PF CONCEPT: 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.
PF CONCEPT
Largest movements
- Receivables within one year +€104,947
up €104,947 (+328.0%), from €31,992 to €136,939
of which Trade receivables: +€107,899
- Cash -€100,872
down €100,872 (-67.9%), from €148,599 to €47,727
mainly Receivables within one year (-€104,947) and Other debts (-€69,141)
- Deferred charges and accrued income -€6,120
down €6,120 (-51.9%), from €11,803 to €5,683
- Tangible fixed assets -€3,383
down €3,383 (-36.5%), from €9,258 to €5,875
- Other debts -€69,141
down €69,141 (-90.2%), from €76,619 to €7,478
- Profit (loss) carried forward +€36,810
up €36,810 (+39.3%), from €93,584 to €130,394
- Trade debts +€27,162
up €27,162 (+149.8%), from €18,131 to €45,293
- Debts after one year -€3,142
down €3,142 (-48.7%), from €6,448 to €3,306
- Tax, wage and social debts +€2,854
up €2,854 (+519.0%), from €550 to €3,404
- Gross operating margin -€48,743
down €48,743 (-45.9%), from €106,206 to €57,463
- Taxes -€7,554
down €7,554 (-37.4%), from €20,175 to €12,621
- Other operating charges +€1,504
up €1,504 (+1055.0%), from €143 to €1,647
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 | €201,651 | €196,224 | -€5,428 | -2.7% |
| Fixed assets | 21/28 | €9,258 | €5,875 | -€3,383 | -36.5% |
| Tangible fixed assets | 22/27 | €9,258 | €5,875 | -€3,383 | -36.5% |
| Furniture and vehicles | 24 | €9,258 | €5,875 | -€3,383 | -36.5% |
| Current assets | 29/58 | €192,393 | €190,349 | -€2,044 | -1.1% |
| Amounts receivable within one year | 40/41 | €31,992 | €136,939 | +€104,947 | +328.0% |
| Trade receivables | 40 | €22,836 | €130,735 | +€107,899 | +472.5% |
| Other amounts receivable | 41 | €9,156 | €6,204 | -€2,951 | -32.2% |
| Cash at bank and in hand | 54/58 | €148,599 | €47,727 | -€100,872 | -67.9% |
| Deferred charges and accrued income | 490/1 | €11,803 | €5,683 | -€6,120 | -51.9% |
| Total equity and liabilities | 10/49 | €201,651 | €196,224 | -€5,428 | -2.7% |
| Equity | 10/15 | €95,084 | €131,894 | +€36,810 | +38.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,584 | €130,394 | +€36,810 | +39.3% |
| Amounts payable | 17/49 | €106,567 | €64,329 | -€42,238 | -39.6% |
| Amounts payable after more than one year | 17 | €6,448 | €3,306 | -€3,142 | -48.7% |
| Financial debts | 170/4 | €6,448 | €3,306 | -€3,142 | -48.7% |
| Amounts payable within one year | 42/48 | €98,319 | €59,317 | -€39,002 | -39.7% |
| Current portion of amounts payable after more than one year | 42 | €3,018 | €3,142 | +€123 | +4.1% |
| Trade debts | 44 | €18,131 | €45,293 | +€27,162 | +149.8% |
| Suppliers | 440/4 | €18,131 | €45,293 | +€27,162 | +149.8% |
| Taxes, remuneration and social security | 45 | €550 | €3,404 | +€2,854 | +519.0% |
| Taxes | 450/3 | €550 | €3,404 | +€2,854 | +519.0% |
| Other amounts payable | 47/48 | €76,619 | €7,478 | -€69,141 | -90.2% |
| Accrued charges and deferred income | 492/3 | €1,800 | €1,706 | -€94 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,424 | €5,055 | +€631 | +14.3% |
| Other operating charges | 640/8 | €143 | €1,647 | +€1,504 | +1055.0% |
| Gross operating margin | 9900 | €106,206 | €57,463 | -€48,743 | -45.9% |
| Operating profit (loss) | 9901 | €101,640 | €50,761 | -€50,879 | -50.1% |
| Financial income | 75/76B | €147 | €152 | +€5 | +3.5% |
| Recurring financial income | 75 | €147 | €152 | +€5 | +3.5% |
| Financial charges | 65/66B | €1,368 | €1,483 | +€115 | +8.4% |
| Recurring financial charges | 65 | €1,368 | €1,483 | +€115 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €100,419 | €49,431 | -€50,989 | -50.8% |
| Income taxes | 67/77 | €20,175 | €12,621 | -€7,554 | -37.4% |
| Profit (loss) for the period | 9904 | €80,244 | €36,810 | -€43,434 | -54.1% |
| Profit (loss) for the period to be appropriated | 9905 | €80,244 | €36,810 | -€43,434 | -54.1% |
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 10 October 2026 via checked.be.