PNM: 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.
PNM
Largest movements
- Receivables within one year -€42,024
down €42,024 (-40.4%), from €104,049 to €62,025
of which Trade receivables: -€73,635
- Stocks and contracts +€30,000
up €30,000 (+76.0%), from €39,452 to €69,452
- Tangible fixed assets +€11,160
up €11,160 (+72.4%), from €15,418 to €26,578
of which Furniture and vehicles: +€7,477
- Deferred charges and accrued income +€3,325
up €3,325 (+835%), from €398 to €3,723
- Cash -€2,140
down €2,140 (-14.6%), from €14,614 to €12,474
mainly Contributions, distributions and other (-€70,000) and Trade debts (-€31,939)
- Other debts +€43,393
up €43,393 (+163%), from €26,607 to €70,000
- Trade debts -€31,939
down €31,939 (-58.9%), from €54,265 to €22,326
- Tax, wage and social debts -€9,917
down €9,917 (-47.2%), from €21,021 to €11,104
of which Taxes: -€9,486
- Gross operating margin -€36,224
down €36,224 (-26.8%), from €135,134 to €98,909
- Financial charges -€2,200
down €2,200 (-56.4%), from €3,901 to €1,701
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 | €176,883 | €177,203 | +€321 | +0.2% |
| Fixed assets | 21/28 | €15,418 | €26,578 | +€11,160 | +72.4% |
| Tangible fixed assets | 22/27 | €15,418 | €26,578 | +€11,160 | +72.4% |
| Plant, machinery and equipment | 23 | €6,171 | €9,853 | +€3,683 | +59.7% |
| Furniture and vehicles | 24 | €9,247 | €16,725 | +€7,477 | +80.9% |
| Current assets | 29/58 | €161,465 | €150,625 | -€10,839 | -6.7% |
| Stocks and contracts in progress | 3 | €39,452 | €69,452 | +€30,000 | +76.0% |
| Stocks | 30/36 | €39,452 | €69,452 | +€30,000 | +76.0% |
| Amounts receivable within one year | 40/41 | €104,049 | €62,025 | -€42,024 | -40.4% |
| Trade receivables | 40 | €90,383 | €16,748 | -€73,635 | -81.5% |
| Other amounts receivable | 41 | €13,666 | €45,276 | +€31,611 | +231% |
| Current investments | 50/53 | €2,952 | €2,952 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,614 | €12,474 | -€2,140 | -14.6% |
| Deferred charges and accrued income | 490/1 | €398 | €3,723 | +€3,325 | +835% |
| Total equity and liabilities | 10/49 | €176,883 | €177,203 | +€321 | +0.2% |
| Equity | 10/15 | €74,918 | €73,730 | -€1,188 | -1.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €72,918 | €71,730 | -€1,188 | -1.6% |
| Distributable reserves | 133 | €72,918 | €71,730 | -€1,188 | -1.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €101,965 | €103,474 | +€1,509 | +1.5% |
| Amounts payable within one year | 42/48 | €101,933 | €103,474 | +€1,540 | +1.5% |
| Financial debts | 43 | €41 | €44 | +€3 | +7.3% |
| Credit institutions | 430/8 | €41 | €44 | +€3 | +7.3% |
| Trade debts | 44 | €54,265 | €22,326 | -€31,939 | -58.9% |
| Suppliers | 440/4 | €54,265 | €22,326 | -€31,939 | -58.9% |
| Taxes, remuneration and social security | 45 | €21,021 | €11,104 | -€9,917 | -47.2% |
| Taxes | 450/3 | €18,090 | €8,604 | -€9,486 | -52.4% |
| Remuneration and social security | 454/9 | €2,931 | €2,500 | -€431 | -14.7% |
| Other amounts payable | 47/48 | €26,607 | €70,000 | +€43,393 | +163% |
| Accrued charges and deferred income | 492/3 | €32 | €0 | -€32 | -100% |
| Remuneration, social security and pensions | 62 | €4,108 | €5,219 | +€1,112 | +27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,790 | €4,394 | +€604 | +15.9% |
| Other operating charges | 640/8 | €871 | €1,315 | +€444 | +51.0% |
| Gross operating margin | 9900 | €135,134 | €98,909 | -€36,224 | -26.8% |
| Operating profit (loss) | 9901 | €126,365 | €87,982 | -€38,383 | -30.4% |
| Financial income | 75/76B | €741 | €1,135 | +€394 | +53.2% |
| Recurring financial income | 75 | €741 | €1,135 | +€394 | +53.2% |
| Financial charges | 65/66B | €3,901 | €1,701 | -€2,200 | -56.4% |
| Recurring financial charges | 65 | €3,901 | €1,701 | -€2,200 | -56.4% |
| Profit (loss) for the period before taxes | 9903 | €123,205 | €87,416 | -€35,789 | -29.0% |
| Income taxes | 67/77 | €17,980 | €18,604 | +€624 | +3.5% |
| Profit (loss) for the period | 9904 | €105,225 | €68,812 | -€36,413 | -34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €105,225 | €68,812 | -€36,413 | -34.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.