PJM TRANS: 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.
PJM TRANS
Largest movements
- Receivables within one year +€65,449
up €65,449 (+48.2%), from €135,874 to €201,323
of which Trade receivables: +€69,879
- Deferred charges and accrued income -€21,142
down €21,142 (-29.5%), from €71,603 to €50,461
- Cash -€12,920
down €12,920 (-98.4%), from €13,124 to €204
mainly Receivables within one year (-€65,449) and Investment in fixed assets (net) (-€10,381)
- Tax, wage and social debts +€30,427
up €30,427 (+51.4%), from €59,150 to €89,576
of which Taxes: +€35,078
- Profit (loss) carried forward +€10,745
up €10,745 (+21.8%), from €49,209 to €59,954
- Current portion of long-term debt -€9,584
down €9,584 (-100%), from €9,584 to €0
- Trade debts -€7,982
down €7,982 (-23.8%), from €33,510 to €25,528
- Short-term financial debts +€7,368
up €7,368 (+292%), from €2,526 to €9,894
of which Other loans: +€5,500
- Gross operating margin -€80,602
down €80,602 (-70.5%), from €114,304 to €33,702
- Staff costs -€71,205
down €71,205, from €68,925 to -€2,281
- Depreciation -€4,668
down €4,668 (-36.1%), from €12,944 to €8,276
- Financial charges -€2,112
down €2,112 (-23.1%), from €9,144 to €7,031
of which Financial charges: -€2,112
- Taxes +€2,041
up €2,041 (+45.3%), from €4,500 to €6,541
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 | €250,645 | €284,137 | +€33,492 | +13.4% |
| Fixed assets | 21/28 | €30,043 | €32,148 | +€2,105 | +7.0% |
| Tangible fixed assets | 22/27 | €29,943 | €32,048 | +€2,105 | +7.0% |
| Plant, machinery and equipment | 23 | €13,783 | €13,653 | -€130 | -0.9% |
| Furniture and vehicles | 24 | €16,161 | €18,395 | +€2,234 | +13.8% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €220,602 | €251,988 | +€31,387 | +14.2% |
| Amounts receivable within one year | 40/41 | €135,874 | €201,323 | +€65,449 | +48.2% |
| Trade receivables | 40 | €130,506 | €200,385 | +€69,879 | +53.5% |
| Other amounts receivable | 41 | €5,368 | €938 | -€4,430 | -82.5% |
| Cash at bank and in hand | 54/58 | €13,124 | €204 | -€12,920 | -98.4% |
| Deferred charges and accrued income | 490/1 | €71,603 | €50,461 | -€21,142 | -29.5% |
| Total equity and liabilities | 10/49 | €250,645 | €284,137 | +€33,492 | +13.4% |
| Equity | 10/15 | €108,270 | €119,015 | +€10,745 | +9.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40,461 | €40,461 | = | 0.0% |
| Distributable reserves | 133 | €40,461 | €40,461 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,209 | €59,954 | +€10,745 | +21.8% |
| Amounts payable | 17/49 | €142,375 | €165,122 | +€22,747 | +16.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €142,375 | €165,122 | +€22,747 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €9,584 | €0 | -€9,584 | -100% |
| Financial debts | 43 | €2,526 | €9,894 | +€7,368 | +292% |
| Credit institutions | 430/8 | €2,526 | €4,394 | +€1,868 | +73.9% |
| Other loans | 439 | - | €5,500 | +€5,500 | |
| Trade debts | 44 | €33,510 | €25,528 | -€7,982 | -23.8% |
| Suppliers | 440/4 | €33,510 | €25,528 | -€7,982 | -23.8% |
| Taxes, remuneration and social security | 45 | €59,150 | €89,576 | +€30,427 | +51.4% |
| Taxes | 450/3 | €54,499 | €89,576 | +€35,078 | +64.4% |
| Remuneration and social security | 454/9 | €4,651 | €0 | -€4,651 | -100% |
| Other amounts payable | 47/48 | €37,605 | €40,123 | +€2,517 | +6.7% |
| Non-recurring operating income | 76A | - | €2,231 | +€2,231 | |
| Remuneration, social security and pensions | 62 | €68,925 | -€2,281 | -€71,205 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,944 | €8,276 | -€4,668 | -36.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,104 | €3,389 | -€715 | -17.4% |
| Non-recurring operating charges | 66A | €1,974 | €0 | -€1,974 | -100% |
| Gross operating margin | 9900 | €114,304 | €33,702 | -€80,602 | -70.5% |
| Operating profit (loss) | 9901 | €26,357 | €24,317 | -€2,040 | -7.7% |
| Financial income | 75/76B | €147 | €0 | -€147 | -100.0% |
| Recurring financial income | 75 | €147 | €0 | -€147 | -100.0% |
| Financial charges | 65/66B | €9,144 | €7,031 | -€2,112 | -23.1% |
| Recurring financial charges | 65 | €9,144 | €7,031 | -€2,112 | -23.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €17,360 | €17,286 | -€75 | -0.4% |
| Income taxes | 67/77 | €4,500 | €6,541 | +€2,041 | +45.3% |
| Profit (loss) for the period | 9904 | €12,861 | €10,745 | -€2,116 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €12,861 | €10,745 | -€2,116 | -16.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.