PMNC: 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.
PMNC
Largest movements
- Cash -€21,201
down €21,201 (-51.3%), from €41,365 to €20,165
mainly Contributions, distributions and other (-€168,324) and Investment in fixed assets (net) (-€17,856)
- Deferred charges and accrued income +€15,595
up €15,595 (+13.4%), from €116,113 to €131,708
- Tangible fixed assets +€6,383
up €6,383 (+46.4%), from €13,767 to €20,150
of which Plant, machinery and equipment: +€3,575
- Receivables within one year -€5,526
down €5,526 (-64.2%), from €8,610 to €3,084
- Profit (loss) carried forward -€10,727
down €10,727 (-41.1%), from €26,081 to €15,354
- Other debts +€8,775
up €8,775 (+7.7%), from €113,812 to €122,588
- Tax, wage and social debts -€7,855
down €7,855 (-25.6%), from €30,691 to €22,836
- Trade debts +€2,703
up €2,703 (+3,693%), from €73 to €2,776
- Debts after one year +€2,296
new in 2025: €2,296
- Gross operating margin +€22,111
up €22,111 (+11.3%), from €195,216 to €217,327
- Taxes +€5,017
up €5,017 (+12.0%), from €41,977 to €46,993
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 | €179,856 | €175,107 | -€4,749 | -2.6% |
| Fixed assets | 21/28 | €13,767 | €20,150 | +€6,383 | +46.4% |
| Tangible fixed assets | 22/27 | €13,767 | €20,150 | +€6,383 | +46.4% |
| Plant, machinery and equipment | 23 | - | €3,575 | +€3,575 | |
| Furniture and vehicles | 24 | €13,767 | €16,575 | +€2,807 | +20.4% |
| Current assets | 29/58 | €166,089 | €154,957 | -€11,132 | -6.7% |
| Amounts receivable within one year | 40/41 | €8,610 | €3,084 | -€5,526 | -64.2% |
| Other amounts receivable | 41 | €8,610 | €3,084 | -€5,526 | -64.2% |
| Cash at bank and in hand | 54/58 | €41,365 | €20,165 | -€21,201 | -51.3% |
| Deferred charges and accrued income | 490/1 | €116,113 | €131,708 | +€15,595 | +13.4% |
| Total equity and liabilities | 10/49 | €179,856 | €175,107 | -€4,749 | -2.6% |
| Equity | 10/15 | €28,581 | €17,854 | -€10,727 | -37.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,081 | €15,354 | -€10,727 | -41.1% |
| Amounts payable | 17/49 | €151,276 | €157,254 | +€5,978 | +4.0% |
| Amounts payable after more than one year | 17 | - | €2,296 | +€2,296 | |
| Financial debts | 170/4 | - | €2,296 | +€2,296 | |
| Amounts payable within one year | 42/48 | €150,103 | €154,957 | +€4,854 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €5,527 | €6,757 | +€1,230 | +22.3% |
| Trade debts | 44 | €73 | €2,776 | +€2,703 | +3,693% |
| Suppliers | 440/4 | €73 | €2,776 | +€2,703 | +3,693% |
| Taxes, remuneration and social security | 45 | €30,691 | €22,836 | -€7,855 | -25.6% |
| Taxes | 450/3 | €30,691 | €22,836 | -€7,855 | -25.6% |
| Other amounts payable | 47/48 | €113,812 | €122,588 | +€8,775 | +7.7% |
| Accrued charges and deferred income | 492/3 | €1,173 | - | -€1,173 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,244 | €11,474 | +€1,229 | +12.0% |
| Other operating charges | 640/8 | €1,118 | €1,031 | -€86 | -7.7% |
| Gross operating margin | 9900 | €195,216 | €217,327 | +€22,111 | +11.3% |
| Operating profit (loss) | 9901 | €183,855 | €204,822 | +€20,968 | +11.4% |
| Financial income | 75/76B | €93 | €259 | +€166 | +179% |
| Recurring financial income | 75 | €93 | €259 | +€166 | +179% |
| Financial charges | 65/66B | €261 | €492 | +€231 | +88.4% |
| Recurring financial charges | 65 | €261 | €492 | +€231 | +88.4% |
| Profit (loss) for the period before taxes | 9903 | €183,686 | €204,590 | +€20,903 | +11.4% |
| Income taxes | 67/77 | €41,977 | €46,993 | +€5,017 | +12.0% |
| Profit (loss) for the period | 9904 | €141,710 | €157,597 | +€15,887 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €141,710 | €157,597 | +€15,887 | +11.2% |
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 27 October 2026 via checked.be.