PnA management: 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.
PnA management
Largest movements
- Tangible fixed assets +€82,581
up €82,581 (+1,919%), from €4,304 to €86,885
- Cash +€12,470
up €12,470 (+23.7%), from €52,629 to €65,099
mainly Other debts (+€186,779) and Net result for the year (+€141,126)
- Reserves -€196,521
down €196,521 (-92.8%), from €211,855 to €15,334
- Other debts +€186,779
up €186,779 (+84,619%), from €221 to €187,000
- Debts after one year +€43,486
up €43,486 (+60.4%), from €72,000 to €115,486
- Tax, wage and social debts +€35,973
up €35,973 (+374%), from €9,624 to €45,598
- Short-term financial debts +€23,950
up €23,950 (+200%), from €12,000 to €35,950
- Gross operating margin +€22,886
up €22,886 (+38.9%), from €58,788 to €81,675
- Depreciation +€18,933
up €18,933 (+1,432%), from €1,322 to €20,256
- Financial income -€10,059
down €10,059 (-9.1%), from €110,083 to €100,024
- Financial charges +€5,693
up €5,693 (+7,689%), from €74 to €5,767
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 | €326,263 | €419,880 | +€93,617 | +28.7% |
| Fixed assets | 21/28 | €272,071 | €354,652 | +€82,581 | +30.4% |
| Tangible fixed assets | 22/27 | €4,304 | €86,885 | +€82,581 | +1,919% |
| Furniture and vehicles | 24 | €4,304 | €86,885 | +€82,581 | +1,919% |
| Financial fixed assets | 28 | €267,767 | €267,767 | = | 0.0% |
| Current assets | 29/58 | €54,193 | €65,228 | +€11,036 | +20.4% |
| Cash at bank and in hand | 54/58 | €52,629 | €65,099 | +€12,470 | +23.7% |
| Deferred charges and accrued income | 490/1 | €1,563 | €129 | -€1,434 | -91.7% |
| Total equity and liabilities | 10/49 | €326,263 | €419,880 | +€93,617 | +28.7% |
| Equity | 10/15 | €232,315 | €35,794 | -€196,521 | -84.6% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €211,855 | €15,334 | -€196,521 | -92.8% |
| Distributable reserves | 133 | €211,855 | €15,334 | -€196,521 | -92.8% |
| Amounts payable | 17/49 | €93,948 | €384,087 | +€290,138 | +309% |
| Amounts payable after more than one year | 17 | €72,000 | €115,486 | +€43,486 | +60.4% |
| Financial debts | 170/4 | €72,000 | €115,486 | +€43,486 | +60.4% |
| Amounts payable within one year | 42/48 | €21,948 | €268,601 | +€246,652 | +1,124% |
| Financial debts | 43 | €12,000 | €35,950 | +€23,950 | +200% |
| Other loans | 439 | €12,000 | €35,950 | +€23,950 | +200% |
| Trade debts | 44 | €103 | €53 | -€50 | -48.7% |
| Suppliers | 440/4 | €103 | €53 | -€50 | -48.7% |
| Taxes, remuneration and social security | 45 | €9,624 | €45,598 | +€35,973 | +374% |
| Taxes | 450/3 | €9,624 | €45,598 | +€35,973 | +374% |
| Other amounts payable | 47/48 | €221 | €187,000 | +€186,779 | +84,619% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,322 | €20,256 | +€18,933 | +1,432% |
| Other operating charges | 640/8 | €62 | €240 | +€178 | +287% |
| Gross operating margin | 9900 | €58,788 | €81,675 | +€22,886 | +38.9% |
| Operating profit (loss) | 9901 | €57,404 | €61,179 | +€3,775 | +6.6% |
| Financial income | 75/76B | €110,083 | €100,024 | -€10,059 | -9.1% |
| Recurring financial income | 75 | €110,083 | €100,024 | -€10,059 | -9.1% |
| Financial charges | 65/66B | €74 | €5,767 | +€5,693 | +7,689% |
| Recurring financial charges | 65 | €74 | €5,767 | +€5,693 | +7,689% |
| Profit (loss) for the period before taxes | 9903 | €167,413 | €155,435 | -€11,977 | -7.2% |
| Income taxes | 67/77 | €14,452 | €14,310 | -€143 | -1.0% |
| Profit (loss) for the period | 9904 | €152,961 | €141,126 | -€11,835 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €152,961 | €141,126 | -€11,835 | -7.7% |
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 14 October 2026 via checked.be.