PDLC: 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.
PDLC
Largest movements
- Current investments +€57,000
new in 2025: €57,000
- Cash -€21,074
down €21,074 (-77.7%), from €27,129 to €6,055
mainly Current investments (-€57,000) and Contributions, distributions and other (-€3,013)
- Receivables within one year -€11,210
down €11,210 (-42.7%), from €26,245 to €15,034
of which Trade receivables: -€10,094
- Stocks and contracts +€941
up €941 (+79.6%), from €1,182 to €2,123
- Tax, wage and social debts +€11,331
up €11,331 (+203.2%), from €5,577 to €16,908
- Reserves +€11,072
up €11,072 (+50.0%), from €22,160 to €33,232
of which Distributable reserves: +€11,311
- Other debts +€2,213
up €2,213 (+276.7%), from €800 to €3,013
- Gross operating margin -€7,718
down €7,718 (-23.8%), from €32,373 to €24,655
- Taxes -€1,934
down €1,934 (-20.0%), from €9,660 to €7,726
- Other operating charges -€624
down €624 (-29.0%), from €2,152 to €1,528
- Financial charges -€367
down €367 (-20.8%), from €1,769 to €1,402
- Financial income -€351
down €351 (-34.3%), from €1,023 to €672
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 | €58,068 | €82,325 | +€24,257 | +41.8% |
| Fixed assets | 21/28 | €673 | €88 | -€586 | -87.0% |
| Tangible fixed assets | 22/27 | €673 | €88 | -€586 | -87.0% |
| Plant, machinery and equipment | 23 | €221 | €24 | -€197 | -89.1% |
| Furniture and vehicles | 24 | €452 | €63 | -€388 | -85.9% |
| Current assets | 29/58 | €57,394 | €82,238 | +€24,843 | +43.3% |
| Stocks and contracts in progress | 3 | €1,182 | €2,123 | +€941 | +79.6% |
| Stocks | 30/36 | €1,182 | €2,123 | +€941 | +79.6% |
| Amounts receivable within one year | 40/41 | €26,245 | €15,034 | -€11,210 | -42.7% |
| Trade receivables | 40 | €14,074 | €3,980 | -€10,094 | -71.7% |
| Other amounts receivable | 41 | €12,171 | €11,054 | -€1,117 | -9.2% |
| Current investments | 50/53 | - | €57,000 | +€57,000 | |
| Cash at bank and in hand | 54/58 | €27,129 | €6,055 | -€21,074 | -77.7% |
| Deferred charges and accrued income | 490/1 | €2,838 | €2,025 | -€813 | -28.7% |
| Total equity and liabilities | 10/49 | €58,068 | €82,325 | +€24,257 | +41.8% |
| Equity | 10/15 | €34,560 | €45,632 | +€11,072 | +32.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €22,160 | €33,232 | +€11,072 | +50.0% |
| Non-distributable reserves | 130/1 | €239 | - | -€239 | |
| Reserves not available under the articles | 1311 | €239 | - | -€239 | |
| Distributable reserves | 133 | €21,921 | €33,232 | +€11,311 | +51.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €23,508 | €36,693 | +€13,185 | +56.1% |
| Amounts payable within one year | 42/48 | €23,508 | €36,693 | +€13,185 | +56.1% |
| Trade debts | 44 | €17,131 | €16,772 | -€359 | -2.1% |
| Suppliers | 440/4 | €17,131 | €16,772 | -€359 | -2.1% |
| Taxes, remuneration and social security | 45 | €5,577 | €16,908 | +€11,331 | +203.2% |
| Taxes | 450/3 | €5,577 | €16,908 | +€11,331 | +203.2% |
| Other amounts payable | 47/48 | €800 | €3,013 | +€2,213 | +276.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €740 | €518 | -€223 | -30.1% |
| Other operating charges | 640/8 | €2,152 | €1,528 | -€624 | -29.0% |
| Non-recurring operating charges | 66A | - | €68 | +€68 | |
| Gross operating margin | 9900 | €32,373 | €24,655 | -€7,718 | -23.8% |
| Operating profit (loss) | 9901 | €29,481 | €22,542 | -€6,939 | -23.5% |
| Financial income | 75/76B | €1,023 | €672 | -€351 | -34.3% |
| Recurring financial income | 75 | €1,023 | €672 | -€351 | -34.3% |
| Financial charges | 65/66B | €1,769 | €1,402 | -€367 | -20.8% |
| Recurring financial charges | 65 | €1,769 | €1,402 | -€367 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €28,735 | €21,812 | -€6,923 | -24.1% |
| Income taxes | 67/77 | €9,660 | €7,726 | -€1,934 | -20.0% |
| Profit (loss) for the period | 9904 | €19,075 | €14,085 | -€4,989 | -26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,075 | €14,085 | -€4,989 | -26.2% |
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 11 October 2026 via checked.be.