PFS Construct: what changed
Two fiscal 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.
PFS Construct
Largest movements
- Receivables within one year -€79,133
down €79,133 (-78.8%), from €100,368 to €21,235
of which Trade receivables: -€80,722
- Tangible fixed assets -€5,111
down €5,111 (-64.8%), from €7,884 to €2,773
- Cash -€1,792
down €1,792 (-49.3%), from €3,635 to €1,844
mainly Trade debts (-€50,835) and Net result for the year (-€32,475)
- Trade debts -€50,835
down €50,835 (-63.2%), from €80,487 to €29,652
- Profit (loss) carried forward -€32,475
down €32,475, from €21,171 to -€11,304
- Tax, wage and social debts -€3,490
down €3,490 (-35.7%), from €9,772 to €6,282
of which Taxes: -€2,690
- Gross operating margin -€52,499
down €52,499, from €25,568 to -€26,931
- Taxes -€11,416
down €11,416 (-98.5%), from €11,592 to €176
- Other operating charges -€1,547
down €1,547 (-89.3%), from €1,733 to €186
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.
Cash bridge derived
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 | €112,261 | €26,226 | -€86,035 | -76.6% |
| Fixed assets | 21/28 | €8,258 | €3,147 | -€5,111 | -61.9% |
| Tangible fixed assets | 22/27 | €7,884 | €2,773 | -€5,111 | -64.8% |
| Furniture and vehicles | 24 | €7,884 | €2,773 | -€5,111 | -64.8% |
| Financial fixed assets | 28 | €374 | €374 | +€0 | 0.0% |
| Current assets | 29/58 | €104,003 | €23,079 | -€80,924 | -77.8% |
| Amounts receivable within one year | 40/41 | €100,368 | €21,235 | -€79,133 | -78.8% |
| Trade receivables | 40 | €99,741 | €19,019 | -€80,722 | -80.9% |
| Other amounts receivable | 41 | €627 | €2,216 | +€1,589 | +253.4% |
| Cash at bank and in hand | 54/58 | €3,635 | €1,844 | -€1,792 | -49.3% |
| Total equity and liabilities | 10/49 | €112,261 | €26,226 | -€86,035 | -76.6% |
| Equity | 10/15 | €21,171 | -€11,304 | -€32,475 | |
| Profit (loss) carried forward | 14 | €21,171 | -€11,304 | -€32,475 | |
| Amounts payable | 17/49 | €91,090 | €37,530 | -€53,560 | -58.8% |
| Amounts payable within one year | 42/48 | €91,090 | €37,530 | -€53,560 | -58.8% |
| Trade debts | 44 | €80,487 | €29,652 | -€50,835 | -63.2% |
| Suppliers | 440/4 | €80,487 | €29,652 | -€50,835 | -63.2% |
| Taxes, remuneration and social security | 45 | €9,772 | €6,282 | -€3,490 | -35.7% |
| Taxes | 450/3 | €8,972 | €6,282 | -€2,690 | -30.0% |
| Remuneration and social security | 454/9 | €800 | - | -€800 | |
| Other amounts payable | 47/48 | €831 | €1,596 | +€765 | +92.0% |
| Remuneration, social security and pensions | 62 | €124 | - | -€124 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,063 | €5,110 | +€47 | +0.9% |
| Other operating charges | 640/8 | €1,733 | €186 | -€1,547 | -89.3% |
| Gross operating margin | 9900 | €25,568 | -€26,931 | -€52,499 | |
| Operating profit (loss) | 9901 | €18,648 | -€32,227 | -€50,875 | |
| Financial charges | 65/66B | €148 | €72 | -€76 | -51.5% |
| Recurring financial charges | 65 | €148 | €72 | -€76 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | €18,500 | -€32,299 | -€50,799 | |
| Income taxes | 67/77 | €11,592 | €176 | -€11,416 | -98.5% |
| Profit (loss) for the period | 9904 | €6,908 | -€32,475 | -€39,383 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,908 | -€32,475 | -€39,383 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.