PJVK: 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.
PJVK
Largest movements
- Current investments -€351,729
down €351,729 (-100.0%), from €351,729 to €0
- Cash +€243,673
up €243,673 (+234.0%), from €104,122 to €347,795
mainly Other debts (+€451,421) and Current investments (+€351,729)
- Deferred charges and accrued income +€15,294
up €15,294 (+8552.5%), from €179 to €15,472
- Profit (loss) carried forward -€519,663
down €519,663 (-100.0%), from €519,663 to €0
- Other debts +€451,421
up €451,421 (+13842.0%), from €3,261 to €454,682
- Debts after one year -€30,561
down €30,561 (-24.5%), from €124,631 to €94,069
- Tax, wage and social debts +€13,500
new in 2025: €13,500
of which Remuneration and social security: +€7,374
- Current portion of long-term debt -€12,627
down €12,627 (-27.6%), from €45,693 to €33,066
- Taxes +€24,654
up €24,654 (+49.5%), from €49,840 to €74,494
- Gross operating margin -€18,519
down €18,519 (-5.0%), from €370,576 to €352,057
- Staff costs +€10,407
up €10,407 (+24.4%), from €42,633 to €53,040
- Depreciation +€9,312
up €9,312 (+21.4%), from €43,587 to €52,899
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €714,717 | €614,916 | -€99,800 | -14.0% |
| Fixed assets | 21/28 | €258,687 | €251,648 | -€7,038 | -2.7% |
| Tangible fixed assets | 22/27 | €258,687 | €251,648 | -€7,038 | -2.7% |
| Land and buildings | 22 | €73,199 | €0 | -€73,199 | -100.0% |
| Plant, machinery and equipment | 23 | €15,930 | €11,748 | -€4,182 | -26.3% |
| Furniture and vehicles | 24 | €1,313 | €596 | -€718 | -54.6% |
| Other tangible fixed assets | 26 | €168,244 | €239,304 | +€71,060 | +42.2% |
| Current assets | 29/58 | €456,030 | €363,268 | -€92,762 | -20.3% |
| Current investments | 50/53 | €351,729 | €0 | -€351,729 | -100.0% |
| Cash at bank and in hand | 54/58 | €104,122 | €347,795 | +€243,673 | +234.0% |
| Deferred charges and accrued income | 490/1 | €179 | €15,472 | +€15,294 | +8552.5% |
| Total equity and liabilities | 10/49 | €714,717 | €614,916 | -€99,800 | -14.0% |
| Equity | 10/15 | €538,263 | €18,600 | -€519,663 | -96.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €519,663 | €0 | -€519,663 | -100.0% |
| Amounts payable | 17/49 | €176,453 | €596,316 | +€419,863 | +237.9% |
| Amounts payable after more than one year | 17 | €124,631 | €94,069 | -€30,561 | -24.5% |
| Financial debts | 170/4 | €124,631 | €94,069 | -€30,561 | -24.5% |
| Amounts payable within one year | 42/48 | €51,822 | €502,247 | +€450,424 | +869.2% |
| Current portion of amounts payable after more than one year | 42 | €45,693 | €33,066 | -€12,627 | -27.6% |
| Trade debts | 44 | €2,868 | €999 | -€1,869 | -65.2% |
| Suppliers | 440/4 | €2,868 | €999 | -€1,869 | -65.2% |
| Taxes, remuneration and social security | 45 | - | €13,500 | +€13,500 | |
| Taxes | 450/3 | - | €6,126 | +€6,126 | |
| Remuneration and social security | 454/9 | - | €7,374 | +€7,374 | |
| Other amounts payable | 47/48 | €3,261 | €454,682 | +€451,421 | +13842.0% |
| Remuneration, social security and pensions | 62 | €42,633 | €53,040 | +€10,407 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,587 | €52,899 | +€9,312 | +21.4% |
| Other operating charges | 640/8 | €3,735 | €3,505 | -€230 | -6.2% |
| Gross operating margin | 9900 | €370,576 | €352,057 | -€18,519 | -5.0% |
| Operating profit (loss) | 9901 | €280,621 | €242,613 | -€38,008 | -13.5% |
| Financial income | 75/76B | €1,910 | €3,711 | +€1,801 | +94.3% |
| Recurring financial income | 75 | €1,910 | €3,711 | +€1,801 | +94.3% |
| Financial charges | 65/66B | €2,265 | €3,338 | +€1,073 | +47.4% |
| Recurring financial charges | 65 | €2,265 | €3,338 | +€1,073 | +47.4% |
| Profit (loss) for the period before taxes | 9903 | €280,267 | €242,987 | -€37,280 | -13.3% |
| Income taxes | 67/77 | €49,840 | €74,494 | +€24,654 | +49.5% |
| Profit (loss) for the period | 9904 | €230,427 | €168,492 | -€61,935 | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €230,427 | €168,492 | -€61,935 | -26.9% |
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 12 October 2026 via checked.be.