PJP: 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.
What changed
PJP
NACE 93.110, Operation of sports facilities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€28,527
2024 · €8,206+€20,321
Equity
€251,121
2024 · €222,594+€28,527
Cash
€8,796
2024 · €15,428-€6,631
Balance sheet total
€796,255
2024 · €627,995+€168,260
Largest movements
Assets
- Tangible fixed assets +€177,615
up €177,615 (+31.0%), from €572,623 to €750,238
of which Land and buildings: +€179,196
Equity and liabilities
- Debts after one year +€104,900
up €104,900 (+32.6%), from €321,652 to €426,552
- Profit (loss) carried forward +€28,527
up €28,527 (+27.8%), from €102,594 to €131,121
- Current portion of long-term debt +€16,970
up €16,970 (+29.2%), from €58,129 to €75,100
- Other debts +€15,293
up €15,293, from €0 to €15,293
Income statement
- Gross operating margin +€22,876
up €22,876 (+25.5%), from €89,651 to €112,527
- Depreciation +€1,943
up €1,943 (+3.4%), from €56,671 to €58,613
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
€8,206
Gross operating margin
+€22,876
Depreciation
-€1,943
Other operating charges
+€780
Other operating items
-€750
Financial income
-€334
Financial charges
-€719
Taxes
+€411
Result 2025
€28,527
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.
From operations
+€109,227
Investment
-€237,729
Financing
+€121,871
Cash 2024
€15,428
From operations (derived)
+€109,227
Net result for the year
+€28,527
Depreciation
+€58,613
Stocks and contracts
+€717
Receivables within one year
+€3,230
Smaller working-capital items
+€409
Trade debts
+€2,829
Tax, wage and social debts
+€1,242
Advances received
-€1,635
Other debts
+€15,293
Investment (derived)
-€237,729
Investment in fixed assets (net)
-€237,729
Financing
+€121,871
Debts after one year
+€104,900
Current portion of long-term debt
+€16,970
Cash 2025
€8,796
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €627,995 | €796,255 | +€168,260 | +26.8% |
| Fixed assets | 21/28 | €572,623 | €751,738 | +€179,115 | +31.3% |
| Tangible fixed assets | 22/27 | €572,623 | €750,238 | +€177,615 | +31.0% |
| Land and buildings | 22 | €560,570 | €739,766 | +€179,196 | +32.0% |
| Plant, machinery and equipment | 23 | €7,532 | €7,157 | -€375 | -5.0% |
| Furniture and vehicles | 24 | €4,521 | €3,315 | -€1,206 | -26.7% |
| Financial fixed assets | 28 | - | €1,500 | +€1,500 | |
| Current assets | 29/58 | €55,371 | €44,516 | -€10,855 | -19.6% |
| Stocks and contracts in progress | 3 | €8,288 | €7,570 | -€717 | -8.7% |
| Stocks | 30/36 | €8,288 | €7,570 | -€717 | -8.7% |
| Amounts receivable within one year | 40/41 | €23,328 | €20,098 | -€3,230 | -13.8% |
| Trade receivables | 40 | €22,284 | €19,526 | -€2,757 | -12.4% |
| Other amounts receivable | 41 | €1,044 | €571 | -€473 | -45.3% |
| Cash at bank and in hand | 54/58 | €15,428 | €8,796 | -€6,631 | -43.0% |
| Deferred charges and accrued income | 490/1 | €8,328 | €8,052 | -€276 | -3.3% |
| Total equity and liabilities | 10/49 | €627,995 | €796,255 | +€168,260 | +26.8% |
| Equity | 10/15 | €222,594 | €251,121 | +€28,527 | +12.8% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,594 | €131,121 | +€28,527 | +27.8% |
| Amounts payable | 17/49 | €405,401 | €545,133 | +€139,733 | +34.5% |
| Amounts payable after more than one year | 17 | €321,652 | €426,552 | +€104,900 | +32.6% |
| Financial debts | 170/4 | €321,652 | €426,552 | +€104,900 | +32.6% |
| Amounts payable within one year | 42/48 | €83,749 | €118,448 | +€34,700 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €58,129 | €75,100 | +€16,970 | +29.2% |
| Trade debts | 44 | €20,489 | €23,318 | +€2,829 | +13.8% |
| Suppliers | 440/4 | €20,489 | €23,318 | +€2,829 | +13.8% |
| Advances received on contracts in progress | 46 | €1,815 | €180 | -€1,635 | -90.1% |
| Taxes, remuneration and social security | 45 | €3,315 | €4,557 | +€1,242 | +37.4% |
| Taxes | 450/3 | €3,315 | €4,557 | +€1,242 | +37.4% |
| Other amounts payable | 47/48 | €0 | €15,293 | +€15,293 | |
| Accrued charges and deferred income | 492/3 | - | €133 | +€133 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,671 | €58,613 | +€1,943 | +3.4% |
| Other operating charges | 640/8 | €4,402 | €3,621 | -€780 | -17.7% |
| Non-recurring operating charges | 66A | - | €750 | +€750 | |
| Gross operating margin | 9900 | €89,651 | €112,527 | +€22,876 | +25.5% |
| Operating profit (loss) | 9901 | €28,578 | €49,542 | +€20,964 | +73.4% |
| Financial income | 75/76B | €480 | €145 | -€334 | -69.7% |
| Recurring financial income | 75 | €480 | €145 | -€334 | -69.7% |
| Financial charges | 65/66B | €17,534 | €18,254 | +€719 | +4.1% |
| Recurring financial charges | 65 | €17,534 | €18,254 | +€719 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €11,524 | €31,434 | +€19,910 | +172.8% |
| Income taxes | 67/77 | €3,318 | €2,907 | -€411 | -12.4% |
| Profit (loss) for the period | 9904 | €8,206 | €28,527 | +€20,321 | +247.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,206 | €28,527 | +€20,321 | +247.6% |
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 7 October 2026 via checked.be.