PS&U: 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.
PS&U
Largest movements
- Tangible fixed assets -€125,950
down €125,950 (-7.8%), from €1.6m to €1.5m
- Cash +€101,658
up €101,658 (+528%), from €19,249 to €120,907
mainly Other debts (+€180,000) and Depreciation (+€125,950)
- Debts after one year -€183,600
down €183,600 (-8.8%), from €2.1m to €1.9m
- Other debts +€180,000
up €180,000 (+46.5%), from €387,000 to €567,000
- Gross operating margin +€18,776
up €18,776 (+10.2%), from €183,846 to €202,622
- Depreciation +€13,198
up €13,198 (+11.7%), from €112,752 to €125,950
- Other operating charges +€12,782
up €12,782 (+85.6%), from €14,934 to €27,715
- Financial charges -€3,327
down €3,327 (-6.4%), from €52,220 to €48,893
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.
Derived cash bridge
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 | €3,145,172 | €3,123,106 | -€22,066 | -0.7% |
| Fixed assets | 21/28 | €3,115,361 | €2,989,411 | -€125,950 | -4.0% |
| Tangible fixed assets | 22/27 | €1,615,361 | €1,489,411 | -€125,950 | -7.8% |
| Land and buildings | 22 | €1,615,361 | €1,489,411 | -€125,950 | -7.8% |
| Financial fixed assets | 28 | €1,500,000 | €1,500,000 | = | 0.0% |
| Current assets | 29/58 | €29,811 | €133,695 | +€103,884 | +348% |
| Cash at bank and in hand | 54/58 | €19,249 | €120,907 | +€101,658 | +528% |
| Deferred charges and accrued income | 490/1 | €10,563 | €12,788 | +€2,225 | +21.1% |
| Total equity and liabilities | 10/49 | €3,145,172 | €3,123,106 | -€22,066 | -0.7% |
| Equity | 10/15 | €468,423 | €468,470 | +€47 | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €400,223 | €400,270 | +€47 | 0.0% |
| Amounts payable | 17/49 | €2,676,749 | €2,654,636 | -€22,113 | -0.8% |
| Amounts payable after more than one year | 17 | €2,076,800 | €1,893,200 | -€183,600 | -8.8% |
| Financial debts | 170/4 | €2,076,800 | €1,893,200 | -€183,600 | -8.8% |
| Amounts payable within one year | 42/48 | €599,949 | €760,236 | +€160,287 | +26.7% |
| Current portion of amounts payable after more than one year | 42 | €183,600 | €183,600 | = | 0.0% |
| Trade debts | 44 | - | €9,619 | +€9,619 | |
| Suppliers | 440/4 | - | €9,619 | +€9,619 | |
| Taxes, remuneration and social security | 45 | €29,349 | €17 | -€29,332 | -99.9% |
| Taxes | 450/3 | €29,349 | €17 | -€29,332 | -99.9% |
| Other amounts payable | 47/48 | €387,000 | €567,000 | +€180,000 | +46.5% |
| Accrued charges and deferred income | 492/3 | - | €1,200 | +€1,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,752 | €125,950 | +€13,198 | +11.7% |
| Other operating charges | 640/8 | €14,934 | €27,715 | +€12,782 | +85.6% |
| Gross operating margin | 9900 | €183,846 | €202,622 | +€18,776 | +10.2% |
| Operating profit (loss) | 9901 | €56,160 | €48,957 | -€7,203 | -12.8% |
| Financial income | 75/76B | €0 | €1 | +€0 | +67.7% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +67.7% |
| Financial charges | 65/66B | €52,220 | €48,893 | -€3,327 | -6.4% |
| Recurring financial charges | 65 | €52,220 | €48,893 | -€3,327 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €3,941 | €64 | -€3,877 | -98.4% |
| Income taxes | 67/77 | €1,074 | €17 | -€1,057 | -98.4% |
| Profit (loss) for the period | 9904 | €2,867 | €47 | -€2,820 | -98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,867 | €47 | -€2,820 | -98.4% |
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 16 October 2026 via checked.be.