PFW ENGINEERING: 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.
PFW ENGINEERING
Largest movements
- Cash -€160,131
down €160,131 (-44.3%), from €361,818 to €201,688
mainly Receivables within one year (-€157,951) and Contributions, distributions and other (-€110,000)
- Receivables within one year +€157,951
up €157,951 (+53.7%), from €294,198 to €452,149
of which Trade receivables: +€156,861
- Tangible fixed assets +€71,061
up €71,061 (+494.5%), from €14,371 to €85,432
- Reserves +€55,301
up €55,301 (+14.6%), from €378,664 to €433,966
- Tax, wage and social debts +€42,168
up €42,168 (+34.6%), from €121,826 to €163,994
of which Remuneration and social security: +€22,001
- Other debts -€20,000
down €20,000 (-15.4%), from €130,000 to €110,000
- Trade debts -€8,588
down €8,588 (-40.3%), from €21,297 to €12,709
- Staff costs +€40,469
up €40,469 (+6.8%), from €595,726 to €636,195
- Taxes -€15,435
down €15,435 (-21.2%), from €72,675 to €57,239
- Depreciation +€11,530
up €11,530 (+107.6%), from €10,720 to €22,250
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €670,387 | €739,269 | +€68,881 | +10.3% |
| Fixed assets | 21/28 | €14,371 | €85,432 | +€71,061 | +494.5% |
| Tangible fixed assets | 22/27 | €14,371 | €85,432 | +€71,061 | +494.5% |
| Furniture and vehicles | 24 | €14,371 | €85,432 | +€71,061 | +494.5% |
| Current assets | 29/58 | €656,017 | €653,837 | -€2,180 | -0.3% |
| Amounts receivable within one year | 40/41 | €294,198 | €452,149 | +€157,951 | +53.7% |
| Trade receivables | 40 | €294,198 | €451,059 | +€156,861 | +53.3% |
| Other amounts receivable | 41 | €0 | €1,090 | +€1,090 | |
| Cash at bank and in hand | 54/58 | €361,818 | €201,688 | -€160,131 | -44.3% |
| Total equity and liabilities | 10/49 | €670,387 | €739,269 | +€68,881 | +10.3% |
| Equity | 10/15 | €397,264 | €452,566 | +€55,301 | +13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €378,664 | €433,966 | +€55,301 | +14.6% |
| Distributable reserves | 133 | €378,664 | €433,966 | +€55,301 | +14.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €273,123 | €286,703 | +€13,580 | +5.0% |
| Amounts payable within one year | 42/48 | €273,123 | €286,703 | +€13,580 | +5.0% |
| Trade debts | 44 | €21,297 | €12,709 | -€8,588 | -40.3% |
| Suppliers | 440/4 | €21,297 | €12,709 | -€8,588 | -40.3% |
| Taxes, remuneration and social security | 45 | €121,826 | €163,994 | +€42,168 | +34.6% |
| Taxes | 450/3 | €37,550 | €57,718 | +€20,167 | +53.7% |
| Remuneration and social security | 454/9 | €84,276 | €106,277 | +€22,001 | +26.1% |
| Other amounts payable | 47/48 | €130,000 | €110,000 | -€20,000 | -15.4% |
| Remuneration, social security and pensions | 62 | €595,726 | €636,195 | +€40,469 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,720 | €22,250 | +€11,530 | +107.6% |
| Other operating charges | 640/8 | €1,896 | €2,251 | +€356 | +18.8% |
| Gross operating margin | 9900 | €881,663 | €883,305 | +€1,642 | +0.2% |
| Operating profit (loss) | 9901 | €273,321 | €222,609 | -€50,712 | -18.6% |
| Financial income | 75/76B | €0 | €11 | +€11 | |
| Recurring financial income | 75 | €0 | €11 | +€11 | |
| Financial charges | 65/66B | €42 | €80 | +€38 | +89.3% |
| Recurring financial charges | 65 | €42 | €80 | +€38 | +89.3% |
| Profit (loss) for the period before taxes | 9903 | €273,279 | €222,541 | -€50,738 | -18.6% |
| Income taxes | 67/77 | €72,675 | €57,239 | -€15,435 | -21.2% |
| Profit (loss) for the period | 9904 | €200,604 | €165,301 | -€35,303 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €200,604 | €165,301 | -€35,303 | -17.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.