PFP Invest: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
PFP Invest
Largest movements
- Tangible fixed assets +€561,242
up €561,242 (+48.3%), from €1.2m to €1.7m
- Reserves +€847,752
up €847,752 (+2,812%), from €30,149 to €877,902
of which Distributable reserves: +€846,296
- Other debts -€220,502
down €220,502 (-36.2%), from €608,814 to €388,312
- Profit (loss) carried forward -€32,472
down €32,472 (-366%), from -€8,879 to -€41,351
- Provisions -€31,717
down €31,717 (-12.2%), from €260,714 to €228,997
- Debts after one year -€20,720
down €20,720 (-7.2%), from €287,665 to €266,945
- Gross operating margin -€14,867
down €14,867 (-27.8%), from €53,539 to €38,672
- Financial charges +€13,158
up €13,158 (+55.3%), from €23,780 to €36,938
- Taxes -€1,257
no longer reported in 2025 (was €1,257)
- Depreciation +€801
up €801 (+2.6%), from €30,991 to €31,792
- Other operating charges +€653
up €653 (+37.1%), from €1,760 to €2,414
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,211,337 | €1,775,439 | +€564,102 | +46.6% |
| Fixed assets | 21/28 | €1,161,987 | €1,723,229 | +€561,242 | +48.3% |
| Tangible fixed assets | 22/27 | €1,161,987 | €1,723,229 | +€561,242 | +48.3% |
| Land and buildings | 22 | €1,161,987 | €1,723,229 | +€561,242 | +48.3% |
| Current assets | 29/58 | €49,350 | €52,209 | +€2,859 | +5.8% |
| Stocks and contracts in progress | 3 | - | €12,211 | +€12,211 | |
| Stocks | 30/36 | - | €12,211 | +€12,211 | |
| Amounts receivable within one year | 40/41 | €47,630 | €37,426 | -€10,204 | -21.4% |
| Trade receivables | 40 | €16,687 | €21,962 | +€5,275 | +31.6% |
| Other amounts receivable | 41 | €30,944 | €15,465 | -€15,479 | -50.0% |
| Cash at bank and in hand | 54/58 | €1,720 | €2,572 | +€852 | +49.6% |
| Total equity and liabilities | 10/49 | €1,211,337 | €1,775,439 | +€564,102 | +46.6% |
| Equity | 10/15 | €23,771 | €853,620 | +€829,850 | +3,491% |
| Contributions | 10/11 | €2,500 | €17,069 | +€14,569 | +583% |
| Reserves | 13 | €30,149 | €877,902 | +€847,752 | +2,812% |
| Non-distributable reserves | 130/1 | - | €1,457 | +€1,457 | |
| Reserves not available under the articles | 1311 | - | €1,457 | +€1,457 | |
| Distributable reserves | 133 | €30,149 | €876,445 | +€846,296 | +2,807% |
| Profit (loss) carried forward | 14 | -€8,879 | -€41,351 | -€32,472 | -366% |
| Provisions and deferred taxes | 16 | €260,714 | €228,997 | -€31,717 | -12.2% |
| Provisions for liabilities and charges | 160/5 | €260,714 | €228,997 | -€31,717 | -12.2% |
| Environmental obligations | 163 | €260,714 | €228,997 | -€31,717 | -12.2% |
| Amounts payable | 17/49 | €926,853 | €692,821 | -€234,032 | -25.3% |
| Amounts payable after more than one year | 17 | €287,665 | €266,945 | -€20,720 | -7.2% |
| Financial debts | 170/4 | €287,665 | €266,945 | -€20,720 | -7.2% |
| Amounts payable within one year | 42/48 | €639,188 | €425,876 | -€213,312 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | €20,772 | €20,720 | -€53 | -0.3% |
| Trade debts | 44 | €8,346 | €15,588 | +€7,243 | +86.8% |
| Suppliers | 440/4 | €8,346 | €15,588 | +€7,243 | +86.8% |
| Taxes, remuneration and social security | 45 | €1,257 | €1,257 | = | 0.0% |
| Taxes | 450/3 | €1,257 | €1,257 | = | 0.0% |
| Other amounts payable | 47/48 | €608,814 | €388,312 | -€220,502 | -36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,991 | €31,792 | +€801 | +2.6% |
| Other operating charges | 640/8 | €1,760 | €2,414 | +€653 | +37.1% |
| Gross operating margin | 9900 | €53,539 | €38,672 | -€14,867 | -27.8% |
| Operating profit (loss) | 9901 | €20,788 | €4,466 | -€16,321 | -78.5% |
| Financial income | 75/76B | €314 | - | -€314 | |
| Recurring financial income | 75 | €314 | - | -€314 | |
| Financial charges | 65/66B | €23,780 | €36,938 | +€13,158 | +55.3% |
| Recurring financial charges | 65 | €23,780 | €36,938 | +€13,158 | +55.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,678 | -€32,472 | -€29,794 | -1,113% |
| Income taxes | 67/77 | €1,257 | - | -€1,257 | |
| Profit (loss) for the period | 9904 | -€3,935 | -€32,472 | -€28,537 | -725% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,935 | -€32,472 | -€28,537 | -725% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.