PSDS: what changed
What changed
PSDS
NACE 96.230, Day spas, saunas and steam baths
filed annual accounts (NBB)
Net result for the year
€38,439
2024 · €33,668+€4,771
Equity
€113,292
2024 · €74,853+€38,439
Cash
€26,952
2024 · €30,422-€3,469
Balance sheet total
€496,815
2024 · €532,124-€35,309
Largest movements
Assets
- Tangible fixed assets -€32,382
down €32,382 (-6.5%), from €496,877 to €464,495
of which Plant, machinery and equipment: -€21,469
Equity and liabilities
- Profit (loss) carried forward +€38,439
new in 2025: €38,439
- Debts after one year -€35,119
down €35,119 (-10.3%), from €341,418 to €306,298
- Other debts -€26,923
down €26,923 (-56.0%), from €48,087 to €21,164
- Current portion of long-term debt -€10,465
down €10,465 (-23.0%), from €45,590 to €35,125
Income statement
- Depreciation -€19,932
down €19,932 (-30.0%), from €66,489 to €46,557
- Gross operating margin -€13,725
down €13,725 (-11.3%), from €121,269 to €107,544
- Financial charges -€1,609
down €1,609 (-13.6%), from €11,817 to €10,208
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€33,668
Gross operating margin
-€13,725
Depreciation
+€19,932
Other operating charges
-€46
Other operating items
-€2,098
Financial income
+€0
Financial charges
+€1,609
Taxes
-€902
Result 2025
€38,439
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€56,291
Investment
-€14,176
Financing
-€45,584
Cash 2024
€30,422
From operations (derived)
+€56,291
Net result for the year
+€38,439
Depreciation
+€46,557
Smaller working-capital items
-€54
Receivables within one year
-€390
Deferred charges and accrued income
-€124
Trade debts
+€1,240
Advances received
-€2,455
Other debts
-€26,923
Investment (derived)
-€14,176
Investment in fixed assets (net)
-€14,176
Financing
-€45,584
Debts after one year
-€35,119
Current portion of long-term debt
-€10,465
Cash 2025
€26,952
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €532,124 | €496,815 | -€35,309 | -6.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €498,012 | €465,630 | -€32,382 | -6.5% |
| Tangible fixed assets | 22/27 | €496,877 | €464,495 | -€32,382 | -6.5% |
| Land and buildings | 22 | €95,269 | €83,309 | -€11,960 | -12.6% |
| Plant, machinery and equipment | 23 | €400,273 | €378,804 | -€21,469 | -5.4% |
| Furniture and vehicles | 24 | €1,334 | €2,382 | +€1,048 | +78.5% |
| Financial fixed assets | 28 | €1,135 | €1,135 | = | 0.0% |
| Current assets | 29/58 | €34,112 | €31,184 | -€2,928 | -8.6% |
| Stocks and contracts in progress | 3 | €726 | €754 | +€28 | +3.9% |
| Stocks | 30/36 | €726 | €754 | +€28 | +3.9% |
| Amounts receivable within one year | 40/41 | €331 | €721 | +€390 | +118% |
| Trade receivables | 40 | €211 | - | -€211 | |
| Other amounts receivable | 41 | €120 | €721 | +€601 | +501% |
| Cash at bank and in hand | 54/58 | €30,422 | €26,952 | -€3,469 | -11.4% |
| Deferred charges and accrued income | 490/1 | €2,633 | €2,757 | +€124 | +4.7% |
| Total equity and liabilities | 10/49 | €532,124 | €496,815 | -€35,309 | -6.6% |
| Equity | 10/15 | €74,853 | €113,292 | +€38,439 | +51.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,253 | €56,253 | = | 0.0% |
| Distributable reserves | 133 | €56,253 | €56,253 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €38,439 | +€38,439 | |
| Amounts payable | 17/49 | €457,270 | €383,522 | -€73,748 | -16.1% |
| Amounts payable after more than one year | 17 | €341,418 | €306,298 | -€35,119 | -10.3% |
| Financial debts | 170/4 | €341,418 | €306,298 | -€35,119 | -10.3% |
| Amounts payable within one year | 42/48 | €115,853 | €77,224 | -€38,629 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €45,590 | €35,125 | -€10,465 | -23.0% |
| Trade debts | 44 | €2,617 | €3,857 | +€1,240 | +47.4% |
| Suppliers | 440/4 | €2,617 | €3,857 | +€1,240 | +47.4% |
| Advances received on contracts in progress | 46 | €9,355 | €6,900 | -€2,455 | -26.2% |
| Taxes, remuneration and social security | 45 | €10,204 | €10,178 | -€26 | -0.3% |
| Taxes | 450/3 | €10,204 | €10,178 | -€26 | -0.3% |
| Other amounts payable | 47/48 | €48,087 | €21,164 | -€26,923 | -56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,489 | €46,557 | -€19,932 | -30.0% |
| Other operating charges | 640/8 | €5,704 | €5,750 | +€46 | +0.8% |
| Non-recurring operating charges | 66A | - | €2,098 | +€2,098 | |
| Gross operating margin | 9900 | €121,269 | €107,544 | -€13,725 | -11.3% |
| Operating profit (loss) | 9901 | €49,075 | €53,139 | +€4,063 | +8.3% |
| Financial income | 75/76B | €40 | €41 | +€0 | +0.9% |
| Recurring financial income | 75 | €40 | €41 | +€0 | +0.9% |
| Financial charges | 65/66B | €11,817 | €10,208 | -€1,609 | -13.6% |
| Recurring financial charges | 65 | €11,817 | €10,208 | -€1,609 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €37,299 | €42,972 | +€5,673 | +15.2% |
| Income taxes | 67/77 | €3,631 | €4,533 | +€902 | +24.8% |
| Profit (loss) for the period | 9904 | €33,668 | €38,439 | +€4,771 | +14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,668 | €38,439 | +€4,771 | +14.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.