PNS: 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.
PNS
Largest movements
- Tangible fixed assets -€21,819
down €21,819 (-5.9%), from €370,249 to €348,430
- Cash +€21,287
up €21,287 (+50.2%), from €42,443 to €63,729
mainly Depreciation (+€23,950) and Net result for the year (+€19,511)
- Stocks and contracts -€5,836
down €5,836 (-8.3%), from €70,578 to €64,742
- Reserves +€19,284
up €19,284 (+15.2%), from €127,160 to €146,444
- Debts after one year -€19,198
down €19,198 (-8.6%), from €222,138 to €202,940
- Gross operating margin +€17,489
up €17,489 (+33.5%), from €52,237 to €69,725
- Taxes +€4,851
up €4,851 (+156.3%), from €3,104 to €7,955
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 | €511,354 | €507,944 | -€3,409 | -0.7% |
| Fixed assets | 21/28 | €370,249 | €348,430 | -€21,819 | -5.9% |
| Tangible fixed assets | 22/27 | €370,249 | €348,430 | -€21,819 | -5.9% |
| Land and buildings | 22 | €315,020 | €306,907 | -€8,113 | -2.6% |
| Plant, machinery and equipment | 23 | €23,708 | €14,910 | -€8,798 | -37.1% |
| Furniture and vehicles | 24 | €31,522 | €26,613 | -€4,909 | -15.6% |
| Current assets | 29/58 | €141,105 | €159,515 | +€18,410 | +13.0% |
| Stocks and contracts in progress | 3 | €70,578 | €64,742 | -€5,836 | -8.3% |
| Stocks | 30/36 | €70,578 | €64,742 | -€5,836 | -8.3% |
| Amounts receivable within one year | 40/41 | €26,985 | €26,513 | -€472 | -1.8% |
| Trade receivables | 40 | €26,985 | €21,213 | -€5,772 | -21.4% |
| Other amounts receivable | 41 | - | €5,300 | +€5,300 | |
| Cash at bank and in hand | 54/58 | €42,443 | €63,729 | +€21,287 | +50.2% |
| Deferred charges and accrued income | 490/1 | €1,098 | €4,530 | +€3,432 | +312.4% |
| Total equity and liabilities | 10/49 | €511,354 | €507,944 | -€3,409 | -0.7% |
| Equity | 10/15 | €145,760 | €165,044 | +€19,284 | +13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €127,160 | €146,444 | +€19,284 | +15.2% |
| Distributable reserves | 133 | €127,160 | €146,444 | +€19,284 | +15.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €365,594 | €342,901 | -€22,693 | -6.2% |
| Amounts payable after more than one year | 17 | €222,138 | €202,940 | -€19,198 | -8.6% |
| Financial debts | 170/4 | €222,138 | €202,940 | -€19,198 | -8.6% |
| Amounts payable within one year | 42/48 | €143,316 | €139,845 | -€3,471 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €18,931 | €19,198 | +€267 | +1.4% |
| Trade debts | 44 | €4,826 | €1,574 | -€3,252 | -67.4% |
| Suppliers | 440/4 | €4,826 | €1,574 | -€3,252 | -67.4% |
| Taxes, remuneration and social security | 45 | €11,872 | €8,552 | -€3,320 | -28.0% |
| Taxes | 450/3 | €11,872 | €8,552 | -€3,320 | -28.0% |
| Other amounts payable | 47/48 | €107,686 | €110,521 | +€2,835 | +2.6% |
| Accrued charges and deferred income | 492/3 | €140 | €116 | -€24 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,476 | €23,950 | +€474 | +2.0% |
| Other operating charges | 640/8 | €5,197 | €5,696 | +€499 | +9.6% |
| Gross operating margin | 9900 | €52,237 | €69,725 | +€17,489 | +33.5% |
| Operating profit (loss) | 9901 | €23,564 | €40,080 | +€16,515 | +70.1% |
| Financial income | 75/76B | €46 | €350 | +€304 | +661.2% |
| Recurring financial income | 75 | €46 | €350 | +€304 | +661.2% |
| Financial charges | 65/66B | €13,379 | €12,964 | -€415 | -3.1% |
| Recurring financial charges | 65 | €13,379 | €12,964 | -€415 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €10,231 | €27,465 | +€17,234 | +168.4% |
| Income taxes | 67/77 | €3,104 | €7,955 | +€4,851 | +156.3% |
| Profit (loss) for the period | 9904 | €7,128 | €19,511 | +€12,383 | +173.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,128 | €19,511 | +€12,383 | +173.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.