PDV IMMO: 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.
PDV IMMO
Largest movements
- Cash +€38,532
up €38,532 (+27.0%), from €142,615 to €181,147
mainly Net result for the year (+€107,603) and Depreciation (+€100,645)
- Stocks and contracts +€33,344
up €33,344 (+17.6%), from €189,064 to €222,407
- Intangible fixed assets -€28,500
down €28,500 (-20.0%), from €142,500 to €114,000
- Tangible fixed assets -€28,281
down €28,281 (-3.7%), from €754,273 to €725,992
of which Plant, machinery and equipment: -€45,573
- Deferred charges and accrued income +€26,958
up €26,958 (+23.7%), from €113,618 to €140,576
- Reserves +€107,603
up €107,603 (+27.4%), from €392,317 to €499,920
- Debts after one year -€96,932
down €96,932 (-14.0%), from €691,079 to €594,148
- Trade debts +€56,490
up €56,490 (+51.6%), from €109,403 to €165,893
- Other operating charges +€32,813
up €32,813 (+1063.1%), from €3,086 to €35,899
- Gross operating margin +€15,447
up €15,447 (+2.9%), from €524,210 to €539,657
- Staff costs +€14,217
up €14,217 (+8.0%), from €178,103 to €192,319
- Financial charges -€11,285
down €11,285 (-16.1%), from €70,272 to €58,987
- Taxes -€5,624
down €5,624 (-11.1%), from €50,769 to €45,145
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 | €1,370,265 | €1,434,043 | +€63,778 | +4.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €896,848 | €840,067 | -€56,781 | -6.3% |
| Intangible fixed assets | 21 | €142,500 | €114,000 | -€28,500 | -20.0% |
| Tangible fixed assets | 22/27 | €754,273 | €725,992 | -€28,281 | -3.7% |
| Land and buildings | 22 | €377,296 | €366,205 | -€11,091 | -2.9% |
| Plant, machinery and equipment | 23 | €354,841 | €309,268 | -€45,573 | -12.8% |
| Furniture and vehicles | 24 | €22,136 | €50,519 | +€28,383 | +128.2% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €473,417 | €593,976 | +€120,559 | +25.5% |
| Stocks and contracts in progress | 3 | €189,064 | €222,407 | +€33,344 | +17.6% |
| Stocks | 30/36 | €189,064 | €222,407 | +€33,344 | +17.6% |
| Amounts receivable within one year | 40/41 | €28,120 | €49,845 | +€21,725 | +77.3% |
| Trade receivables | 40 | €16,388 | €48,582 | +€32,194 | +196.4% |
| Other amounts receivable | 41 | €11,732 | €1,264 | -€10,468 | -89.2% |
| Cash at bank and in hand | 54/58 | €142,615 | €181,147 | +€38,532 | +27.0% |
| Deferred charges and accrued income | 490/1 | €113,618 | €140,576 | +€26,958 | +23.7% |
| Total equity and liabilities | 10/49 | €1,370,265 | €1,434,043 | +€63,778 | +4.7% |
| Equity | 10/15 | €404,717 | €512,320 | +€107,603 | +26.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €392,317 | €499,920 | +€107,603 | +27.4% |
| Distributable reserves | 133 | €392,317 | €499,920 | +€107,603 | +27.4% |
| Amounts payable | 17/49 | €965,547 | €921,723 | -€43,824 | -4.5% |
| Amounts payable after more than one year | 17 | €691,079 | €594,148 | -€96,932 | -14.0% |
| Financial debts | 170/4 | €691,079 | €594,148 | -€96,932 | -14.0% |
| Amounts payable within one year | 42/48 | €273,772 | €323,598 | +€49,826 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €100,848 | €102,782 | +€1,934 | +1.9% |
| Trade debts | 44 | €109,403 | €165,893 | +€56,490 | +51.6% |
| Suppliers | 440/4 | €109,403 | €165,893 | +€56,490 | +51.6% |
| Advances received on contracts in progress | 46 | - | €67 | +€67 | |
| Taxes, remuneration and social security | 45 | €63,521 | €53,569 | -€9,952 | -15.7% |
| Taxes | 450/3 | €30,535 | €27,432 | -€3,103 | -10.2% |
| Remuneration and social security | 454/9 | €32,986 | €26,137 | -€6,848 | -20.8% |
| Other amounts payable | 47/48 | - | €1,287 | +€1,287 | |
| Accrued charges and deferred income | 492/3 | €696 | €3,978 | +€3,282 | +471.4% |
| Remuneration, social security and pensions | 62 | €178,103 | €192,319 | +€14,217 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,554 | €100,645 | -€3,909 | -3.7% |
| Other operating charges | 640/8 | €3,086 | €35,899 | +€32,813 | +1063.1% |
| Gross operating margin | 9900 | €524,210 | €539,657 | +€15,447 | +2.9% |
| Operating profit (loss) | 9901 | €238,467 | €210,793 | -€27,674 | -11.6% |
| Financial income | 75/76B | €1,200 | €942 | -€258 | -21.5% |
| Recurring financial income | 75 | €1,200 | €942 | -€258 | -21.5% |
| Financial charges | 65/66B | €70,272 | €58,987 | -€11,285 | -16.1% |
| Recurring financial charges | 65 | €70,272 | €58,987 | -€11,285 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €169,394 | €152,748 | -€16,647 | -9.8% |
| Income taxes | 67/77 | €50,769 | €45,145 | -€5,624 | -11.1% |
| Profit (loss) for the period | 9904 | €118,626 | €107,603 | -€11,023 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €118,626 | €107,603 | -€11,023 | -9.3% |
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.