PREO: 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.
PREO
Largest movements
- Receivables within one year +€153,229
up €153,229 (+394.6%), from €38,828 to €192,057
of which Trade receivables: +€153,229
- Cash +€50,977
up €50,977 (+20.9%), from €244,383 to €295,359
mainly Net result for the year (+€95,936) and Trade debts (+€88,555)
- Reserves +€94,270
up €94,270 (+41.5%), from €226,891 to €321,162
- Trade debts +€88,555
up €88,555 (+8707.1%), from €1,017 to €89,573
- Tax, wage and social debts +€33,493
up €33,493 (+135.8%), from €24,655 to €58,149
- Debts after one year -€5,440
down €5,440 (-100.0%), from €5,440 to €0
- Short-term financial debts -€5,092
down €5,092 (-100.0%), from €5,092 to €0
- Gross operating margin +€54,381
up €54,381 (+61.0%), from €89,220 to €143,602
- Taxes +€17,183
up €17,183 (+77.2%), from €22,251 to €39,435
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 | €299,411 | €506,211 | +€206,800 | +69.1% |
| Fixed assets | 21/28 | €11,921 | €12,727 | +€806 | +6.8% |
| Tangible fixed assets | 22/27 | €11,921 | €12,227 | +€306 | +2.6% |
| Land and buildings | 22 | €10,427 | €8,915 | -€1,512 | -14.5% |
| Plant, machinery and equipment | 23 | - | €2,362 | +€2,362 | |
| Furniture and vehicles | 24 | €1,494 | €949 | -€545 | -36.5% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €287,490 | €493,484 | +€205,994 | +71.7% |
| Amounts receivable within one year | 40/41 | €38,828 | €192,057 | +€153,229 | +394.6% |
| Trade receivables | 40 | €38,828 | €192,057 | +€153,229 | +394.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €244,383 | €295,359 | +€50,977 | +20.9% |
| Deferred charges and accrued income | 490/1 | €4,279 | €6,067 | +€1,788 | +41.8% |
| Total equity and liabilities | 10/49 | €299,411 | €506,211 | +€206,800 | +69.1% |
| Equity | 10/15 | €246,891 | €341,162 | +€94,270 | +38.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €226,891 | €321,162 | +€94,270 | +41.5% |
| Distributable reserves | 133 | €226,891 | €321,162 | +€94,270 | +41.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,520 | €165,049 | +€112,529 | +214.3% |
| Amounts payable after more than one year | 17 | €5,440 | €0 | -€5,440 | -100.0% |
| Financial debts | 170/4 | €5,440 | €0 | -€5,440 | -100.0% |
| Amounts payable within one year | 42/48 | €43,079 | €160,831 | +€117,752 | +273.3% |
| Current portion of amounts payable after more than one year | 42 | €5,337 | €5,440 | +€103 | +1.9% |
| Financial debts | 43 | €5,092 | €0 | -€5,092 | -100.0% |
| Credit institutions | 430/8 | €5,092 | €0 | -€5,092 | -100.0% |
| Trade debts | 44 | €1,017 | €89,573 | +€88,555 | +8707.1% |
| Suppliers | 440/4 | €1,017 | €89,573 | +€88,555 | +8707.1% |
| Taxes, remuneration and social security | 45 | €24,655 | €58,149 | +€33,493 | +135.8% |
| Taxes | 450/3 | €24,655 | €58,149 | +€33,493 | +135.8% |
| Other amounts payable | 47/48 | €6,978 | €7,670 | +€693 | +9.9% |
| Accrued charges and deferred income | 492/3 | €4,001 | €4,218 | +€217 | +5.4% |
| Non-recurring operating income | 76A | - | €3,620 | +€3,620 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,329 | €6,156 | -€1,173 | -16.0% |
| Other operating charges | 640/8 | €511 | €47 | -€464 | -90.7% |
| Gross operating margin | 9900 | €89,220 | €143,602 | +€54,381 | +61.0% |
| Operating profit (loss) | 9901 | €81,380 | €137,398 | +€56,018 | +68.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €1,651 | €2,027 | +€377 | +22.8% |
| Recurring financial charges | 65 | €1,651 | €2,027 | +€377 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €79,730 | €135,371 | +€55,642 | +69.8% |
| Income taxes | 67/77 | €22,251 | €39,435 | +€17,183 | +77.2% |
| Profit (loss) for the period | 9904 | €57,478 | €95,936 | +€38,458 | +66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €57,478 | €95,936 | +€38,458 | +66.9% |
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.