PMBEL: 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.
PMBEL
Largest movements
- Intangible fixed assets -€14,426
down €14,426 (-17.5%), from €82,509 to €68,083
- Receivables within one year -€7,376
down €7,376 (-8.2%), from €90,318 to €82,941
of which Trade receivables: -€6,917
- Tangible fixed assets -€3,236
down €3,236 (-10.2%), from €31,611 to €28,375
of which Furniture and vehicles: -€2,746
- Cash +€2,532
up €2,532 (+9.0%), from €28,051 to €30,584
mainly Net result for the year (+€29,382) and Depreciation (+€26,686)
- Other debts -€50,856
down €50,856 (-37.5%), from €135,505 to €84,649
- Profit (loss) carried forward +€29,382
up €29,382 (+51.3%), from €57,263 to €86,645
- Tax, wage and social debts -€23,324
down €23,324 (-90.2%), from €25,860 to €2,536
of which Taxes: -€22,452
- Trade debts +€13,636
up €13,636 (+140.9%), from €9,679 to €23,315
- Short-term financial debts +€9,504
new in 2025: €9,504
- Gross operating margin -€33,145
down €33,145 (-30.0%), from €110,355 to €77,210
- Staff costs +€10,217
new in 2025: €10,217
- Taxes -€7,942
down €7,942 (-45.5%), from €17,451 to €9,509
- Depreciation -€6,299
down €6,299 (-19.1%), from €32,986 to €26,686
- Other operating charges -€2,038
down €2,038 (-57.3%), from €3,560 to €1,522
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 | €233,307 | €211,649 | -€21,658 | -9.3% |
| Fixed assets | 21/28 | €114,620 | €97,230 | -€17,390 | -15.2% |
| Intangible fixed assets | 21 | €82,509 | €68,083 | -€14,426 | -17.5% |
| Tangible fixed assets | 22/27 | €31,611 | €28,375 | -€3,236 | -10.2% |
| Plant, machinery and equipment | 23 | €1,225 | €735 | -€490 | -40.0% |
| Furniture and vehicles | 24 | €30,386 | €27,640 | -€2,746 | -9.0% |
| Financial fixed assets | 28 | €500 | €772 | +€272 | +54.4% |
| Current assets | 29/58 | €118,687 | €114,419 | -€4,268 | -3.6% |
| Amounts receivable within one year | 40/41 | €90,318 | €82,941 | -€7,376 | -8.2% |
| Trade receivables | 40 | €88,393 | €81,476 | -€6,917 | -7.8% |
| Other amounts receivable | 41 | €1,925 | €1,465 | -€460 | -23.9% |
| Cash at bank and in hand | 54/58 | €28,051 | €30,584 | +€2,532 | +9.0% |
| Deferred charges and accrued income | 490/1 | €318 | €894 | +€575 | +180.8% |
| Total equity and liabilities | 10/49 | €233,307 | €211,649 | -€21,658 | -9.3% |
| Equity | 10/15 | €62,263 | €91,645 | +€29,382 | +47.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,263 | €86,645 | +€29,382 | +51.3% |
| Amounts payable | 17/49 | €171,044 | €120,004 | -€51,040 | -29.8% |
| Amounts payable within one year | 42/48 | €171,044 | €120,004 | -€51,040 | -29.8% |
| Financial debts | 43 | - | €9,504 | +€9,504 | |
| Credit institutions | 430/8 | - | €9,504 | +€9,504 | |
| Trade debts | 44 | €9,679 | €23,315 | +€13,636 | +140.9% |
| Suppliers | 440/4 | €9,679 | €23,315 | +€13,636 | +140.9% |
| Taxes, remuneration and social security | 45 | €25,860 | €2,536 | -€23,324 | -90.2% |
| Taxes | 450/3 | €22,456 | €3 | -€22,452 | -100.0% |
| Remuneration and social security | 454/9 | €3,405 | €2,533 | -€872 | -25.6% |
| Other amounts payable | 47/48 | €135,505 | €84,649 | -€50,856 | -37.5% |
| Remuneration, social security and pensions | 62 | - | €10,217 | +€10,217 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,986 | €26,686 | -€6,299 | -19.1% |
| Other operating charges | 640/8 | €3,560 | €1,522 | -€2,038 | -57.3% |
| Gross operating margin | 9900 | €110,355 | €77,210 | -€33,145 | -30.0% |
| Operating profit (loss) | 9901 | €73,810 | €38,785 | -€35,024 | -47.5% |
| Financial income | 75/76B | €993 | €422 | -€570 | -57.5% |
| Recurring financial income | 75 | €993 | €422 | -€570 | -57.5% |
| Financial charges | 65/66B | €88 | €316 | +€228 | +259.8% |
| Recurring financial charges | 65 | €88 | €316 | +€228 | +259.8% |
| Profit (loss) for the period before taxes | 9903 | €74,714 | €38,891 | -€35,823 | -47.9% |
| Income taxes | 67/77 | €17,451 | €9,509 | -€7,942 | -45.5% |
| Profit (loss) for the period | 9904 | €57,263 | €29,382 | -€27,881 | -48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €57,263 | €29,382 | -€27,881 | -48.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.