PBuedts: 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.
PBuedts
Largest movements
- Cash +€60,779
up €60,779 (+210%), from €28,889 to €89,668
mainly Receivables within one year (+€44,835) and Depreciation (+€36,157)
- Receivables within one year -€44,835
down €44,835 (-38.9%), from €115,297 to €70,462
of which Trade receivables: -€32,462
- Tangible fixed assets -€23,270
down €23,270 (-16.2%), from €144,049 to €120,779
of which Furniture and vehicles: -€20,484
- Stocks and contracts +€9,404
up €9,404 (+37.9%), from €24,815 to €34,218
- Tax, wage and social debts -€12,258
no longer reported in 2025 (was €12,258)
- Reserves +€8,721
up €8,721 (+2.4%), from €359,353 to €368,074
- Other debts +€6,557
up €6,557 (+11.1%), from €59,227 to €65,783
- Financial income -€25,321
down €25,321 (-99.2%), from €25,522 to €201
- Depreciation +€23,053
up €23,053 (+176%), from €13,104 to €36,157
- Taxes -€13,033
down €13,033 (-92.6%), from €14,072 to €1,039
- Gross operating margin +€5,971
up €5,971 (+11.3%), from €52,928 to €58,900
- Other operating charges +€4,938
up €4,938 (+88.5%), from €5,581 to €10,519
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 | €481,329 | €484,281 | +€2,951 | +0.6% |
| Fixed assets | 21/28 | €309,311 | €286,042 | -€23,270 | -7.5% |
| Tangible fixed assets | 22/27 | €144,049 | €120,779 | -€23,270 | -16.2% |
| Plant, machinery and equipment | 23 | €3,789 | €1,003 | -€2,786 | -73.5% |
| Furniture and vehicles | 24 | €140,260 | €119,776 | -€20,484 | -14.6% |
| Financial fixed assets | 28 | €165,262 | €165,262 | = | 0.0% |
| Current assets | 29/58 | €172,018 | €198,239 | +€26,221 | +15.2% |
| Stocks and contracts in progress | 3 | €24,815 | €34,218 | +€9,404 | +37.9% |
| Stocks | 30/36 | €24,815 | €34,218 | +€9,404 | +37.9% |
| Amounts receivable within one year | 40/41 | €115,297 | €70,462 | -€44,835 | -38.9% |
| Trade receivables | 40 | €86,715 | €54,252 | -€32,462 | -37.4% |
| Other amounts receivable | 41 | €28,582 | €16,209 | -€12,373 | -43.3% |
| Cash at bank and in hand | 54/58 | €28,889 | €89,668 | +€60,779 | +210% |
| Deferred charges and accrued income | 490/1 | €3,017 | €3,891 | +€874 | +29.0% |
| Total equity and liabilities | 10/49 | €481,329 | €484,281 | +€2,951 | +0.6% |
| Equity | 10/15 | €377,945 | €386,666 | +€8,721 | +2.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €359,353 | €368,074 | +€8,721 | +2.4% |
| Distributable reserves | 133 | €359,353 | €368,074 | +€8,721 | +2.4% |
| Amounts payable | 17/49 | €103,384 | €97,614 | -€5,770 | -5.6% |
| Amounts payable after more than one year | 17 | €30,000 | €30,000 | = | 0.0% |
| Other amounts payable | 178/9 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €73,218 | €66,512 | -€6,705 | -9.2% |
| Trade debts | 44 | €1,733 | €729 | -€1,005 | -58.0% |
| Suppliers | 440/4 | €1,733 | €729 | -€1,005 | -58.0% |
| Taxes, remuneration and social security | 45 | €12,258 | - | -€12,258 | |
| Taxes | 450/3 | €12,258 | - | -€12,258 | |
| Other amounts payable | 47/48 | €59,227 | €65,783 | +€6,557 | +11.1% |
| Accrued charges and deferred income | 492/3 | €167 | €1,102 | +€936 | +562% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,104 | €36,157 | +€23,053 | +176% |
| Other operating charges | 640/8 | €5,581 | €10,519 | +€4,938 | +88.5% |
| Gross operating margin | 9900 | €52,928 | €58,900 | +€5,971 | +11.3% |
| Operating profit (loss) | 9901 | €34,244 | €12,224 | -€22,020 | -64.3% |
| Financial income | 75/76B | €25,522 | €201 | -€25,321 | -99.2% |
| Recurring financial income | 75 | €25,522 | €201 | -€25,321 | -99.2% |
| Financial charges | 65/66B | €269 | €1,000 | +€730 | +271% |
| Recurring financial charges | 65 | €269 | €1,000 | +€730 | +271% |
| Profit (loss) for the period before taxes | 9903 | €59,497 | €11,426 | -€48,071 | -80.8% |
| Income taxes | 67/77 | €14,072 | €1,039 | -€13,033 | -92.6% |
| Profit (loss) for the period | 9904 | €45,425 | €10,387 | -€35,038 | -77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,425 | €10,387 | -€35,038 | -77.1% |
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 27 October 2026 via checked.be.