PNMI: 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.
PNMI
Largest movements
- Receivables within one year -€468,423
down €468,423 (-94.5%), from €495,533 to €27,110
of which Other amounts receivable: -€468,423
- Current investments +€408,467
up €408,467 (+6.1%), from €6.7m to €7.1m
- Cash +€217,414
up €217,414 (+262%), from €82,963 to €300,377
mainly Receivables within one year (+€468,423) and Accrued charges and deferred income (+€178,799)
- Accrued charges and deferred income +€178,799
up €178,799 (+15.6%), from €1.1m to €1.3m
- Financial income -€35,681
down €35,681 (-27.4%), from €130,364 to €94,683
- Depreciation -€14,410
down €14,410 (-85.7%), from €16,821 to €2,410
- Taxes +€10,654
up €10,654 (+38.0%), from €28,062 to €38,715
- Other operating charges +€4,251
up €4,251 (+217%), from €1,955 to €6,207
- Financial charges +€3,141
up €3,141 (+63.3%), from €4,965 to €8,107
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 | €9,182,640 | €9,350,261 | +€167,621 | +1.8% |
| Fixed assets | 21/28 | €1,912,364 | €1,911,605 | -€758 | 0.0% |
| Tangible fixed assets | 22/27 | €112,364 | €111,605 | -€758 | -0.7% |
| Land and buildings | 22 | €105,212 | €105,212 | = | 0.0% |
| Furniture and vehicles | 24 | €7,151 | €6,393 | -€758 | -10.6% |
| Financial fixed assets | 28 | €1,800,000 | €1,800,000 | = | 0.0% |
| Current assets | 29/58 | €7,270,276 | €7,438,655 | +€168,379 | +2.3% |
| Amounts receivable within one year | 40/41 | €495,533 | €27,110 | -€468,423 | -94.5% |
| Trade receivables | 40 | €5,338 | €5,338 | = | 0.0% |
| Other amounts receivable | 41 | €490,195 | €21,773 | -€468,423 | -95.6% |
| Current investments | 50/53 | €6,678,046 | €7,086,512 | +€408,467 | +6.1% |
| Cash at bank and in hand | 54/58 | €82,963 | €300,377 | +€217,414 | +262% |
| Deferred charges and accrued income | 490/1 | €13,735 | €24,656 | +€10,921 | +79.5% |
| Total equity and liabilities | 10/49 | €9,182,640 | €9,350,261 | +€167,621 | +1.8% |
| Equity | 10/15 | €7,871,524 | €7,900,316 | +€28,792 | +0.4% |
| Contributions | 10/11 | €3,000,000 | €3,000,000 | = | 0.0% |
| Reserves | 13 | €4,850,000 | €4,850,000 | = | 0.0% |
| Distributable reserves | 133 | €4,850,000 | €4,850,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,524 | €50,316 | +€28,792 | +134% |
| Amounts payable | 17/49 | €1,311,116 | €1,449,945 | +€138,829 | +10.6% |
| Amounts payable within one year | 42/48 | €167,273 | €127,302 | -€39,971 | -23.9% |
| Trade debts | 44 | €2,167 | €2,369 | +€202 | +9.3% |
| Suppliers | 440/4 | €2,167 | €2,369 | +€202 | +9.3% |
| Other amounts payable | 47/48 | €165,105 | €124,933 | -€40,173 | -24.3% |
| Accrued charges and deferred income | 492/3 | €1,143,844 | €1,322,643 | +€178,799 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,821 | €2,410 | -€14,410 | -85.7% |
| Other operating charges | 640/8 | €1,955 | €6,207 | +€4,251 | +217% |
| Gross operating margin | 9900 | -€8,326 | -€10,451 | -€2,125 | -25.5% |
| Operating profit (loss) | 9901 | -€27,102 | -€19,068 | +€8,034 | +29.6% |
| Financial income | 75/76B | €130,364 | €94,683 | -€35,681 | -27.4% |
| Recurring financial income | 75 | €130,364 | €94,683 | -€35,681 | -27.4% |
| Financial charges | 65/66B | €4,965 | €8,107 | +€3,141 | +63.3% |
| Recurring financial charges | 65 | €4,965 | €8,107 | +€3,141 | +63.3% |
| Profit (loss) for the period before taxes | 9903 | €98,296 | €67,508 | -€30,788 | -31.3% |
| Income taxes | 67/77 | €28,062 | €38,715 | +€10,654 | +38.0% |
| Profit (loss) for the period | 9904 | €70,235 | €28,792 | -€41,442 | -59.0% |
| Profit (loss) for the period to be appropriated | 9905 | €70,235 | €28,792 | -€41,442 | -59.0% |
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 18 October 2026 via checked.be.