PB EXPERTISE: 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.
PB EXPERTISE
Largest movements
- Financial fixed assets +€191,855
new in 2025: €191,855
- Cash +€11,193
up €11,193 (+77.8%), from €14,384 to €25,577
mainly Debts after one year (+€163,351) and Net result for the year (+€20,923)
- Tangible fixed assets -€4,954
down €4,954 (-57.6%), from €8,608 to €3,654
- Receivables within one year -€3,722
down €3,722 (-13.7%), from €27,094 to €23,372
of which Other amounts receivable: -€10,063
- Debts after one year +€163,351
up €163,351 (+20,658%), from €791 to €164,142
of which Financial debts: +€113,351
- Current portion of long-term debt +€16,252
up €16,252 (+346%), from €4,690 to €20,942
- Tax, wage and social debts +€10,954
up €10,954 (+63.6%), from €17,219 to €28,173
- Gross operating margin +€23,311
up €23,311 (+139%), from €16,715 to €40,026
- Turnover +€21,074
up €21,074 (+15.8%), from €133,420 to €154,494
- Taxes +€4,479
up €4,479 (+131%), from €3,413 to €7,892
- Financial charges +€2,280
up €2,280 (+732%), from €311 to €2,591
- Purchases and services -€2,188
down €2,188 (-1.8%), from €118,449 to €116,261
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 | €50,086 | €244,457 | +€194,372 | +388% |
| Fixed assets | 21/28 | €8,608 | €195,509 | +€186,901 | +2,171% |
| Tangible fixed assets | 22/27 | €8,608 | €3,654 | -€4,954 | -57.6% |
| Furniture and vehicles | 24 | €8,608 | €3,654 | -€4,954 | -57.6% |
| Financial fixed assets | 28 | - | €191,855 | +€191,855 | |
| Current assets | 29/58 | €41,478 | €48,949 | +€7,471 | +18.0% |
| Amounts receivable within one year | 40/41 | €27,094 | €23,372 | -€3,722 | -13.7% |
| Trade receivables | 40 | €17,031 | €23,372 | +€6,341 | +37.2% |
| Other amounts receivable | 41 | €10,063 | - | -€10,063 | |
| Cash at bank and in hand | 54/58 | €14,384 | €25,577 | +€11,193 | +77.8% |
| Total equity and liabilities | 10/49 | €50,086 | €244,457 | +€194,372 | +388% |
| Equity | 10/15 | €27,201 | €28,125 | +€923 | +3.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €19,904 | €19,904 | = | 0.0% |
| Distributable reserves | 133 | €19,904 | €19,904 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,297 | €6,221 | +€923 | +17.4% |
| Amounts payable | 17/49 | €22,884 | €216,333 | +€193,448 | +845% |
| Amounts payable after more than one year | 17 | €791 | €164,142 | +€163,351 | +20,658% |
| Financial debts | 170/4 | €791 | €114,142 | +€113,351 | +14,335% |
| Other amounts payable | 178/9 | - | €50,000 | +€50,000 | |
| Amounts payable within one year | 42/48 | €22,094 | €52,191 | +€30,097 | +136% |
| Current portion of amounts payable after more than one year | 42 | €4,690 | €20,942 | +€16,252 | +346% |
| Trade debts | 44 | €184 | €1,716 | +€1,532 | +832% |
| Suppliers | 440/4 | €184 | €1,716 | +€1,532 | +832% |
| Taxes, remuneration and social security | 45 | €17,219 | €28,173 | +€10,954 | +63.6% |
| Taxes | 450/3 | €17,219 | €28,173 | +€10,954 | +63.6% |
| Other amounts payable | 47/48 | - | €1,359 | +€1,359 | |
| Turnover | 70 | €133,420 | €154,494 | +€21,074 | +15.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €118,449 | €116,261 | -€2,188 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,558 | €7,186 | +€628 | +9.6% |
| Other operating charges | 640/8 | €1,727 | €1,445 | -€282 | -16.3% |
| Gross operating margin | 9900 | €16,715 | €40,026 | +€23,311 | +139% |
| Operating profit (loss) | 9901 | €8,430 | €31,396 | +€22,966 | +272% |
| Financial income | 75/76B | €592 | €10 | -€582 | -98.3% |
| Recurring financial income | 75 | €592 | €10 | -€582 | -98.3% |
| Financial charges | 65/66B | €311 | €2,591 | +€2,280 | +732% |
| Recurring financial charges | 65 | €311 | €2,591 | +€2,280 | +732% |
| Profit (loss) for the period before taxes | 9903 | €8,710 | €28,815 | +€20,104 | +231% |
| Income taxes | 67/77 | €3,413 | €7,892 | +€4,479 | +131% |
| Profit (loss) for the period | 9904 | €5,297 | €20,923 | +€15,626 | +295% |
| Profit (loss) for the period to be appropriated | 9905 | €5,297 | €20,923 | +€15,626 | +295% |
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.