PNP Group: 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.
PNP Group
Largest movements
- Cash +€81,249
up €81,249 (+154%), from €52,827 to €134,076
mainly Net result for the year (+€80,695) and Tax, wage and social debts (+€36,834)
- Receivables within one year -€13,456
down €13,456 (-21.6%), from €62,227 to €48,771
of which Trade receivables: -€18,617
- Tangible fixed assets -€9,559
down €9,559 (-17.9%), from €53,392 to €43,833
of which Land and buildings: -€7,992
- Stocks and contracts -€2,854
down €2,854 (-15.3%), from €18,683 to €15,829
- Reserves +€71,078
up €71,078 (+1,497%), from €4,748 to €75,826
of which Distributable reserves: +€71,077
- Tax, wage and social debts +€36,834
up €36,834 (+274%), from €13,430 to €50,264
- Profit (loss) carried forward -€36,382
no longer reported in 2025 (was €36,382)
- Other debts -€10,924
down €10,924 (-12.2%), from €89,612 to €78,688
- Trade debts -€4,859
down €4,859 (-22.1%), from €21,957 to €17,098
- Gross operating margin +€71,190
up €71,190 (+118%), from €60,327 to €131,517
- Taxes +€22,736
up €22,736 (+304%), from €7,480 to €30,216
- Write-downs -€9,836
down €9,836 (-85.0%), from €11,577 to €1,741
- Other operating charges -€1,724
down €1,724 (-36.1%), from €4,777 to €3,053
- Depreciation -€1,655
down €1,655 (-14.8%), from €11,214 to €9,559
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 | €189,229 | €244,976 | +€55,747 | +29.5% |
| Fixed assets | 21/28 | €55,492 | €45,933 | -€9,559 | -17.2% |
| Tangible fixed assets | 22/27 | €53,392 | €43,833 | -€9,559 | -17.9% |
| Land and buildings | 22 | €49,542 | €41,550 | -€7,992 | -16.1% |
| Plant, machinery and equipment | 23 | €2,231 | €1,209 | -€1,022 | -45.8% |
| Furniture and vehicles | 24 | €1,619 | €1,074 | -€545 | -33.7% |
| Financial fixed assets | 28 | €2,100 | €2,100 | = | 0.0% |
| Current assets | 29/58 | €133,737 | €199,043 | +€65,306 | +48.8% |
| Stocks and contracts in progress | 3 | €18,683 | €15,829 | -€2,854 | -15.3% |
| Stocks | 30/36 | €18,683 | €15,829 | -€2,854 | -15.3% |
| Amounts receivable within one year | 40/41 | €62,227 | €48,771 | -€13,456 | -21.6% |
| Trade receivables | 40 | €61,623 | €43,006 | -€18,617 | -30.2% |
| Other amounts receivable | 41 | €604 | €5,765 | +€5,161 | +854% |
| Cash at bank and in hand | 54/58 | €52,827 | €134,076 | +€81,249 | +154% |
| Deferred charges and accrued income | 490/1 | - | €366 | +€366 | |
| Total equity and liabilities | 10/49 | €189,229 | €244,976 | +€55,747 | +29.5% |
| Equity | 10/15 | €64,230 | €98,926 | +€34,696 | +54.0% |
| Contributions | 10/11 | €23,100 | €23,100 | = | 0.0% |
| Capital | 10 | - | €23,100 | +€23,100 | |
| Issued capital | 100 | - | €23,100 | +€23,100 | |
| Contributions outside capital | 11 | €23,100 | - | -€23,100 | |
| Other | 1109/19 | €23,100 | - | -€23,100 | |
| Reserves | 13 | €4,748 | €75,826 | +€71,078 | +1,497% |
| Tax-exempt reserves | 132 | €4,748 | €4,748 | +€0 | 0.0% |
| Distributable reserves | 133 | - | €71,077 | +€71,077 | |
| Profit (loss) carried forward | 14 | €36,382 | - | -€36,382 | |
| Amounts payable | 17/49 | €124,999 | €146,050 | +€21,051 | +16.8% |
| Amounts payable within one year | 42/48 | €124,999 | €146,050 | +€21,051 | +16.8% |
| Trade debts | 44 | €21,957 | €17,098 | -€4,859 | -22.1% |
| Suppliers | 440/4 | €21,957 | €17,098 | -€4,859 | -22.1% |
| Taxes, remuneration and social security | 45 | €13,430 | €50,264 | +€36,834 | +274% |
| Taxes | 450/3 | €13,430 | €50,264 | +€36,834 | +274% |
| Other amounts payable | 47/48 | €89,612 | €78,688 | -€10,924 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,214 | €9,559 | -€1,655 | -14.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,577 | €1,741 | -€9,836 | -85.0% |
| Other operating charges | 640/8 | €4,777 | €3,053 | -€1,724 | -36.1% |
| Non-recurring operating charges | 66A | - | €6,224 | +€6,224 | |
| Gross operating margin | 9900 | €60,327 | €131,517 | +€71,190 | +118% |
| Operating profit (loss) | 9901 | €32,759 | €110,940 | +€78,181 | +239% |
| Financial income | 75/76B | €10 | €152 | +€142 | +1,423% |
| Recurring financial income | 75 | €10 | €152 | +€142 | +1,423% |
| Financial charges | 65/66B | €1,738 | €181 | -€1,557 | -89.6% |
| Recurring financial charges | 65 | €1,434 | €181 | -€1,253 | -87.4% |
| Non-recurring financial charges | 66B | €304 | - | -€304 | |
| Profit (loss) for the period before taxes | 9903 | €31,031 | €110,911 | +€79,880 | +257% |
| Income taxes | 67/77 | €7,480 | €30,216 | +€22,736 | +304% |
| Profit (loss) for the period | 9904 | €23,551 | €80,695 | +€57,144 | +243% |
| Profit (loss) for the period to be appropriated | 9905 | €23,551 | €80,695 | +€57,144 | +243% |
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 14 October 2026 via checked.be.