PEFA: 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.
PEFA
Largest movements
- Cash +€32,685
up €32,685 (+66.7%), from €49,009 to €81,695
mainly Net result for the year (+€49,669) and Other debts (+€43,669)
- Tangible fixed assets -€13,383
down €13,383 (-45.3%), from €29,552 to €16,169
of which Furniture and vehicles: -€12,959
- Receivables within one year +€4,946
up €4,946 (+58.6%), from €8,440 to €13,386
of which Trade receivables: +€6,530
- Other debts +€43,669
up €43,669 (+95.2%), from €45,871 to €89,540
- Current portion of long-term debt -€10,895
down €10,895 (-74.7%), from €14,583 to €3,688
- Short-term financial debts -€6,358
no longer reported in 2025 (was €6,358)
- Debts after one year -€3,688
no longer reported in 2025 (was €3,688)
- Financial charges +€2,097
up €2,097 (+332%), from €632 to €2,729
- Gross operating margin +€870
up €870 (+1.1%), from €76,780 to €77,650
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 | €187,001 | €211,249 | +€24,248 | +13.0% |
| Fixed assets | 21/28 | €29,552 | €16,169 | -€13,383 | -45.3% |
| Tangible fixed assets | 22/27 | €29,552 | €16,169 | -€13,383 | -45.3% |
| Plant, machinery and equipment | 23 | €936 | €512 | -€424 | -45.3% |
| Furniture and vehicles | 24 | €28,616 | €15,657 | -€12,959 | -45.3% |
| Current assets | 29/58 | €157,449 | €195,080 | +€37,631 | +23.9% |
| Amounts receivable within one year | 40/41 | €8,440 | €13,386 | +€4,946 | +58.6% |
| Trade receivables | 40 | - | €6,530 | +€6,530 | |
| Other amounts receivable | 41 | €8,440 | €6,855 | -€1,585 | -18.8% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €49,009 | €81,695 | +€32,685 | +66.7% |
| Total equity and liabilities | 10/49 | €187,001 | €211,249 | +€24,248 | +13.0% |
| Equity | 10/15 | €108,618 | €108,618 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Contributions outside capital | 11 | €3,000 | €3,000 | = | 0.0% |
| Other | 1109/19 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €105,618 | €105,618 | = | 0.0% |
| Distributable reserves | 133 | €105,618 | €105,618 | = | 0.0% |
| Amounts payable | 17/49 | €78,383 | €102,630 | +€24,248 | +30.9% |
| Amounts payable after more than one year | 17 | €3,688 | - | -€3,688 | |
| Financial debts | 170/4 | €3,688 | - | -€3,688 | |
| Amounts payable within one year | 42/48 | €74,694 | €101,296 | +€26,602 | +35.6% |
| Current portion of amounts payable after more than one year | 42 | €14,583 | €3,688 | -€10,895 | -74.7% |
| Financial debts | 43 | €6,358 | - | -€6,358 | |
| Credit institutions | 430/8 | €6,358 | - | -€6,358 | |
| Trade debts | 44 | €195 | - | -€195 | |
| Suppliers | 440/4 | €195 | - | -€195 | |
| Taxes, remuneration and social security | 45 | €7,687 | €8,068 | +€380 | +4.9% |
| Taxes | 450/3 | €7,687 | €8,068 | +€380 | +4.9% |
| Other amounts payable | 47/48 | €45,871 | €89,540 | +€43,669 | +95.2% |
| Accrued charges and deferred income | 492/3 | - | €1,334 | +€1,334 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,383 | €13,383 | = | 0.0% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €76,780 | €77,650 | +€870 | +1.1% |
| Operating profit (loss) | 9901 | €63,271 | €64,138 | +€868 | +1.4% |
| Financial income | 75/76B | €1,007 | €1,405 | +€398 | +39.5% |
| Recurring financial income | 75 | €1,007 | €1,405 | +€398 | +39.5% |
| Financial charges | 65/66B | €632 | €2,729 | +€2,097 | +332% |
| Recurring financial charges | 65 | €632 | €2,729 | +€2,097 | +332% |
| Profit (loss) for the period before taxes | 9903 | €63,646 | €62,814 | -€832 | -1.3% |
| Income taxes | 67/77 | €13,276 | €13,145 | -€131 | -1.0% |
| Profit (loss) for the period | 9904 | €50,371 | €49,669 | -€701 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €50,371 | €49,669 | -€701 | -1.4% |
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 17 October 2026 via checked.be.