PNP IMMO: 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 IMMO
Largest movements
- Stocks and contracts +€170,472
up €170,472 (+131.9%), from €129,267 to €299,739
- Cash +€11,918
up €11,918 (+941.9%), from €1,265 to €13,183
mainly Debts after one year (+€146,000) and Trade debts (+€51,518)
- Receivables within one year +€8,101
up €8,101 (+9132.7%), from €89 to €8,189
- Debts after one year +€146,000
up €146,000 (+113.2%), from €129,000 to €275,000
- Trade debts +€51,518
up €51,518 (+78413.5%), from €66 to €51,583
- Profit (loss) carried forward -€7,027
down €7,027 (-158.1%), from -€4,445 to -€11,472
- Gross operating margin -€3,996
down €3,996 (-505.6%), from -€790 to -€4,787
- Financial charges +€1,392
up €1,392 (+164.1%), from €848 to €2,240
- Depreciation -€579
no longer reported in 2025 (was €579)
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.
Cash bridge derived
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 | €130,621 | €321,112 | +€190,491 | +145.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €0 | - | = | |
| Intangible fixed assets | 21 | €0 | - | = | |
| Current assets | 29/58 | €130,621 | €321,112 | +€190,491 | +145.8% |
| Stocks and contracts in progress | 3 | €129,267 | €299,739 | +€170,472 | +131.9% |
| Contracts in progress | 37 | €129,267 | €299,739 | +€170,472 | +131.9% |
| Amounts receivable within one year | 40/41 | €89 | €8,189 | +€8,101 | +9132.7% |
| Other amounts receivable | 41 | €89 | €8,189 | +€8,101 | +9132.7% |
| Cash at bank and in hand | 54/58 | €1,265 | €13,183 | +€11,918 | +941.9% |
| Total equity and liabilities | 10/49 | €130,621 | €321,112 | +€190,491 | +145.8% |
| Equity | 10/15 | €1,555 | -€5,472 | -€7,027 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,445 | -€11,472 | -€7,027 | -158.1% |
| Amounts payable | 17/49 | €129,066 | €326,583 | +€197,518 | +153.0% |
| Amounts payable after more than one year | 17 | €129,000 | €275,000 | +€146,000 | +113.2% |
| Financial debts | 170/4 | €129,000 | €275,000 | +€146,000 | +113.2% |
| Amounts payable within one year | 42/48 | €66 | €51,583 | +€51,518 | +78413.5% |
| Trade debts | 44 | €66 | €51,583 | +€51,518 | +78413.5% |
| Suppliers | 440/4 | €66 | €51,583 | +€51,518 | +78413.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €579 | - | -€579 | |
| Gross operating margin | 9900 | -€790 | -€4,787 | -€3,996 | -505.6% |
| Operating profit (loss) | 9901 | -€1,369 | -€4,787 | -€3,417 | -249.6% |
| Financial charges | 65/66B | €848 | €2,240 | +€1,392 | +164.1% |
| Recurring financial charges | 65 | €848 | €2,240 | +€1,392 | +164.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,217 | -€7,027 | -€4,809 | -216.9% |
| Profit (loss) for the period | 9904 | -€2,217 | -€7,027 | -€4,809 | -216.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,217 | -€7,027 | -€4,809 | -216.9% |
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 10 October 2026 via checked.be.