PBRW: 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.
PBRW
Largest movements
- Cash +€42,979
up €42,979 (+241.5%), from €17,796 to €60,775
mainly Net result for the year (+€54,758) and Tax, wage and social debts (+€15,689)
- Receivables within one year +€2,277
up €2,277 (+115.4%), from €1,973 to €4,250
of which Trade receivables: +€2,277
- Reserves +€54,758
up €54,758 (+82.9%), from €66,068 to €120,826
- Tax, wage and social debts +€15,689
up €15,689 (+263.9%), from €5,944 to €21,633
of which Taxes: +€16,189
- Debts after one year -€14,330
down €14,330 (-25.1%), from €57,193 to €42,863
- Other debts -€12,756
down €12,756 (-51.2%), from €24,910 to €12,154
- Gross operating margin +€29,019
up €29,019 (+65.0%), from €44,669 to €73,688
- Taxes +€5,694
up €5,694 (+70.7%), from €8,055 to €13,749
- Other operating charges +€1,318
up €1,318 (+693.7%), from €190 to €1,508
- Financial charges -€990
down €990 (-23.6%), from €4,199 to €3,209
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 | €173,603 | €218,394 | +€44,791 | +25.8% |
| Fixed assets | 21/28 | €153,834 | €153,369 | -€465 | -0.3% |
| Tangible fixed assets | 22/27 | €1,834 | €1,369 | -€465 | -25.4% |
| Plant, machinery and equipment | 23 | €1,834 | €1,369 | -€465 | -25.4% |
| Financial fixed assets | 28 | €152,000 | €152,000 | = | 0.0% |
| Current assets | 29/58 | €19,769 | €65,025 | +€45,256 | +228.9% |
| Amounts receivable within one year | 40/41 | €1,973 | €4,250 | +€2,277 | +115.4% |
| Trade receivables | 40 | - | €2,277 | +€2,277 | |
| Other amounts receivable | 41 | €1,973 | €1,973 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,796 | €60,775 | +€42,979 | +241.5% |
| Total equity and liabilities | 10/49 | €173,603 | €218,394 | +€44,791 | +25.8% |
| Equity | 10/15 | €71,068 | €125,826 | +€54,758 | +77.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €66,068 | €120,826 | +€54,758 | +82.9% |
| Distributable reserves | 133 | €66,068 | €120,826 | +€54,758 | +82.9% |
| Amounts payable | 17/49 | €102,535 | €92,568 | -€9,967 | -9.7% |
| Amounts payable after more than one year | 17 | €57,193 | €42,863 | -€14,330 | -25.1% |
| Financial debts | 170/4 | €57,193 | €42,863 | -€14,330 | -25.1% |
| Amounts payable within one year | 42/48 | €45,342 | €49,705 | +€4,363 | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €13,932 | €14,330 | +€398 | +2.9% |
| Trade debts | 44 | €556 | €1,588 | +€1,032 | +185.6% |
| Suppliers | 440/4 | €556 | €1,588 | +€1,032 | +185.6% |
| Taxes, remuneration and social security | 45 | €5,944 | €21,633 | +€15,689 | +263.9% |
| Taxes | 450/3 | €3,944 | €20,133 | +€16,189 | +410.5% |
| Remuneration and social security | 454/9 | €2,000 | €1,500 | -€500 | -25.0% |
| Other amounts payable | 47/48 | €24,910 | €12,154 | -€12,756 | -51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €464 | €464 | = | 0.0% |
| Other operating charges | 640/8 | €190 | €1,508 | +€1,318 | +693.7% |
| Gross operating margin | 9900 | €44,669 | €73,688 | +€29,019 | +65.0% |
| Operating profit (loss) | 9901 | €44,015 | €71,716 | +€27,701 | +62.9% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €4,199 | €3,209 | -€990 | -23.6% |
| Recurring financial charges | 65 | €4,199 | €3,209 | -€990 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €39,823 | €68,507 | +€28,684 | +72.0% |
| Income taxes | 67/77 | €8,055 | €13,749 | +€5,694 | +70.7% |
| Profit (loss) for the period | 9904 | €31,768 | €54,758 | +€22,990 | +72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €31,768 | €54,758 | +€22,990 | +72.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.