PBX: 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.
PBX
Largest movements
- Receivables within one year +€38,632
up €38,632 (+163.0%), from €23,698 to €62,330
of which Other amounts receivable: +€37,956
- Cash -€10,453
down €10,453 (-18.4%), from €56,932 to €46,479
mainly Receivables within one year (-€38,632) and Investment in fixed assets (net) (-€2,215)
- Tangible fixed assets +€1,169
up €1,169 (+165.0%), from €708 to €1,877
- Profit (loss) carried forward +€29,540
up €29,540 (+45.5%), from €64,866 to €94,406
- Gross operating margin -€14,841
down €14,841 (-28.7%), from €51,769 to €36,929
- Taxes -€3,141
down €3,141 (-28.5%), from €11,004 to €7,863
- Financial income +€1,229
up €1,229 (+194.5%), from €632 to €1,861
- Depreciation +€690
up €690 (+193.6%), from €356 to €1,046
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 | €81,339 | €110,686 | +€29,348 | +36.1% |
| Fixed assets | 21/28 | €708 | €1,877 | +€1,169 | +165.0% |
| Tangible fixed assets | 22/27 | €708 | €1,877 | +€1,169 | +165.0% |
| Furniture and vehicles | 24 | €708 | €1,877 | +€1,169 | +165.0% |
| Current assets | 29/58 | €80,630 | €108,809 | +€28,179 | +34.9% |
| Amounts receivable within one year | 40/41 | €23,698 | €62,330 | +€38,632 | +163.0% |
| Trade receivables | 40 | €8,109 | €8,785 | +€675 | +8.3% |
| Other amounts receivable | 41 | €15,589 | €53,545 | +€37,956 | +243.5% |
| Cash at bank and in hand | 54/58 | €56,932 | €46,479 | -€10,453 | -18.4% |
| Total equity and liabilities | 10/49 | €81,339 | €110,686 | +€29,348 | +36.1% |
| Equity | 10/15 | €65,866 | €95,406 | +€29,540 | +44.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,866 | €94,406 | +€29,540 | +45.5% |
| Amounts payable | 17/49 | €15,473 | €15,281 | -€192 | -1.2% |
| Amounts payable within one year | 42/48 | €15,473 | €15,281 | -€192 | -1.2% |
| Trade debts | 44 | €226 | €36 | -€191 | -84.3% |
| Suppliers | 440/4 | €226 | €36 | -€191 | -84.3% |
| Taxes, remuneration and social security | 45 | €15,246 | €15,245 | -€1 | 0.0% |
| Taxes | 450/3 | €15,246 | €15,245 | -€1 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €356 | €1,046 | +€690 | +193.6% |
| Other operating charges | 640/8 | €510 | €178 | -€332 | -65.2% |
| Gross operating margin | 9900 | €51,769 | €36,929 | -€14,841 | -28.7% |
| Operating profit (loss) | 9901 | €50,903 | €35,705 | -€15,198 | -29.9% |
| Financial income | 75/76B | €632 | €1,861 | +€1,229 | +194.5% |
| Recurring financial income | 75 | €632 | €1,861 | +€1,229 | +194.5% |
| Financial charges | 65/66B | €47 | €163 | +€116 | +245.6% |
| Recurring financial charges | 65 | €47 | €163 | +€116 | +245.6% |
| Profit (loss) for the period before taxes | 9903 | €51,488 | €37,402 | -€14,085 | -27.4% |
| Income taxes | 67/77 | €11,004 | €7,863 | -€3,141 | -28.5% |
| Profit (loss) for the period | 9904 | €40,484 | €29,540 | -€10,944 | -27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,484 | €29,540 | -€10,944 | -27.0% |
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 28 September 2026 via checked.be.