PM-Force: 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-Force
Largest movements
- Cash -€71,391
down €71,391 (-68.0%), from €105,059 to €33,668
mainly Contributions, distributions and other (-€82,621) and Current investments (-€59,240)
- Current investments +€59,240
up €59,240 (+14.6%), from €406,295 to €465,535
- Receivables within one year -€49,820
down €49,820 (-84.7%), from €58,826 to €9,005
of which Other amounts receivable: -€30,460
- Reserves -€42,500
down €42,500 (-18.0%), from €235,487 to €192,987
- Debts after one year -€14,314
down €14,314 (-74.8%), from €19,128 to €4,814
- Tax, wage and social debts -€9,688
no longer reported in 2025 (was €9,688)
- Trade debts +€9,646
up €9,646 (+2,249%), from €429 to €10,075
- Gross operating margin +€66,791
up €66,791 (+6,201%), from €1,077 to €67,869
- Taxes +€19,334
up €19,334 (+897%), from €2,154 to €21,488
- Financial charges -€18,844
down €18,844 (-88.0%), from €21,421 to €2,577
- Other operating charges -€756
down €756 (-26.2%), from €2,886 to €2,130
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.
Derived cash bridge
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 | €612,457 | €550,092 | -€62,365 | -10.2% |
| Fixed assets | 21/28 | €39,454 | €38,914 | -€539 | -1.4% |
| Tangible fixed assets | 22/27 | €39,454 | €38,914 | -€539 | -1.4% |
| Land and buildings | 22 | €836 | €476 | -€359 | -43.0% |
| Furniture and vehicles | 24 | €38,618 | €22,946 | -€15,672 | -40.6% |
| Other tangible fixed assets | 26 | - | €15,492 | +€15,492 | |
| Current assets | 29/58 | €573,004 | €511,178 | -€61,826 | -10.8% |
| Amounts receivable within one year | 40/41 | €58,826 | €9,005 | -€49,820 | -84.7% |
| Trade receivables | 40 | €19,360 | - | -€19,360 | |
| Other amounts receivable | 41 | €39,466 | €9,005 | -€30,460 | -77.2% |
| Current investments | 50/53 | €406,295 | €465,535 | +€59,240 | +14.6% |
| Cash at bank and in hand | 54/58 | €105,059 | €33,668 | -€71,391 | -68.0% |
| Deferred charges and accrued income | 490/1 | €2,824 | €2,969 | +€145 | +5.1% |
| Total equity and liabilities | 10/49 | €612,457 | €550,092 | -€62,365 | -10.2% |
| Equity | 10/15 | €561,910 | €519,411 | -€42,500 | -7.6% |
| Contributions | 10/11 | €102,400 | €102,400 | = | 0.0% |
| Reserves | 13 | €235,487 | €192,987 | -€42,500 | -18.0% |
| Distributable reserves | 133 | €235,487 | €192,987 | -€42,500 | -18.0% |
| Profit (loss) carried forward | 14 | €224,023 | €224,023 | = | 0.0% |
| Amounts payable | 17/49 | €50,547 | €30,682 | -€19,866 | -39.3% |
| Amounts payable after more than one year | 17 | €19,128 | €4,814 | -€14,314 | -74.8% |
| Financial debts | 170/4 | €19,128 | €4,814 | -€14,314 | -74.8% |
| Amounts payable within one year | 42/48 | €31,419 | €25,868 | -€5,552 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €14,123 | €14,314 | +€191 | +1.3% |
| Trade debts | 44 | €429 | €10,075 | +€9,646 | +2,249% |
| Suppliers | 440/4 | €429 | €10,075 | +€9,646 | +2,249% |
| Taxes, remuneration and social security | 45 | €9,688 | - | -€9,688 | |
| Taxes | 450/3 | €9,688 | - | -€9,688 | |
| Other amounts payable | 47/48 | €7,179 | €1,479 | -€5,700 | -79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,161 | €18,333 | +€171 | +0.9% |
| Other operating charges | 640/8 | €2,886 | €2,130 | -€756 | -26.2% |
| Gross operating margin | 9900 | €1,077 | €67,869 | +€66,791 | +6,201% |
| Operating profit (loss) | 9901 | -€19,970 | €47,406 | +€67,376 | |
| Financial income | 75/76B | €17,287 | €16,780 | -€507 | -2.9% |
| Recurring financial income | 75 | €17,287 | €16,780 | -€507 | -2.9% |
| Financial charges | 65/66B | €21,421 | €2,577 | -€18,844 | -88.0% |
| Recurring financial charges | 65 | €21,421 | €2,577 | -€18,844 | -88.0% |
| Profit (loss) for the period before taxes | 9903 | -€24,104 | €61,610 | +€85,713 | |
| Income taxes | 67/77 | €2,154 | €21,488 | +€19,334 | +897% |
| Profit (loss) for the period | 9904 | -€26,258 | €40,121 | +€66,379 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,258 | €40,121 | +€66,379 |
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 15 October 2026 via checked.be.