PJOUKOVS: 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.
PJOUKOVS
Largest movements
- Cash +€64,995
up €64,995 (+23.6%), from €274,938 to €339,933
mainly Net result for the year (+€159,299) and Deferred charges and accrued income (+€1,867)
- Receivables within one year +€15,792
up €15,792 (+405%), from €3,900 to €19,691
- Reserves +€159,299
up €159,299 (+192%), from €82,949 to €242,247
of which Distributable reserves: +€179,759
- Other debts -€50,449
down €50,449 (-13.4%), from €377,543 to €327,094
- Tax, wage and social debts -€29,283
down €29,283 (-63.7%), from €45,963 to €16,680
of which Taxes: -€26,283
- Gross operating margin -€66,238
down €66,238 (-22.0%), from €301,061 to €234,823
- Financial income -€5,659
down €5,659 (-62.2%), from €9,097 to €3,437
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 | €768,150 | €847,901 | +€79,751 | +10.4% |
| Fixed assets | 21/28 | €12,441 | €11,248 | -€1,193 | -9.6% |
| Tangible fixed assets | 22/27 | €12,441 | €11,248 | -€1,193 | -9.6% |
| Plant, machinery and equipment | 23 | €792 | €903 | +€111 | +14.0% |
| Furniture and vehicles | 24 | €1,949 | €644 | -€1,304 | -66.9% |
| Other tangible fixed assets | 26 | €9,700 | €9,700 | = | 0.0% |
| Current assets | 29/58 | €755,709 | €836,653 | +€80,944 | +10.7% |
| Amounts receivable within one year | 40/41 | €3,900 | €19,691 | +€15,792 | +405% |
| Other amounts receivable | 41 | €3,900 | €19,691 | +€15,792 | +405% |
| Current investments | 50/53 | €370,564 | €372,589 | +€2,024 | +0.5% |
| Cash at bank and in hand | 54/58 | €274,938 | €339,933 | +€64,995 | +23.6% |
| Deferred charges and accrued income | 490/1 | €106,307 | €104,440 | -€1,867 | -1.8% |
| Total equity and liabilities | 10/49 | €768,150 | €847,901 | +€79,751 | +10.4% |
| Equity | 10/15 | €287,549 | €446,847 | +€159,299 | +55.4% |
| Contributions | 10/11 | €204,600 | €204,600 | = | 0.0% |
| Reserves | 13 | €82,949 | €242,247 | +€159,299 | +192% |
| Non-distributable reserves | 130/1 | €20,460 | - | -€20,460 | |
| Reserves not available under the articles | 1311 | €20,460 | - | -€20,460 | |
| Distributable reserves | 133 | €62,489 | €242,247 | +€179,759 | +288% |
| Provisions and deferred taxes | 16 | €39,560 | €39,560 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €39,560 | €39,560 | = | 0.0% |
| Pensions and similar obligations | 160 | €39,560 | €39,560 | = | 0.0% |
| Amounts payable | 17/49 | €441,042 | €361,494 | -€79,548 | -18.0% |
| Amounts payable within one year | 42/48 | €441,042 | €361,494 | -€79,548 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €16,667 | €16,924 | +€258 | +1.5% |
| Trade debts | 44 | €869 | €796 | -€73 | -8.4% |
| Suppliers | 440/4 | €869 | €796 | -€73 | -8.4% |
| Taxes, remuneration and social security | 45 | €45,963 | €16,680 | -€29,283 | -63.7% |
| Taxes | 450/3 | €42,963 | €16,680 | -€26,283 | -61.2% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €377,543 | €327,094 | -€50,449 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €801 | €834 | +€34 | +4.2% |
| Gross operating margin | 9900 | €301,061 | €234,823 | -€66,238 | -22.0% |
| Operating profit (loss) | 9901 | €300,260 | €233,989 | -€66,271 | -22.1% |
| Financial income | 75/76B | €9,097 | €3,437 | -€5,659 | -62.2% |
| Recurring financial income | 75 | €9,097 | €3,437 | -€5,659 | -62.2% |
| Financial charges | 65/66B | €1,759 | €1,958 | +€199 | +11.3% |
| Recurring financial charges | 65 | €1,759 | €1,958 | +€199 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €307,598 | €235,468 | -€72,130 | -23.4% |
| Income taxes | 67/77 | €73,492 | €76,169 | +€2,677 | +3.6% |
| Profit (loss) for the period | 9904 | €234,106 | €159,299 | -€74,807 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €234,106 | €159,299 | -€74,807 | -32.0% |
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.