P.W. CONSULTING: 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.W. CONSULTING
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€119,057
2024 · -€117,005-€2,053
Equity
€1.3m
2024 · €1.4m-€119,057
Cash
€718
2024 · €1,295-€578
Balance sheet total
€2.8m
2024 · €2.9m-€39,689
Largest movements
Assets
- Receivables after one year -€34,249
down €34,249 (-7.7%), from €446,360 to €412,111
Equity and liabilities
- Reserves -€119,057
down €119,057 (-9.0%), from €1.3m to €1.2m
of which Distributable reserves: -€119,057
Income statement
- Gross operating margin +€16,396
up €16,396 (+35.5%), from €46,123 to €62,519
- Depreciation +€6,239
up €6,239 (+5.0%), from €123,839 to €130,078
- Other operating charges +€6,192
up €6,192 (+71.3%), from €8,686 to €14,878
- Financial income -€5,755
down €5,755 (-32.6%), from €17,643 to €11,888
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
-€117,005
Gross operating margin
+€16,396
Staff costs
-€112
Depreciation
-€6,239
Other operating charges
-€6,192
Financial income
-€5,755
Financial charges
-€186
Taxes
+€35
Result 2025
-€119,057
raises the resultlowers the result
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
+€95,719
Investment
-€151,827
Financing
+€55,531
Cash 2024
€1,295
From operations (derived)
+€95,719
Net result for the year
-€119,057
Depreciation
+€130,078
Receivables after one year
+€34,249
Receivables within one year
+€26,747
Deferred charges and accrued income
-€135
Trade debts
+€17,651
Tax, wage and social debts
+€6,187
Investment (derived)
-€151,827
Investment in fixed assets (net)
-€151,827
Financing
+€55,531
Debts after one year
+€20,685
Current portion of long-term debt
+€14,738
Short-term financial debts
+€20,108
Cash 2025
€718
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,868,611 | €2,828,921 | -€39,689 | -1.4% |
| Fixed assets | 21/28 | €2,354,953 | €2,376,702 | +€21,749 | +0.9% |
| Tangible fixed assets | 22/27 | €2,349,953 | €2,371,702 | +€21,749 | +0.9% |
| Land and buildings | 22 | €2,303,113 | €2,337,261 | +€34,148 | +1.5% |
| Plant, machinery and equipment | 23 | €2,649 | €1,484 | -€1,165 | -44.0% |
| Furniture and vehicles | 24 | €1,895 | €772 | -€1,123 | -59.3% |
| Other tangible fixed assets | 26 | €42,295 | €32,184 | -€10,111 | -23.9% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €513,658 | €452,219 | -€61,438 | -12.0% |
| Amounts receivable after more than one year | 29 | €446,360 | €412,111 | -€34,249 | -7.7% |
| Other amounts receivable | 291 | €446,360 | €412,111 | -€34,249 | -7.7% |
| Amounts receivable within one year | 40/41 | €63,253 | €36,506 | -€26,747 | -42.3% |
| Trade receivables | 40 | €46,308 | €23,502 | -€22,807 | -49.2% |
| Other amounts receivable | 41 | €16,944 | €13,004 | -€3,940 | -23.3% |
| Cash at bank and in hand | 54/58 | €1,295 | €718 | -€578 | -44.6% |
| Deferred charges and accrued income | 490/1 | €2,749 | €2,884 | +€135 | +4.9% |
| Total equity and liabilities | 10/49 | €2,868,611 | €2,828,921 | -€39,689 | -1.4% |
| Equity | 10/15 | €1,383,691 | €1,264,633 | -€119,057 | -8.6% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €1,321,191 | €1,202,133 | -€119,057 | -9.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €1,314,941 | €1,195,883 | -€119,057 | -9.1% |
| Amounts payable | 17/49 | €1,484,920 | €1,564,288 | +€79,368 | +5.3% |
| Amounts payable after more than one year | 17 | €1,345,737 | €1,366,422 | +€20,685 | +1.5% |
| Financial debts | 170/4 | €1,345,737 | €1,366,422 | +€20,685 | +1.5% |
| Amounts payable within one year | 42/48 | €139,183 | €197,866 | +€58,683 | +42.2% |
| Current portion of amounts payable after more than one year | 42 | €95,840 | €110,578 | +€14,738 | +15.4% |
| Financial debts | 43 | €19,051 | €39,160 | +€20,108 | +106% |
| Credit institutions | 430/8 | €19,051 | €39,160 | +€20,108 | +106% |
| Trade debts | 44 | €21,273 | €38,924 | +€17,651 | +83.0% |
| Suppliers | 440/4 | €21,273 | €38,924 | +€17,651 | +83.0% |
| Taxes, remuneration and social security | 45 | €3,018 | €9,205 | +€6,187 | +205% |
| Taxes | 450/3 | €2,499 | €8,685 | +€6,187 | +248% |
| Remuneration and social security | 454/9 | €519 | €519 | = | 0.0% |
| Non-recurring operating income | 76A | €14,500 | - | -€14,500 | |
| Remuneration, social security and pensions | 62 | €607 | €719 | +€112 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,839 | €130,078 | +€6,239 | +5.0% |
| Other operating charges | 640/8 | €8,686 | €14,878 | +€6,192 | +71.3% |
| Gross operating margin | 9900 | €46,123 | €62,519 | +€16,396 | +35.5% |
| Operating profit (loss) | 9901 | -€87,009 | -€83,156 | +€3,853 | +4.4% |
| Financial income | 75/76B | €17,643 | €11,888 | -€5,755 | -32.6% |
| Recurring financial income | 75 | €17,643 | €11,888 | -€5,755 | -32.6% |
| Financial charges | 65/66B | €47,403 | €47,589 | +€186 | +0.4% |
| Recurring financial charges | 65 | €47,403 | €47,589 | +€186 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | -€116,769 | -€118,857 | -€2,088 | -1.8% |
| Income taxes | 67/77 | €236 | €201 | -€35 | -14.9% |
| Profit (loss) for the period | 9904 | -€117,005 | -€119,057 | -€2,053 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€117,005 | -€119,057 | -€2,053 | -1.8% |
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 1 November 2026 via checked.be.