PSB: 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.
PSB
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+40.7%), from €2.6m to €3.7m
of which Land and buildings: +€868,864
- Cash +€79,969
up €79,969 (+300%), from €26,620 to €106,589
mainly Trade debts (+€585,556) and Debts after one year (+€510,102)
- Trade debts +€585,556
up €585,556 (+11,584%), from €5,055 to €590,611
- Debts after one year +€510,102
up €510,102 (+24.2%), from €2.1m to €2.6m
- Gross operating margin +€60,610
up €60,610 (+29.2%), from €207,836 to €268,445
- Depreciation +€13,136
up €13,136 (+8.9%), from €147,232 to €160,368
- Financial charges +€12,007
up €12,007 (+28.1%), from €42,669 to €54,676
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 | €2,662,454 | €3,812,498 | +€1.2m | +43.2% |
| Fixed assets | 21/28 | €2,611,901 | €3,674,281 | +€1.1m | +40.7% |
| Tangible fixed assets | 22/27 | €2,611,901 | €3,674,281 | +€1.1m | +40.7% |
| Land and buildings | 22 | €2,125,368 | €2,994,232 | +€868,864 | +40.9% |
| Plant, machinery and equipment | 23 | €387,771 | €336,719 | -€51,051 | -13.2% |
| Furniture and vehicles | 24 | €3,067 | €2,222 | -€846 | -27.6% |
| Leasing and similar rights | 25 | €95,695 | €341,108 | +€245,413 | +256% |
| Current assets | 29/58 | €50,553 | €138,218 | +€87,664 | +173% |
| Amounts receivable within one year | 40/41 | €17,882 | €19,982 | +€2,100 | +11.7% |
| Trade receivables | 40 | €17,882 | €19,982 | +€2,100 | +11.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €26,620 | €106,589 | +€79,969 | +300% |
| Deferred charges and accrued income | 490/1 | €6,051 | €11,646 | +€5,595 | +92.5% |
| Total equity and liabilities | 10/49 | €2,662,454 | €3,812,498 | +€1.2m | +43.2% |
| Equity | 10/15 | €343,826 | €358,931 | +€15,105 | +4.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €43,826 | €58,931 | +€15,105 | +34.5% |
| Distributable reserves | 133 | €43,826 | €58,931 | +€15,105 | +34.5% |
| Amounts payable | 17/49 | €2,318,628 | €3,453,567 | +€1.1m | +48.9% |
| Amounts payable after more than one year | 17 | €2,106,053 | €2,616,155 | +€510,102 | +24.2% |
| Financial debts | 170/4 | €2,106,053 | €2,616,155 | +€510,102 | +24.2% |
| Amounts payable within one year | 42/48 | €212,576 | €837,413 | +€624,837 | +294% |
| Current portion of amounts payable after more than one year | 42 | €179,375 | €216,077 | +€36,702 | +20.5% |
| Trade debts | 44 | €5,055 | €590,611 | +€585,556 | +11,584% |
| Suppliers | 440/4 | €5,055 | €590,611 | +€585,556 | +11,584% |
| Taxes, remuneration and social security | 45 | €9,669 | €12,248 | +€2,579 | +26.7% |
| Taxes | 450/3 | €9,669 | €12,248 | +€2,579 | +26.7% |
| Other amounts payable | 47/48 | €18,477 | €18,477 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,232 | €160,368 | +€13,136 | +8.9% |
| Other operating charges | 640/8 | €2,999 | €3,110 | +€111 | +3.7% |
| Non-recurring operating charges | 66A | - | €35,187 | +€35,187 | |
| Gross operating margin | 9900 | €207,836 | €268,445 | +€60,610 | +29.2% |
| Operating profit (loss) | 9901 | €57,605 | €69,780 | +€12,175 | +21.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €42,669 | €54,676 | +€12,007 | +28.1% |
| Recurring financial charges | 65 | €42,669 | €54,676 | +€12,007 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | €14,936 | €15,105 | +€169 | +1.1% |
| Income taxes | 67/77 | €2,532 | €0 | -€2,532 | -100% |
| Profit (loss) for the period | 9904 | €12,404 | €15,105 | +€2,701 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,404 | €15,105 | +€2,701 | +21.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.