PM: 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.
PM
Largest movements
- Receivables within one year +€9,216
up €9,216 (+29.9%), from €30,782 to €39,998
of which Other amounts receivable: +€7,111
- Tangible fixed assets +€8,238
up €8,238 (+100.9%), from €8,165 to €16,403
of which Furniture and vehicles: +€10,680
- Cash -€7,961
down €7,961 (-20.0%), from €39,788 to €31,828
mainly Investment in fixed assets (net) (-€13,990) and Receivables within one year (-€9,216)
- Stocks and contracts +€1,882
new in 2025: €1,882
- Debts after one year +€4,681
new in 2025: €4,681
- Tax, wage and social debts -€4,177
down €4,177 (-26.1%), from €16,000 to €11,823
of which Taxes: -€7,041
- Trade debts +€4,114
up €4,114 (+33.5%), from €12,300 to €16,414
- Current portion of long-term debt +€3,823
new in 2025: €3,823
- Profit (loss) carried forward +€2,934
up €2,934 (+7.3%), from €40,435 to €43,369
- Gross operating margin +€14,612
up €14,612 (+27.0%), from €54,152 to €68,764
- Staff costs +€14,108
up €14,108 (+33.4%), from €42,195 to €56,303
- Depreciation +€2,399
up €2,399 (+71.5%), from €3,353 to €5,752
- Other operating charges -€1,449
down €1,449 (-50.3%), from €2,884 to €1,435
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 | €78,735 | €90,110 | +€11,375 | +14.4% |
| Fixed assets | 21/28 | €8,165 | €16,403 | +€8,238 | +100.9% |
| Tangible fixed assets | 22/27 | €8,165 | €16,403 | +€8,238 | +100.9% |
| Plant, machinery and equipment | 23 | €5,429 | €3,284 | -€2,145 | -39.5% |
| Furniture and vehicles | 24 | €2,438 | €13,118 | +€10,680 | +438.1% |
| Other tangible fixed assets | 26 | €298 | - | -€298 | |
| Current assets | 29/58 | €70,570 | €73,707 | +€3,137 | +4.4% |
| Stocks and contracts in progress | 3 | - | €1,882 | +€1,882 | |
| Stocks | 30/36 | - | €1,882 | +€1,882 | |
| Amounts receivable within one year | 40/41 | €30,782 | €39,998 | +€9,216 | +29.9% |
| Trade receivables | 40 | - | €2,105 | +€2,105 | |
| Other amounts receivable | 41 | €30,782 | €37,893 | +€7,111 | +23.1% |
| Cash at bank and in hand | 54/58 | €39,788 | €31,828 | -€7,961 | -20.0% |
| Total equity and liabilities | 10/49 | €78,735 | €90,110 | +€11,375 | +14.4% |
| Equity | 10/15 | €50,435 | €53,369 | +€2,934 | +5.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,435 | €43,369 | +€2,934 | +7.3% |
| Amounts payable | 17/49 | €28,300 | €36,741 | +€8,441 | +29.8% |
| Amounts payable after more than one year | 17 | - | €4,681 | +€4,681 | |
| Financial debts | 170/4 | - | €4,681 | +€4,681 | |
| Amounts payable within one year | 42/48 | €28,300 | €32,060 | +€3,760 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | - | €3,823 | +€3,823 | |
| Trade debts | 44 | €12,300 | €16,414 | +€4,114 | +33.5% |
| Suppliers | 440/4 | €12,300 | €16,414 | +€4,114 | +33.5% |
| Taxes, remuneration and social security | 45 | €16,000 | €11,823 | -€4,177 | -26.1% |
| Taxes | 450/3 | €11,153 | €4,111 | -€7,041 | -63.1% |
| Remuneration and social security | 454/9 | €4,847 | €7,711 | +€2,864 | +59.1% |
| Remuneration, social security and pensions | 62 | €42,195 | €56,303 | +€14,108 | +33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,353 | €5,752 | +€2,399 | +71.5% |
| Other operating charges | 640/8 | €2,884 | €1,435 | -€1,449 | -50.3% |
| Gross operating margin | 9900 | €54,152 | €68,764 | +€14,612 | +27.0% |
| Operating profit (loss) | 9901 | €5,720 | €5,275 | -€445 | -7.8% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €10 | - | -€10 | |
| Financial charges | 65/66B | €155 | €702 | +€547 | +354.0% |
| Recurring financial charges | 65 | €155 | €702 | +€547 | +354.0% |
| Profit (loss) for the period before taxes | 9903 | €5,575 | €4,573 | -€1,002 | -18.0% |
| Income taxes | 67/77 | €1,711 | €1,639 | -€71 | -4.2% |
| Profit (loss) for the period | 9904 | €3,865 | €2,934 | -€931 | -24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,865 | €2,934 | -€931 | -24.1% |
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 11 October 2026 via checked.be.