PMB: 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.
PMB
Largest movements
- Current investments -€96,196
down €96,196 (-56.6%), from €169,989 to €73,793
- Cash -€73,554
down €73,554 (-25.8%), from €285,145 to €211,591
mainly Investment in fixed assets (net) (-€114,418) and Trade debts (-€104,929)
- Stocks and contracts -€60,450
down €60,450 (-34.6%), from €174,676 to €114,226
- Receivables within one year +€28,950
up €28,950 (+74.7%), from €38,749 to €67,700
of which Trade receivables: +€34,395
- Trade debts -€104,929
down €104,929 (-41.0%), from €255,987 to €151,058
- Debts after one year -€65,863
down €65,863 (-7.2%), from €921,037 to €855,173
- Current portion of long-term debt -€25,413
down €25,413 (-28.1%), from €90,414 to €65,001
- Reserves -€24,324
down €24,324 (-5.4%), from €446,621 to €422,297
of which Distributable reserves: -€24,324
- Staff costs +€65,314
up €65,314 (+45.0%), from €145,256 to €210,570
- Gross operating margin +€33,908
up €33,908 (+8.2%), from €411,729 to €445,638
- Other operating charges -€31,210
down €31,210 (-50.7%), from €61,553 to €30,343
- Financial charges -€30,019
down €30,019 (-36.4%), from €82,412 to €52,394
- Depreciation +€10,907
up €10,907 (+9.9%), from €109,769 to €120,676
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 | €1,864,650 | €1,645,767 | -€218,883 | -11.7% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,155,472 | €1,149,214 | -€6,258 | -0.5% |
| Tangible fixed assets | 22/27 | €1,140,842 | €1,136,234 | -€4,608 | -0.4% |
| Land and buildings | 22 | €1,048,773 | €1,006,321 | -€42,451 | -4.0% |
| Plant, machinery and equipment | 23 | €40,186 | €77,509 | +€37,324 | +92.9% |
| Furniture and vehicles | 24 | €9,425 | €24,097 | +€14,672 | +155.7% |
| Leasing and similar rights | 25 | €42,459 | €28,306 | -€14,153 | -33.3% |
| Financial fixed assets | 28 | €14,630 | €12,980 | -€1,651 | -11.3% |
| Current assets | 29/58 | €709,178 | €496,553 | -€212,625 | -30.0% |
| Stocks and contracts in progress | 3 | €174,676 | €114,226 | -€60,450 | -34.6% |
| Stocks | 30/36 | €174,676 | €114,226 | -€60,450 | -34.6% |
| Amounts receivable within one year | 40/41 | €38,749 | €67,700 | +€28,950 | +74.7% |
| Trade receivables | 40 | €17,608 | €52,003 | +€34,395 | +195.3% |
| Other amounts receivable | 41 | €21,141 | €15,697 | -€5,444 | -25.8% |
| Current investments | 50/53 | €169,989 | €73,793 | -€96,196 | -56.6% |
| Cash at bank and in hand | 54/58 | €285,145 | €211,591 | -€73,554 | -25.8% |
| Deferred charges and accrued income | 490/1 | €40,618 | €29,243 | -€11,376 | -28.0% |
| Total equity and liabilities | 10/49 | €1,864,650 | €1,645,767 | -€218,883 | -11.7% |
| Equity | 10/15 | €466,621 | €442,297 | -€24,324 | -5.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | - | -€20,000 | |
| Issued capital | 100 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €446,621 | €422,297 | -€24,324 | -5.4% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | - | €2,000 | +€2,000 | |
| Distributable reserves | 133 | €444,621 | €420,297 | -€24,324 | -5.5% |
| Amounts payable | 17/49 | €1,398,029 | €1,203,470 | -€194,560 | -13.9% |
| Amounts payable after more than one year | 17 | €921,037 | €855,173 | -€65,863 | -7.2% |
| Financial debts | 170/4 | €921,037 | €855,173 | -€65,863 | -7.2% |
| Amounts payable within one year | 42/48 | €476,993 | €348,296 | -€128,696 | -27.0% |
| Current portion of amounts payable after more than one year | 42 | €90,414 | €65,001 | -€25,413 | -28.1% |
| Trade debts | 44 | €255,987 | €151,058 | -€104,929 | -41.0% |
| Suppliers | 440/4 | €255,987 | €151,058 | -€104,929 | -41.0% |
| Taxes, remuneration and social security | 45 | €68,700 | €67,551 | -€1,149 | -1.7% |
| Taxes | 450/3 | €18,680 | €16,652 | -€2,029 | -10.9% |
| Remuneration and social security | 454/9 | €50,020 | €50,899 | +€879 | +1.8% |
| Other amounts payable | 47/48 | €61,891 | €64,687 | +€2,795 | +4.5% |
| Non-recurring operating income | 76A | €1,539 | €3,294 | +€1,755 | +114.0% |
| Remuneration, social security and pensions | 62 | €145,256 | €210,570 | +€65,314 | +45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,769 | €120,676 | +€10,907 | +9.9% |
| Other operating charges | 640/8 | €61,553 | €30,343 | -€31,210 | -50.7% |
| Gross operating margin | 9900 | €411,729 | €445,638 | +€33,908 | +8.2% |
| Operating profit (loss) | 9901 | €95,151 | €84,049 | -€11,102 | -11.7% |
| Financial income | 75/76B | €4,995 | €4,259 | -€736 | -14.7% |
| Recurring financial income | 75 | €4,995 | €4,259 | -€736 | -14.7% |
| Financial charges | 65/66B | €82,412 | €52,394 | -€30,019 | -36.4% |
| Recurring financial charges | 65 | €82,412 | €52,394 | -€30,019 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €17,734 | €35,914 | +€18,181 | +102.5% |
| Income taxes | 67/77 | €8,859 | €15,448 | +€6,589 | +74.4% |
| Profit (loss) for the period | 9904 | €8,875 | €20,467 | +€11,592 | +130.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,875 | €20,467 | +€11,592 | +130.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.