PMI: 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.
PMI
Largest movements
- Tangible fixed assets -€61,096
down €61,096 (-8.6%), from €709,807 to €648,710
of which Furniture and vehicles: -€33,408
- Cash +€11,841
up €11,841 (+39.0%), from €30,391 to €42,232
mainly Depreciation (+€69,236) and Net result for the year (+€45,579)
- Debts after one year -€66,185
down €66,185 (-15.4%), from €429,022 to €362,837
- Reserves +€45,579
up €45,579 (+38.0%), from €119,919 to €165,498
- Contributions -€26,000
down €26,000 (-17.2%), from €151,000 to €125,000
- Gross operating margin +€16,014
up €16,014 (+11.6%), from €137,759 to €153,773
- Taxes +€6,749
up €6,749 (+33.6%), from €20,068 to €26,817
- Depreciation -€6,513
down €6,513 (-8.6%), from €75,749 to €69,236
- Financial charges -€1,563
down €1,563 (-13.7%), from €11,416 to €9,854
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.
Derived cash bridge
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 | €811,915 | €762,889 | -€49,026 | -6.0% |
| Fixed assets | 21/28 | €709,807 | €648,710 | -€61,096 | -8.6% |
| Tangible fixed assets | 22/27 | €709,807 | €648,710 | -€61,096 | -8.6% |
| Land and buildings | 22 | €518,831 | €503,813 | -€15,018 | -2.9% |
| Plant, machinery and equipment | 23 | €71,167 | €58,497 | -€12,670 | -17.8% |
| Furniture and vehicles | 24 | €119,808 | €86,400 | -€33,408 | -27.9% |
| Current assets | 29/58 | €102,108 | €114,179 | +€12,071 | +11.8% |
| Stocks and contracts in progress | 3 | €16,508 | €23,656 | +€7,148 | +43.3% |
| Stocks | 30/36 | €16,508 | €23,656 | +€7,148 | +43.3% |
| Amounts receivable within one year | 40/41 | €47,853 | €41,194 | -€6,660 | -13.9% |
| Trade receivables | 40 | €47,853 | €41,194 | -€6,660 | -13.9% |
| Cash at bank and in hand | 54/58 | €30,391 | €42,232 | +€11,841 | +39.0% |
| Deferred charges and accrued income | 490/1 | €7,356 | €7,097 | -€259 | -3.5% |
| Total equity and liabilities | 10/49 | €811,915 | €762,889 | -€49,026 | -6.0% |
| Equity | 10/15 | €270,919 | €290,498 | +€19,579 | +7.2% |
| Contributions | 10/11 | €151,000 | €125,000 | -€26,000 | -17.2% |
| Reserves | 13 | €119,919 | €165,498 | +€45,579 | +38.0% |
| Distributable reserves | 133 | €119,919 | €165,498 | +€45,579 | +38.0% |
| Amounts payable | 17/49 | €540,996 | €472,391 | -€68,604 | -12.7% |
| Amounts payable after more than one year | 17 | €429,022 | €362,837 | -€66,185 | -15.4% |
| Financial debts | 170/4 | €429,022 | €362,837 | -€66,185 | -15.4% |
| Amounts payable within one year | 42/48 | €111,974 | €109,554 | -€2,419 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €64,566 | €66,185 | +€1,619 | +2.5% |
| Trade debts | 44 | €21,955 | €16,414 | -€5,541 | -25.2% |
| Suppliers | 440/4 | €21,955 | €16,414 | -€5,541 | -25.2% |
| Taxes, remuneration and social security | 45 | €24,665 | €26,463 | +€1,798 | +7.3% |
| Taxes | 450/3 | €24,665 | €26,463 | +€1,798 | +7.3% |
| Other amounts payable | 47/48 | €788 | €492 | -€295 | -37.5% |
| Non-recurring operating income | 76A | - | €952 | +€952 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,749 | €69,236 | -€6,513 | -8.6% |
| Other operating charges | 640/8 | €2,915 | €2,312 | -€603 | -20.7% |
| Gross operating margin | 9900 | €137,759 | €153,773 | +€16,014 | +11.6% |
| Operating profit (loss) | 9901 | €59,096 | €82,226 | +€23,130 | +39.1% |
| Financial income | 75/76B | €2 | €24 | +€22 | +1,326% |
| Recurring financial income | 75 | €2 | €24 | +€22 | +1,326% |
| Financial charges | 65/66B | €11,416 | €9,854 | -€1,563 | -13.7% |
| Recurring financial charges | 65 | €11,416 | €9,854 | -€1,563 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €47,681 | €72,396 | +€24,714 | +51.8% |
| Income taxes | 67/77 | €20,068 | €26,817 | +€6,749 | +33.6% |
| Profit (loss) for the period | 9904 | €27,613 | €45,579 | +€17,966 | +65.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,613 | €45,579 | +€17,966 | +65.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.