PBay: 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.
PBay
Largest movements
- Stocks and contracts +€17,162
up €17,162 (+173.2%), from €9,909 to €27,071
of which Contracts in progress: +€20,000
- Receivables within one year +€10,342
up €10,342 (+18.4%), from €56,280 to €66,621
of which Trade receivables: +€14,603
- Cash -€2,051
down €2,051 (-26.8%), from €7,647 to €5,596
mainly Stocks and contracts (-€17,162) and Receivables within one year (-€10,342)
- Trade debts +€24,205
up €24,205 (+146.1%), from €16,563 to €40,768
- Advances received +€7,887
up €7,887 (+345.2%), from €2,285 to €10,172
- Debts after one year -€3,214
no longer reported in 2025 (was €3,214)
- Current portion of long-term debt -€2,771
down €2,771 (-46.2%), from €6,004 to €3,233
- Other debts -€2,024
down €2,024 (-20.9%), from €9,668 to €7,645
- Gross operating margin -€15,612
down €15,612 (-69.9%), from €22,349 to €6,736
- Depreciation -€5,174
down €5,174 (-75.7%), from €6,833 to €1,659
- Taxes -€3,037
down €3,037 (-77.0%), from €3,943 to €906
- Financial income -€1,043
down €1,043 (-97.6%), from €1,069 to €26
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 | €86,752 | €111,636 | +€24,884 | +28.7% |
| Fixed assets | 21/28 | €12,808 | €12,329 | -€479 | -3.7% |
| Tangible fixed assets | 22/27 | €12,808 | €12,329 | -€479 | -3.7% |
| Plant, machinery and equipment | 23 | - | €2,198 | +€2,198 | |
| Furniture and vehicles | 24 | €12,808 | €4,081 | -€8,726 | -68.1% |
| Other tangible fixed assets | 26 | - | €6,050 | +€6,050 | |
| Current assets | 29/58 | €73,944 | €99,307 | +€25,363 | +34.3% |
| Stocks and contracts in progress | 3 | €9,909 | €27,071 | +€17,162 | +173.2% |
| Stocks | 30/36 | €9,909 | €7,071 | -€2,838 | -28.6% |
| Contracts in progress | 37 | - | €20,000 | +€20,000 | |
| Amounts receivable within one year | 40/41 | €56,280 | €66,621 | +€10,342 | +18.4% |
| Trade receivables | 40 | €51,165 | €65,768 | +€14,603 | +28.5% |
| Other amounts receivable | 41 | €5,115 | €853 | -€4,262 | -83.3% |
| Cash at bank and in hand | 54/58 | €7,647 | €5,596 | -€2,051 | -26.8% |
| Deferred charges and accrued income | 490/1 | €109 | €19 | -€90 | -82.6% |
| Total equity and liabilities | 10/49 | €86,752 | €111,636 | +€24,884 | +28.7% |
| Equity | 10/15 | €44,617 | €47,118 | +€2,501 | +5.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €9,750 | €11,750 | +€2,000 | +20.5% |
| Tax-exempt reserves | 132 | €2,600 | €2,600 | = | 0.0% |
| Distributable reserves | 133 | €7,150 | €9,150 | +€2,000 | +28.0% |
| Profit (loss) carried forward | 14 | €28,667 | €29,168 | +€501 | +1.7% |
| Amounts payable | 17/49 | €42,135 | €64,518 | +€22,383 | +53.1% |
| Amounts payable after more than one year | 17 | €3,214 | - | -€3,214 | |
| Financial debts | 170/4 | €3,214 | - | -€3,214 | |
| Amounts payable within one year | 42/48 | €38,920 | €64,518 | +€25,597 | +65.8% |
| Current portion of amounts payable after more than one year | 42 | €6,004 | €3,233 | -€2,771 | -46.2% |
| Trade debts | 44 | €16,563 | €40,768 | +€24,205 | +146.1% |
| Suppliers | 440/4 | €16,563 | €40,768 | +€24,205 | +146.1% |
| Advances received on contracts in progress | 46 | €2,285 | €10,172 | +€7,887 | +345.2% |
| Taxes, remuneration and social security | 45 | €4,400 | €2,700 | -€1,700 | -38.6% |
| Taxes | 450/3 | €4,400 | €1,350 | -€3,050 | -69.3% |
| Remuneration and social security | 454/9 | - | €1,350 | +€1,350 | |
| Other amounts payable | 47/48 | €9,668 | €7,645 | -€2,024 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,833 | €1,659 | -€5,174 | -75.7% |
| Other operating charges | 640/8 | €820 | €1,029 | +€209 | +25.4% |
| Gross operating margin | 9900 | €22,349 | €6,736 | -€15,612 | -69.9% |
| Operating profit (loss) | 9901 | €14,696 | €4,049 | -€10,647 | -72.4% |
| Financial income | 75/76B | €1,069 | €26 | -€1,043 | -97.6% |
| Recurring financial income | 75 | €1,069 | €26 | -€1,043 | -97.6% |
| Financial charges | 65/66B | €749 | €668 | -€81 | -10.8% |
| Recurring financial charges | 65 | €559 | €365 | -€195 | -34.8% |
| Non-recurring financial charges | 66B | €189 | €303 | +€114 | +60.3% |
| Profit (loss) for the period before taxes | 9903 | €15,016 | €3,407 | -€11,609 | -77.3% |
| Income taxes | 67/77 | €3,943 | €906 | -€3,037 | -77.0% |
| Profit (loss) for the period | 9904 | €11,073 | €2,501 | -€8,572 | -77.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,073 | €2,501 | -€8,572 | -77.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.