PFA RENOV: 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.
PFA RENOV
Largest movements
- Receivables within one year +€48,163
up €48,163 (+213%), from €22,607 to €70,770
of which Trade receivables: +€48,563
- Tangible fixed assets -€8,840
down €8,840 (-59.0%), from €14,977 to €6,137
of which Furniture and vehicles: -€8,480
- Cash -€7,528
down €7,528 (-60.7%), from €12,408 to €4,880
mainly Receivables within one year (-€48,163) and Trade debts (-€18,854)
- Stocks and contracts -€1,386
no longer reported in 2025 (was €1,386)
- Advances received +€20,200
new in 2025: €20,200
- Trade debts -€18,854
down €18,854 (-56.4%), from €33,455 to €14,601
- Profit (loss) carried forward +€18,806
up €18,806 (+223%), from €8,440 to €27,246
- Other debts +€8,526
up €8,526 (+222%), from €3,849 to €12,375
- Tax, wage and social debts +€1,284
up €1,284 (+20.2%), from €6,344 to €7,628
of which Taxes: +€4,715
- Gross operating margin +€40,493
up €40,493 (+415%), from €9,746 to €50,240
- Staff costs +€14,120
new in 2025: €14,120
- Taxes +€6,236
up €6,236 (+1,358%), from €459 to €6,695
- Depreciation +€2,866
up €2,866 (+45.2%), from €6,333 to €9,199
- Other operating charges -€839
down €839 (-38.9%), from €2,156 to €1,317
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 | €54,589 | €84,551 | +€29,962 | +54.9% |
| Fixed assets | 21/28 | €14,977 | €6,137 | -€8,840 | -59.0% |
| Tangible fixed assets | 22/27 | €14,977 | €6,137 | -€8,840 | -59.0% |
| Plant, machinery and equipment | 23 | €1,146 | €785 | -€360 | -31.5% |
| Furniture and vehicles | 24 | €13,831 | €5,351 | -€8,480 | -61.3% |
| Current assets | 29/58 | €39,612 | €78,414 | +€38,802 | +98.0% |
| Stocks and contracts in progress | 3 | €1,386 | - | -€1,386 | |
| Stocks | 30/36 | €1,386 | - | -€1,386 | |
| Amounts receivable within one year | 40/41 | €22,607 | €70,770 | +€48,163 | +213% |
| Trade receivables | 40 | €15,136 | €63,699 | +€48,563 | +321% |
| Other amounts receivable | 41 | €7,471 | €7,071 | -€400 | -5.4% |
| Cash at bank and in hand | 54/58 | €12,408 | €4,880 | -€7,528 | -60.7% |
| Deferred charges and accrued income | 490/1 | €3,210 | €2,763 | -€447 | -13.9% |
| Total equity and liabilities | 10/49 | €54,589 | €84,551 | +€29,962 | +54.9% |
| Equity | 10/15 | €10,940 | €29,746 | +€18,806 | +172% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,440 | €27,246 | +€18,806 | +223% |
| Amounts payable | 17/49 | €43,648 | €54,805 | +€11,157 | +25.6% |
| Amounts payable within one year | 42/48 | €43,648 | €54,805 | +€11,157 | +25.6% |
| Trade debts | 44 | €33,455 | €14,601 | -€18,854 | -56.4% |
| Suppliers | 440/4 | €33,455 | €14,601 | -€18,854 | -56.4% |
| Advances received on contracts in progress | 46 | - | €20,200 | +€20,200 | |
| Taxes, remuneration and social security | 45 | €6,344 | €7,628 | +€1,284 | +20.2% |
| Taxes | 450/3 | €2,100 | €6,815 | +€4,715 | +225% |
| Remuneration and social security | 454/9 | €4,244 | €814 | -€3,430 | -80.8% |
| Other amounts payable | 47/48 | €3,849 | €12,375 | +€8,526 | +222% |
| Remuneration, social security and pensions | 62 | - | €14,120 | +€14,120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,333 | €9,199 | +€2,866 | +45.2% |
| Other operating charges | 640/8 | €2,156 | €1,317 | -€839 | -38.9% |
| Gross operating margin | 9900 | €9,746 | €50,240 | +€40,493 | +415% |
| Operating profit (loss) | 9901 | €1,256 | €25,604 | +€24,347 | +1,938% |
| Financial income | 75/76B | €141 | €18 | -€123 | -87.3% |
| Recurring financial income | 75 | €141 | €18 | -€123 | -87.3% |
| Financial charges | 65/66B | €195 | €121 | -€74 | -37.8% |
| Recurring financial charges | 65 | €195 | €121 | -€74 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €1,203 | €25,501 | +€24,298 | +2,020% |
| Income taxes | 67/77 | €459 | €6,695 | +€6,236 | +1,358% |
| Profit (loss) for the period | 9904 | €744 | €18,806 | +€18,062 | +2,429% |
| Profit (loss) for the period to be appropriated | 9905 | €744 | €18,806 | +€18,062 | +2,429% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.