PB MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash +€311,601
up €311,601 (+2120.4%), from €14,696 to €326,297
mainly Net result for the year (+€656,747) and Provisions (+€278,378)
- Deferred charges and accrued income +€65,255
up €65,255 (+10013.5%), from €652 to €65,907
- Tangible fixed assets -€44,057
down €44,057 (-4.0%), from €1.1m to €1.1m
of which Land and buildings: -€121,461
- Receivables within one year +€38,915
up €38,915 (+10.2%), from €382,113 to €421,028
of which Other amounts receivable: +€45,570
- Reserves +€725,134
up €725,134 (+88.0%), from €823,578 to €1.5m
of which Tax-exempt reserves: +€835,134
- Provisions +€278,378
up €278,378 (+266.0%), from €104,671 to €383,049
of which Deferred taxes: +€278,378
- Debts after one year -€267,695
down €267,695 (-64.7%), from €413,945 to €146,249
of which Financial debts: -€267,695
- Profit (loss) carried forward -€178,387
down €178,387, from €12,571 to -€165,815
- Tax, wage and social debts -€138,331
down €138,331 (-93.2%), from €148,498 to €10,167
- Gross operating margin +€504,864
up €504,864 (+100.6%), from €501,899 to €1.0m
- Taxes -€118,097
down €118,097 (-95.5%), from €123,722 to €5,625
- Depreciation -€46,276
down €46,276 (-44.3%), from €104,423 to €58,147
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 | €1,756,391 | €2,128,104 | +€371,713 | +21.2% |
| Fixed assets | 21/28 | €1,248,930 | €1,204,873 | -€44,057 | -3.5% |
| Tangible fixed assets | 22/27 | €1,097,530 | €1,053,473 | -€44,057 | -4.0% |
| Land and buildings | 22 | €1,008,527 | €887,066 | -€121,461 | -12.0% |
| Plant, machinery and equipment | 23 | €2,499 | €85,133 | +€82,634 | +3306.5% |
| Furniture and vehicles | 24 | €86,504 | €81,274 | -€5,230 | -6.0% |
| Financial fixed assets | 28 | €151,400 | €151,400 | = | 0.0% |
| Current assets | 29/58 | €507,461 | €923,231 | +€415,771 | +81.9% |
| Amounts receivable after more than one year | 29 | €110,000 | €110,000 | = | 0.0% |
| Other amounts receivable | 291 | €110,000 | €110,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €382,113 | €421,028 | +€38,915 | +10.2% |
| Trade receivables | 40 | €23,763 | €17,108 | -€6,655 | -28.0% |
| Other amounts receivable | 41 | €358,351 | €403,920 | +€45,570 | +12.7% |
| Cash at bank and in hand | 54/58 | €14,696 | €326,297 | +€311,601 | +2120.4% |
| Deferred charges and accrued income | 490/1 | €652 | €65,907 | +€65,255 | +10013.5% |
| Total equity and liabilities | 10/49 | €1,756,391 | €2,128,104 | +€371,713 | +21.2% |
| Equity | 10/15 | €842,349 | €1,389,096 | +€546,747 | +64.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €823,578 | €1,548,712 | +€725,134 | +88.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €224,013 | €1,059,147 | +€835,134 | +372.8% |
| Distributable reserves | 133 | €597,705 | €487,705 | -€110,000 | -18.4% |
| Profit (loss) carried forward | 14 | €12,571 | -€165,815 | -€178,387 | |
| Provisions and deferred taxes | 16 | €104,671 | €383,049 | +€278,378 | +266.0% |
| Provisions for liabilities and charges | 160/5 | €30,000 | €30,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €30,000 | €30,000 | = | 0.0% |
| Deferred taxes | 168 | €74,671 | €353,049 | +€278,378 | +372.8% |
| Amounts payable | 17/49 | €809,371 | €355,959 | -€453,412 | -56.0% |
| Amounts payable after more than one year | 17 | €413,945 | €146,249 | -€267,695 | -64.7% |
| Financial debts | 170/4 | €406,445 | €138,749 | -€267,695 | -65.9% |
| Other amounts payable | 178/9 | €7,500 | €7,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €388,426 | €205,657 | -€182,769 | -47.1% |
| Current portion of amounts payable after more than one year | 42 | €60,368 | €5,251 | -€55,117 | -91.3% |
| Trade debts | 44 | €29,434 | €7,438 | -€21,996 | -74.7% |
| Suppliers | 440/4 | €29,434 | €7,438 | -€21,996 | -74.7% |
| Taxes, remuneration and social security | 45 | €148,498 | €10,167 | -€138,331 | -93.2% |
| Taxes | 450/3 | €148,498 | €10,167 | -€138,331 | -93.2% |
| Other amounts payable | 47/48 | €150,126 | €182,801 | +€32,675 | +21.8% |
| Accrued charges and deferred income | 492/3 | €7,000 | €4,053 | -€2,947 | -42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,423 | €58,147 | -€46,276 | -44.3% |
| Other operating charges | 640/8 | €9,928 | €3,972 | -€5,956 | -60.0% |
| Non-recurring operating charges | 66A | €252 | €204 | -€48 | -19.0% |
| Gross operating margin | 9900 | €501,899 | €1,006,763 | +€504,864 | +100.6% |
| Operating profit (loss) | 9901 | €387,296 | €944,440 | +€557,144 | +143.9% |
| Financial income | 75/76B | €3,915 | €4,634 | +€719 | +18.4% |
| Recurring financial income | 75 | €3,915 | €4,634 | +€719 | +18.4% |
| Financial charges | 65/66B | €9,305 | €8,324 | -€981 | -10.5% |
| Recurring financial charges | 65 | €9,305 | €8,324 | -€981 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €381,906 | €940,750 | +€558,844 | +146.3% |
| Transfer from deferred taxes | 780 | - | €32 | +€32 | |
| Transfer to deferred taxes | 680 | - | €278,410 | +€278,410 | |
| Income taxes | 67/77 | €123,722 | €5,625 | -€118,097 | -95.5% |
| Profit (loss) for the period | 9904 | €258,184 | €656,747 | +€398,563 | +154.4% |
| Transfer from tax-exempt reserves | 789 | - | €95 | +€95 | |
| Transfer to tax-exempt reserves | 689 | - | €835,229 | +€835,229 | |
| Profit (loss) for the period to be appropriated | 9905 | €258,184 | -€178,387 | -€436,571 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.