P.V.S.: 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.S.
Largest movements
- Receivables within one year -€148,365
down €148,365 (-28.6%), from €518,049 to €369,684
of which Other amounts receivable: -€122,333
- Tangible fixed assets -€26,164
down €26,164 (-8.2%), from €319,609 to €293,445
of which Land and buildings: -€27,379
- Cash -€14,876
down €14,876 (-31.9%), from €46,685 to €31,809
mainly Contributions, distributions and other (-€404,115) and Trade debts (-€44,161)
- Reserves -€365,188
down €365,188 (-41.7%), from €876,170 to €510,982
of which Distributable reserves: -€365,188
- Other debts +€256,441
up €256,441 (+8,906%), from €2,879 to €259,320
- Trade debts -€44,161
down €44,161 (-87.8%), from €50,307 to €6,146
- Debts after one year -€29,347
down €29,347 (-17.1%), from €171,192 to €141,845
- Short-term financial debts -€18,829
down €18,829 (-100%), from €18,829 to €0
- Financial charges +€19,339
up €19,339 (+152%), from €12,707 to €32,046
- Gross operating margin +€17,862
up €17,862 (+15.6%), from €114,521 to €132,382
- Other operating charges +€3,976
up €3,976 (+93.2%), from €4,266 to €8,242
- Financial income -€3,401
down €3,401 (-32.5%), from €10,449 to €7,048
- Taxes -€2,341
down €2,341 (-13.0%), from €17,964 to €15,623
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,183,935 | €995,286 | -€188,650 | -15.9% |
| Fixed assets | 21/28 | €617,081 | €590,917 | -€26,164 | -4.2% |
| Tangible fixed assets | 22/27 | €319,609 | €293,445 | -€26,164 | -8.2% |
| Land and buildings | 22 | €315,426 | €288,047 | -€27,379 | -8.7% |
| Plant, machinery and equipment | 23 | €4,183 | €5,398 | +€1,215 | +29.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €297,472 | €297,472 | = | 0.0% |
| Current assets | 29/58 | €566,854 | €404,368 | -€162,486 | -28.7% |
| Amounts receivable within one year | 40/41 | €518,049 | €369,684 | -€148,365 | -28.6% |
| Trade receivables | 40 | €80,019 | €53,988 | -€26,031 | -32.5% |
| Other amounts receivable | 41 | €438,030 | €315,696 | -€122,333 | -27.9% |
| Current investments | 50/53 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €46,685 | €31,809 | -€14,876 | -31.9% |
| Deferred charges and accrued income | 490/1 | €1,870 | €2,625 | +€755 | +40.3% |
| Total equity and liabilities | 10/49 | €1,183,935 | €995,286 | -€188,650 | -15.9% |
| Equity | 10/15 | €890,389 | €525,201 | -€365,188 | -41.0% |
| Contributions | 10/11 | €12,605 | €12,605 | = | 0.0% |
| Reserves | 13 | €876,170 | €510,982 | -€365,188 | -41.7% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €873,670 | €508,482 | -€365,188 | -41.8% |
| Profit (loss) carried forward | 14 | €1,614 | €1,614 | +€0 | 0.0% |
| Amounts payable | 17/49 | €293,546 | €470,085 | +€176,538 | +60.1% |
| Amounts payable after more than one year | 17 | €171,192 | €141,845 | -€29,347 | -17.1% |
| Financial debts | 170/4 | €171,192 | €141,845 | -€29,347 | -17.1% |
| Amounts payable within one year | 42/48 | €122,354 | €312,012 | +€189,658 | +155% |
| Current portion of amounts payable after more than one year | 42 | €29,347 | €29,347 | = | 0.0% |
| Financial debts | 43 | €18,829 | €0 | -€18,829 | -100% |
| Credit institutions | 430/8 | €18,829 | €0 | -€18,829 | -100% |
| Trade debts | 44 | €50,307 | €6,146 | -€44,161 | -87.8% |
| Suppliers | 440/4 | €50,307 | €6,146 | -€44,161 | -87.8% |
| Taxes, remuneration and social security | 45 | €20,991 | €17,199 | -€3,791 | -18.1% |
| Taxes | 450/3 | €20,991 | €17,199 | -€3,791 | -18.1% |
| Other amounts payable | 47/48 | €2,879 | €259,320 | +€256,441 | +8,906% |
| Accrued charges and deferred income | 492/3 | €0 | €16,227 | +€16,227 | |
| Non-recurring operating income | 76A | €23,167 | €0 | -€23,167 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,374 | €44,593 | +€2,218 | +5.2% |
| Other operating charges | 640/8 | €4,266 | €8,242 | +€3,976 | +93.2% |
| Gross operating margin | 9900 | €114,521 | €132,382 | +€17,862 | +15.6% |
| Operating profit (loss) | 9901 | €67,880 | €79,547 | +€11,667 | +17.2% |
| Financial income | 75/76B | €10,449 | €7,048 | -€3,401 | -32.5% |
| Recurring financial income | 75 | €10,449 | €7,048 | -€3,401 | -32.5% |
| Financial charges | 65/66B | €12,707 | €32,046 | +€19,339 | +152% |
| Recurring financial charges | 65 | €12,707 | €32,046 | +€19,339 | +152% |
| Profit (loss) for the period before taxes | 9903 | €65,622 | €54,549 | -€11,072 | -16.9% |
| Income taxes | 67/77 | €17,964 | €15,623 | -€2,341 | -13.0% |
| Profit (loss) for the period | 9904 | €47,658 | €38,927 | -€8,732 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,658 | €38,927 | -€8,732 | -18.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.