PNP Management: what changed
Two fiscal 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 Management
Largest movements
- Receivables after one year +€25,000
new in 2025: €25,000
- Receivables within one year +€18,787
up €18,787 (+52.6%), from €35,750 to €54,537
of which Trade receivables: +€18,787
- Tangible fixed assets +€7,241
up €7,241 (+288.8%), from €2,507 to €9,748
- Other debts +€47,241
up €47,241 (+1076.4%), from €4,389 to €51,630
- Profit (loss) carried forward +€5,869
up €5,869 (+28.9%), from €20,283 to €26,151
- Tax, wage and social debts -€2,556
down €2,556 (-24.3%), from €10,528 to €7,971
- Trade debts +€924
up €924 (+91.1%), from €1,014 to €1,938
- Gross operating margin -€13,575
down €13,575 (-52.5%), from €25,853 to €12,278
- Taxes -€3,340
down €3,340 (-62.1%), from €5,382 to €2,042
- Financial charges +€2,352
new in 2025: €2,352
- Depreciation +€1,828
up €1,828 (+974.1%), from €188 to €2,016
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 | €38,713 | €90,191 | +€51,478 | +133.0% |
| Fixed assets | 21/28 | €2,507 | €9,748 | +€7,241 | +288.8% |
| Tangible fixed assets | 22/27 | €2,507 | €9,748 | +€7,241 | +288.8% |
| Furniture and vehicles | 24 | €2,507 | €9,748 | +€7,241 | +288.8% |
| Current assets | 29/58 | €36,206 | €80,443 | +€44,237 | +122.2% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €35,750 | €54,537 | +€18,787 | +52.6% |
| Trade receivables | 40 | €35,748 | €54,535 | +€18,787 | +52.6% |
| Other amounts receivable | 41 | €2 | €2 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €456 | €906 | +€450 | +98.7% |
| Total equity and liabilities | 10/49 | €38,713 | €90,191 | +€51,478 | +133.0% |
| Equity | 10/15 | €22,783 | €28,651 | +€5,869 | +25.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,283 | €26,151 | +€5,869 | +28.9% |
| Amounts payable | 17/49 | €15,930 | €61,540 | +€45,610 | +286.3% |
| Amounts payable within one year | 42/48 | €15,930 | €61,540 | +€45,610 | +286.3% |
| Trade debts | 44 | €1,014 | €1,938 | +€924 | +91.1% |
| Suppliers | 440/4 | €1,014 | €1,938 | +€924 | +91.1% |
| Taxes, remuneration and social security | 45 | €10,528 | €7,971 | -€2,556 | -24.3% |
| Taxes | 450/3 | €10,528 | €7,971 | -€2,556 | -24.3% |
| Other amounts payable | 47/48 | €4,389 | €51,630 | +€47,241 | +1076.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188 | €2,016 | +€1,828 | +974.1% |
| Gross operating margin | 9900 | €25,853 | €12,278 | -€13,575 | -52.5% |
| Operating profit (loss) | 9901 | €25,665 | €10,262 | -€15,403 | -60.0% |
| Financial charges | 65/66B | - | €2,352 | +€2,352 | |
| Recurring financial charges | 65 | - | €2,352 | +€2,352 | |
| Profit (loss) for the period before taxes | 9903 | €25,665 | €7,910 | -€17,755 | -69.2% |
| Income taxes | 67/77 | €5,382 | €2,042 | -€3,340 | -62.1% |
| Profit (loss) for the period | 9904 | €20,283 | €5,869 | -€14,414 | -71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,283 | €5,869 | -€14,414 | -71.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.