P.V.O.: 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.V.O.
Largest movements
- Cash +€19,863
up €19,863 (+20.7%), from €96,168 to €116,030
mainly Net result for the year (+€27,324) and Deferred charges and accrued income (+€393)
- Receivables within one year +€3,472
up €3,472 (+48.8%), from €7,109 to €10,582
of which Trade receivables: +€3,472
- Reserves +€27,324
up €27,324 (+29.5%), from €92,655 to €119,979
- Tax, wage and social debts -€4,210
down €4,210 (-95.7%), from €4,402 to €191
- Gross operating margin -€8,153
down €8,153 (-19.0%), from €42,987 to €34,834
- Taxes -€1,707
down €1,707 (-20.0%), from €8,538 to €6,831
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €103,670 | €126,612 | +€22,942 | +22.1% |
| Current assets | 29/58 | €103,670 | €126,612 | +€22,942 | +22.1% |
| Amounts receivable within one year | 40/41 | €7,109 | €10,582 | +€3,472 | +48.8% |
| Trade receivables | 40 | €7,109 | €10,582 | +€3,472 | +48.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €96,168 | €116,030 | +€19,863 | +20.7% |
| Deferred charges and accrued income | 490/1 | €393 | €0 | -€393 | -100% |
| Total equity and liabilities | 10/49 | €103,670 | €126,612 | +€22,942 | +22.1% |
| Equity | 10/15 | €97,655 | €124,979 | +€27,324 | +28.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €92,655 | €119,979 | +€27,324 | +29.5% |
| Distributable reserves | 133 | €92,655 | €119,979 | +€27,324 | +29.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €6,015 | €1,633 | -€4,382 | -72.9% |
| Amounts payable within one year | 42/48 | €6,015 | €1,633 | -€4,382 | -72.9% |
| Taxes, remuneration and social security | 45 | €4,402 | €191 | -€4,210 | -95.7% |
| Taxes | 450/3 | €4,402 | €191 | -€4,210 | -95.7% |
| Other amounts payable | 47/48 | €1,613 | €1,442 | -€172 | -10.6% |
| Other operating charges | 640/8 | €204 | €610 | +€405 | +198% |
| Gross operating margin | 9900 | €42,987 | €34,834 | -€8,153 | -19.0% |
| Operating profit (loss) | 9901 | €42,783 | €34,225 | -€8,558 | -20.0% |
| Financial charges | 65/66B | €94 | €70 | -€24 | -25.2% |
| Recurring financial charges | 65 | €94 | €70 | -€24 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €42,690 | €34,155 | -€8,535 | -20.0% |
| Income taxes | 67/77 | €8,538 | €6,831 | -€1,707 | -20.0% |
| Profit (loss) for the period | 9904 | €34,152 | €27,324 | -€6,828 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,152 | €27,324 | -€6,828 | -20.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.