P.V.S. Electronic Developments: 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. Electronic Developments
Largest movements
- Cash +€201,431
up €201,431 (+962%), from €20,932 to €222,363
mainly Net result for the year (+€161,688) and Tax, wage and social debts (+€62,188)
- Receivables within one year +€37,551
up €37,551 (+88.9%), from €42,251 to €79,803
of which Trade receivables: +€43,856
- Tangible fixed assets -€32,813
down €32,813 (-11.0%), from €298,043 to €265,231
- Stocks and contracts -€15,188
down €15,188 (-26.9%), from €56,477 to €41,289
of which Contracts in progress: -€13,033
- Reserves +€160,855
up €160,855 (+65.8%), from €244,489 to €405,345
- Tax, wage and social debts +€62,188
up €62,188 (+1,016%), from €6,118 to €68,307
- Debts after one year -€28,469
down €28,469 (-18.0%), from €157,861 to €129,391
- Gross operating margin +€168,472
up €168,472 (+154%), from €109,449 to €277,921
- Taxes +€51,738
up €51,738 (+292%), from €17,736 to €69,474
- Financial charges +€2,825
up €2,825 (+37.7%), from €7,501 to €10,326
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 | €485,718 | €678,888 | +€193,169 | +39.8% |
| Fixed assets | 21/28 | €298,043 | €267,451 | -€30,593 | -10.3% |
| Tangible fixed assets | 22/27 | €298,043 | €265,231 | -€32,813 | -11.0% |
| Land and buildings | 22 | €210,244 | €196,348 | -€13,897 | -6.6% |
| Plant, machinery and equipment | 23 | €29,807 | €23,878 | -€5,929 | -19.9% |
| Furniture and vehicles | 24 | €57,992 | €45,005 | -€12,987 | -22.4% |
| Financial fixed assets | 28 | - | €2,220 | +€2,220 | |
| Current assets | 29/58 | €187,675 | €411,437 | +€223,762 | +119% |
| Stocks and contracts in progress | 3 | €56,477 | €41,289 | -€15,188 | -26.9% |
| Stocks | 30/36 | €43,443 | €41,289 | -€2,155 | -5.0% |
| Contracts in progress | 37 | €13,033 | - | -€13,033 | |
| Amounts receivable within one year | 40/41 | €42,251 | €79,803 | +€37,551 | +88.9% |
| Trade receivables | 40 | €29,986 | €73,842 | +€43,856 | +146% |
| Other amounts receivable | 41 | €12,265 | €5,961 | -€6,304 | -51.4% |
| Current investments | 50/53 | €61,530 | €62,084 | +€554 | +0.9% |
| Cash at bank and in hand | 54/58 | €20,932 | €222,363 | +€201,431 | +962% |
| Deferred charges and accrued income | 490/1 | €6,485 | €5,899 | -€586 | -9.0% |
| Total equity and liabilities | 10/49 | €485,718 | €678,888 | +€193,169 | +39.8% |
| Equity | 10/15 | €263,089 | €423,945 | +€160,855 | +61.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €244,489 | €405,345 | +€160,855 | +65.8% |
| Distributable reserves | 133 | €244,489 | €405,345 | +€160,855 | +65.8% |
| Amounts payable | 17/49 | €222,629 | €254,943 | +€32,314 | +14.5% |
| Amounts payable after more than one year | 17 | €157,861 | €129,391 | -€28,469 | -18.0% |
| Financial debts | 170/4 | €157,861 | €129,391 | -€28,469 | -18.0% |
| Amounts payable within one year | 42/48 | €61,261 | €122,258 | +€60,997 | +99.6% |
| Current portion of amounts payable after more than one year | 42 | €28,680 | €29,561 | +€881 | +3.1% |
| Trade debts | 44 | €4,591 | €3,727 | -€864 | -18.8% |
| Suppliers | 440/4 | €4,591 | €3,727 | -€864 | -18.8% |
| Taxes, remuneration and social security | 45 | €6,118 | €68,307 | +€62,188 | +1,016% |
| Taxes | 450/3 | €6,118 | €68,307 | +€62,188 | +1,016% |
| Other amounts payable | 47/48 | €21,872 | €20,663 | -€1,208 | -5.5% |
| Accrued charges and deferred income | 492/3 | €3,507 | €3,293 | -€214 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,990 | €36,369 | -€621 | -1.7% |
| Other operating charges | 640/8 | €1,854 | €1,781 | -€73 | -3.9% |
| Gross operating margin | 9900 | €109,449 | €277,921 | +€168,472 | +154% |
| Operating profit (loss) | 9901 | €70,605 | €239,771 | +€169,166 | +240% |
| Financial income | 75/76B | €952 | €1,717 | +€765 | +80.3% |
| Recurring financial income | 75 | €952 | €1,717 | +€765 | +80.3% |
| Financial charges | 65/66B | €7,501 | €10,326 | +€2,825 | +37.7% |
| Recurring financial charges | 65 | €7,501 | €10,326 | +€2,825 | +37.7% |
| Profit (loss) for the period before taxes | 9903 | €64,057 | €231,162 | +€167,106 | +261% |
| Income taxes | 67/77 | €17,736 | €69,474 | +€51,738 | +292% |
| Profit (loss) for the period | 9904 | €46,321 | €161,688 | +€115,368 | +249% |
| Profit (loss) for the period to be appropriated | 9905 | €46,321 | €161,688 | +€115,368 | +249% |
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 13 October 2026 via checked.be.