PM-Trans: 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-Trans
Largest movements
- Receivables within one year -€192,212
down €192,212 (-47.4%), from €405,537 to €213,324
of which Trade receivables: -€196,396
- Deferred charges and accrued income +€71,590
up €71,590 (+2050.0%), from €3,492 to €75,082
- Receivables after one year +€70,000
new in 2025: €70,000
- Tangible fixed assets -€37,093
down €37,093 (-9.2%), from €401,714 to €364,621
of which Leasing and similar rights: -€20,840
- Cash -€30,859
down €30,859 (-40.6%), from €75,978 to €45,119
mainly Other debts (-€117,091) and Investment in fixed assets (net) (-€85,555)
- Other debts -€117,091
down €117,091 (-98.9%), from €118,433 to €1,342
- Trade debts +€55,047
up €55,047 (+144.6%), from €38,058 to €93,105
- Tax, wage and social debts -€51,047
down €51,047 (-44.8%), from €113,975 to €62,928
of which Taxes: -€55,304
- Debts after one year -€42,584
down €42,584 (-16.1%), from €264,976 to €222,392
- Profit (loss) carried forward +€33,734
up €33,734 (+14.1%), from €239,033 to €272,767
- Other operating charges +€119,979
up €119,979 (+1938.8%), from €6,188 to €126,167
- Gross operating margin +€117,659
up €117,659 (+17.4%), from €675,610 to €793,269
- Staff costs +€47,229
up €47,229 (+10.6%), from €443,559 to €490,788
- Depreciation +€16,088
up €16,088 (+15.1%), from €106,560 to €122,648
- Taxes -€12,770
down €12,770 (-66.9%), from €19,086 to €6,316
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 | €886,721 | €768,147 | -€118,574 | -13.4% |
| Fixed assets | 21/28 | €401,714 | €364,621 | -€37,093 | -9.2% |
| Tangible fixed assets | 22/27 | €401,714 | €364,621 | -€37,093 | -9.2% |
| Plant, machinery and equipment | 23 | €1,617 | €656 | -€961 | -59.4% |
| Furniture and vehicles | 24 | €346,654 | €331,363 | -€15,291 | -4.4% |
| Leasing and similar rights | 25 | €53,443 | €32,602 | -€20,840 | -39.0% |
| Current assets | 29/58 | €485,007 | €403,526 | -€81,482 | -16.8% |
| Amounts receivable after more than one year | 29 | - | €70,000 | +€70,000 | |
| Other amounts receivable | 291 | - | €70,000 | +€70,000 | |
| Amounts receivable within one year | 40/41 | €405,537 | €213,324 | -€192,212 | -47.4% |
| Trade receivables | 40 | €405,537 | €209,140 | -€196,396 | -48.4% |
| Other amounts receivable | 41 | - | €4,184 | +€4,184 | |
| Cash at bank and in hand | 54/58 | €75,978 | €45,119 | -€30,859 | -40.6% |
| Deferred charges and accrued income | 490/1 | €3,492 | €75,082 | +€71,590 | +2050.0% |
| Total equity and liabilities | 10/49 | €886,721 | €768,147 | -€118,574 | -13.4% |
| Equity | 10/15 | €244,033 | €277,767 | +€33,734 | +13.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €239,033 | €272,767 | +€33,734 | +14.1% |
| Amounts payable | 17/49 | €642,688 | €490,380 | -€152,308 | -23.7% |
| Amounts payable after more than one year | 17 | €264,976 | €222,392 | -€42,584 | -16.1% |
| Financial debts | 170/4 | €264,976 | €222,392 | -€42,584 | -16.1% |
| Amounts payable within one year | 42/48 | €377,712 | €267,988 | -€109,724 | -29.0% |
| Current portion of amounts payable after more than one year | 42 | €92,279 | €110,612 | +€18,333 | +19.9% |
| Trade debts | 44 | €38,058 | €93,105 | +€55,047 | +144.6% |
| Suppliers | 440/4 | €38,058 | €93,105 | +€55,047 | +144.6% |
| Advances received on contracts in progress | 46 | €14,966 | - | -€14,966 | |
| Taxes, remuneration and social security | 45 | €113,975 | €62,928 | -€51,047 | -44.8% |
| Taxes | 450/3 | €70,896 | €15,592 | -€55,304 | -78.0% |
| Remuneration and social security | 454/9 | €43,079 | €47,336 | +€4,257 | +9.9% |
| Other amounts payable | 47/48 | €118,433 | €1,342 | -€117,091 | -98.9% |
| Remuneration, social security and pensions | 62 | €443,559 | €490,788 | +€47,229 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,560 | €122,648 | +€16,088 | +15.1% |
| Other operating charges | 640/8 | €6,188 | €126,167 | +€119,979 | +1938.8% |
| Gross operating margin | 9900 | €675,610 | €793,269 | +€117,659 | +17.4% |
| Operating profit (loss) | 9901 | €119,303 | €53,666 | -€65,636 | -55.0% |
| Financial income | 75/76B | €1 | €1,592 | +€1,591 | +224091.5% |
| Recurring financial income | 75 | €1 | €1,592 | +€1,591 | +224091.5% |
| Financial charges | 65/66B | €14,629 | €15,208 | +€579 | +4.0% |
| Recurring financial charges | 65 | €14,629 | €15,208 | +€579 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €104,675 | €40,050 | -€64,625 | -61.7% |
| Income taxes | 67/77 | €19,086 | €6,316 | -€12,770 | -66.9% |
| Profit (loss) for the period | 9904 | €85,589 | €33,734 | -€51,855 | -60.6% |
| Profit (loss) for the period to be appropriated | 9905 | €85,589 | €33,734 | -€51,855 | -60.6% |
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 7 October 2026 via checked.be.