PBM-F: 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.
PBM-F
Largest movements
- Tangible fixed assets -€26,780
down €26,780 (-3.5%), from €768,057 to €741,276
- Cash +€25,230
up €25,230 (+1,631%), from €1,547 to €26,777
mainly Other debts (+€30,272) and Depreciation (+€26,780)
- Debts after one year -€42,782
down €42,782 (-6.4%), from €672,433 to €629,652
- Other debts +€30,272
new in 2025: €30,272
- Profit (loss) carried forward +€14,399
up €14,399 (+31.3%), from €46,061 to €60,461
- Gross operating margin +€7,603
up €7,603 (+11.6%), from €65,653 to €73,257
- Taxes +€1,404
up €1,404 (+39.4%), from €3,565 to €4,968
- Financial charges +€1,147
up €1,147 (+7.8%), from €14,712 to €15,860
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 | €771,661 | €770,199 | -€1,462 | -0.2% |
| Fixed assets | 21/28 | €768,057 | €741,276 | -€26,780 | -3.5% |
| Tangible fixed assets | 22/27 | €768,057 | €741,276 | -€26,780 | -3.5% |
| Land and buildings | 22 | €768,057 | €741,276 | -€26,780 | -3.5% |
| Current assets | 29/58 | €3,604 | €28,922 | +€25,318 | +702% |
| Amounts receivable within one year | 40/41 | €360 | €365 | +€5 | +1.4% |
| Other amounts receivable | 41 | €360 | €365 | +€5 | +1.4% |
| Cash at bank and in hand | 54/58 | €1,547 | €26,777 | +€25,230 | +1,631% |
| Deferred charges and accrued income | 490/1 | €1,697 | €1,780 | +€83 | +4.9% |
| Total equity and liabilities | 10/49 | €771,661 | €770,199 | -€1,462 | -0.2% |
| Equity | 10/15 | €49,061 | €63,461 | +€14,399 | +29.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,061 | €60,461 | +€14,399 | +31.3% |
| Amounts payable | 17/49 | €722,599 | €706,738 | -€15,861 | -2.2% |
| Amounts payable after more than one year | 17 | €672,433 | €629,652 | -€42,782 | -6.4% |
| Financial debts | 170/4 | €672,433 | €629,652 | -€42,782 | -6.4% |
| Amounts payable within one year | 42/48 | €50,166 | €77,087 | +€26,921 | +53.7% |
| Current portion of amounts payable after more than one year | 42 | €41,905 | €42,782 | +€877 | +2.1% |
| Trade debts | 44 | €2,188 | - | -€2,188 | |
| Suppliers | 440/4 | €2,188 | - | -€2,188 | |
| Taxes, remuneration and social security | 45 | €6,073 | €4,033 | -€2,040 | -33.6% |
| Taxes | 450/3 | €6,073 | €4,033 | -€2,040 | -33.6% |
| Other amounts payable | 47/48 | - | €30,272 | +€30,272 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,761 | €26,780 | +€19 | +0.1% |
| Other operating charges | 640/8 | €11,099 | €11,249 | +€150 | +1.4% |
| Gross operating margin | 9900 | €65,653 | €73,257 | +€7,603 | +11.6% |
| Operating profit (loss) | 9901 | €27,793 | €35,227 | +€7,434 | +26.7% |
| Financial charges | 65/66B | €14,712 | €15,860 | +€1,147 | +7.8% |
| Recurring financial charges | 65 | €14,712 | €15,860 | +€1,147 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €13,081 | €19,367 | +€6,287 | +48.1% |
| Income taxes | 67/77 | €3,565 | €4,968 | +€1,404 | +39.4% |
| Profit (loss) for the period | 9904 | €9,516 | €14,399 | +€4,883 | +51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,516 | €14,399 | +€4,883 | +51.3% |
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 21 October 2026 via checked.be.