PK ELECTRONICS: 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
PK ELECTRONICS
NACE 46.643, Wholesale of electrical equipment, including installation materials
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€173,157
2024 · -€120,028-€53,129
Equity
€1.4m
2024 · €1.6m-€173,157
Cash
€169,554
2024 · €88,339+€81,215
Balance sheet total
€3.6m
2024 · €3.8m-€220,348
Largest movements
Assets
- Tangible fixed assets -€305,384
down €305,384 (-8.3%), from €3.7m to €3.4m
of which Land and buildings: -€290,739
- Cash +€81,215
up €81,215 (+91.9%), from €88,339 to €169,554
mainly Depreciation (+€310,085) and Accrued charges and deferred income (+€13,026)
Equity and liabilities
- Profit (loss) carried forward -€167,861
down €167,861 (-40.8%), from -€411,085 to -€578,945
- Debts after one year -€62,164
down €62,164 (-3.0%), from €2.0m to €2.0m
Income statement
- Depreciation +€39,054
up €39,054 (+14.4%), from €271,032 to €310,085
- Financial charges +€29,342
up €29,342 (+48.1%), from €60,951 to €90,294
- Gross operating margin +€25,173
up €25,173 (+11.0%), from €227,861 to €253,034
- Other operating charges +€5,832
up €5,832 (+27.2%), from €21,427 to €27,260
- Financial income -€3,673
down €3,673 (-56.5%), from €6,498 to €2,825
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
-€120,028
Gross operating margin
+€25,173
Depreciation
-€39,054
Write-downs
-€1,899
Other operating charges
-€5,832
Financial income
-€3,673
Financial charges
-€29,342
Taxes
+€1,977
Deferred taxes and other
-€479
Result 2025
-€173,157
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
+€146,240
Investment
-€4,701
Financing
-€60,323
Cash 2024
€88,339
From operations (derived)
+€146,240
Net result for the year
-€173,157
Depreciation
+€310,085
Stocks and contracts
+€4,426
Receivables within one year
-€3,615
Deferred charges and accrued income
-€4,632
Provisions
-€1,766
Trade debts
-€10,585
Tax, wage and social debts
+€2,412
Other debts
+€10,045
Accrued charges and deferred income
+€13,026
Investment (derived)
-€4,701
Investment in fixed assets (net)
-€4,701
Financing
-€60,323
Debts after one year
-€62,164
Current portion of long-term debt
+€1,842
Cash 2025
€169,554
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,813,632 | €3,593,284 | -€220,348 | -5.8% |
| Fixed assets | 21/28 | €3,675,416 | €3,370,032 | -€305,384 | -8.3% |
| Tangible fixed assets | 22/27 | €3,675,416 | €3,370,032 | -€305,384 | -8.3% |
| Land and buildings | 22 | €3,625,910 | €3,335,171 | -€290,739 | -8.0% |
| Plant, machinery and equipment | 23 | €15,201 | €12,083 | -€3,118 | -20.5% |
| Furniture and vehicles | 24 | €34,305 | €22,779 | -€11,526 | -33.6% |
| Current assets | 29/58 | €138,216 | €223,252 | +€85,036 | +61.5% |
| Stocks and contracts in progress | 3 | €10,911 | €6,485 | -€4,426 | -40.6% |
| Stocks | 30/36 | €10,911 | €6,485 | -€4,426 | -40.6% |
| Amounts receivable within one year | 40/41 | €8,279 | €11,894 | +€3,615 | +43.7% |
| Trade receivables | 40 | €8,019 | €11,894 | +€3,875 | +48.3% |
| Other amounts receivable | 41 | €260 | €0 | -€260 | -100.0% |
| Current investments | 50/53 | €19,500 | €19,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €88,339 | €169,554 | +€81,215 | +91.9% |
| Deferred charges and accrued income | 490/1 | €11,186 | €15,818 | +€4,632 | +41.4% |
| Total equity and liabilities | 10/49 | €3,813,632 | €3,593,284 | -€220,348 | -5.8% |
| Equity | 10/15 | €1,565,865 | €1,392,708 | -€173,157 | -11.1% |
| Contributions | 10/11 | €1,882,500 | €1,882,500 | = | 0.0% |
| Capital | 10 | €1,882,500 | €1,882,500 | = | 0.0% |
| Issued capital | 100 | €1,882,500 | €1,882,500 | = | 0.0% |
| Reserves | 13 | €94,450 | €89,153 | -€5,297 | -5.6% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €79,450 | €74,153 | -€5,297 | -6.7% |
| Profit (loss) carried forward | 14 | -€411,085 | -€578,945 | -€167,861 | -40.8% |
| Provisions and deferred taxes | 16 | €26,483 | €24,718 | -€1,766 | -6.7% |
| Deferred taxes | 168 | €26,483 | €24,718 | -€1,766 | -6.7% |
| Amounts payable | 17/49 | €2,221,283 | €2,175,858 | -€45,425 | -2.0% |
| Amounts payable after more than one year | 17 | €2,045,329 | €1,983,165 | -€62,164 | -3.0% |
| Financial debts | 170/4 | €2,045,329 | €1,983,165 | -€62,164 | -3.0% |
| Amounts payable within one year | 42/48 | €143,735 | €147,448 | +€3,713 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €60,323 | €62,164 | +€1,842 | +3.1% |
| Trade debts | 44 | €16,456 | €5,871 | -€10,585 | -64.3% |
| Suppliers | 440/4 | €16,456 | €5,871 | -€10,585 | -64.3% |
| Taxes, remuneration and social security | 45 | €9,060 | €11,472 | +€2,412 | +26.6% |
| Taxes | 450/3 | €9,060 | €11,472 | +€2,412 | +26.6% |
| Other amounts payable | 47/48 | €57,896 | €67,940 | +€10,045 | +17.3% |
| Accrued charges and deferred income | 492/3 | €32,219 | €45,245 | +€13,026 | +40.4% |
| Non-recurring operating income | 76A | €17,956 | €0 | -€17,956 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €271,032 | €310,085 | +€39,054 | +14.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,899 | +€1,899 | |
| Other operating charges | 640/8 | €21,427 | €27,260 | +€5,832 | +27.2% |
| Gross operating margin | 9900 | €227,861 | €253,034 | +€25,173 | +11.0% |
| Operating profit (loss) | 9901 | -€64,598 | -€86,210 | -€21,612 | -33.5% |
| Financial income | 75/76B | €6,498 | €2,825 | -€3,673 | -56.5% |
| Recurring financial income | 75 | €6,498 | €2,825 | -€3,673 | -56.5% |
| Financial charges | 65/66B | €60,951 | €90,294 | +€29,342 | +48.1% |
| Recurring financial charges | 65 | €60,951 | €90,294 | +€29,342 | +48.1% |
| Profit (loss) for the period before taxes | 9903 | -€119,051 | -€173,678 | -€54,627 | -45.9% |
| Transfer from deferred taxes | 780 | €2,245 | €1,766 | -€479 | -21.3% |
| Income taxes | 67/77 | €3,222 | €1,245 | -€1,977 | -61.4% |
| Profit (loss) for the period | 9904 | -€120,028 | -€173,157 | -€53,129 | -44.3% |
| Transfer from tax-exempt reserves | 789 | €6,734 | €5,297 | -€1,437 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€113,295 | -€167,861 | -€54,566 | -48.2% |
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 5 October 2026 via checked.be.