PMH: 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.
What changed
PMH
NACE 55.202, Accommodation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€171,613
2024 · €188,251-€16,638
Equity
€3.7m
2024 · €3.6m+€180,982
Cash
€1.1m
2024 · €757,162+€313,364
Balance sheet total
€9.7m
2024 · €9.8m-€94,488
Largest movements
Assets
- Receivables within one year -€697,499
down €697,499 (-8.6%), from €8.1m to €7.4m
of which Other amounts receivable: -€412,872
- Tangible fixed assets +€332,712
up €332,712 (+64.3%), from €517,299 to €850,011
of which Plant, machinery and equipment: +€306,429
- Cash +€313,364
up €313,364 (+41.4%), from €757,162 to €1.1m
mainly Receivables within one year (+€697,499) and Debts after one year (+€525,085)
Equity and liabilities
- Debts after one year +€525,085
up €525,085 (+25.0%), from €2.1m to €2.6m
- Other debts -€432,147
down €432,147 (-89.1%), from €484,774 to €52,627
- Current portion of long-term debt -€381,561
down €381,561 (-44.3%), from €861,119 to €479,557
- Profit (loss) carried forward +€171,613
up €171,613 (+23.4%), from €734,649 to €906,262
- Accrued charges and deferred income +€135,203
up €135,203 (+986.2%), from €13,709 to €148,912
Income statement
- Staff costs +€171,669
up €171,669 (+7.2%), from €2.4m to €2.6m
- Financial income +€83,179
up €83,179 (+99.5%), from €83,626 to €166,805
- Depreciation -€69,711
down €69,711 (-17.0%), from €409,974 to €340,264
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.
Result 2024
€188,251
Gross operating margin
+€8,402
Staff costs
-€171,669
Depreciation
+€69,711
Other operating charges
-€32,854
Other operating items
-€440
Financial income
+€83,179
Financial charges
+€15,017
Taxes
+€8,890
Deferred taxes and other
+€3,127
Result 2025
€171,613
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.
From operations
+€929,636
Investment
-€634,997
Financing
+€18,725
Cash 2024
€757,162
From operations (derived)
+€929,636
Net result for the year
+€171,613
Depreciation
+€340,264
Receivables after one year
+€11,024
Stocks and contracts
-€9,287
Receivables within one year
+€697,499
Deferred charges and accrued income
+€3,348
Provisions
+€3,123
Trade debts
-€36,371
Tax, wage and social debts
+€45,366
Other debts
-€432,147
Accrued charges and deferred income
+€135,203
Investment (derived)
-€634,997
Investment in fixed assets (net)
-€634,997
Financing
+€18,725
Debts after one year
+€525,085
Current portion of long-term debt
-€381,561
Short-term financial debts
-€134,167
Contributions, distributions and other
+€9,369
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,775,218 | €9,680,730 | -€94,488 | -1.0% |
| Fixed assets | 21/28 | €797,973 | €1,092,706 | +€294,733 | +36.9% |
| Intangible fixed assets | 21 | €280,674 | €242,695 | -€37,979 | -13.5% |
| Tangible fixed assets | 22/27 | €517,299 | €850,011 | +€332,712 | +64.3% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €229,943 | €536,372 | +€306,429 | +133.3% |
| Furniture and vehicles | 24 | €182,688 | €212,958 | +€30,270 | +16.6% |
| Leasing and similar rights | 25 | €104,668 | €100,682 | -€3,986 | -3.8% |
| Current assets | 29/58 | €8,977,245 | €8,588,024 | -€389,221 | -4.3% |
| Amounts receivable after more than one year | 29 | €33,576 | €22,552 | -€11,024 | -32.8% |
| Other amounts receivable | 291 | €33,576 | €22,552 | -€11,024 | -32.8% |
| Stocks and contracts in progress | 3 | €87,238 | €96,525 | +€9,287 | +10.6% |
| Stocks | 30/36 | €87,238 | €96,525 | +€9,287 | +10.6% |
| Amounts receivable within one year | 40/41 | €8,072,857 | €7,375,357 | -€697,499 | -8.6% |
| Trade receivables | 40 | €2,292,463 | €2,007,836 | -€284,627 | -12.4% |
| Other amounts receivable | 41 | €5,780,394 | €5,367,521 | -€412,872 | -7.1% |
| Cash at bank and in hand | 54/58 | €757,162 | €1,070,526 | +€313,364 | +41.4% |
| Deferred charges and accrued income | 490/1 | €26,413 | €23,065 | -€3,348 | -12.7% |
| Total equity and liabilities | 10/49 | €9,775,218 | €9,680,730 | -€94,488 | -1.0% |
| Equity | 10/15 | €3,568,083 | €3,749,064 | +€180,982 | +5.1% |
| Contributions | 10/11 | €902,470 | €902,470 | = | 0.0% |
| Capital | 10 | €902,332 | €902,332 | = | 0.0% |
| Issued capital | 100 | €902,332 | €902,332 | = | 0.0% |
| Outside capital | 11 | €137 | €137 | = | 0.0% |
| Share premium | 1100/10 | €137 | €137 | = | 0.0% |
| Revaluation surpluses | 12 | €223,104 | €223,104 | = | 0.0% |
| Reserves | 13 | €1,707,860 | €1,707,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €90,233 | €90,233 | = | 0.0% |
| Legal reserve | 130 | €90,233 | €90,233 | = | 0.0% |
| Tax-exempt reserves | 132 | €793 | €793 | = | 0.0% |
| Distributable reserves | 133 | €1,616,833 | €1,616,833 | = | 0.0% |
| Profit (loss) carried forward | 14 | €734,649 | €906,262 | +€171,613 | +23.4% |
| Investment grants | 15 | - | €9,369 | +€9,369 | |
| Provisions and deferred taxes | 16 | - | €3,123 | +€3,123 | |
| Deferred taxes | 168 | - | €3,123 | +€3,123 | |
| Amounts payable | 17/49 | €6,207,136 | €5,928,543 | -€278,593 | -4.5% |
| Amounts payable after more than one year | 17 | €2,099,037 | €2,624,122 | +€525,085 | +25.0% |
| Financial debts | 170/4 | €2,099,037 | €2,624,122 | +€525,085 | +25.0% |
| Amounts payable within one year | 42/48 | €4,094,389 | €3,155,509 | -€938,880 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €861,119 | €479,557 | -€381,561 | -44.3% |
| Financial debts | 43 | €741,667 | €607,500 | -€134,167 | -18.1% |
| Credit institutions | 430/8 | €21,667 | €20,000 | -€1,667 | -7.7% |
| Other loans | 439 | €720,000 | €587,500 | -€132,500 | -18.4% |
| Trade debts | 44 | €1,525,538 | €1,489,167 | -€36,371 | -2.4% |
| Suppliers | 440/4 | €1,525,538 | €1,489,167 | -€36,371 | -2.4% |
| Taxes, remuneration and social security | 45 | €481,291 | €526,658 | +€45,366 | +9.4% |
| Taxes | 450/3 | €121,140 | €180,726 | +€59,586 | +49.2% |
| Remuneration and social security | 454/9 | €360,151 | €345,931 | -€14,220 | -3.9% |
| Other amounts payable | 47/48 | €484,774 | €52,627 | -€432,147 | -89.1% |
| Accrued charges and deferred income | 492/3 | €13,709 | €148,912 | +€135,203 | +986.2% |
| Non-recurring operating income | 76A | €1,686 | €876 | -€810 | -48.0% |
| Remuneration, social security and pensions | 62 | €2,399,420 | €2,571,088 | +€171,669 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €409,974 | €340,264 | -€69,711 | -17.0% |
| Other operating charges | 640/8 | €134,816 | €167,670 | +€32,854 | +24.4% |
| Non-recurring operating charges | 66A | - | €440 | +€440 | |
| Gross operating margin | 9900 | €3,280,995 | €3,289,397 | +€8,402 | +0.3% |
| Operating profit (loss) | 9901 | €336,785 | €209,935 | -€126,850 | -37.7% |
| Financial income | 75/76B | €83,626 | €166,805 | +€83,179 | +99.5% |
| Recurring financial income | 75 | €83,626 | €166,805 | +€83,179 | +99.5% |
| Financial charges | 65/66B | €136,729 | €121,712 | -€15,017 | -11.0% |
| Recurring financial charges | 65 | €136,729 | €121,712 | -€15,017 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €283,682 | €255,028 | -€28,655 | -10.1% |
| Transfer from deferred taxes | 780 | - | €3,127 | +€3,127 | |
| Income taxes | 67/77 | €95,431 | €86,541 | -€8,890 | -9.3% |
| Profit (loss) for the period | 9904 | €188,251 | €171,613 | -€16,638 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €188,251 | €171,613 | -€16,638 | -8.8% |
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 5 October 2026 via checked.be.