PDV-MANAGEMENT: 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.
PDV-MANAGEMENT
Largest movements
- Current investments +€73,000
new in 2025: €73,000
- Cash +€16,986
up €16,986 (+16.3%), from €103,924 to €120,910
mainly Net result for the year (+€75,153) and Depreciation (+€10,067)
- Tangible fixed assets -€6,382
down €6,382 (-29.3%), from €21,818 to €15,436
of which Furniture and vehicles: -€9,511
- Receivables within one year -€3,123
down €3,123 (-3.9%), from €79,959 to €76,836
of which Trade receivables: -€1,920
- Reserves +€75,729
up €75,729 (+40.6%), from €186,541 to €262,270
- Tax, wage and social debts +€3,424
up €3,424 (+29.5%), from €11,593 to €15,017
of which Taxes: +€3,924
- Gross operating margin +€16,696
up €16,696 (+15.9%), from €104,678 to €121,374
- Taxes +€6,362
up €6,362 (+21.4%), from €29,797 to €36,159
- Financial income +€2,190
new in 2025: €2,190
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 | €213,967 | €294,321 | +€80,354 | +37.6% |
| Fixed assets | 21/28 | €21,818 | €15,436 | -€6,382 | -29.3% |
| Tangible fixed assets | 22/27 | €21,818 | €15,436 | -€6,382 | -29.3% |
| Plant, machinery and equipment | 23 | €390 | - | -€390 | |
| Furniture and vehicles | 24 | €21,428 | €11,917 | -€9,511 | -44.4% |
| Other tangible fixed assets | 26 | - | €3,519 | +€3,519 | |
| Current assets | 29/58 | €192,149 | €278,885 | +€86,736 | +45.1% |
| Stocks and contracts in progress | 3 | €7,257 | €8,139 | +€882 | +12.2% |
| Stocks | 30/36 | €7,257 | €8,139 | +€882 | +12.2% |
| Amounts receivable within one year | 40/41 | €79,959 | €76,836 | -€3,123 | -3.9% |
| Trade receivables | 40 | €78,756 | €76,836 | -€1,920 | -2.4% |
| Other amounts receivable | 41 | €1,203 | - | -€1,203 | |
| Current investments | 50/53 | - | €73,000 | +€73,000 | |
| Cash at bank and in hand | 54/58 | €103,924 | €120,910 | +€16,986 | +16.3% |
| Deferred charges and accrued income | 490/1 | €1,009 | - | -€1,009 | |
| Total equity and liabilities | 10/49 | €213,967 | €294,321 | +€80,354 | +37.6% |
| Equity | 10/15 | €199,670 | €274,823 | +€75,153 | +37.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €186,541 | €262,270 | +€75,729 | +40.6% |
| Distributable reserves | 133 | €186,541 | €262,270 | +€75,729 | +40.6% |
| Profit (loss) carried forward | 14 | €729 | €153 | -€576 | -79.0% |
| Amounts payable | 17/49 | €14,297 | €19,498 | +€5,201 | +36.4% |
| Amounts payable within one year | 42/48 | €14,297 | €19,498 | +€5,201 | +36.4% |
| Current portion of amounts payable after more than one year | 42 | €1,111 | - | -€1,111 | |
| Trade debts | 44 | €1,593 | €4,481 | +€2,888 | +181.3% |
| Suppliers | 440/4 | €1,593 | €4,481 | +€2,888 | +181.3% |
| Taxes, remuneration and social security | 45 | €11,593 | €15,017 | +€3,424 | +29.5% |
| Taxes | 450/3 | €8,593 | €12,517 | +€3,924 | +45.7% |
| Remuneration and social security | 454/9 | €3,000 | €2,500 | -€500 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,196 | €10,067 | -€129 | -1.3% |
| Other operating charges | 640/8 | €1,814 | €1,824 | +€10 | +0.6% |
| Gross operating margin | 9900 | €104,678 | €121,374 | +€16,696 | +15.9% |
| Operating profit (loss) | 9901 | €92,668 | €109,483 | +€16,815 | +18.1% |
| Financial income | 75/76B | - | €2,190 | +€2,190 | |
| Recurring financial income | 75 | - | €2,190 | +€2,190 | |
| Financial charges | 65/66B | €142 | €361 | +€219 | +154.2% |
| Recurring financial charges | 65 | €142 | €361 | +€219 | +154.2% |
| Profit (loss) for the period before taxes | 9903 | €92,526 | €111,312 | +€18,786 | +20.3% |
| Income taxes | 67/77 | €29,797 | €36,159 | +€6,362 | +21.4% |
| Profit (loss) for the period | 9904 | €62,729 | €75,153 | +€12,424 | +19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,729 | €75,153 | +€12,424 | +19.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.