PB11: 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.
PB11
Largest movements
- Stocks and contracts +€19,642
up €19,642 (+61.9%), from €31,714 to €51,356
- Receivables within one year +€16,000
up €16,000 (+903%), from €1,772 to €17,772
of which Trade receivables: +€13,228
- Deferred charges and accrued income +€3,191
up €3,191 (+3,237%), from €99 to €3,290
- Cash +€1,284
up €1,284 (+40.8%), from €3,151 to €4,435
mainly Debts after one year (+€30,000) and Trade debts (+€23,739)
- Debts after one year +€30,000
new in 2025: €30,000
- Trade debts +€23,739
up €23,739 (+935%), from €2,539 to €26,278
- Contributions -€18,900
down €18,900 (-50.4%), from €37,500 to €18,600
- Profit (loss) carried forward +€6,731
up €6,731, from -€3,650 to €3,081
- Tax, wage and social debts -€1,454
down €1,454 (-31.0%), from €4,689 to €3,235
- Purchases and services +€70,050
up €70,050 (+35.2%), from €198,979 to €269,029
- Turnover +€62,631
up €62,631 (+29.8%), from €210,493 to €273,124
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 | €41,685 | €81,802 | +€40,117 | +96.2% |
| Fixed assets | 21/28 | €4,950 | €4,950 | = | 0.0% |
| Financial fixed assets | 28 | €4,950 | €4,950 | = | 0.0% |
| Current assets | 29/58 | €36,735 | €76,852 | +€40,117 | +109% |
| Stocks and contracts in progress | 3 | €31,714 | €51,356 | +€19,642 | +61.9% |
| Stocks | 30/36 | €31,714 | €51,356 | +€19,642 | +61.9% |
| Amounts receivable within one year | 40/41 | €1,772 | €17,772 | +€16,000 | +903% |
| Trade receivables | 40 | €1,772 | €15,000 | +€13,228 | +747% |
| Other amounts receivable | 41 | - | €2,772 | +€2,772 | |
| Cash at bank and in hand | 54/58 | €3,151 | €4,435 | +€1,284 | +40.8% |
| Deferred charges and accrued income | 490/1 | €99 | €3,290 | +€3,191 | +3,237% |
| Total equity and liabilities | 10/49 | €41,685 | €81,802 | +€40,117 | +96.2% |
| Equity | 10/15 | €34,457 | €22,289 | -€12,169 | -35.3% |
| Contributions | 10/11 | €37,500 | €18,600 | -€18,900 | -50.4% |
| Reserves | 13 | €608 | €608 | = | 0.0% |
| Non-distributable reserves | 130/1 | €608 | €608 | = | 0.0% |
| Reserves not available under the articles | 1311 | €608 | €608 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,650 | €3,081 | +€6,731 | |
| Amounts payable | 17/49 | €7,228 | €59,513 | +€52,285 | +723% |
| Amounts payable after more than one year | 17 | - | €30,000 | +€30,000 | |
| Other amounts payable | 178/9 | - | €30,000 | +€30,000 | |
| Amounts payable within one year | 42/48 | €7,228 | €29,513 | +€22,285 | +308% |
| Trade debts | 44 | €2,539 | €26,278 | +€23,739 | +935% |
| Suppliers | 440/4 | €2,539 | €26,278 | +€23,739 | +935% |
| Taxes, remuneration and social security | 45 | €4,689 | €3,235 | -€1,454 | -31.0% |
| Taxes | 450/3 | €4,689 | €3,235 | -€1,454 | -31.0% |
| Turnover | 70 | €210,493 | €273,124 | +€62,631 | +29.8% |
| Non-recurring operating income | 76A | €237 | €2,827 | +€2,590 | +1,092% |
| Goods, raw materials, services and sundry goods | 60/61 | €198,979 | €269,029 | +€70,050 | +35.2% |
| Remuneration, social security and pensions | 62 | - | €448 | +€448 | |
| Other operating charges | 640/8 | €2,362 | €293 | -€2,070 | -87.6% |
| Gross operating margin | 9900 | €11,752 | €9,356 | -€2,396 | -20.4% |
| Operating profit (loss) | 9901 | €9,389 | €8,616 | -€774 | -8.2% |
| Financial charges | 65/66B | €34 | €1,101 | +€1,067 | +3,095% |
| Recurring financial charges | 65 | €34 | €1,101 | +€1,067 | +3,095% |
| Profit (loss) for the period before taxes | 9903 | €9,355 | €7,515 | -€1,840 | -19.7% |
| Income taxes | 67/77 | - | €783 | +€783 | |
| Profit (loss) for the period | 9904 | €9,355 | €6,731 | -€2,624 | -28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,355 | €6,731 | -€2,624 | -28.0% |
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 28 October 2026 via checked.be.