PBD 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.
PBD MANAGEMENT
Largest movements
- Cash -€178,960
down €178,960 (-81.3%), from €220,141 to €41,181
mainly Current investments (-€100,000) and Investment in fixed assets (net) (-€56,993)
- Current investments +€100,000
new in 2025: €100,000
- Tangible fixed assets +€49,540
up €49,540 (+58.9%), from €84,162 to €133,702
of which Land and buildings: +€45,427
- Receivables within one year -€22,001
down €22,001 (-68.2%), from €32,271 to €10,270
of which Trade receivables: -€32,271
- Trade debts -€24,806
down €24,806 (-52.4%), from €47,359 to €22,553
- Other debts -€22,067
down €22,067 (-99.0%), from €22,295 to €228
- Debts after one year -€6,950
down €6,950 (-17.5%), from €39,814 to €32,864
- Reserves +€5,847
up €5,847 (+3.0%), from €198,080 to €203,927
- Tax, wage and social debts -€3,518
down €3,518 (-36.2%), from €9,708 to €6,190
of which Taxes: -€2,318
- Other operating charges +€7,824
up €7,824 (+1,568%), from €499 to €8,323
- Taxes +€3,173
up €3,173, from -€836 to €2,337
- Depreciation +€3,148
up €3,148 (+73.1%), from €4,305 to €7,453
- Gross operating margin +€2,971
up €2,971 (+13.6%), from €21,877 to €24,848
- Financial income -€2,040
down €2,040 (-99.9%), from €2,042 to €2
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 | €336,574 | €285,153 | -€51,421 | -15.3% |
| Fixed assets | 21/28 | €84,162 | €133,702 | +€49,540 | +58.9% |
| Tangible fixed assets | 22/27 | €84,162 | €133,702 | +€49,540 | +58.9% |
| Land and buildings | 22 | €64,953 | €110,380 | +€45,427 | +69.9% |
| Plant, machinery and equipment | 23 | - | €6,062 | +€6,062 | |
| Other tangible fixed assets | 26 | €19,209 | €17,260 | -€1,949 | -10.1% |
| Current assets | 29/58 | €252,412 | €151,451 | -€100,961 | -40.0% |
| Amounts receivable within one year | 40/41 | €32,271 | €10,270 | -€22,001 | -68.2% |
| Trade receivables | 40 | €32,271 | - | -€32,271 | |
| Other amounts receivable | 41 | - | €10,270 | +€10,270 | |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €220,141 | €41,181 | -€178,960 | -81.3% |
| Total equity and liabilities | 10/49 | €336,574 | €285,153 | -€51,421 | -15.3% |
| Equity | 10/15 | €210,570 | €216,367 | +€5,797 | +2.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €198,080 | €203,927 | +€5,847 | +3.0% |
| Distributable reserves | 133 | €198,080 | €203,927 | +€5,847 | +3.0% |
| Profit (loss) carried forward | 14 | €90 | €40 | -€50 | -55.6% |
| Amounts payable | 17/49 | €126,004 | €68,786 | -€57,218 | -45.4% |
| Amounts payable after more than one year | 17 | €39,814 | €32,864 | -€6,950 | -17.5% |
| Financial debts | 170/4 | €39,814 | €32,864 | -€6,950 | -17.5% |
| Amounts payable within one year | 42/48 | €86,190 | €35,922 | -€50,268 | -58.3% |
| Current portion of amounts payable after more than one year | 42 | €6,828 | €6,951 | +€123 | +1.8% |
| Trade debts | 44 | €47,359 | €22,553 | -€24,806 | -52.4% |
| Suppliers | 440/4 | €47,359 | €22,553 | -€24,806 | -52.4% |
| Taxes, remuneration and social security | 45 | €9,708 | €6,190 | -€3,518 | -36.2% |
| Taxes | 450/3 | €6,908 | €4,590 | -€2,318 | -33.6% |
| Remuneration and social security | 454/9 | €2,800 | €1,600 | -€1,200 | -42.9% |
| Other amounts payable | 47/48 | €22,295 | €228 | -€22,067 | -99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,305 | €7,453 | +€3,148 | +73.1% |
| Other operating charges | 640/8 | €499 | €8,323 | +€7,824 | +1,568% |
| Gross operating margin | 9900 | €21,877 | €24,848 | +€2,971 | +13.6% |
| Operating profit (loss) | 9901 | €17,073 | €9,072 | -€8,001 | -46.9% |
| Financial income | 75/76B | €2,042 | €2 | -€2,040 | -99.9% |
| Recurring financial income | 75 | €2,042 | €2 | -€2,040 | -99.9% |
| Financial charges | 65/66B | €1,070 | €939 | -€131 | -12.2% |
| Recurring financial charges | 65 | €1,070 | €939 | -€131 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €18,045 | €8,135 | -€9,910 | -54.9% |
| Income taxes | 67/77 | -€836 | €2,337 | +€3,173 | |
| Profit (loss) for the period | 9904 | €18,881 | €5,798 | -€13,083 | -69.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,881 | €5,798 | -€13,083 | -69.3% |
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 19 October 2026 via checked.be.