PLF-Invest: what changed
PLF-Invest
Largest movements
- Tangible fixed assets +€173,984
up €173,984 (+5.4%), from €3.2m to €3.4m
of which Land and buildings: +€174,240
- Stocks and contracts +€91,899
new in 2025: €91,899
- Cash -€53,564
down €53,564 (-91.3%), from €58,644 to €5,080
mainly Investment in fixed assets (net) (-€320,233) and Net result for the year (-€103,428)
- Debts after one year +€205,153
up €205,153 (+10.2%), from €2.0m to €2.2m
- Reserves -€57,274
down €57,274 (-6.8%), from €836,551 to €779,276
- Other debts +€47,387
up €47,387 (+940%), from €5,042 to €52,430
- Revaluation surpluses -€46,154
down €46,154 (-14.2%), from €324,215 to €278,061
- Gross operating margin +€62,213
up €62,213 (+44.1%), from €140,916 to €203,129
- Financial charges +€41,658
up €41,658 (+83.6%), from €49,812 to €91,470
- Depreciation +€31,504
up €31,504 (+27.5%), from €114,745 to €146,249
- Financial income -€3,411
down €3,411 (-88.6%), from €3,850 to €439
of which Non-recurring financial income: -€2,554
- Staff costs -€3,087
down €3,087 (-7.0%), from €44,341 to €41,254
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,327,592 | €3,514,600 | +€187,007 | +5.6% |
| Fixed assets | 21/28 | €3,231,665 | €3,405,649 | +€173,984 | +5.4% |
| Tangible fixed assets | 22/27 | €3,231,665 | €3,405,649 | +€173,984 | +5.4% |
| Land and buildings | 22 | €3,230,936 | €3,405,176 | +€174,240 | +5.4% |
| Furniture and vehicles | 24 | €729 | €473 | -€256 | -35.1% |
| Current assets | 29/58 | €95,928 | €108,951 | +€13,024 | +13.6% |
| Stocks and contracts in progress | 3 | - | €91,899 | +€91,899 | |
| Stocks | 30/36 | - | €91,899 | +€91,899 | |
| Amounts receivable within one year | 40/41 | €37,050 | €11,973 | -€25,077 | -67.7% |
| Trade receivables | 40 | €8,041 | €11,973 | +€3,932 | +48.9% |
| Other amounts receivable | 41 | €29,009 | €0 | -€29,009 | -100% |
| Cash at bank and in hand | 54/58 | €58,644 | €5,080 | -€53,564 | -91.3% |
| Deferred charges and accrued income | 490/1 | €234 | €0 | -€234 | -100% |
| Total equity and liabilities | 10/49 | €3,327,592 | €3,514,600 | +€187,007 | +5.6% |
| Equity | 10/15 | €1,206,684 | €1,103,255 | -€103,428 | -8.6% |
| Contributions | 10/11 | €45,918 | €45,918 | = | 0.0% |
| Revaluation surpluses | 12 | €324,215 | €278,061 | -€46,154 | -14.2% |
| Reserves | 13 | €836,551 | €779,276 | -€57,274 | -6.8% |
| Distributable reserves | 133 | €836,551 | €779,276 | -€57,274 | -6.8% |
| Amounts payable | 17/49 | €2,120,909 | €2,411,344 | +€290,436 | +13.7% |
| Amounts payable after more than one year | 17 | €2,009,460 | €2,214,613 | +€205,153 | +10.2% |
| Financial debts | 170/4 | €2,009,460 | €2,214,613 | +€205,153 | +10.2% |
| Amounts payable within one year | 42/48 | €111,449 | €196,731 | +€85,282 | +76.5% |
| Current portion of amounts payable after more than one year | 42 | €84,834 | €112,389 | +€27,554 | +32.5% |
| Trade debts | 44 | €11,883 | €21,099 | +€9,217 | +77.6% |
| Suppliers | 440/4 | €11,883 | €21,099 | +€9,217 | +77.6% |
| Advances received on contracts in progress | 46 | €6,433 | €6,367 | -€66 | -1.0% |
| Taxes, remuneration and social security | 45 | €3,257 | €4,446 | +€1,189 | +36.5% |
| Taxes | 450/3 | €77 | €0 | -€77 | -100% |
| Remuneration and social security | 454/9 | €3,180 | €4,446 | +€1,266 | +39.8% |
| Other amounts payable | 47/48 | €5,042 | €52,430 | +€47,387 | +940% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €44,341 | €41,254 | -€3,087 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,745 | €146,249 | +€31,504 | +27.5% |
| Other operating charges | 640/8 | €26,904 | €28,024 | +€1,120 | +4.2% |
| Gross operating margin | 9900 | €140,916 | €203,129 | +€62,213 | +44.1% |
| Operating profit (loss) | 9901 | -€45,074 | -€12,398 | +€32,676 | +72.5% |
| Financial income | 75/76B | €3,850 | €439 | -€3,411 | -88.6% |
| Recurring financial income | 75 | €1,296 | €439 | -€857 | -66.1% |
| Non-recurring financial income | 76B | €2,554 | - | -€2,554 | |
| Financial charges | 65/66B | €49,812 | €91,470 | +€41,658 | +83.6% |
| Recurring financial charges | 65 | €49,812 | €91,470 | +€41,658 | +83.6% |
| Profit (loss) for the period before taxes | 9903 | -€91,035 | -€103,428 | -€12,393 | -13.6% |
| Income taxes | 67/77 | €77 | €0 | -€77 | -100% |
| Profit (loss) for the period | 9904 | -€91,112 | -€103,428 | -€12,316 | -13.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€91,112 | -€103,428 | -€12,316 | -13.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.