PB INTERNATIONAL: 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 INTERNATIONAL
Largest movements
- Tangible fixed assets +€48,409
up €48,409 (+16.1%), from €300,737 to €349,146
of which Leasing and similar rights: +€53,369
- Receivables within one year -€6,785
down €6,785 (-7.8%), from €87,117 to €80,332
of which Trade receivables: -€8,043
- Trade debts -€87,554
down €87,554 (-99.2%), from €88,239 to €685
- Profit (loss) carried forward +€61,343
up €61,343, from -€61,343 to €0
- Debts after one year +€36,995
up €36,995 (+13.3%), from €277,744 to €314,739
- Current portion of long-term debt +€13,104
new in 2025: €13,104
- Other debts +€8,842
up €8,842 (+14.7%), from €59,992 to €68,834
- Gross operating margin +€62,192
up €62,192 (+283%), from €21,954 to €84,146
- Depreciation +€1,618
up €1,618 (+14.1%), from €11,455 to €13,073
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 | €393,430 | €430,770 | +€37,340 | +9.5% |
| Fixed assets | 21/28 | €300,737 | €349,146 | +€48,409 | +16.1% |
| Tangible fixed assets | 22/27 | €300,737 | €349,146 | +€48,409 | +16.1% |
| Land and buildings | 22 | €299,950 | €288,638 | -€11,312 | -3.8% |
| Plant, machinery and equipment | 23 | €787 | €644 | -€143 | -18.1% |
| Furniture and vehicles | 24 | - | €6,495 | +€6,495 | |
| Leasing and similar rights | 25 | - | €53,369 | +€53,369 | |
| Current assets | 29/58 | €92,693 | €81,624 | -€11,069 | -11.9% |
| Amounts receivable within one year | 40/41 | €87,117 | €80,332 | -€6,785 | -7.8% |
| Trade receivables | 40 | €84,337 | €76,294 | -€8,043 | -9.5% |
| Other amounts receivable | 41 | €2,780 | €4,038 | +€1,258 | +45.2% |
| Cash at bank and in hand | 54/58 | €3,146 | €1,292 | -€1,854 | -58.9% |
| Deferred charges and accrued income | 490/1 | €2,430 | €0 | -€2,430 | -100% |
| Total equity and liabilities | 10/49 | €393,430 | €430,770 | +€37,340 | +9.5% |
| Equity | 10/15 | -€42,743 | €23,414 | +€66,157 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €4,814 | +€4,814 | |
| Distributable reserves | 133 | - | €4,814 | +€4,814 | |
| Profit (loss) carried forward | 14 | -€61,343 | €0 | +€61,343 | |
| Amounts payable | 17/49 | €436,173 | €407,356 | -€28,817 | -6.6% |
| Amounts payable after more than one year | 17 | €277,744 | €314,739 | +€36,995 | +13.3% |
| Financial debts | 170/4 | €277,744 | €314,739 | +€36,995 | +13.3% |
| Amounts payable within one year | 42/48 | €157,429 | €91,617 | -€65,812 | -41.8% |
| Current portion of amounts payable after more than one year | 42 | - | €13,104 | +€13,104 | |
| Financial debts | 43 | €8,817 | €8,817 | = | 0.0% |
| Credit institutions | 430/8 | €8,817 | €8,817 | = | 0.0% |
| Trade debts | 44 | €88,239 | €685 | -€87,554 | -99.2% |
| Suppliers | 440/4 | €88,239 | €685 | -€87,554 | -99.2% |
| Taxes, remuneration and social security | 45 | €382 | €178 | -€204 | -53.4% |
| Taxes | 450/3 | €382 | €178 | -€204 | -53.4% |
| Other amounts payable | 47/48 | €59,992 | €68,834 | +€8,842 | +14.7% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,455 | €13,073 | +€1,618 | +14.1% |
| Other operating charges | 640/8 | €2,600 | €2,736 | +€136 | +5.2% |
| Gross operating margin | 9900 | €21,954 | €84,146 | +€62,192 | +283% |
| Operating profit (loss) | 9901 | €7,899 | €68,338 | +€60,439 | +765% |
| Financial income | 75/76B | €1 | €0 | -€1 | -65.9% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -65.9% |
| Financial charges | 65/66B | €1,476 | €2,003 | +€527 | +35.7% |
| Recurring financial charges | 65 | €1,476 | €2,003 | +€527 | +35.7% |
| Profit (loss) for the period before taxes | 9903 | €6,424 | €66,335 | +€59,911 | +933% |
| Income taxes | 67/77 | €186 | €178 | -€9 | -4.6% |
| Profit (loss) for the period | 9904 | €6,237 | €66,157 | +€59,920 | +961% |
| Profit (loss) for the period to be appropriated | 9905 | €6,237 | €66,157 | +€59,920 | +961% |
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 26 October 2026 via checked.be.