PM CAPITAL: 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.
PM CAPITAL
Largest movements
- Cash +€18,335
up €18,335 (+34.1%), from €53,794 to €72,129
mainly Net result for the year (+€23,737) and Depreciation (+€8,528)
- Tangible fixed assets -€7,807
down €7,807 (-54.5%), from €14,337 to €6,530
- Reserves +€23,737
up €23,737 (+68.3%), from €34,743 to €58,480
- Other debts -€8,591
down €8,591 (-53.2%), from €16,149 to €7,558
- Tax, wage and social debts -€3,264
down €3,264 (-22.7%), from €14,350 to €11,086
of which Taxes: -€3,264
- Accrued charges and deferred income -€815
down €815 (-89.1%), from €915 to €100
- Taxes +€3,889
up €3,889 (+58.9%), from €6,608 to €10,497
- Gross operating margin +€3,827
up €3,827 (+9.5%), from €40,286 to €44,113
- Financial charges -€498
down €498 (-40.0%), from €1,245 to €747
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 | €69,461 | €80,224 | +€10,763 | +15.5% |
| Fixed assets | 21/28 | €14,387 | €6,580 | -€7,807 | -54.3% |
| Tangible fixed assets | 22/27 | €14,337 | €6,530 | -€7,807 | -54.5% |
| Furniture and vehicles | 24 | €14,337 | €6,530 | -€7,807 | -54.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €55,074 | €73,644 | +€18,570 | +33.7% |
| Cash at bank and in hand | 54/58 | €53,794 | €72,129 | +€18,335 | +34.1% |
| Deferred charges and accrued income | 490/1 | €1,280 | €1,515 | +€235 | +18.4% |
| Total equity and liabilities | 10/49 | €69,461 | €80,224 | +€10,763 | +15.5% |
| Equity | 10/15 | €37,743 | €61,480 | +€23,737 | +62.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €34,743 | €58,480 | +€23,737 | +68.3% |
| Distributable reserves | 133 | €34,743 | €58,480 | +€23,737 | +68.3% |
| Amounts payable | 17/49 | €31,718 | €18,744 | -€12,974 | -40.9% |
| Amounts payable within one year | 42/48 | €30,803 | €18,644 | -€12,159 | -39.5% |
| Trade debts | 44 | €304 | - | -€304 | |
| Suppliers | 440/4 | €304 | - | -€304 | |
| Taxes, remuneration and social security | 45 | €14,350 | €11,086 | -€3,264 | -22.7% |
| Taxes | 450/3 | €12,350 | €9,086 | -€3,264 | -26.4% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €16,149 | €7,558 | -€8,591 | -53.2% |
| Accrued charges and deferred income | 492/3 | €915 | €100 | -€815 | -89.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,404 | €8,528 | +€124 | +1.5% |
| Other operating charges | 640/8 | €798 | €604 | -€194 | -24.3% |
| Gross operating margin | 9900 | €40,286 | €44,113 | +€3,827 | +9.5% |
| Operating profit (loss) | 9901 | €31,084 | €34,981 | +€3,897 | +12.5% |
| Financial charges | 65/66B | €1,245 | €747 | -€498 | -40.0% |
| Recurring financial charges | 65 | €1,245 | €747 | -€498 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €29,839 | €34,234 | +€4,395 | +14.7% |
| Income taxes | 67/77 | €6,608 | €10,497 | +€3,889 | +58.9% |
| Profit (loss) for the period | 9904 | €23,231 | €23,737 | +€506 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,231 | €23,737 | +€506 | +2.2% |
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.