PBO TRADING: 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.
PBO TRADING
Largest movements
- Receivables within one year +€21,692
up €21,692 (+39.0%), from €55,646 to €77,338
of which Other amounts receivable: +€27,039
- Cash -€9,902
down €9,902 (-99.8%), from €9,921 to €19
mainly Net result for the year (-€26,992) and Receivables within one year (-€21,692)
- Trade debts +€46,236
up €46,236 (+174%), from €26,618 to €72,854
- Profit (loss) carried forward -€26,992
down €26,992, from €21,139 to -€5,853
- Tax, wage and social debts -€4,057
down €4,057 (-37.1%), from €10,944 to €6,887
- Other debts -€3,614
no longer reported in 2025 (was €3,614)
- Gross operating margin -€66,632
down €66,632, from €41,243 to -€25,389
- Taxes -€6,524
no longer reported in 2025 (was €6,524)
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 | €67,316 | €78,888 | +€11,572 | +17.2% |
| Formation expenses | 20 | €611 | €333 | -€278 | -45.5% |
| Fixed assets | 21/28 | €1,138 | €973 | -€165 | -14.5% |
| Tangible fixed assets | 22/27 | €302 | €137 | -€165 | -54.6% |
| Furniture and vehicles | 24 | €302 | €137 | -€165 | -54.6% |
| Financial fixed assets | 28 | €836 | €836 | +€0 | 0.0% |
| Current assets | 29/58 | €65,567 | €77,582 | +€12,015 | +18.3% |
| Amounts receivable within one year | 40/41 | €55,646 | €77,338 | +€21,692 | +39.0% |
| Trade receivables | 40 | €15,429 | €10,083 | -€5,346 | -34.7% |
| Other amounts receivable | 41 | €40,216 | €67,255 | +€27,039 | +67.2% |
| Cash at bank and in hand | 54/58 | €9,921 | €19 | -€9,902 | -99.8% |
| Deferred charges and accrued income | 490/1 | - | €225 | +€225 | |
| Total equity and liabilities | 10/49 | €67,316 | €78,888 | +€11,572 | +17.2% |
| Equity | 10/15 | €26,139 | -€853 | -€26,992 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,139 | -€5,853 | -€26,992 | |
| Amounts payable | 17/49 | €41,176 | €79,741 | +€38,565 | +93.7% |
| Amounts payable within one year | 42/48 | €41,176 | €79,741 | +€38,565 | +93.7% |
| Trade debts | 44 | €26,618 | €72,854 | +€46,236 | +174% |
| Suppliers | 440/4 | €26,618 | €72,854 | +€46,236 | +174% |
| Taxes, remuneration and social security | 45 | €10,944 | €6,887 | -€4,057 | -37.1% |
| Taxes | 450/3 | €10,944 | €6,887 | -€4,057 | -37.1% |
| Other amounts payable | 47/48 | €3,614 | - | -€3,614 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €808 | €442 | -€366 | -45.3% |
| Other operating charges | 640/8 | €141 | €544 | +€404 | +287% |
| Gross operating margin | 9900 | €41,243 | -€25,389 | -€66,632 | |
| Operating profit (loss) | 9901 | €40,295 | -€26,375 | -€66,670 | |
| Financial income | 75/76B | €0 | €135 | +€135 | +31,295% |
| Recurring financial income | 75 | €0 | €135 | +€135 | +31,295% |
| Financial charges | 65/66B | €811 | €752 | -€59 | -7.3% |
| Recurring financial charges | 65 | €811 | €752 | -€59 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €39,484 | -€26,992 | -€66,476 | |
| Income taxes | 67/77 | €6,524 | - | -€6,524 | |
| Profit (loss) for the period | 9904 | €32,960 | -€26,992 | -€59,952 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,960 | -€26,992 | -€59,952 |
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 16 October 2026 via checked.be.