PKM: 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.
PKM
Largest movements
- Tangible fixed assets -€22,570
down €22,570 (-12.3%), from €183,123 to €160,553
of which Land and buildings: -€11,363
- Debts after one year -€17,749
down €17,749 (-14.4%), from €123,344 to €105,595
- Trade debts -€17,038
down €17,038 (-68.5%), from €24,884 to €7,846
- Current portion of long-term debt +€16,357
up €16,357 (+95.8%), from €17,082 to €33,440
- Other debts -€4,800
down €4,800 (-3.6%), from €132,917 to €128,117
- Tax, wage and social debts +€3,820
up €3,820 (+38.5%), from €9,918 to €13,738
of which Taxes: +€3,775
- Gross operating margin +€35,394
up €35,394 (+50.6%), from €69,970 to €105,364
- Depreciation -€5,384
down €5,384 (-19.3%), from €27,954 to €22,570
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 | €217,923 | €199,205 | -€18,718 | -8.6% |
| Fixed assets | 21/28 | €183,423 | €160,853 | -€22,570 | -12.3% |
| Tangible fixed assets | 22/27 | €183,123 | €160,553 | -€22,570 | -12.3% |
| Land and buildings | 22 | €136,352 | €124,990 | -€11,363 | -8.3% |
| Plant, machinery and equipment | 23 | €7,991 | €5,132 | -€2,859 | -35.8% |
| Furniture and vehicles | 24 | €2,864 | €1,952 | -€912 | -31.8% |
| Other tangible fixed assets | 26 | €35,916 | €28,480 | -€7,436 | -20.7% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €34,500 | €38,351 | +€3,852 | +11.2% |
| Stocks and contracts in progress | 3 | €18,528 | €18,530 | +€2 | 0.0% |
| Stocks | 30/36 | €18,528 | €18,530 | +€2 | 0.0% |
| Amounts receivable within one year | 40/41 | €995 | €2,659 | +€1,664 | +167.3% |
| Trade receivables | 40 | €995 | €2,659 | +€1,664 | +167.3% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €13,957 | €15,375 | +€1,418 | +10.2% |
| Deferred charges and accrued income | 490/1 | €1,020 | €1,787 | +€767 | +75.3% |
| Total equity and liabilities | 10/49 | €217,923 | €199,205 | -€18,718 | -8.6% |
| Equity | 10/15 | -€90,223 | -€89,531 | +€692 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,082 | €1,082 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,082 | €1,082 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,082 | €1,082 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,905 | -€109,213 | +€692 | +0.6% |
| Amounts payable | 17/49 | €308,146 | €288,736 | -€19,410 | -6.3% |
| Amounts payable after more than one year | 17 | €123,344 | €105,595 | -€17,749 | -14.4% |
| Financial debts | 170/4 | €123,344 | €105,595 | -€17,749 | -14.4% |
| Amounts payable within one year | 42/48 | €184,802 | €183,141 | -€1,661 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €17,082 | €33,440 | +€16,357 | +95.8% |
| Trade debts | 44 | €24,884 | €7,846 | -€17,038 | -68.5% |
| Suppliers | 440/4 | €24,884 | €7,846 | -€17,038 | -68.5% |
| Taxes, remuneration and social security | 45 | €9,918 | €13,738 | +€3,820 | +38.5% |
| Taxes | 450/3 | €4,959 | €8,734 | +€3,775 | +76.1% |
| Remuneration and social security | 454/9 | €4,959 | €5,004 | +€44 | +0.9% |
| Other amounts payable | 47/48 | €132,917 | €128,117 | -€4,800 | -3.6% |
| Remuneration, social security and pensions | 62 | €75,767 | €74,979 | -€788 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,954 | €22,570 | -€5,384 | -19.3% |
| Other operating charges | 640/8 | €4,786 | €3,866 | -€920 | -19.2% |
| Gross operating margin | 9900 | €69,970 | €105,364 | +€35,394 | +50.6% |
| Operating profit (loss) | 9901 | -€38,537 | €3,949 | +€42,486 | |
| Financial charges | 65/66B | €2,917 | €3,257 | +€340 | +11.7% |
| Recurring financial charges | 65 | €2,917 | €3,257 | +€340 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | -€41,454 | €692 | +€42,146 | |
| Profit (loss) for the period | 9904 | -€41,454 | €692 | +€42,146 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,454 | €692 | +€42,146 |
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 3 October 2026 via checked.be.