PFE-NAMUR: 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.
PFE-NAMUR
Largest movements
- Cash -€189,535
down €189,535 (-83.7%), from €226,512 to €36,977
mainly Contributions, distributions and other (-€159,000) and Receivables after one year (-€122,500)
- Receivables after one year +€122,500
up €122,500 (+169%), from €72,500 to €195,000
- Receivables within one year +€4,912
up €4,912 (+29.8%), from €16,507 to €21,418
of which Other amounts receivable: +€7,024
- Deferred charges and accrued income +€4,440
up €4,440 (+133%), from €3,326 to €7,766
- Tangible fixed assets +€3,516
up €3,516 (+336%), from €1,045 to €4,562
- Reserves -€156,000
down €156,000 (-64.1%), from €243,406 to €87,406
of which Distributable reserves: -€156,000
- Other debts +€106,456
up €106,456 (+170%), from €62,450 to €168,906
- Tax, wage and social debts -€3,557
down €3,557 (-89.6%), from €3,968 to €411
- Gross operating margin -€17,169
down €17,169 (-76.4%), from €22,461 to €5,292
- Taxes -€5,396
down €5,396 (-73.2%), from €7,372 to €1,976
- Depreciation +€431
up €431 (+44.9%), from €960 to €1,391
- Financial income +€404
up €404 (+12.7%), from €3,185 to €3,588
- Other operating charges +€351
up €351 (+42.3%), from €831 to €1,182
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 | €319,890 | €265,723 | -€54,167 | -16.9% |
| Fixed assets | 21/28 | €1,045 | €4,562 | +€3,516 | +336% |
| Tangible fixed assets | 22/27 | €1,045 | €4,562 | +€3,516 | +336% |
| Furniture and vehicles | 24 | €1,045 | €4,562 | +€3,516 | +336% |
| Current assets | 29/58 | €318,845 | €261,161 | -€57,684 | -18.1% |
| Amounts receivable after more than one year | 29 | €72,500 | €195,000 | +€122,500 | +169% |
| Other amounts receivable | 291 | €72,500 | €195,000 | +€122,500 | +169% |
| Amounts receivable within one year | 40/41 | €16,507 | €21,418 | +€4,912 | +29.8% |
| Trade receivables | 40 | €8,879 | €6,766 | -€2,113 | -23.8% |
| Other amounts receivable | 41 | €7,628 | €14,652 | +€7,024 | +92.1% |
| Cash at bank and in hand | 54/58 | €226,512 | €36,977 | -€189,535 | -83.7% |
| Deferred charges and accrued income | 490/1 | €3,326 | €7,766 | +€4,440 | +133% |
| Total equity and liabilities | 10/49 | €319,890 | €265,723 | -€54,167 | -16.9% |
| Equity | 10/15 | €251,597 | €95,681 | -€155,916 | -62.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €243,406 | €87,406 | -€156,000 | -64.1% |
| Tax-exempt reserves | 132 | €1,546 | €1,546 | = | 0.0% |
| Distributable reserves | 133 | €241,860 | €85,860 | -€156,000 | -64.5% |
| Profit (loss) carried forward | 14 | €1,991 | €2,075 | +€84 | +4.2% |
| Amounts payable | 17/49 | €68,293 | €170,042 | +€101,749 | +149% |
| Amounts payable within one year | 42/48 | €68,293 | €170,042 | +€101,749 | +149% |
| Trade debts | 44 | €1,875 | €725 | -€1,151 | -61.4% |
| Suppliers | 440/4 | €1,875 | €725 | -€1,151 | -61.4% |
| Taxes, remuneration and social security | 45 | €3,968 | €411 | -€3,557 | -89.6% |
| Taxes | 450/3 | €3,968 | €411 | -€3,557 | -89.6% |
| Other amounts payable | 47/48 | €62,450 | €168,906 | +€106,456 | +170% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €960 | €1,391 | +€431 | +44.9% |
| Other operating charges | 640/8 | €831 | €1,182 | +€351 | +42.3% |
| Gross operating margin | 9900 | €22,461 | €5,292 | -€17,169 | -76.4% |
| Operating profit (loss) | 9901 | €20,670 | €2,719 | -€17,951 | -86.8% |
| Financial income | 75/76B | €3,185 | €3,588 | +€404 | +12.7% |
| Recurring financial income | 75 | €3,185 | €3,588 | +€404 | +12.7% |
| Financial charges | 65/66B | €1,360 | €1,247 | -€112 | -8.3% |
| Recurring financial charges | 65 | €1,360 | €1,247 | -€112 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €22,495 | €5,060 | -€17,435 | -77.5% |
| Income taxes | 67/77 | €7,372 | €1,976 | -€5,396 | -73.2% |
| Profit (loss) for the period | 9904 | €15,123 | €3,084 | -€12,039 | -79.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,123 | €3,084 | -€12,039 | -79.6% |
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 27 October 2026 via checked.be.