PDP Projects: 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.
PDP Projects
Largest movements
- Cash +€34,045
up €34,045 (+79.4%), from €42,876 to €76,922
mainly Net result for the year (+€28,101) and Tax, wage and social debts (+€7,229)
- Deferred charges and accrued income -€3,925
down €3,925 (-82.1%), from €4,778 to €853
- Tangible fixed assets +€2,424
up €2,424 (+52.1%), from €4,656 to €7,080
of which Plant, machinery and equipment: +€3,998
- Receivables within one year +€1,252
up €1,252 (+4.8%), from €26,141 to €27,392
of which Trade receivables: +€2,823
- Profit (loss) carried forward +€28,101
up €28,101 (+60.4%), from €46,489 to €74,590
- Tax, wage and social debts +€7,229
up €7,229 (+125%), from €5,790 to €13,019
- Trade debts -€2,678
down €2,678 (-92.8%), from €2,886 to €207
- Gross operating margin +€16,256
up €16,256 (+68.6%), from €23,683 to €39,938
- Taxes +€3,391
up €3,391 (+71.9%), from €4,715 to €8,105
- Depreciation -€486
down €486 (-16.0%), from €3,038 to €2,552
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 | €78,451 | €112,247 | +€33,796 | +43.1% |
| Fixed assets | 21/28 | €4,656 | €7,080 | +€2,424 | +52.1% |
| Tangible fixed assets | 22/27 | €4,656 | €7,080 | +€2,424 | +52.1% |
| Plant, machinery and equipment | 23 | €1,206 | €5,204 | +€3,998 | +331% |
| Furniture and vehicles | 24 | €3,450 | €1,876 | -€1,574 | -45.6% |
| Current assets | 29/58 | €73,795 | €105,167 | +€31,372 | +42.5% |
| Amounts receivable within one year | 40/41 | €26,141 | €27,392 | +€1,252 | +4.8% |
| Trade receivables | 40 | €22,777 | €25,600 | +€2,823 | +12.4% |
| Other amounts receivable | 41 | €3,364 | €1,793 | -€1,571 | -46.7% |
| Cash at bank and in hand | 54/58 | €42,876 | €76,922 | +€34,045 | +79.4% |
| Deferred charges and accrued income | 490/1 | €4,778 | €853 | -€3,925 | -82.1% |
| Total equity and liabilities | 10/49 | €78,451 | €112,247 | +€33,796 | +43.1% |
| Equity | 10/15 | €67,989 | €96,090 | +€28,101 | +41.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,489 | €74,590 | +€28,101 | +60.4% |
| Amounts payable | 17/49 | €10,463 | €16,157 | +€5,695 | +54.4% |
| Amounts payable within one year | 42/48 | €10,463 | €16,157 | +€5,695 | +54.4% |
| Financial debts | 43 | - | €35 | +€35 | |
| Credit institutions | 430/8 | - | €35 | +€35 | |
| Trade debts | 44 | €2,886 | €207 | -€2,678 | -92.8% |
| Suppliers | 440/4 | €2,886 | €207 | -€2,678 | -92.8% |
| Taxes, remuneration and social security | 45 | €5,790 | €13,019 | +€7,229 | +125% |
| Taxes | 450/3 | €5,790 | €13,019 | +€7,229 | +125% |
| Other amounts payable | 47/48 | €1,787 | €2,896 | +€1,109 | +62.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,038 | €2,552 | -€486 | -16.0% |
| Other operating charges | 640/8 | €855 | €1,148 | +€294 | +34.4% |
| Gross operating margin | 9900 | €23,683 | €39,938 | +€16,256 | +68.6% |
| Operating profit (loss) | 9901 | €19,789 | €36,238 | +€16,449 | +83.1% |
| Financial income | 75/76B | €20 | €24 | +€4 | +19.8% |
| Recurring financial income | 75 | €20 | €24 | +€4 | +19.8% |
| Financial charges | 65/66B | €55 | €56 | +€0 | +0.9% |
| Recurring financial charges | 65 | €55 | €56 | +€0 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €19,754 | €36,206 | +€16,452 | +83.3% |
| Income taxes | 67/77 | €4,715 | €8,105 | +€3,391 | +71.9% |
| Profit (loss) for the period | 9904 | €15,040 | €28,101 | +€13,062 | +86.8% |
| Profit (loss) for the period to be appropriated | 9905 | €15,040 | €28,101 | +€13,062 | +86.8% |
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 15 October 2026 via checked.be.