PBF IMMO: 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.
PBF IMMO
Largest movements
- Cash +€190,058
up €190,058 (+706%), from €26,929 to €216,987
mainly Debts after one year (+€187,145) and Net result for the year (+€79,703)
- Tangible fixed assets -€46,646
down €46,646 (-7.8%), from €596,693 to €550,047
of which Land and buildings: -€46,646
- Receivables within one year +€44,898
up €44,898 (+137%), from €32,853 to €77,751
of which Trade receivables: +€44,898
- Debts after one year +€187,145
up €187,145 (+146%), from €128,548 to €315,693
- Profit (loss) carried forward +€43,703
up €43,703 (+85.2%), from €51,304 to €95,008
- Other debts -€33,054
down €33,054 (-17.5%), from €189,265 to €156,211
- Trade debts -€18,045
down €18,045 (-72.7%), from €24,805 to €6,760
- Gross operating margin +€85,738
up €85,738 (+101%), from €84,579 to €170,317
- Taxes +€16,717
up €16,717 (+102,242%), from €16 to €16,733
- Staff costs +€9,807
up €9,807, from €0 to €9,807
- Depreciation +€9,498
up €9,498 (+26.0%), from €36,521 to €46,019
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 | €671,463 | €856,667 | +€185,204 | +27.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €596,693 | €550,047 | -€46,646 | -7.8% |
| Tangible fixed assets | 22/27 | €596,693 | €550,047 | -€46,646 | -7.8% |
| Land and buildings | 22 | €596,693 | €550,047 | -€46,646 | -7.8% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €74,770 | €306,619 | +€231,849 | +310% |
| Amounts receivable within one year | 40/41 | €32,853 | €77,751 | +€44,898 | +137% |
| Trade receivables | 40 | €32,853 | €77,751 | +€44,898 | +137% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €26,929 | €216,987 | +€190,058 | +706% |
| Deferred charges and accrued income | 490/1 | €14,988 | €11,881 | -€3,107 | -20.7% |
| Total equity and liabilities | 10/49 | €671,463 | €856,667 | +€185,204 | +27.6% |
| Equity | 10/15 | €304,641 | €348,345 | +€43,703 | +14.3% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €3,337 | €3,337 | = | 0.0% |
| Non-distributable reserves | 130/1 | €920 | €920 | = | 0.0% |
| Reserves not available under the articles | 1311 | €920 | €920 | = | 0.0% |
| Distributable reserves | 133 | €2,417 | €2,417 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,304 | €95,008 | +€43,703 | +85.2% |
| Amounts payable | 17/49 | €366,821 | €508,322 | +€141,500 | +38.6% |
| Amounts payable after more than one year | 17 | €128,548 | €315,693 | +€187,145 | +146% |
| Financial debts | 170/4 | €128,548 | €315,693 | +€187,145 | +146% |
| Amounts payable within one year | 42/48 | €231,570 | €184,590 | -€46,980 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €12,855 | €12,855 | = | 0.0% |
| Trade debts | 44 | €24,805 | €6,760 | -€18,045 | -72.7% |
| Suppliers | 440/4 | €24,805 | €6,760 | -€18,045 | -72.7% |
| Taxes, remuneration and social security | 45 | €4,645 | €8,764 | +€4,118 | +88.7% |
| Taxes | 450/3 | €2,530 | €6,649 | +€4,118 | +163% |
| Remuneration and social security | 454/9 | €2,115 | €2,115 | = | 0.0% |
| Other amounts payable | 47/48 | €189,265 | €156,211 | -€33,054 | -17.5% |
| Accrued charges and deferred income | 492/3 | €6,704 | €8,039 | +€1,335 | +19.9% |
| Remuneration, social security and pensions | 62 | €0 | €9,807 | +€9,807 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,521 | €46,019 | +€9,498 | +26.0% |
| Other operating charges | 640/8 | €10,985 | €10,307 | -€677 | -6.2% |
| Gross operating margin | 9900 | €84,579 | €170,317 | +€85,738 | +101% |
| Operating profit (loss) | 9901 | €37,073 | €104,183 | +€67,110 | +181% |
| Financial income | 75/76B | €434 | €477 | +€43 | +10.0% |
| Recurring financial income | 75 | €434 | €477 | +€43 | +10.0% |
| Financial charges | 65/66B | €8,209 | €8,224 | +€15 | +0.2% |
| Recurring financial charges | 65 | €8,209 | €8,224 | +€15 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €29,299 | €96,436 | +€67,138 | +229% |
| Income taxes | 67/77 | €16 | €16,733 | +€16,717 | +102,242% |
| Profit (loss) for the period | 9904 | €29,282 | €79,703 | +€50,421 | +172% |
| Profit (loss) for the period to be appropriated | 9905 | €29,282 | €79,703 | +€50,421 | +172% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.