PNDA: 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.
PNDA
Largest movements
- Receivables within one year -€14,650
down €14,650 (-25.5%), from €57,490 to €42,840
of which Trade receivables: -€36,997
- Deferred charges and accrued income -€3,693
no longer reported in 2025 (was €3,693)
- Cash -€2,645
down €2,645 (-97.5%), from €2,712 to €67
mainly Net result for the year (-€11,849) and Trade debts (-€5,573)
- Profit (loss) carried forward -€11,849
down €11,849, from €8,134 to -€3,715
- Trade debts -€5,573
down €5,573 (-49.6%), from €11,228 to €5,655
- Tax, wage and social debts -€2,081
down €2,081 (-28.5%), from €7,311 to €5,230
- Short-term financial debts -€1,487
down €1,487 (-13.5%), from €11,017 to €9,530
- Gross operating margin -€3,396
down €3,396 (-65.8%), from -€5,163 to -€8,559
- Financial charges +€1,521
up €1,521 (+166%), from €918 to €2,439
- Other operating charges +€850
new in 2025: €850
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 | €63,946 | €42,957 | -€20,989 | -32.8% |
| Fixed assets | 21/28 | €50 | €50 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €63,896 | €42,907 | -€20,989 | -32.8% |
| Amounts receivable within one year | 40/41 | €57,490 | €42,840 | -€14,650 | -25.5% |
| Trade receivables | 40 | €44,255 | €7,258 | -€36,997 | -83.6% |
| Other amounts receivable | 41 | €13,235 | €35,582 | +€22,346 | +169% |
| Cash at bank and in hand | 54/58 | €2,712 | €67 | -€2,645 | -97.5% |
| Deferred charges and accrued income | 490/1 | €3,693 | - | -€3,693 | |
| Total equity and liabilities | 10/49 | €63,946 | €42,957 | -€20,989 | -32.8% |
| Equity | 10/15 | €34,324 | €22,475 | -€11,849 | -34.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €19,990 | €19,990 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €18,130 | €18,130 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,134 | -€3,715 | -€11,849 | |
| Amounts payable | 17/49 | €29,622 | €20,482 | -€9,140 | -30.9% |
| Amounts payable within one year | 42/48 | €29,556 | €20,415 | -€9,141 | -30.9% |
| Financial debts | 43 | €11,017 | €9,530 | -€1,487 | -13.5% |
| Credit institutions | 430/8 | €11,017 | €9,530 | -€1,487 | -13.5% |
| Trade debts | 44 | €11,228 | €5,655 | -€5,573 | -49.6% |
| Suppliers | 440/4 | €11,228 | €5,655 | -€5,573 | -49.6% |
| Taxes, remuneration and social security | 45 | €7,311 | €5,230 | -€2,081 | -28.5% |
| Taxes | 450/3 | €7,311 | €5,230 | -€2,081 | -28.5% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Other operating charges | 640/8 | - | €850 | +€850 | |
| Gross operating margin | 9900 | -€5,163 | -€8,559 | -€3,396 | -65.8% |
| Operating profit (loss) | 9901 | -€5,163 | -€9,410 | -€4,247 | -82.3% |
| Financial charges | 65/66B | €918 | €2,439 | +€1,521 | +166% |
| Recurring financial charges | 65 | €918 | €2,439 | +€1,521 | +166% |
| Profit (loss) for the period before taxes | 9903 | -€6,081 | -€11,849 | -€5,768 | -94.8% |
| Profit (loss) for the period | 9904 | -€6,081 | -€11,849 | -€5,768 | -94.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,081 | -€11,849 | -€5,768 | -94.8% |
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 17 October 2026 via checked.be.