PMF Immo: 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.
PMF Immo
Largest movements
- Tangible fixed assets -€1.8m
down €1.8m (-67.2%), from €2.6m to €863,070
of which Land and buildings: -€1.1m
- Cash +€56,152
up €56,152 (+751.4%), from €7,473 to €63,625
mainly Investment in fixed assets (net) (+€1.7m) and Depreciation (+€42,410)
- Receivables within one year +€44,421
up €44,421 (+50.1%), from €88,706 to €133,128
of which Trade receivables: +€41,096
- Other debts -€773,795
down €773,795 (-71.2%), from €1.1m to €312,601
- Debts after one year -€760,335
down €760,335 (-66.0%), from €1.2m to €392,349
- Profit (loss) carried forward -€77,910
down €77,910 (-33.6%), from €231,781 to €153,871
- Current portion of long-term debt -€51,794
down €51,794 (-49.8%), from €104,092 to €52,298
- Gross operating margin -€63,668
down €63,668 (-32.1%), from €198,114 to €134,446
- Financial charges -€30,577
down €30,577 (-43.7%), from €69,977 to €39,401
of which Non-recurring financial charges: -€24,600
- Depreciation -€20,093
down €20,093 (-32.1%), from €62,503 to €42,410
- Taxes -€15,317
down €15,317 (-100.0%), from €15,317 to €0
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 | €2,729,830 | €1,060,162 | -€1.7m | -61.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,633,650 | €863,206 | -€1.8m | -67.2% |
| Tangible fixed assets | 22/27 | €2,633,514 | €863,070 | -€1.8m | -67.2% |
| Land and buildings | 22 | €1,762,561 | €642,352 | -€1.1m | -63.6% |
| Plant, machinery and equipment | 23 | €239,781 | €220,718 | -€19,063 | -8.0% |
| Furniture and vehicles | 24 | €78 | €0 | -€78 | -100.0% |
| Assets under construction and advance payments | 27 | €631,093 | - | -€631,093 | |
| Financial fixed assets | 28 | €136 | €136 | = | 0.0% |
| Current assets | 29/58 | €96,180 | €196,956 | +€100,776 | +104.8% |
| Amounts receivable within one year | 40/41 | €88,706 | €133,128 | +€44,421 | +50.1% |
| Trade receivables | 40 | €84,532 | €125,628 | +€41,096 | +48.6% |
| Other amounts receivable | 41 | €4,175 | €7,500 | +€3,325 | +79.7% |
| Cash at bank and in hand | 54/58 | €7,473 | €63,625 | +€56,152 | +751.4% |
| Deferred charges and accrued income | 490/1 | - | €203 | +€203 | |
| Total equity and liabilities | 10/49 | €2,729,830 | €1,060,162 | -€1.7m | -61.2% |
| Equity | 10/15 | €354,449 | €276,539 | -€77,910 | -22.0% |
| Contributions | 10/11 | €122,668 | €122,668 | = | 0.0% |
| Profit (loss) carried forward | 14 | €231,781 | €153,871 | -€77,910 | -33.6% |
| Amounts payable | 17/49 | €2,375,381 | €783,622 | -€1.6m | -67.0% |
| Amounts payable after more than one year | 17 | €1,152,685 | €392,349 | -€760,335 | -66.0% |
| Financial debts | 170/4 | €1,152,685 | €392,349 | -€760,335 | -66.0% |
| Amounts payable within one year | 42/48 | €1,222,696 | €390,275 | -€832,421 | -68.1% |
| Current portion of amounts payable after more than one year | 42 | €104,092 | €52,298 | -€51,794 | -49.8% |
| Financial debts | 43 | €4,509 | €1,755 | -€2,755 | -61.1% |
| Credit institutions | 430/8 | €4,509 | €1,755 | -€2,755 | -61.1% |
| Trade debts | 44 | €16,871 | €14,008 | -€2,863 | -17.0% |
| Suppliers | 440/4 | €16,871 | €14,008 | -€2,863 | -17.0% |
| Taxes, remuneration and social security | 45 | €10,827 | €9,613 | -€1,214 | -11.2% |
| Taxes | 450/3 | €10,827 | €9,613 | -€1,214 | -11.2% |
| Other amounts payable | 47/48 | €1,086,397 | €312,601 | -€773,795 | -71.2% |
| Accrued charges and deferred income | 492/3 | - | €998 | +€998 | |
| Non-recurring operating income | 76A | - | €1,968 | +€1,968 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,503 | €42,410 | -€20,093 | -32.1% |
| Other operating charges | 640/8 | €10,878 | €12,125 | +€1,247 | +11.5% |
| Non-recurring operating charges | 66A | €2,842 | €118,420 | +€115,578 | +4066.8% |
| Gross operating margin | 9900 | €198,114 | €134,446 | -€63,668 | -32.1% |
| Operating profit (loss) | 9901 | €121,892 | -€38,509 | -€160,401 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €69,977 | €39,401 | -€30,577 | -43.7% |
| Recurring financial charges | 65 | €45,377 | €39,401 | -€5,977 | -13.2% |
| Non-recurring financial charges | 66B | €24,600 | - | -€24,600 | |
| Profit (loss) for the period before taxes | 9903 | €51,914 | -€77,910 | -€129,824 | |
| Income taxes | 67/77 | €15,317 | €0 | -€15,317 | -100.0% |
| Profit (loss) for the period | 9904 | €36,597 | -€77,910 | -€114,507 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,597 | -€77,910 | -€114,507 |
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 10 October 2026 via checked.be.