PPV Enterprise: 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.
PPV Enterprise
Largest movements
- Cash +€36,587
up €36,587 (+173.8%), from €21,057 to €57,644
mainly Net result for the year (+€48,005) and Depreciation (+€15,155)
- Receivables within one year +€19,892
up €19,892 (+48.1%), from €41,358 to €61,251
of which Trade receivables: +€19,892
- Tangible fixed assets -€5,733
down €5,733 (-17.8%), from €32,239 to €26,506
- Reserves +€48,005
up €48,005 (+33.5%), from €143,374 to €191,379
- Tax, wage and social debts +€14,047
up €14,047 (+505.6%), from €2,778 to €16,825
of which Taxes: +€13,606
- Debts after one year -€7,802
down €7,802 (-100.0%), from €7,802 to €0
- Current portion of long-term debt -€7,191
down €7,191 (-48.0%), from €14,993 to €7,802
- Other debts +€3,976
up €3,976 (+82.4%), from €4,828 to €8,804
- Gross operating margin +€39,167
up €39,167 (+84.1%), from €46,563 to €85,730
- Taxes +€7,744
up €7,744 (+70.8%), from €10,942 to €18,686
- Depreciation +€7,092
up €7,092 (+88.0%), from €8,063 to €15,155
- Staff costs +€3,718
new in 2025: €3,718
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 | €197,805 | €247,400 | +€49,595 | +25.1% |
| Fixed assets | 21/28 | €33,214 | €26,506 | -€6,708 | -20.2% |
| Tangible fixed assets | 22/27 | €32,239 | €26,506 | -€5,733 | -17.8% |
| Furniture and vehicles | 24 | €32,239 | €26,506 | -€5,733 | -17.8% |
| Financial fixed assets | 28 | €975 | €0 | -€975 | -100.0% |
| Current assets | 29/58 | €164,591 | €220,894 | +€56,303 | +34.2% |
| Amounts receivable after more than one year | 29 | €101,000 | €101,000 | = | 0.0% |
| Other amounts receivable | 291 | €101,000 | €101,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,358 | €61,251 | +€19,892 | +48.1% |
| Trade receivables | 40 | €36,300 | €56,192 | +€19,892 | +54.8% |
| Other amounts receivable | 41 | €5,058 | €5,058 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €21,057 | €57,644 | +€36,587 | +173.8% |
| Deferred charges and accrued income | 490/1 | €1,176 | €1,000 | -€177 | -15.0% |
| Total equity and liabilities | 10/49 | €197,805 | €247,400 | +€49,595 | +25.1% |
| Equity | 10/15 | €155,774 | €203,779 | +€48,005 | +30.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €143,374 | €191,379 | +€48,005 | +33.5% |
| Distributable reserves | 133 | €143,374 | €191,379 | +€48,005 | +33.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €42,031 | €43,621 | +€1,590 | +3.8% |
| Amounts payable after more than one year | 17 | €7,802 | €0 | -€7,802 | -100.0% |
| Financial debts | 170/4 | €7,802 | €0 | -€7,802 | -100.0% |
| Amounts payable within one year | 42/48 | €34,204 | €43,274 | +€9,070 | +26.5% |
| Current portion of amounts payable after more than one year | 42 | €14,993 | €7,802 | -€7,191 | -48.0% |
| Financial debts | 43 | €20 | €0 | -€20 | -100.0% |
| Credit institutions | 430/8 | €20 | €0 | -€20 | -100.0% |
| Trade debts | 44 | €11,585 | €9,843 | -€1,742 | -15.0% |
| Suppliers | 440/4 | €11,585 | €9,843 | -€1,742 | -15.0% |
| Taxes, remuneration and social security | 45 | €2,778 | €16,825 | +€14,047 | +505.6% |
| Taxes | 450/3 | €2,778 | €16,384 | +€13,606 | +489.7% |
| Remuneration and social security | 454/9 | - | €441 | +€441 | |
| Other amounts payable | 47/48 | €4,828 | €8,804 | +€3,976 | +82.4% |
| Accrued charges and deferred income | 492/3 | €25 | €347 | +€322 | +1302.4% |
| Remuneration, social security and pensions | 62 | - | €3,718 | +€3,718 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,063 | €15,155 | +€7,092 | +88.0% |
| Other operating charges | 640/8 | €493 | €506 | +€12 | +2.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €46,563 | €85,730 | +€39,167 | +84.1% |
| Operating profit (loss) | 9901 | €38,007 | €66,352 | +€28,345 | +74.6% |
| Financial income | 75/76B | €1,692 | €1,718 | +€26 | +1.5% |
| Recurring financial income | 75 | €1,692 | €1,718 | +€26 | +1.5% |
| Financial charges | 65/66B | €1,443 | €1,380 | -€63 | -4.4% |
| Recurring financial charges | 65 | €1,443 | €1,380 | -€63 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €38,256 | €66,691 | +€28,434 | +74.3% |
| Income taxes | 67/77 | €10,942 | €18,686 | +€7,744 | +70.8% |
| Profit (loss) for the period | 9904 | €27,315 | €48,005 | +€20,690 | +75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,315 | €48,005 | +€20,690 | +75.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.