PB IMMO: what changed
Two fiscal 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 IMMO
Largest movements
- Tangible fixed assets +€1.6m
up €1.6m (+77.9%), from €2.1m to €3.8m
- Receivables within one year +€337,635
up €337,635 (+15852.4%), from €2,130 to €339,765
of which Trade receivables: +€215,000
- Profit (loss) carried forward +€724,637
up €724,637, from -€294,891 to €429,746
- Other debts +€502,150
up €502,150 (+140.5%), from €357,464 to €859,614
- Debts after one year +€297,344
up €297,344 (+15.6%), from €1.9m to €2.2m
- Reserves +€237,526
up €237,526 (+300.3%), from €79,101 to €316,628
of which Distributable reserves: +€237,526
- Trade debts +€196,957
up €196,957 (+4704.3%), from €4,187 to €201,144
- Gross operating margin +€116,723
up €116,723, from -€20,376 to €96,346
- Depreciation +€44,654
up €44,654 (+36.5%), from €122,403 to €167,057
- Financial charges -€32,418
down €32,418 (-29.4%), from €110,328 to €77,911
- Other operating charges -€7,101
down €7,101 (-16.9%), from €41,964 to €34,864
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 | €2,133,060 | €4,141,316 | +€2.0m | +94.1% |
| Fixed assets | 21/28 | €2,115,642 | €3,763,367 | +€1.6m | +77.9% |
| Tangible fixed assets | 22/27 | €2,115,642 | €3,763,367 | +€1.6m | +77.9% |
| Land and buildings | 22 | €2,115,642 | €3,763,367 | +€1.6m | +77.9% |
| Current assets | 29/58 | €17,418 | €377,949 | +€360,530 | +2069.8% |
| Amounts receivable within one year | 40/41 | €2,130 | €339,765 | +€337,635 | +15852.4% |
| Trade receivables | 40 | - | €215,000 | +€215,000 | |
| Other amounts receivable | 41 | €2,130 | €124,765 | +€122,635 | +5757.9% |
| Cash at bank and in hand | 54/58 | €13,837 | €33,168 | +€19,331 | +139.7% |
| Deferred charges and accrued income | 490/1 | €1,452 | €5,016 | +€3,564 | +245.5% |
| Total equity and liabilities | 10/49 | €2,133,060 | €4,141,316 | +€2.0m | +94.1% |
| Equity | 10/15 | -€203,591 | €777,935 | +€981,526 | |
| Contributions | 10/11 | €12,199 | €31,562 | +€19,363 | +158.7% |
| Reserves | 13 | €79,101 | €316,628 | +€237,526 | +300.3% |
| Non-distributable reserves | 130/1 | €720 | €720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €720 | €720 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,808 | €11,808 | = | 0.0% |
| Distributable reserves | 133 | €66,574 | €304,100 | +€237,526 | +356.8% |
| Profit (loss) carried forward | 14 | -€294,891 | €429,746 | +€724,637 | |
| Amounts payable | 17/49 | €2,336,651 | €3,363,381 | +€1.0m | +43.9% |
| Amounts payable after more than one year | 17 | €1,906,115 | €2,203,459 | +€297,344 | +15.6% |
| Financial debts | 170/4 | €1,906,115 | €2,203,459 | +€297,344 | +15.6% |
| Amounts payable within one year | 42/48 | €430,536 | €1,159,922 | +€729,386 | +169.4% |
| Current portion of amounts payable after more than one year | 42 | €68,885 | €99,164 | +€30,279 | +44.0% |
| Trade debts | 44 | €4,187 | €201,144 | +€196,957 | +4704.3% |
| Suppliers | 440/4 | €4,187 | €201,144 | +€196,957 | +4704.3% |
| Other amounts payable | 47/48 | €357,464 | €859,614 | +€502,150 | +140.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,403 | €167,057 | +€44,654 | +36.5% |
| Other operating charges | 640/8 | €41,964 | €34,864 | -€7,101 | -16.9% |
| Gross operating margin | 9900 | -€20,376 | €96,346 | +€116,723 | |
| Operating profit (loss) | 9901 | -€184,743 | -€105,574 | +€79,169 | +42.9% |
| Financial income | 75/76B | €180 | €254 | +€74 | +40.9% |
| Recurring financial income | 75 | €180 | €254 | +€74 | +40.9% |
| Financial charges | 65/66B | €110,328 | €77,911 | -€32,418 | -29.4% |
| Recurring financial charges | 65 | €110,328 | €77,911 | -€32,418 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | -€294,891 | -€183,230 | +€111,661 | +37.9% |
| Profit (loss) for the period | 9904 | -€294,891 | -€183,230 | +€111,661 | +37.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€294,891 | -€183,230 | +€111,661 | +37.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.