P-vest: 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-vest
Largest movements
- Tangible fixed assets +€6.5m
up €6.5m (+44100.3%), from €14,718 to €6.5m
of which Land and buildings: +€6.5m
- Receivables within one year +€1.5m
up €1.5m (+394.8%), from €375,082 to €1.9m
of which Other amounts receivable: +€952,691
- Debts after one year +€4.2m
new in 2025: €4.2m
- Reserves +€1.6m
up €1.6m (+112.2%), from €1.5m to €3.1m
of which Distributable reserves: +€1.6m
- Trade debts +€1.5m
up €1.5m (+266980.7%), from €580 to €1.5m
- Current portion of long-term debt +€388,459
up €388,459, from €0 to €388,459
- Other debts +€155,595
up €155,595 (+38.9%), from €400,000 to €555,595
- Gross operating margin +€446,640
up €446,640 (+2055.1%), from €21,733 to €468,373
- Depreciation +€242,538
up €242,538 (+1614.4%), from €15,024 to €257,562
- Financial charges +€130,262
up €130,262 (+13726.9%), from €949 to €131,211
of which Financial charges: +€130,262
- Financial income -€119,397
down €119,397 (-89.8%), from €133,012 to €13,615
- Taxes +€14,701
up €14,701 (+136.9%), from €10,741 to €25,441
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.
Cash bridge derived
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 | €3,203,803 | €11,193,460 | +€8.0m | +249.4% |
| Fixed assets | 21/28 | €2,800,088 | €9,290,794 | +€6.5m | +231.8% |
| Tangible fixed assets | 22/27 | €14,718 | €6,505,424 | +€6.5m | +44100.3% |
| Land and buildings | 22 | - | €6,505,424 | +€6.5m | |
| Furniture and vehicles | 24 | €14,718 | €0 | -€14,718 | -100.0% |
| Financial fixed assets | 28 | €2,785,370 | €2,785,370 | = | 0.0% |
| Current assets | 29/58 | €403,715 | €1,902,665 | +€1.5m | +371.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €375,082 | €1,855,809 | +€1.5m | +394.8% |
| Trade receivables | 40 | €8,440 | €536,475 | +€528,036 | +6256.5% |
| Other amounts receivable | 41 | €366,643 | €1,319,333 | +€952,691 | +259.8% |
| Cash at bank and in hand | 54/58 | €9,621 | €28,720 | +€19,099 | +198.5% |
| Deferred charges and accrued income | 490/1 | €19,012 | €18,136 | -€876 | -4.6% |
| Total equity and liabilities | 10/49 | €3,203,803 | €11,193,460 | +€8.0m | +249.4% |
| Equity | 10/15 | €2,790,667 | €4,448,486 | +€1.7m | +59.4% |
| Contributions | 10/11 | €1,325,770 | €1,339,592 | +€13,822 | +1.0% |
| Reserves | 13 | €1,464,897 | €3,108,895 | +€1.6m | +112.2% |
| Non-distributable reserves | 130/1 | - | €10,018 | +€10,018 | |
| Reserves not available under the articles | 1311 | - | €10,018 | +€10,018 | |
| Distributable reserves | 133 | €1,464,897 | €3,098,877 | +€1.6m | +111.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €413,136 | €6,744,973 | +€6.3m | +1532.6% |
| Amounts payable after more than one year | 17 | - | €4,225,770 | +€4.2m | |
| Financial debts | 170/4 | - | €4,225,770 | +€4.2m | |
| Amounts payable within one year | 42/48 | €413,136 | €2,518,563 | +€2.1m | +509.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €388,459 | +€388,459 | |
| Trade debts | 44 | €580 | €1,549,068 | +€1.5m | +266980.7% |
| Suppliers | 440/4 | €580 | €1,549,068 | +€1.5m | +266980.7% |
| Taxes, remuneration and social security | 45 | €12,556 | €25,441 | +€12,885 | +102.6% |
| Taxes | 450/3 | €12,556 | €25,441 | +€12,885 | +102.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €400,000 | €555,595 | +€155,595 | +38.9% |
| Accrued charges and deferred income | 492/3 | - | €641 | +€641 | |
| Remuneration, social security and pensions | 62 | -€13,413 | €116 | +€13,529 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,024 | €257,562 | +€242,538 | +1614.4% |
| Other operating charges | 640/8 | €115 | €126 | +€11 | +9.6% |
| Gross operating margin | 9900 | €21,733 | €468,373 | +€446,640 | +2055.1% |
| Operating profit (loss) | 9901 | €20,007 | €210,569 | +€190,561 | +952.5% |
| Financial income | 75/76B | €133,012 | €13,615 | -€119,397 | -89.8% |
| Recurring financial income | 75 | €133,012 | €13,615 | -€119,397 | -89.8% |
| Financial charges | 65/66B | €949 | €131,211 | +€130,262 | +13726.9% |
| Recurring financial charges | 65 | €949 | €131,211 | +€130,262 | +13726.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €152,071 | €92,973 | -€59,098 | -38.9% |
| Income taxes | 67/77 | €10,741 | €25,441 | +€14,701 | +136.9% |
| Profit (loss) for the period | 9904 | €141,330 | €67,531 | -€73,798 | -52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €141,330 | €67,531 | -€73,798 | -52.2% |
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 12 October 2026 via checked.be.