PSARI: 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.
PSARI
Largest movements
- Cash +€171,632
up €171,632 (+90.2%), from €190,253 to €361,886
mainly Receivables within one year (+€116,468) and Net result for the year (+€114,122)
- Receivables within one year -€116,468
down €116,468 (-82.4%), from €141,297 to €24,829
of which Trade receivables: -€111,542
- Other debts +€77,710
up €77,710 (+36.9%), from €210,626 to €288,336
- Trade debts -€14,265
down €14,265 (-94.6%), from €15,075 to €810
- Tax, wage and social debts -€6,224
down €6,224 (-11.9%), from €52,165 to €45,941
- Gross operating margin +€14,560
up €14,560 (+11.0%), from €132,963 to €147,522
- Taxes +€3,348
up €3,348 (+11.5%), from €29,012 to €32,360
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 | €333,059 | €388,548 | +€55,488 | +16.7% |
| Fixed assets | 21/28 | €1,410 | €1,833 | +€422 | +30.0% |
| Tangible fixed assets | 22/27 | €1,410 | €1,833 | +€422 | +30.0% |
| Furniture and vehicles | 24 | €1,410 | €1,833 | +€422 | +30.0% |
| Current assets | 29/58 | €331,649 | €386,715 | +€55,066 | +16.6% |
| Amounts receivable within one year | 40/41 | €141,297 | €24,829 | -€116,468 | -82.4% |
| Trade receivables | 40 | €136,372 | €24,829 | -€111,542 | -81.8% |
| Other amounts receivable | 41 | €4,926 | - | -€4,926 | |
| Cash at bank and in hand | 54/58 | €190,253 | €361,886 | +€171,632 | +90.2% |
| Deferred charges and accrued income | 490/1 | €99 | - | -€99 | |
| Total equity and liabilities | 10/49 | €333,059 | €388,548 | +€55,488 | +16.7% |
| Equity | 10/15 | €55,193 | €53,460 | -€1,733 | -3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,860 | €34,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €33,000 | €33,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,733 | €0 | -€1,733 | -100.0% |
| Amounts payable | 17/49 | €277,866 | €335,088 | +€57,221 | +20.6% |
| Amounts payable within one year | 42/48 | €277,866 | €335,088 | +€57,221 | +20.6% |
| Trade debts | 44 | €15,075 | €810 | -€14,265 | -94.6% |
| Suppliers | 440/4 | €15,075 | €810 | -€14,265 | -94.6% |
| Taxes, remuneration and social security | 45 | €52,165 | €45,941 | -€6,224 | -11.9% |
| Taxes | 450/3 | €52,165 | €45,941 | -€6,224 | -11.9% |
| Other amounts payable | 47/48 | €210,626 | €288,336 | +€77,710 | +36.9% |
| Remuneration, social security and pensions | 62 | €18 | - | -€18 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €741 | €734 | -€7 | -1.0% |
| Other operating charges | 640/8 | €796 | - | -€796 | |
| Gross operating margin | 9900 | €132,963 | €147,522 | +€14,560 | +11.0% |
| Operating profit (loss) | 9901 | €131,408 | €146,789 | +€15,381 | +11.7% |
| Financial income | 75/76B | €1 | €7 | +€5 | +452.5% |
| Recurring financial income | 75 | €1 | €7 | +€5 | +452.5% |
| Financial charges | 65/66B | €664 | €314 | -€351 | -52.8% |
| Recurring financial charges | 65 | €664 | €314 | -€351 | -52.8% |
| Profit (loss) for the period before taxes | 9903 | €130,745 | €146,482 | +€15,737 | +12.0% |
| Income taxes | 67/77 | €29,012 | €32,360 | +€3,348 | +11.5% |
| Profit (loss) for the period | 9904 | €101,733 | €114,122 | +€12,389 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €101,733 | €114,122 | +€12,389 | +12.2% |
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.