PM - CONSULT: 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 - CONSULT
Largest movements
- Tangible fixed assets -€82,159
down €82,159 (-7.0%), from €1.2m to €1.1m
of which Other tangible fixed assets: -€73,947
- Cash +€59,652
up €59,652 (+117.1%), from €50,931 to €110,583
mainly Depreciation (+€82,159) and Receivables within one year (+€4,698)
- Reserves -€26,894
down €26,894 (-4.9%), from €550,123 to €523,229
of which Distributable reserves: -€26,894
- Financial charges -€38,937
down €38,937 (-99.5%), from €39,124 to €187
- Gross operating margin -€28,478
down €28,478 (-28.7%), from €99,267 to €70,789
- Depreciation -€5,693
down €5,693 (-6.5%), from €87,852 to €82,159
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 | €1,238,480 | €1,211,274 | -€27,206 | -2.2% |
| Fixed assets | 21/28 | €1,172,493 | €1,090,333 | -€82,159 | -7.0% |
| Tangible fixed assets | 22/27 | €1,172,493 | €1,090,333 | -€82,159 | -7.0% |
| Land and buildings | 22 | €429,033 | €429,033 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,231 | €3,625 | -€1,607 | -30.7% |
| Furniture and vehicles | 24 | €11,619 | €5,013 | -€6,606 | -56.9% |
| Other tangible fixed assets | 26 | €726,610 | €652,663 | -€73,947 | -10.2% |
| Current assets | 29/58 | €65,987 | €120,941 | +€54,954 | +83.3% |
| Amounts receivable within one year | 40/41 | €15,056 | €10,358 | -€4,698 | -31.2% |
| Trade receivables | 40 | €12,421 | €10,152 | -€2,269 | -18.3% |
| Other amounts receivable | 41 | €2,635 | €207 | -€2,429 | -92.2% |
| Cash at bank and in hand | 54/58 | €50,931 | €110,583 | +€59,652 | +117.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,238,480 | €1,211,274 | -€27,206 | -2.2% |
| Equity | 10/15 | €737,729 | €710,835 | -€26,894 | -3.6% |
| Contributions | 10/11 | €37,605 | €37,605 | = | 0.0% |
| Revaluation surpluses | 12 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €550,123 | €523,229 | -€26,894 | -4.9% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €543,123 | €516,229 | -€26,894 | -5.0% |
| Amounts payable | 17/49 | €500,751 | €500,440 | -€311 | -0.1% |
| Amounts payable within one year | 42/48 | €500,751 | €500,440 | -€311 | -0.1% |
| Trade debts | 44 | €3,404 | €879 | -€2,525 | -74.2% |
| Suppliers | 440/4 | €3,404 | €879 | -€2,525 | -74.2% |
| Advances received on contracts in progress | 46 | €11,068 | €12,276 | +€1,208 | +10.9% |
| Taxes, remuneration and social security | 45 | €780 | €1,785 | +€1,006 | +128.9% |
| Taxes | 450/3 | €780 | €1,785 | +€1,006 | +128.9% |
| Other amounts payable | 47/48 | €485,499 | €485,499 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,852 | €82,159 | -€5,693 | -6.5% |
| Other operating charges | 640/8 | €15,002 | €15,221 | +€219 | +1.5% |
| Gross operating margin | 9900 | €99,267 | €70,789 | -€28,478 | -28.7% |
| Operating profit (loss) | 9901 | -€3,587 | -€26,591 | -€23,004 | -641.3% |
| Financial income | 75/76B | €130 | €316 | +€186 | +142.3% |
| Recurring financial income | 75 | €130 | €316 | +€186 | +142.3% |
| Financial charges | 65/66B | €39,124 | €187 | -€38,937 | -99.5% |
| Recurring financial charges | 65 | €39,124 | €187 | -€38,937 | -99.5% |
| Profit (loss) for the period before taxes | 9903 | -€42,581 | -€26,462 | +€16,119 | +37.9% |
| Income taxes | 67/77 | €634 | €433 | -€202 | -31.8% |
| Profit (loss) for the period | 9904 | -€43,215 | -€26,894 | +€16,321 | +37.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,215 | -€26,894 | +€16,321 | +37.8% |
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 4 October 2026 via checked.be.