PFR SERVICES: 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 SERVICES
Largest movements
- Receivables within one year +€122,725
up €122,725 (+468%), from €26,244 to €148,969
of which Trade receivables: +€95,104
- Tangible fixed assets +€23,493
up €23,493 (+30.4%), from €77,372 to €100,864
of which Leasing and similar rights: +€24,131
- Cash -€4,469
down €4,469 (-97.9%), from €4,564 to €95
mainly Receivables within one year (-€122,725) and Investment in fixed assets (net) (-€53,120)
- Tax, wage and social debts +€61,090
up €61,090 (+696%), from €8,777 to €69,868
of which Remuneration and social security: +€35,680
- Trade debts +€24,985
up €24,985 (+10,315%), from €242 to €25,227
- Other debts +€17,803
up €17,803 (+149%), from €11,947 to €29,750
- Debts after one year +€15,383
up €15,383 (+27.5%), from €55,999 to €71,382
- Profit (loss) carried forward +€10,632
up €10,632 (+49.3%), from €21,561 to €32,193
- Gross operating margin +€186,997
up €186,997 (+422%), from €44,332 to €231,330
- Staff costs +€133,595
up €133,595 (+6,024%), from €2,218 to €135,813
- Other operating charges -€16,580
down €16,580 (-94.5%), from €17,545 to €965
- Taxes +€14,760
new in 2025: €14,760
- Financial charges -€13,263
down €13,263 (-72.5%), from €18,299 to €5,037
of which Financial charges: -€7,063
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 | €114,383 | €254,272 | +€139,890 | +122% |
| Fixed assets | 21/28 | €77,372 | €101,364 | +€23,993 | +31.0% |
| Tangible fixed assets | 22/27 | €77,372 | €100,864 | +€23,493 | +30.4% |
| Plant, machinery and equipment | 23 | €1,195 | €1,966 | +€772 | +64.6% |
| Furniture and vehicles | 24 | €11,894 | €10,484 | -€1,410 | -11.9% |
| Leasing and similar rights | 25 | €64,283 | €88,414 | +€24,131 | +37.5% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €37,011 | €152,908 | +€115,897 | +313% |
| Stocks and contracts in progress | 3 | €3,050 | €3,050 | = | 0.0% |
| Stocks | 30/36 | €3,050 | €3,050 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €26,244 | €148,969 | +€122,725 | +468% |
| Trade receivables | 40 | €20,444 | €115,548 | +€95,104 | +465% |
| Other amounts receivable | 41 | €5,800 | €33,421 | +€27,621 | +476% |
| Cash at bank and in hand | 54/58 | €4,564 | €95 | -€4,469 | -97.9% |
| Deferred charges and accrued income | 490/1 | €3,153 | €794 | -€2,359 | -74.8% |
| Total equity and liabilities | 10/49 | €114,383 | €254,272 | +€139,890 | +122% |
| Equity | 10/15 | €23,561 | €34,193 | +€10,632 | +45.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,561 | €32,193 | +€10,632 | +49.3% |
| Amounts payable | 17/49 | €90,821 | €220,079 | +€129,258 | +142% |
| Amounts payable after more than one year | 17 | €55,999 | €71,382 | +€15,383 | +27.5% |
| Financial debts | 170/4 | €55,999 | €71,382 | +€15,383 | +27.5% |
| Amounts payable within one year | 42/48 | €34,822 | €148,697 | +€113,875 | +327% |
| Current portion of amounts payable after more than one year | 42 | €13,855 | €23,852 | +€9,997 | +72.2% |
| Trade debts | 44 | €242 | €25,227 | +€24,985 | +10,315% |
| Suppliers | 440/4 | €242 | €25,227 | +€24,985 | +10,315% |
| Taxes, remuneration and social security | 45 | €8,777 | €69,868 | +€61,090 | +696% |
| Taxes | 450/3 | €8,777 | €34,188 | +€25,410 | +289% |
| Remuneration and social security | 454/9 | - | €35,680 | +€35,680 | |
| Other amounts payable | 47/48 | €11,947 | €29,750 | +€17,803 | +149% |
| Remuneration, social security and pensions | 62 | €2,218 | €135,813 | +€133,595 | +6,024% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,536 | €29,127 | +€10,591 | +57.1% |
| Other operating charges | 640/8 | €17,545 | €965 | -€16,580 | -94.5% |
| Gross operating margin | 9900 | €44,332 | €231,330 | +€186,997 | +422% |
| Operating profit (loss) | 9901 | €6,034 | €65,425 | +€59,391 | +984% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €18,299 | €5,037 | -€13,263 | -72.5% |
| Recurring financial charges | 65 | €12,099 | €5,037 | -€7,063 | -58.4% |
| Non-recurring financial charges | 66B | €6,200 | - | -€6,200 | |
| Profit (loss) for the period before taxes | 9903 | -€12,266 | €60,391 | +€72,657 | |
| Income taxes | 67/77 | - | €14,760 | +€14,760 | |
| Profit (loss) for the period | 9904 | -€12,266 | €45,632 | +€57,897 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,266 | €45,632 | +€57,897 |
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 18 October 2026 via checked.be.