PFR Expertise: 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.
PFR Expertise
Largest movements
- Cash -€24,352
down €24,352 (-82.2%), from €29,610 to €5,258
mainly Current investments (-€12,003) and Receivables within one year (-€9,360)
- Current investments +€12,003
new in 2025: €12,003
- Receivables within one year +€9,360
up €9,360, from €0 to €9,360
- Tangible fixed assets -€1,314
down €1,314 (-23.7%), from €5,548 to €4,235
- Deferred charges and accrued income +€766
up €766 (+45.3%), from €1,689 to €2,455
- Trade debts -€9,086
down €9,086 (-87.2%), from €10,424 to €1,338
- Other debts +€2,427
up €2,427 (+2,425%), from €100 to €2,527
- Tax, wage and social debts +€2,064
up €2,064 (+24.6%), from €8,405 to €10,469
of which Remuneration and social security: +€2,950
- Profit (loss) carried forward +€1,114
up €1,114 (+10.8%), from €10,358 to €11,472
- Gross operating margin -€5,340
down €5,340 (-46.0%), from €11,620 to €6,281
- Taxes -€1,021
down €1,021 (-63.9%), from €1,597 to €577
- Depreciation +€624
up €624 (+90.5%), from €690 to €1,314
- Financial charges -€468
down €468 (-12.4%), from €3,765 to €3,297
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 | €36,848 | €33,310 | -€3,537 | -9.6% |
| Fixed assets | 21/28 | €5,548 | €4,235 | -€1,314 | -23.7% |
| Tangible fixed assets | 22/27 | €5,548 | €4,235 | -€1,314 | -23.7% |
| Furniture and vehicles | 24 | €5,548 | €4,235 | -€1,314 | -23.7% |
| Current assets | 29/58 | €31,299 | €29,076 | -€2,224 | -7.1% |
| Amounts receivable within one year | 40/41 | €0 | €9,360 | +€9,360 | |
| Trade receivables | 40 | €0 | €9,360 | +€9,360 | |
| Current investments | 50/53 | - | €12,003 | +€12,003 | |
| Cash at bank and in hand | 54/58 | €29,610 | €5,258 | -€24,352 | -82.2% |
| Deferred charges and accrued income | 490/1 | €1,689 | €2,455 | +€766 | +45.3% |
| Total equity and liabilities | 10/49 | €36,848 | €33,310 | -€3,537 | -9.6% |
| Equity | 10/15 | €17,858 | €18,972 | +€1,114 | +6.2% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,358 | €11,472 | +€1,114 | +10.8% |
| Amounts payable | 17/49 | €18,990 | €14,339 | -€4,651 | -24.5% |
| Amounts payable within one year | 42/48 | €18,990 | €14,334 | -€4,656 | -24.5% |
| Financial debts | 43 | €60 | €0 | -€60 | -100% |
| Other loans | 439 | €60 | €0 | -€60 | -100% |
| Trade debts | 44 | €10,424 | €1,338 | -€9,086 | -87.2% |
| Suppliers | 440/4 | €10,424 | €1,338 | -€9,086 | -87.2% |
| Taxes, remuneration and social security | 45 | €8,405 | €10,469 | +€2,064 | +24.6% |
| Taxes | 450/3 | €8,405 | €7,519 | -€886 | -10.5% |
| Remuneration and social security | 454/9 | €0 | €2,950 | +€2,950 | |
| Other amounts payable | 47/48 | €100 | €2,527 | +€2,427 | +2,425% |
| Accrued charges and deferred income | 492/3 | - | €5 | +€5 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €690 | €1,314 | +€624 | +90.5% |
| Other operating charges | 640/8 | €62 | €0 | -€62 | -100% |
| Gross operating margin | 9900 | €11,620 | €6,281 | -€5,340 | -46.0% |
| Operating profit (loss) | 9901 | €10,869 | €4,967 | -€5,902 | -54.3% |
| Financial income | 75/76B | - | €20 | +€20 | |
| Recurring financial income | 75 | - | €20 | +€20 | |
| Financial charges | 65/66B | €3,765 | €3,297 | -€468 | -12.4% |
| Recurring financial charges | 65 | €3,765 | €3,297 | -€468 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €7,104 | €1,690 | -€5,414 | -76.2% |
| Income taxes | 67/77 | €1,597 | €577 | -€1,021 | -63.9% |
| Profit (loss) for the period | 9904 | €5,507 | €1,114 | -€4,393 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,507 | €1,114 | -€4,393 | -79.8% |
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 16 October 2026 via checked.be.