PKF Belgium: 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.
PKF Belgium
Largest movements
- Receivables within one year +€9.3m
up €9.3m (+211%), from €4.4m to €13.7m
of which Other amounts receivable: +€9.3m
- Current investments +€2.5m
new in 2025: €2.5m
- Cash +€733,596
up €733,596 (+447%), from €164,077 to €897,673
mainly Debts after one year (+€7.4m) and Other debts (+€2.9m)
- Debts after one year +€7.4m
up €7.4m (+24.8%), from €29.7m to €37.1m
- Other debts +€2.9m
up €2.9m (+2,507%), from €117,424 to €3.1m
- Current portion of long-term debt +€1.2m
up €1.2m (+40.0%), from €3.0m to €4.2m
- Accrued charges and deferred income +€733,424
up €733,424 (+320%), from €229,026 to €962,450
- Financial income -€3.5m
down €3.5m (-98.9%), from €3.5m to €39,628
- Gross operating margin +€1.9m
up €1.9m (+310%), from €619,513 to €2.5m
- Financial charges +€1.4m
up €1.4m (+259%), from €552,694 to €2.0m
- Taxes +€132,600
up €132,600 (+798%), from €16,608 to €149,208
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 | €47,371,521 | €59,972,453 | +€12.6m | +26.6% |
| Fixed assets | 21/28 | €42,793,751 | €42,858,004 | +€64,253 | +0.2% |
| Intangible fixed assets | 21 | - | €64,253 | +€64,253 | |
| Financial fixed assets | 28 | €42,793,751 | €42,793,751 | = | 0.0% |
| Current assets | 29/58 | €4,577,770 | €17,114,450 | +€12.5m | +274% |
| Amounts receivable within one year | 40/41 | €4,413,694 | €13,711,401 | +€9.3m | +211% |
| Trade receivables | 40 | - | €26,971 | +€26,971 | |
| Other amounts receivable | 41 | €4,413,694 | €13,684,430 | +€9.3m | +210% |
| Current investments | 50/53 | - | €2,500,000 | +€2.5m | |
| Cash at bank and in hand | 54/58 | €164,077 | €897,673 | +€733,596 | +447% |
| Deferred charges and accrued income | 490/1 | - | €5,376 | +€5,376 | |
| Total equity and liabilities | 10/49 | €47,371,521 | €59,972,453 | +€12.6m | +26.6% |
| Equity | 10/15 | €14,049,824 | €14,489,672 | +€439,848 | +3.1% |
| Contributions | 10/11 | €10,500,000 | €10,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,549,824 | €3,989,672 | +€439,848 | +12.4% |
| Amounts payable | 17/49 | €33,321,697 | €45,482,781 | +€12.2m | +36.5% |
| Amounts payable after more than one year | 17 | €29,730,962 | €37,100,000 | +€7.4m | +24.8% |
| Financial debts | 170/4 | €29,730,962 | €37,100,000 | +€7.4m | +24.8% |
| Amounts payable within one year | 42/48 | €3,361,709 | €7,420,331 | +€4.1m | +121% |
| Current portion of amounts payable after more than one year | 42 | €3,000,000 | €4,200,000 | +€1.2m | +40.0% |
| Financial debts | 43 | - | €37,878 | +€37,878 | |
| Credit institutions | 430/8 | - | €37,878 | +€37,878 | |
| Trade debts | 44 | €87,233 | €62,655 | -€24,578 | -28.2% |
| Suppliers | 440/4 | €87,233 | €62,655 | -€24,578 | -28.2% |
| Taxes, remuneration and social security | 45 | €157,053 | €58,535 | -€98,517 | -62.7% |
| Taxes | 450/3 | €157,053 | €58,535 | -€98,517 | -62.7% |
| Other amounts payable | 47/48 | €117,424 | €3,061,264 | +€2.9m | +2,507% |
| Accrued charges and deferred income | 492/3 | €229,026 | €962,450 | +€733,424 | +320% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,880 | +€5,880 | |
| Other operating charges | 640/8 | €387 | €500 | +€112 | +29.0% |
| Gross operating margin | 9900 | €619,513 | €2,541,060 | +€1.9m | +310% |
| Operating profit (loss) | 9901 | €619,126 | €2,534,681 | +€1.9m | +309% |
| Financial income | 75/76B | €3,500,000 | €39,628 | -€3.5m | -98.9% |
| Recurring financial income | 75 | €3,500,000 | €39,628 | -€3.5m | -98.9% |
| Financial charges | 65/66B | €552,694 | €1,985,253 | +€1.4m | +259% |
| Recurring financial charges | 65 | €552,694 | €1,985,253 | +€1.4m | +259% |
| Profit (loss) for the period before taxes | 9903 | €3,566,432 | €589,056 | -€3.0m | -83.5% |
| Income taxes | 67/77 | €16,608 | €149,208 | +€132,600 | +798% |
| Profit (loss) for the period | 9904 | €3,549,824 | €439,848 | -€3.1m | -87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,549,824 | €439,848 | -€3.1m | -87.6% |
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 22 October 2026 via checked.be.