PDV INVEST: 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.
What changed
PDV INVEST
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €1.9m-€443,114
Equity
€17.6m
2024 · €16.2m+€1.4m
Cash
€132,466
2024 · €63,227+€69,239
Balance sheet total
€25.0m
2024 · €23.3m+€1.7m
Largest movements
Assets
- Tangible fixed assets +€1.7m
up €1.7m (+94.8%), from €1.8m to €3.5m
of which Land and buildings: +€1.7m
Equity and liabilities
- Reserves +€1.4m
up €1.4m (+9.0%), from €16.1m to €17.5m
of which Distributable reserves: +€1.4m
- Debts after one year +€470,842
up €470,842 (+8.8%), from €5.3m to €5.8m
- Trade debts -€317,542
down €317,542 (-87.7%), from €362,209 to €44,666
Income statement
- Financial income -€350,686
down €350,686 (-17.5%), from €2.0m to €1.6m
- Other operating charges +€215,255
up €215,255 (+5,276%), from €4,080 to €219,335
- Services and other goods -€130,979
down €130,979 (-62.2%), from €210,461 to €79,482
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.
Result 2024
€1.9m
Other operating income
+€7,832
Goods and materials
+€1,856
Services and other goods
+€130,979
Staff costs
-€6,764
Depreciation
-€4,755
Provisions
-€14,569
Other operating charges
-€215,255
Other operating items
-€1,492
Financial income
-€350,686
Financial charges
+€7,952
Taxes
+€1,789
Result 2025
€1.4m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.2m
Investment
-€1.7m
Financing
+€634,038
Cash 2024
€63,227
From operations (derived)
+€1.2m
Net result for the year
+€1.4m
Depreciation
+€128,360
Receivables within one year
-€16,375
Smaller working-capital items
-€3,984
Trade debts
-€317,542
Tax, wage and social debts
-€55,144
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
+€634,038
Debts after one year
+€470,842
Current portion of long-term debt
+€163,196
Cash 2025
€132,466
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,303,916 | €25,012,172 | +€1.7m | +7.3% |
| Fixed assets | 21/28 | €21,437,558 | €23,057,949 | +€1.6m | +7.6% |
| Intangible fixed assets | 21 | €415,938 | €311,954 | -€103,985 | -25.0% |
| Tangible fixed assets | 22/27 | €1,820,690 | €3,546,315 | +€1.7m | +94.8% |
| Land and buildings | 22 | €1,755,492 | €3,498,487 | +€1.7m | +99.3% |
| Furniture and vehicles | 24 | €65,198 | €47,828 | -€17,370 | -26.6% |
| Financial fixed assets | 28 | €19,200,930 | €19,199,680 | -€1,250 | 0.0% |
| Affiliated companies | 280/1 | €19,199,680 | €19,199,680 | = | 0.0% |
| Participating interests | 280 | €19,199,680 | €19,199,680 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,250 | €0 | -€1,250 | -100% |
| Amounts receivable and cash guarantees | 285/8 | €1,250 | €0 | -€1,250 | -100% |
| Current assets | 29/58 | €1,866,358 | €1,954,223 | +€87,866 | +4.7% |
| Amounts receivable after more than one year | 29 | €1,000,000 | €1,000,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,000,000 | €1,000,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €591,785 | €591,785 | = | 0.0% |
| Stocks | 30/36 | €591,785 | €591,785 | = | 0.0% |
| Property held for sale | 35 | €591,785 | €591,785 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €205,000 | €221,375 | +€16,375 | +8.0% |
| Other amounts receivable | 41 | €205,000 | €221,375 | +€16,375 | +8.0% |
| Cash at bank and in hand | 54/58 | €63,227 | €132,466 | +€69,239 | +110% |
| Deferred charges and accrued income | 490/1 | €6,346 | €8,597 | +€2,251 | +35.5% |
| Total equity and liabilities | 10/49 | €23,303,916 | €25,012,172 | +€1.7m | +7.3% |
| Equity | 10/15 | €16,174,356 | €17,622,993 | +€1.4m | +9.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €16,074,356 | €17,522,993 | +€1.4m | +9.0% |
| Tax-exempt reserves | 132 | €30,534 | €30,534 | = | 0.0% |
| Distributable reserves | 133 | €16,043,822 | €17,492,459 | +€1.4m | +9.0% |
| Provisions and deferred taxes | 16 | €158,730 | €157,035 | -€1,695 | -1.1% |
| Provisions for liabilities and charges | 160/5 | €158,730 | €157,035 | -€1,695 | -1.1% |
| Environmental obligations | 163 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €158,730 | €157,035 | -€1,695 | -1.1% |
| Amounts payable | 17/49 | €6,970,830 | €7,232,144 | +€261,314 | +3.7% |
| Amounts payable after more than one year | 17 | €5,345,611 | €5,816,453 | +€470,842 | +8.8% |
| Financial debts | 170/4 | €5,345,611 | €5,816,453 | +€470,842 | +8.8% |
| Subordinated loans | 170 | €720,000 | €720,000 | = | 0.0% |
| Credit institutions | 173 | €4,587,811 | €5,058,653 | +€470,842 | +10.3% |
| Other loans | 174 | €37,800 | €37,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,624,056 | €1,414,566 | -€209,491 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €1,086,796 | €1,249,992 | +€163,196 | +15.0% |
| Trade debts | 44 | €362,209 | €44,666 | -€317,542 | -87.7% |
| Suppliers | 440/4 | €362,209 | €44,666 | -€317,542 | -87.7% |
| Taxes, remuneration and social security | 45 | €96,675 | €41,531 | -€55,144 | -57.0% |
| Taxes | 450/3 | €18,456 | €746 | -€17,710 | -96.0% |
| Remuneration and social security | 454/9 | €78,219 | €40,784 | -€37,435 | -47.9% |
| Other amounts payable | 47/48 | €78,377 | €78,377 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,163 | €1,125 | -€38 | -3.2% |
| Operating income | 70/76A | €1,772,608 | €1,778,948 | +€6,340 | +0.4% |
| Turnover | 70 | €1,760,000 | €1,760,000 | = | 0.0% |
| Other operating income | 74 | €11,116 | €18,948 | +€7,832 | +70.5% |
| Non-recurring operating income | 76A | €1,492 | €0 | -€1,492 | -100% |
| Operating charges | 60/66A | €1,640,300 | €1,748,808 | +€108,508 | +6.6% |
| Goods for resale, raw materials and consumables | 60 | €950,095 | €948,239 | -€1,856 | -0.2% |
| Purchases | 600/8 | €950,095 | €948,239 | -€1,856 | -0.2% |
| Change in stocks: decrease (increase) | 609 | €0 | - | = | |
| Services and other goods | 61 | €210,461 | €79,482 | -€130,979 | -62.2% |
| Remuneration, social security and pensions | 62 | €368,324 | €375,087 | +€6,764 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,605 | €128,360 | +€4,755 | +3.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€16,264 | -€1,695 | +€14,569 | +89.6% |
| Other operating charges | 640/8 | €4,080 | €219,335 | +€215,255 | +5,276% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €132,308 | €30,140 | -€102,169 | -77.2% |
| Financial income | 75/76B | €1,999,037 | €1,648,350 | -€350,686 | -17.5% |
| Recurring financial income | 75 | €1,999,037 | €1,648,350 | -€350,686 | -17.5% |
| Income from financial fixed assets | 750 | €1,998,999 | €1,648,350 | -€350,649 | -17.5% |
| Other financial income | 752/9 | €38 | €0 | -€37 | -99.8% |
| Financial charges | 65/66B | €237,058 | €229,106 | -€7,952 | -3.4% |
| Recurring financial charges | 65 | €237,058 | €229,106 | -€7,952 | -3.4% |
| Debt charges | 650 | €233,632 | €225,114 | -€8,518 | -3.6% |
| Other financial charges | 652/9 | €3,426 | €3,992 | +€567 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €1,894,287 | €1,449,384 | -€444,903 | -23.5% |
| Income taxes | 67/77 | €2,536 | €746 | -€1,789 | -70.6% |
| Taxes | 670/3 | €2,536 | €746 | -€1,789 | -70.6% |
| Profit (loss) for the period | 9904 | €1,891,752 | €1,448,637 | -€443,114 | -23.4% |
| Transfer to tax-exempt reserves | 689 | €30,534 | €0 | -€30,534 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €1,861,218 | €1,448,637 | -€412,580 | -22.2% |
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 30 October 2026 via checked.be.