PN Construct: 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.
PN Construct
Largest movements
- Tangible fixed assets -€11,467
down €11,467 (-34.9%), from €32,895 to €21,428
of which Furniture and vehicles: -€10,663
- Deferred charges and accrued income +€5,337
up €5,337 (+1,964%), from €272 to €5,608
- Receivables within one year -€1,744
down €1,744 (-5.9%), from €29,469 to €27,725
of which Other amounts receivable: -€1,338
- Cash -€746
down €746 (-10.8%), from €6,925 to €6,180
mainly Debts after one year (-€7,242) and Deferred charges and accrued income (-€5,337)
- Debts after one year -€7,242
no longer reported in 2025 (was €7,242)
- Trade debts +€6,914
up €6,914 (+3,611%), from €191 to €7,106
- Current portion of long-term debt -€4,375
down €4,375 (-37.7%), from €11,617 to €7,242
- Other debts -€3,378
down €3,378 (-8.3%), from €40,790 to €37,412
- Profit (loss) carried forward -€3,016
down €3,016 (-6.4%), from -€46,767 to -€49,783
- Gross operating margin +€13,400
up €13,400, from -€1,022 to €12,378
- Financial charges -€991
down €991 (-50.0%), from €1,980 to €989
- Other operating charges -€349
down €349 (-19.7%), from €1,772 to €1,423
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 | €69,561 | €60,941 | -€8,621 | -12.4% |
| Fixed assets | 21/28 | €32,895 | €21,428 | -€11,467 | -34.9% |
| Tangible fixed assets | 22/27 | €32,895 | €21,428 | -€11,467 | -34.9% |
| Plant, machinery and equipment | 23 | €888 | €84 | -€805 | -90.6% |
| Furniture and vehicles | 24 | €32,007 | €21,344 | -€10,663 | -33.3% |
| Current assets | 29/58 | €36,666 | €39,513 | +€2,846 | +7.8% |
| Amounts receivable within one year | 40/41 | €29,469 | €27,725 | -€1,744 | -5.9% |
| Trade receivables | 40 | €12,937 | €12,531 | -€406 | -3.1% |
| Other amounts receivable | 41 | €16,532 | €15,194 | -€1,338 | -8.1% |
| Cash at bank and in hand | 54/58 | €6,925 | €6,180 | -€746 | -10.8% |
| Deferred charges and accrued income | 490/1 | €272 | €5,608 | +€5,337 | +1,964% |
| Total equity and liabilities | 10/49 | €69,561 | €60,941 | -€8,621 | -12.4% |
| Equity | 10/15 | €9,050 | €6,034 | -€3,016 | -33.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €52,817 | €52,817 | = | 0.0% |
| Distributable reserves | 133 | €52,817 | €52,817 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,767 | -€49,783 | -€3,016 | -6.4% |
| Amounts payable | 17/49 | €60,512 | €54,907 | -€5,605 | -9.3% |
| Amounts payable after more than one year | 17 | €7,242 | - | -€7,242 | |
| Financial debts | 170/4 | €7,242 | - | -€7,242 | |
| Amounts payable within one year | 42/48 | €52,599 | €54,498 | +€1,900 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €11,617 | €7,242 | -€4,375 | -37.7% |
| Trade debts | 44 | €191 | €7,106 | +€6,914 | +3,611% |
| Suppliers | 440/4 | €191 | €7,106 | +€6,914 | +3,611% |
| Taxes, remuneration and social security | 45 | - | €2,738 | +€2,738 | |
| Taxes | 450/3 | - | €2,738 | +€2,738 | |
| Other amounts payable | 47/48 | €40,790 | €37,412 | -€3,378 | -8.3% |
| Accrued charges and deferred income | 492/3 | €671 | €408 | -€262 | -39.1% |
| Non-recurring operating income | 76A | - | €32 | +€32 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,885 | €12,820 | -€65 | -0.5% |
| Other operating charges | 640/8 | €1,772 | €1,423 | -€349 | -19.7% |
| Gross operating margin | 9900 | -€1,022 | €12,378 | +€13,400 | |
| Operating profit (loss) | 9901 | -€15,679 | -€1,865 | +€13,814 | +88.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | +200% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200% |
| Financial charges | 65/66B | €1,980 | €989 | -€991 | -50.0% |
| Recurring financial charges | 65 | €1,980 | €989 | -€991 | -50.0% |
| Profit (loss) for the period before taxes | 9903 | -€17,659 | -€2,854 | +€14,805 | +83.8% |
| Income taxes | 67/77 | €163 | €162 | -€1 | -0.7% |
| Profit (loss) for the period | 9904 | -€17,822 | -€3,016 | +€14,806 | +83.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,822 | -€3,016 | +€14,806 | +83.1% |
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 19 October 2026 via checked.be.