PJ CONSULT: 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.
What changed
PJ CONSULT
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€85,298
2024 · -€72,547+€157,845
Equity
€1.6m
2024 · €1.5m+€85,298
Cash
€150,575
2024 · €9,164+€141,410
Balance sheet total
€3.0m
2024 · €2.8m+€184,453
Largest movements
Assets
- Tangible fixed assets +€225,011
up €225,011 (+34.0%), from €662,397 to €887,408
of which Other tangible fixed assets: +€286,151
- Receivables within one year -€155,056
down €155,056 (-28.5%), from €544,649 to €389,592
of which Trade receivables: -€82,415
- Current investments -€152,020
down €152,020 (-100%), from €152,020 to €0
- Cash +€141,410
up €141,410 (+1,543%), from €9,164 to €150,575
mainly Receivables within one year (+€155,056) and Current investments (+€152,020)
- Financial fixed assets +€125,000
up €125,000 (+8.6%), from €1.5m to €1.6m
of which Affiliated companies: +€125,000
Equity and liabilities
- Profit (loss) carried forward +€85,298
up €85,298 (+9.5%), from €900,569 to €985,868
- Debts after one year +€58,388
up €58,388 (+5.6%), from €1.0m to €1.1m
Income statement
- Financial charges -€142,309
down €142,309 (-75.2%), from €189,283 to €46,975
- Services and other goods -€41,529
down €41,529 (-22.1%), from €187,910 to €146,381
- Depreciation +€18,757
up €18,757 (+33.4%), from €56,231 to €74,989
- Financial income -€13,794
down €13,794 (-24.7%), from €55,863 to €42,068
- Other operating income +€7,635
up €7,635 (+3.5%), from €216,837 to €224,472
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.
Result 2024
-€72,547
Other operating income
+€7,635
Services and other goods
+€41,529
Depreciation
-€18,757
Other operating charges
-€1,004
Financial income
-€13,794
Financial charges
+€142,309
Taxes
-€72
Result 2025
€85,298
raises the resultlowers the result
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.
From operations
+€326,881
Investment
-€272,980
Financing
+€87,510
Cash 2024
€9,164
From operations (derived)
+€326,881
Net result for the year
+€85,298
Depreciation
+€74,989
Receivables within one year
+€155,056
Deferred charges and accrued income
-€108
Trade debts
+€4,403
Tax, wage and social debts
-€3,836
Other debts
+€19,812
Accrued charges and deferred income
-€8,734
Investment (derived)
-€272,980
Investment in fixed assets (net)
-€425,000
Current investments
+€152,020
Financing
+€87,510
Debts after one year
+€58,388
Current portion of long-term debt
+€29,121
Cash 2025
€150,575
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,823,459 | €3,007,911 | +€184,453 | +6.5% |
| Fixed assets | 21/28 | €2,114,896 | €2,464,907 | +€350,011 | +16.5% |
| Tangible fixed assets | 22/27 | €662,397 | €887,408 | +€225,011 | +34.0% |
| Land and buildings | 22 | €628,662 | €579,660 | -€49,003 | -7.8% |
| Plant, machinery and equipment | 23 | €11,216 | €8,026 | -€3,190 | -28.4% |
| Furniture and vehicles | 24 | €22,519 | €13,572 | -€8,947 | -39.7% |
| Other tangible fixed assets | 26 | - | €286,151 | +€286,151 | |
| Financial fixed assets | 28 | €1,452,499 | €1,577,499 | +€125,000 | +8.6% |
| Affiliated companies | 280/1 | €1,383,649 | €1,508,649 | +€125,000 | +9.0% |
| Participating interests | 280 | €1,383,649 | €1,508,649 | +€125,000 | +9.0% |
| Companies linked by participating interests | 282/3 | €68,850 | €68,850 | = | 0.0% |
| Participating interests | 282 | €68,850 | €68,850 | = | 0.0% |
| Other financial fixed assets | 284/8 | €0 | - | = | |
| Shares | 284 | €0 | - | = | |
| Current assets | 29/58 | €708,563 | €543,004 | -€165,559 | -23.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €544,649 | €389,592 | -€155,056 | -28.5% |
| Trade receivables | 40 | €82,415 | €0 | -€82,415 | -100% |
| Other amounts receivable | 41 | €462,234 | €389,592 | -€72,641 | -15.7% |
| Current investments | 50/53 | €152,020 | €0 | -€152,020 | -100% |
| Other investments | 51/53 | €152,020 | €0 | -€152,020 | -100% |
| Cash at bank and in hand | 54/58 | €9,164 | €150,575 | +€141,410 | +1,543% |
| Deferred charges and accrued income | 490/1 | €2,729 | €2,837 | +€108 | +3.9% |
| Total equity and liabilities | 10/49 | €2,823,459 | €3,007,911 | +€184,453 | +6.5% |
| Equity | 10/15 | €1,532,431 | €1,617,730 | +€85,298 | +5.6% |
| Contributions | 10/11 | €540,000 | €540,000 | = | 0.0% |
| Reserves | 13 | €91,862 | €91,862 | = | 0.0% |
| Distributable reserves | 133 | €91,862 | €91,862 | = | 0.0% |
| Profit (loss) carried forward | 14 | €900,569 | €985,868 | +€85,298 | +9.5% |
| Amounts payable | 17/49 | €1,291,027 | €1,390,182 | +€99,154 | +7.7% |
| Amounts payable after more than one year | 17 | €1,034,072 | €1,092,460 | +€58,388 | +5.6% |
| Financial debts | 170/4 | €1,034,072 | €1,092,460 | +€58,388 | +5.6% |
| Credit institutions | 173 | €18,001 | €76,389 | +€58,388 | +324% |
| Other loans | 174 | €1,016,072 | €1,016,072 | = | 0.0% |
| Amounts payable within one year | 42/48 | €170,521 | €220,021 | +€49,501 | +29.0% |
| Current portion of amounts payable after more than one year | 42 | €30,546 | €59,667 | +€29,121 | +95.3% |
| Trade debts | 44 | €355 | €4,758 | +€4,403 | +1,241% |
| Suppliers | 440/4 | €355 | €4,758 | +€4,403 | +1,241% |
| Taxes, remuneration and social security | 45 | €7,365 | €3,529 | -€3,836 | -52.1% |
| Taxes | 450/3 | €557 | €3,529 | +€2,972 | +534% |
| Remuneration and social security | 454/9 | €6,808 | €0 | -€6,808 | -100% |
| Other amounts payable | 47/48 | €132,255 | €152,068 | +€19,812 | +15.0% |
| Accrued charges and deferred income | 492/3 | €86,435 | €77,700 | -€8,734 | -10.1% |
| Operating income | 70/76A | €336,837 | €344,472 | +€7,635 | +2.3% |
| Turnover | 70 | €120,000 | €120,000 | = | 0.0% |
| Other operating income | 74 | €216,837 | €224,472 | +€7,635 | +3.5% |
| Operating charges | 60/66A | €274,901 | €253,133 | -€21,768 | -7.9% |
| Services and other goods | 61 | €187,910 | €146,381 | -€41,529 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,231 | €74,989 | +€18,757 | +33.4% |
| Other operating charges | 640/8 | €30,760 | €31,764 | +€1,004 | +3.3% |
| Operating profit (loss) | 9901 | €61,937 | €91,339 | +€29,403 | +47.5% |
| Financial income | 75/76B | €55,863 | €42,068 | -€13,794 | -24.7% |
| Recurring financial income | 75 | €55,863 | €42,068 | -€13,794 | -24.7% |
| Income from financial fixed assets | 750 | €28,470 | €30,000 | +€1,530 | +5.4% |
| Income from current assets | 751 | €27,393 | €12,068 | -€15,324 | -55.9% |
| Other financial income | 752/9 | €0 | - | = | |
| Financial charges | 65/66B | €189,283 | €46,975 | -€142,309 | -75.2% |
| Recurring financial charges | 65 | €189,283 | €46,975 | -€142,309 | -75.2% |
| Debt charges | 650 | €87,269 | €78,763 | -€8,506 | -9.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €101,018 | -€37,201 | -€138,219 | |
| Other financial charges | 652/9 | €996 | €5,413 | +€4,417 | +443% |
| Profit (loss) for the period before taxes | 9903 | -€71,484 | €86,433 | +€157,917 | |
| Income taxes | 67/77 | €1,063 | €1,135 | +€72 | +6.8% |
| Taxes | 670/3 | €1,063 | €1,135 | +€72 | +6.8% |
| Profit (loss) for the period | 9904 | -€72,547 | €85,298 | +€157,845 | |
| Profit (loss) for the period to be appropriated | 9905 | -€72,547 | €85,298 | +€157,845 |
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.