PS:GROW: 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.
PS:GROW
Largest movements
- Cash +€37,378
up €37,378 (+118.7%), from €31,480 to €68,858
mainly Net result for the year (+€29,151) and Depreciation (+€13,347)
- Tangible fixed assets -€7,075
down €7,075 (-15.4%), from €45,840 to €38,765
of which Furniture and vehicles: -€7,438
- Receivables within one year -€1,317
down €1,317 (-7.2%), from €18,181 to €16,865
of which Trade receivables: -€1,890
- Reserves +€29,000
up €29,000 (+78.4%), from €37,000 to €66,000
- Debts after one year -€8,855
down €8,855 (-36.1%), from €24,560 to €15,705
- Tax, wage and social debts +€7,256
up €7,256 (+114.6%), from €6,331 to €13,587
- Trade debts -€3,601
down €3,601 (-100.0%), from €3,601 to €0
- Other debts +€2,691
up €2,691 (+21.2%), from €12,709 to €15,400
- Depreciation +€2,177
up €2,177 (+19.5%), from €11,170 to €13,347
- Gross operating margin +€1,625
up €1,625 (+3.2%), from €50,074 to €51,700
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 | €96,247 | €124,488 | +€28,240 | +29.3% |
| Fixed assets | 21/28 | €45,840 | €38,765 | -€7,075 | -15.4% |
| Tangible fixed assets | 22/27 | €45,840 | €38,765 | -€7,075 | -15.4% |
| Land and buildings | 22 | €3,491 | €3,113 | -€378 | -10.8% |
| Plant, machinery and equipment | 23 | €7,112 | €7,852 | +€740 | +10.4% |
| Furniture and vehicles | 24 | €35,237 | €27,800 | -€7,438 | -21.1% |
| Current assets | 29/58 | €50,407 | €85,722 | +€35,315 | +70.1% |
| Amounts receivable within one year | 40/41 | €18,181 | €16,865 | -€1,317 | -7.2% |
| Trade receivables | 40 | €15,866 | €13,976 | -€1,890 | -11.9% |
| Other amounts receivable | 41 | €2,316 | €2,889 | +€574 | +24.8% |
| Cash at bank and in hand | 54/58 | €31,480 | €68,858 | +€37,378 | +118.7% |
| Deferred charges and accrued income | 490/1 | €746 | €0 | -€746 | -100.0% |
| Total equity and liabilities | 10/49 | €96,247 | €124,488 | +€28,240 | +29.3% |
| Equity | 10/15 | €40,594 | €69,745 | +€29,151 | +71.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €37,000 | €66,000 | +€29,000 | +78.4% |
| Distributable reserves | 133 | €37,000 | €66,000 | +€29,000 | +78.4% |
| Profit (loss) carried forward | 14 | €594 | €745 | +€151 | +25.5% |
| Amounts payable | 17/49 | €55,653 | €54,743 | -€911 | -1.6% |
| Amounts payable after more than one year | 17 | €24,560 | €15,705 | -€8,855 | -36.1% |
| Financial debts | 170/4 | €24,560 | €15,705 | -€8,855 | -36.1% |
| Amounts payable within one year | 42/48 | €31,094 | €39,038 | +€7,944 | +25.5% |
| Current portion of amounts payable after more than one year | 42 | €8,452 | €8,855 | +€403 | +4.8% |
| Financial debts | 43 | - | €1,196 | +€1,196 | |
| Credit institutions | 430/8 | - | €1,196 | +€1,196 | |
| Trade debts | 44 | €3,601 | €0 | -€3,601 | -100.0% |
| Suppliers | 440/4 | €3,601 | €0 | -€3,601 | -100.0% |
| Taxes, remuneration and social security | 45 | €6,331 | €13,587 | +€7,256 | +114.6% |
| Taxes | 450/3 | €6,331 | €13,587 | +€7,256 | +114.6% |
| Other amounts payable | 47/48 | €12,709 | €15,400 | +€2,691 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,170 | €13,347 | +€2,177 | +19.5% |
| Other operating charges | 640/8 | €50 | €250 | +€200 | +400.2% |
| Gross operating margin | 9900 | €50,074 | €51,700 | +€1,625 | +3.2% |
| Operating profit (loss) | 9901 | €38,854 | €38,103 | -€752 | -1.9% |
| Financial income | 75/76B | €1 | €1 | -€1 | -53.1% |
| Recurring financial income | 75 | €1 | €1 | -€1 | -53.1% |
| Financial charges | 65/66B | €1,890 | €1,476 | -€414 | -21.9% |
| Recurring financial charges | 65 | €1,890 | €1,476 | -€414 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €36,966 | €36,627 | -€338 | -0.9% |
| Income taxes | 67/77 | €7,852 | €7,476 | -€376 | -4.8% |
| Profit (loss) for the period | 9904 | €29,114 | €29,151 | +€37 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,114 | €29,151 | +€37 | +0.1% |
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 3 October 2026 via checked.be.