P.W. FINANCES: 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.W. FINANCES
Largest movements
- Receivables within one year +€27,942
up €27,942 (+76.5%), from €36,519 to €64,461
of which Other amounts receivable: +€28,312
- Reserves +€50,000
up €50,000 (+21.4%), from €234,108 to €284,108
- Debts after one year -€21,595
down €21,595 (-13.4%), from €161,238 to €139,643
- Tax, wage and social debts +€5,324
up €5,324 (+33.9%), from €15,725 to €21,050
- Gross operating margin +€9,641
up €9,641 (+13.7%), from €70,246 to €79,887
- Staff costs -€7,983
no longer reported in 2025 (was €7,983)
- Taxes +€6,634
up €6,634 (+38.1%), from €17,416 to €24,050
- Other operating charges +€883
up €883 (+83.6%), from €1,056 to €1,939
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 | €488,425 | €518,783 | +€30,358 | +6.2% |
| Fixed assets | 21/28 | €346,000 | €346,000 | = | 0.0% |
| Financial fixed assets | 28 | €346,000 | €346,000 | = | 0.0% |
| Current assets | 29/58 | €142,425 | €172,783 | +€30,358 | +21.3% |
| Amounts receivable after more than one year | 29 | €104,040 | €104,040 | = | 0.0% |
| Other amounts receivable | 291 | €104,040 | €104,040 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €36,519 | €64,461 | +€27,942 | +76.5% |
| Trade receivables | 40 | €28,647 | €28,277 | -€371 | -1.3% |
| Other amounts receivable | 41 | €7,872 | €36,184 | +€28,312 | +360% |
| Cash at bank and in hand | 54/58 | €1,754 | €3,643 | +€1,890 | +108% |
| Deferred charges and accrued income | 490/1 | €111 | €638 | +€527 | +473% |
| Total equity and liabilities | 10/49 | €488,425 | €518,783 | +€30,358 | +6.2% |
| Equity | 10/15 | €253,830 | €304,741 | +€50,911 | +20.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €234,108 | €284,108 | +€50,000 | +21.4% |
| Distributable reserves | 133 | €234,108 | €284,108 | +€50,000 | +21.4% |
| Profit (loss) carried forward | 14 | €1,122 | €2,033 | +€911 | +81.2% |
| Amounts payable | 17/49 | €234,595 | €214,042 | -€20,553 | -8.8% |
| Amounts payable after more than one year | 17 | €161,238 | €139,643 | -€21,595 | -13.4% |
| Financial debts | 170/4 | €161,238 | €139,643 | -€21,595 | -13.4% |
| Amounts payable within one year | 42/48 | €73,357 | €74,399 | +€1,042 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €52,644 | €53,350 | +€706 | +1.3% |
| Financial debts | 43 | €4,988 | - | -€4,988 | |
| Credit institutions | 430/8 | €4,988 | - | -€4,988 | |
| Taxes, remuneration and social security | 45 | €15,725 | €21,050 | +€5,324 | +33.9% |
| Taxes | 450/3 | €15,725 | €21,050 | +€5,324 | +33.9% |
| Remuneration, social security and pensions | 62 | €7,983 | - | -€7,983 | |
| Other operating charges | 640/8 | €1,056 | €1,939 | +€883 | +83.6% |
| Gross operating margin | 9900 | €70,246 | €79,887 | +€9,641 | +13.7% |
| Operating profit (loss) | 9901 | €61,208 | €77,948 | +€16,741 | +27.4% |
| Financial income | 75/76B | €362 | €44 | -€318 | -87.8% |
| Recurring financial income | 75 | €362 | €44 | -€318 | -87.8% |
| Non-recurring financial income | 76B | €362 | €44 | -€318 | -87.8% |
| Financial charges | 65/66B | €3,704 | €3,031 | -€672 | -18.2% |
| Recurring financial charges | 65 | €3,704 | €3,031 | -€672 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €57,866 | €74,961 | +€17,095 | +29.5% |
| Income taxes | 67/77 | €17,416 | €24,050 | +€6,634 | +38.1% |
| Profit (loss) for the period | 9904 | €40,450 | €50,911 | +€10,461 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,450 | €50,911 | +€10,461 | +25.9% |
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 27 October 2026 via checked.be.