PSL HOLDING & MANAGEMENT: 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.
PSL HOLDING & MANAGEMENT
Largest movements
- Cash -€38,572
down €38,572 (-97.1%), from €39,723 to €1,151
mainly Tax, wage and social debts (-€18,350) and Current portion of long-term debt (-€16,158)
- Financial fixed assets +€10,000
up €10,000 (+4.7%), from €212,500 to €222,500
- Receivables within one year +€8,971
up €8,971 (+49.4%), from €18,150 to €27,121
of which Other amounts receivable: +€8,043
- Tax, wage and social debts -€18,350
no longer reported in 2025 (was €18,350)
- Current portion of long-term debt -€16,158
no longer reported in 2025 (was €16,158)
- Reserves +€14,907
new in 2025: €14,907
- Gross operating margin -€132,359
down €132,359 (-79.0%), from €167,533 to €35,175
- Taxes -€34,441
down €34,441 (-83.2%), from €41,400 to €6,959
- Financial charges +€11,369
up €11,369 (+738%), from €1,540 to €12,909
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 | €270,373 | €250,772 | -€19,601 | -7.2% |
| Fixed assets | 21/28 | €212,500 | €222,500 | +€10,000 | +4.7% |
| Financial fixed assets | 28 | €212,500 | €222,500 | +€10,000 | +4.7% |
| Current assets | 29/58 | €57,873 | €28,272 | -€29,601 | -51.1% |
| Amounts receivable within one year | 40/41 | €18,150 | €27,121 | +€8,971 | +49.4% |
| Trade receivables | 40 | €18,150 | €19,079 | +€929 | +5.1% |
| Other amounts receivable | 41 | - | €8,043 | +€8,043 | |
| Cash at bank and in hand | 54/58 | €39,723 | €1,151 | -€38,572 | -97.1% |
| Total equity and liabilities | 10/49 | €270,373 | €250,772 | -€19,601 | -7.2% |
| Equity | 10/15 | €235,865 | €250,772 | +€14,907 | +6.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | - | €14,907 | +€14,907 | |
| Distributable reserves | 133 | - | €14,907 | +€14,907 | |
| Profit (loss) carried forward | 14 | €215,405 | €215,405 | = | 0.0% |
| Amounts payable | 17/49 | €34,508 | - | -€34,508 | |
| Amounts payable within one year | 42/48 | €34,508 | - | -€34,508 | |
| Current portion of amounts payable after more than one year | 42 | €16,158 | - | -€16,158 | |
| Taxes, remuneration and social security | 45 | €18,350 | - | -€18,350 | |
| Taxes | 450/3 | €18,350 | - | -€18,350 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €167,533 | €35,175 | -€132,359 | -79.0% |
| Operating profit (loss) | 9901 | €167,146 | €34,775 | -€132,371 | -79.2% |
| Financial charges | 65/66B | €1,540 | €12,909 | +€11,369 | +738% |
| Recurring financial charges | 65 | €1,540 | €12,909 | +€11,369 | +738% |
| Profit (loss) for the period before taxes | 9903 | €165,606 | €21,866 | -€143,740 | -86.8% |
| Income taxes | 67/77 | €41,400 | €6,959 | -€34,441 | -83.2% |
| Profit (loss) for the period | 9904 | €124,206 | €14,907 | -€109,299 | -88.0% |
| Profit (loss) for the period to be appropriated | 9905 | €124,206 | €14,907 | -€109,299 | -88.0% |
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 30 October 2026 via checked.be.