PMO MANAGEMENT: 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.
PMO MANAGEMENT
Largest movements
- Receivables within one year -€193,733
down €193,733 (-14.6%), from €1.3m to €1.1m
of which Other amounts receivable: -€191,929
- Financial fixed assets -€79,323
down €79,323 (-9.3%), from €854,732 to €775,409
- Tangible fixed assets -€44,229
down €44,229 (-33.6%), from €131,619 to €87,391
of which Furniture and vehicles: -€42,970
- Reserves -€2.8m
down €2.8m (-87.5%), from €3.2m to €400,000
- Other debts +€2.7m
up €2.7m (+4547500.0%), from €60 to €2.7m
- Debts after one year -€209,046
down €209,046 (-49.3%), from €423,726 to €214,680
- Financial income -€1.6m
down €1.6m (-79.5%), from €2.0m to €402,913
of which Non-recurring financial income: -€848,415
- Taxes +€15,652
up €15,652 (+101.9%), from €15,359 to €31,011
- Gross operating margin -€4,099
down €4,099 (-3.1%), from €132,840 to €128,742
- Staff costs +€3,743
up €3,743 (+8.3%), from €44,864 to €48,607
- Financial charges -€3,030
down €3,030 (-25.4%), from €11,938 to €8,908
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 | €3,886,271 | €3,597,628 | -€288,643 | -7.4% |
| Fixed assets | 21/28 | €986,351 | €862,800 | -€123,552 | -12.5% |
| Tangible fixed assets | 22/27 | €131,619 | €87,391 | -€44,229 | -33.6% |
| Furniture and vehicles | 24 | €122,608 | €79,638 | -€42,970 | -35.0% |
| Other tangible fixed assets | 26 | €9,011 | €7,753 | -€1,258 | -14.0% |
| Financial fixed assets | 28 | €854,732 | €775,409 | -€79,323 | -9.3% |
| Current assets | 29/58 | €2,899,919 | €2,734,828 | -€165,091 | -5.7% |
| Amounts receivable within one year | 40/41 | €1,324,621 | €1,130,888 | -€193,733 | -14.6% |
| Trade receivables | 40 | €24,159 | €22,356 | -€1,804 | -7.5% |
| Other amounts receivable | 41 | €1,300,462 | €1,108,533 | -€191,929 | -14.8% |
| Current investments | 50/53 | €1,550,000 | €1,550,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,277 | €51,068 | +€31,791 | +164.9% |
| Deferred charges and accrued income | 490/1 | €6,021 | €2,872 | -€3,149 | -52.3% |
| Total equity and liabilities | 10/49 | €3,886,271 | €3,597,628 | -€288,643 | -7.4% |
| Equity | 10/15 | €3,233,219 | €420,207 | -€2.8m | -87.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,210,000 | €400,000 | -€2.8m | -87.5% |
| Distributable reserves | 133 | €3,210,000 | €400,000 | -€2.8m | -87.5% |
| Profit (loss) carried forward | 14 | €4,619 | €1,607 | -€3,012 | -65.2% |
| Amounts payable | 17/49 | €653,051 | €3,177,420 | +€2.5m | +386.6% |
| Amounts payable after more than one year | 17 | €423,726 | €214,680 | -€209,046 | -49.3% |
| Financial debts | 170/4 | €423,726 | €214,680 | -€209,046 | -49.3% |
| Amounts payable within one year | 42/48 | €229,325 | €2,962,740 | +€2.7m | +1191.9% |
| Current portion of amounts payable after more than one year | 42 | €210,935 | €209,046 | -€1,889 | -0.9% |
| Trade debts | 44 | €2,659 | €3,246 | +€588 | +22.1% |
| Suppliers | 440/4 | €2,659 | €3,246 | +€588 | +22.1% |
| Taxes, remuneration and social security | 45 | €15,671 | €21,888 | +€6,216 | +39.7% |
| Taxes | 450/3 | €10,108 | €15,973 | +€5,866 | +58.0% |
| Remuneration and social security | 454/9 | €5,564 | €5,914 | +€351 | +6.3% |
| Other amounts payable | 47/48 | €60 | €2,728,560 | +€2.7m | +4547500.0% |
| Remuneration, social security and pensions | 62 | €44,864 | €48,607 | +€3,743 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,180 | €44,229 | +€1,048 | +2.4% |
| Other operating charges | 640/8 | €1,778 | €1,912 | +€134 | +7.5% |
| Gross operating margin | 9900 | €132,840 | €128,742 | -€4,099 | -3.1% |
| Operating profit (loss) | 9901 | €43,018 | €33,994 | -€9,024 | -21.0% |
| Financial income | 75/76B | €1,970,139 | €402,913 | -€1.6m | -79.5% |
| Recurring financial income | 75 | €960,913 | €242,102 | -€718,811 | -74.8% |
| Non-recurring financial income | 76B | €1,009,225 | €160,810 | -€848,415 | -84.1% |
| Financial charges | 65/66B | €11,938 | €8,908 | -€3,030 | -25.4% |
| Recurring financial charges | 65 | €11,938 | €8,908 | -€3,030 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €2,001,218 | €427,999 | -€1.6m | -78.6% |
| Income taxes | 67/77 | €15,359 | €31,011 | +€15,652 | +101.9% |
| Profit (loss) for the period | 9904 | €1,985,859 | €396,988 | -€1.6m | -80.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,985,859 | €396,988 | -€1.6m | -80.0% |
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 4 October 2026 via checked.be.