69.7% |
| Financial charges | 65/66B | €27,975 | €19,322 | -€8,653 | -30.9% |
| Recurring financial charges | 65 | €27,975 | €19,322 | -€8,653 | -30.9% |
| Debt charges | 650 | €26,432 | €18,679 | -€7,753 | -29.3% |
| Other financial charges | 652/9 | €1,542 | €642 | -€900 | -58.4% |
| Profit (loss) for the period before taxes | 9903 | €1,257,331 | €1,401,744 | +€144,412 | +11.5% |
| Transfer from deferred taxes | 780 | €9,307 | €9,307 | = | 0.0% |
| Income taxes | 67/77 | €591,308 | €256,256 | -€335,052 | -56.7% |
| Taxes | 670/3 | €616,876 | €260,204 | -€356,672 | -57.8% |
| Tax adjustments and reversals of tax provisions | 77 | €25,567 | €3,948 | -€21,620 | -84.6% |
| Profit (loss) for the period | 9904 | €675,330 | €1,154,795 | +€479,465 | +71.0% |
| Transfer from tax-exempt reserves | 789 | €27,921 | €91,071 | +€63,150 | +226% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €126,300 | +€21,050 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €598,001 | €1,119,566 | +€521,565 | +87.2% |
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 23 October 2026 via checked.be.