PF CONSULT: 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 CONSULT
Largest movements
- Receivables after one year -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash -€34,269
down €34,269 (-36.1%), from €95,046 to €60,777
mainly Contributions, distributions and other (-€250,543) and Debts after one year (-€31,925)
- Tangible fixed assets -€27,141
down €27,141 (-5.1%), from €535,889 to €508,747
of which Land and buildings: -€26,054
- Reserves -€227,366
down €227,366 (-43.0%), from €528,412 to €301,046
of which Distributable reserves: -€227,366
- Debts after one year -€31,925
down €31,925 (-24.6%), from €130,033 to €98,108
- Financial income -€2,162
down €2,162 (-31.6%), from €6,838 to €4,676
- Financial charges -€1,835
down €1,835 (-29.8%), from €6,156 to €4,321
- Depreciation -€751
down €751 (-2.7%), from €27,893 to €27,141
- Gross operating margin -€699
down €699 (-1.0%), from €67,369 to €66,670
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €931,013 | €669,584 | -€261,429 | -28.1% |
| Fixed assets | 21/28 | €535,889 | €508,747 | -€27,141 | -5.1% |
| Tangible fixed assets | 22/27 | €535,889 | €508,747 | -€27,141 | -5.1% |
| Land and buildings | 22 | €534,400 | €508,346 | -€26,054 | -4.9% |
| Plant, machinery and equipment | 23 | €196 | - | -€196 | |
| Furniture and vehicles | 24 | €1,292 | €401 | -€891 | -69.0% |
| Current assets | 29/58 | €395,125 | €160,837 | -€234,288 | -59.3% |
| Amounts receivable after more than one year | 29 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Other amounts receivable | 291 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €79 | €60 | -€19 | -24.0% |
| Other amounts receivable | 41 | €79 | €60 | -€19 | -24.0% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €95,046 | €60,777 | -€34,269 | -36.1% |
| Total equity and liabilities | 10/49 | €931,013 | €669,584 | -€261,429 | -28.1% |
| Equity | 10/15 | €643,077 | €415,874 | -€227,203 | -35.3% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €528,412 | €301,046 | -€227,366 | -43.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €490,912 | €263,546 | -€227,366 | -46.3% |
| Profit (loss) carried forward | 14 | - | €3,340 | +€3,340 | |
| Investment grants | 15 | €59,665 | €56,488 | -€3,177 | -5.3% |
| Amounts payable | 17/49 | €287,936 | €253,710 | -€34,226 | -11.9% |
| Amounts payable after more than one year | 17 | €130,033 | €98,108 | -€31,925 | -24.6% |
| Financial debts | 170/4 | €130,033 | €98,108 | -€31,925 | -24.6% |
| Amounts payable within one year | 42/48 | €157,903 | €155,602 | -€2,301 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €31,550 | €31,925 | +€375 | +1.2% |
| Trade debts | 44 | €484 | - | -€484 | |
| Suppliers | 440/4 | €484 | - | -€484 | |
| Taxes, remuneration and social security | 45 | - | €480 | +€480 | |
| Taxes | 450/3 | - | €480 | +€480 | |
| Other amounts payable | 47/48 | €125,869 | €123,197 | -€2,672 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,893 | €27,141 | -€751 | -2.7% |
| Other operating charges | 640/8 | €9,320 | €9,614 | +€294 | +3.1% |
| Gross operating margin | 9900 | €67,369 | €66,670 | -€699 | -1.0% |
| Operating profit (loss) | 9901 | €30,156 | €29,915 | -€241 | -0.8% |
| Financial income | 75/76B | €6,838 | €4,676 | -€2,162 | -31.6% |
| Recurring financial income | 75 | €6,838 | €4,676 | -€2,162 | -31.6% |
| Financial charges | 65/66B | €6,156 | €4,321 | -€1,835 | -29.8% |
| Recurring financial charges | 65 | €6,156 | €4,321 | -€1,835 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | €30,838 | €30,270 | -€567 | -1.8% |
| Income taxes | 67/77 | €7,079 | €6,930 | -€149 | -2.1% |
| Profit (loss) for the period | 9904 | €23,759 | €23,340 | -€419 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,759 | €23,340 | -€419 | -1.8% |
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.