PB2828 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.
PB2828 Management
Largest movements
- Cash +€29,530
up €29,530 (+25.5%), from €115,665 to €145,195
mainly Other debts (+€149,000) and Net result for the year (+€31,579)
- Receivables within one year +€6,701
up €6,701 (+18.0%), from €37,260 to €43,961
of which Other amounts receivable: +€5,315
- Tangible fixed assets -€3,923
down €3,923 (-48.5%), from €8,083 to €4,160
- Other debts +€149,000
new in 2025: €149,000
- Reserves -€117,421
down €117,421 (-78.5%), from €149,592 to €32,171
- Financial income -€22,141
down €22,141 (-94.7%), from €23,389 to €1,248
of which Non-recurring financial income: -€22,293
- Gross operating margin +€11,617
up €11,617 (+27.7%), from €41,995 to €53,612
- Other operating charges -€9,313
down €9,313 (-66.7%), from €13,966 to €4,653
- Taxes -€1,075
down €1,075 (-8.7%), from €12,407 to €11,332
- Financial charges -€752
down €752 (-18.2%), from €4,124 to €3,372
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 | €164,587 | €196,401 | +€31,814 | +19.3% |
| Fixed assets | 21/28 | €8,083 | €4,160 | -€3,923 | -48.5% |
| Tangible fixed assets | 22/27 | €8,083 | €4,160 | -€3,923 | -48.5% |
| Furniture and vehicles | 24 | €8,083 | €4,160 | -€3,923 | -48.5% |
| Current assets | 29/58 | €156,504 | €192,241 | +€35,737 | +22.8% |
| Amounts receivable within one year | 40/41 | €37,260 | €43,961 | +€6,701 | +18.0% |
| Trade receivables | 40 | €15,666 | €17,052 | +€1,386 | +8.8% |
| Other amounts receivable | 41 | €21,594 | €26,909 | +€5,315 | +24.6% |
| Cash at bank and in hand | 54/58 | €115,665 | €145,195 | +€29,530 | +25.5% |
| Deferred charges and accrued income | 490/1 | €3,579 | €3,086 | -€493 | -13.8% |
| Total equity and liabilities | 10/49 | €164,587 | €196,401 | +€31,814 | +19.3% |
| Equity | 10/15 | €154,592 | €37,171 | -€117,421 | -76.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €149,592 | €32,171 | -€117,421 | -78.5% |
| Distributable reserves | 133 | €149,592 | €32,171 | -€117,421 | -78.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €9,995 | €159,231 | +€149,235 | +1,493% |
| Amounts payable within one year | 42/48 | €9,995 | €159,231 | +€149,235 | +1,493% |
| Trade debts | 44 | €3,253 | €4,624 | +€1,371 | +42.1% |
| Suppliers | 440/4 | €3,253 | €4,624 | +€1,371 | +42.1% |
| Taxes, remuneration and social security | 45 | €6,742 | €5,607 | -€1,135 | -16.8% |
| Taxes | 450/3 | €4,542 | €3,407 | -€1,135 | -25.0% |
| Remuneration and social security | 454/9 | €2,200 | €2,200 | = | 0.0% |
| Other amounts payable | 47/48 | - | €149,000 | +€149,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,297 | €3,923 | -€375 | -8.7% |
| Other operating charges | 640/8 | €13,966 | €4,653 | -€9,313 | -66.7% |
| Gross operating margin | 9900 | €41,995 | €53,612 | +€11,617 | +27.7% |
| Operating profit (loss) | 9901 | €23,731 | €45,035 | +€21,304 | +89.8% |
| Financial income | 75/76B | €23,389 | €1,248 | -€22,141 | -94.7% |
| Recurring financial income | 75 | €1,096 | €1,248 | +€152 | +13.9% |
| Non-recurring financial income | 76B | €22,293 | €0 | -€22,293 | -100% |
| Financial charges | 65/66B | €4,124 | €3,372 | -€752 | -18.2% |
| Recurring financial charges | 65 | €4,124 | €3,372 | -€752 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €42,996 | €42,911 | -€85 | -0.2% |
| Income taxes | 67/77 | €12,407 | €11,332 | -€1,075 | -8.7% |
| Profit (loss) for the period | 9904 | €30,589 | €31,579 | +€990 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,589 | €31,579 | +€990 | +3.2% |
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 15 October 2026 via checked.be.