PDP: 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.
PDP
Largest movements
- Cash -€192,041
down €192,041 (-88.8%), from €216,160 to €24,119
mainly Investment in fixed assets (net) (-€219,179) and Trade debts (-€212,765)
- Tangible fixed assets +€190,018
up €190,018 (+65.6%), from €289,516 to €479,534
of which Land and buildings: +€109,061
- Receivables within one year -€180,630
down €180,630 (-67.1%), from €269,063 to €88,433
of which Trade receivables: -€162,282
- Trade debts -€212,765
down €212,765 (-92.5%), from €229,962 to €17,198
- Debts after one year +€38,775
up €38,775 (+11.8%), from €327,524 to €366,299
- Profit (loss) carried forward -€15,330
down €15,330 (-15.3%), from €100,367 to €85,036
- Current portion of long-term debt +€13,853
up €13,853 (+89.6%), from €15,457 to €29,311
- Gross operating margin -€168,857
down €168,857 (-86.7%), from €194,694 to €25,837
- Other operating charges -€35,212
down €35,212 (-93.2%), from €37,764 to €2,551
- Taxes -€28,620
down €28,620 (-97.6%), from €29,310 to €690
- Depreciation +€10,138
up €10,138 (+53.3%), from €19,023 to €29,161
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 | €779,339 | €596,686 | -€182,653 | -23.4% |
| Fixed assets | 21/28 | €289,516 | €479,534 | +€190,018 | +65.6% |
| Tangible fixed assets | 22/27 | €289,516 | €479,534 | +€190,018 | +65.6% |
| Land and buildings | 22 | €265,771 | €374,832 | +€109,061 | +41.0% |
| Plant, machinery and equipment | 23 | €6,670 | €15,666 | +€8,997 | +134.9% |
| Furniture and vehicles | 24 | €17,076 | €89,036 | +€71,960 | +421.4% |
| Current assets | 29/58 | €489,823 | €117,152 | -€372,671 | -76.1% |
| Stocks and contracts in progress | 3 | €4,600 | €4,600 | = | 0.0% |
| Stocks | 30/36 | €4,600 | €4,600 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €269,063 | €88,433 | -€180,630 | -67.1% |
| Trade receivables | 40 | €228,561 | €66,279 | -€162,282 | -71.0% |
| Other amounts receivable | 41 | €40,502 | €22,154 | -€18,348 | -45.3% |
| Cash at bank and in hand | 54/58 | €216,160 | €24,119 | -€192,041 | -88.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €779,339 | €596,686 | -€182,653 | -23.4% |
| Equity | 10/15 | €179,585 | €164,255 | -€15,330 | -8.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €69,219 | €69,219 | = | 0.0% |
| Distributable reserves | 133 | €69,219 | €69,219 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,367 | €85,036 | -€15,330 | -15.3% |
| Amounts payable | 17/49 | €599,754 | €432,431 | -€167,323 | -27.9% |
| Amounts payable after more than one year | 17 | €327,524 | €366,299 | +€38,775 | +11.8% |
| Financial debts | 170/4 | €327,524 | €366,299 | +€38,775 | +11.8% |
| Amounts payable within one year | 42/48 | €269,796 | €66,132 | -€203,664 | -75.5% |
| Current portion of amounts payable after more than one year | 42 | €15,457 | €29,311 | +€13,853 | +89.6% |
| Trade debts | 44 | €229,962 | €17,198 | -€212,765 | -92.5% |
| Suppliers | 440/4 | €229,962 | €17,198 | -€212,765 | -92.5% |
| Taxes, remuneration and social security | 45 | €8,414 | €2,365 | -€6,049 | -71.9% |
| Taxes | 450/3 | €6,072 | €0 | -€6,072 | -100.0% |
| Remuneration and social security | 454/9 | €2,342 | €2,365 | +€23 | +1.0% |
| Other amounts payable | 47/48 | €15,963 | €17,259 | +€1,296 | +8.1% |
| Accrued charges and deferred income | 492/3 | €2,434 | €0 | -€2,434 | -100.0% |
| Remuneration, social security and pensions | 62 | €250 | €0 | -€250 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,023 | €29,161 | +€10,138 | +53.3% |
| Other operating charges | 640/8 | €37,764 | €2,551 | -€35,212 | -93.2% |
| Gross operating margin | 9900 | €194,694 | €25,837 | -€168,857 | -86.7% |
| Operating profit (loss) | 9901 | €137,658 | -€5,875 | -€143,533 | |
| Financial income | 75/76B | €161 | €65 | -€96 | -59.7% |
| Recurring financial income | 75 | €161 | €65 | -€96 | -59.7% |
| Financial charges | 65/66B | €8,142 | €8,829 | +€687 | +8.4% |
| Recurring financial charges | 65 | €8,142 | €8,829 | +€687 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €129,677 | -€14,640 | -€144,316 | |
| Income taxes | 67/77 | €29,310 | €690 | -€28,620 | -97.6% |
| Profit (loss) for the period | 9904 | €100,367 | -€15,330 | -€115,697 | |
| Profit (loss) for the period to be appropriated | 9905 | €100,367 | -€15,330 | -€115,697 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.