PBS: 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.
PBS
Largest movements
- Current investments +€105,192
new in 2025: €105,192
- Cash -€66,271
down €66,271 (-57.0%), from €116,330 to €50,059
mainly Current investments (-€105,192) and Other debts (-€21,201)
- Receivables within one year +€15,129
up €15,129 (+14.1%), from €107,076 to €122,204
of which Trade receivables: +€23,571
- Tangible fixed assets -€6,666
down €6,666 (-46.3%), from €14,411 to €7,745
of which Plant, machinery and equipment: -€4,667
- Reserves +€64,936
up €64,936 (+39.4%), from €164,997 to €229,932
of which Distributable reserves: +€64,936
- Other debts -€21,201
down €21,201 (-71.1%), from €29,802 to €8,601
- Tax, wage and social debts +€4,258
up €4,258 (+24.4%), from €17,480 to €21,738
of which Remuneration and social security: +€2,742
- Gross operating margin +€75,257
up €75,257 (+101%), from €74,497 to €149,754
- Taxes +€22,250
up €22,250 (+209%), from €10,641 to €32,890
- Staff costs +€19,741
up €19,741 (+73.6%), from €26,821 to €46,562
- Depreciation -€9,169
down €9,169 (-57.9%), from €15,835 to €6,666
- Financial income +€1,628
up €1,628 (+69.0%), from €2,360 to €3,988
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 | €238,310 | €287,533 | +€49,223 | +20.7% |
| Fixed assets | 21/28 | €14,411 | €7,745 | -€6,666 | -46.3% |
| Tangible fixed assets | 22/27 | €14,411 | €7,745 | -€6,666 | -46.3% |
| Land and buildings | 22 | €1,877 | €1,408 | -€469 | -25.0% |
| Plant, machinery and equipment | 23 | €9,327 | €4,660 | -€4,667 | -50.0% |
| Furniture and vehicles | 24 | €3,207 | €1,677 | -€1,530 | -47.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €223,899 | €279,788 | +€55,889 | +25.0% |
| Amounts receivable within one year | 40/41 | €107,076 | €122,204 | +€15,129 | +14.1% |
| Trade receivables | 40 | €17,134 | €40,704 | +€23,571 | +138% |
| Other amounts receivable | 41 | €89,942 | €81,500 | -€8,442 | -9.4% |
| Current investments | 50/53 | - | €105,192 | +€105,192 | |
| Cash at bank and in hand | 54/58 | €116,330 | €50,059 | -€66,271 | -57.0% |
| Deferred charges and accrued income | 490/1 | €493 | €2,333 | +€1,840 | +373% |
| Total equity and liabilities | 10/49 | €238,310 | €287,533 | +€49,223 | +20.7% |
| Equity | 10/15 | €183,597 | €248,532 | +€64,936 | +35.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €164,997 | €229,932 | +€64,936 | +39.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €163,137 | €228,072 | +€64,936 | +39.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €54,714 | €39,001 | -€15,713 | -28.7% |
| Amounts payable within one year | 42/48 | €54,714 | €39,001 | -€15,713 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €4,057 | €4,038 | -€18 | -0.5% |
| Trade debts | 44 | €3,374 | €4,623 | +€1,249 | +37.0% |
| Suppliers | 440/4 | €3,374 | €4,623 | +€1,249 | +37.0% |
| Taxes, remuneration and social security | 45 | €17,480 | €21,738 | +€4,258 | +24.4% |
| Taxes | 450/3 | €10,359 | €11,875 | +€1,516 | +14.6% |
| Remuneration and social security | 454/9 | €7,121 | €9,864 | +€2,742 | +38.5% |
| Other amounts payable | 47/48 | €29,802 | €8,601 | -€21,201 | -71.1% |
| Remuneration, social security and pensions | 62 | €26,821 | €46,562 | +€19,741 | +73.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,835 | €6,666 | -€9,169 | -57.9% |
| Other operating charges | 640/8 | €513 | €1,231 | +€718 | +140% |
| Gross operating margin | 9900 | €74,497 | €149,754 | +€75,257 | +101% |
| Operating profit (loss) | 9901 | €31,328 | €95,294 | +€63,967 | +204% |
| Financial income | 75/76B | €2,360 | €3,988 | +€1,628 | +69.0% |
| Recurring financial income | 75 | €2,360 | €3,988 | +€1,628 | +69.0% |
| Financial charges | 65/66B | €1,103 | €1,456 | +€353 | +32.0% |
| Recurring financial charges | 65 | €1,103 | €1,456 | +€353 | +32.0% |
| Profit (loss) for the period before taxes | 9903 | €32,584 | €97,826 | +€65,242 | +200% |
| Income taxes | 67/77 | €10,641 | €32,890 | +€22,250 | +209% |
| Profit (loss) for the period | 9904 | €21,943 | €64,936 | +€42,992 | +196% |
| Profit (loss) for the period to be appropriated | 9905 | €21,943 | €64,936 | +€42,992 | +196% |
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 17 October 2026 via checked.be.