PSLAB: 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.
PSLAB
Largest movements
- Receivables within one year -€284,725
down €284,725 (-72.1%), from €394,937 to €110,212
of which Trade receivables: -€262,147
- Cash -€73,598
down €73,598 (-58.2%), from €126,420 to €52,822
mainly Trade debts (-€194,232) and Debts after one year (-€159,036)
- Tangible fixed assets -€41,757
down €41,757 (-2.1%), from €2.0m to €1.9m
of which Land and buildings: -€30,198
- Trade debts -€194,232
down €194,232 (-65.1%), from €298,566 to €104,334
- Debts after one year -€159,036
down €159,036 (-12.2%), from €1.3m to €1.1m
of which Financial debts: -€165,314
- Advances received -€87,365
down €87,365 (-23.7%), from €368,875 to €281,510
- Current portion of long-term debt +€84,112
up €84,112 (+104%), from €81,202 to €165,314
- Tax, wage and social debts -€64,273
down €64,273 (-64.4%), from €99,873 to €35,600
of which Taxes: -€45,757
- Staff costs -€251,174
down €251,174 (-62.5%), from €401,640 to €150,466
- Gross operating margin -€111,491
down €111,491 (-29.5%), from €377,674 to €266,183
- Depreciation -€72,444
down €72,444 (-49.4%), from €146,686 to €74,242
- Financial charges -€19,847
down €19,847 (-53.5%), from €37,105 to €17,258
- Taxes +€16,308
up €16,308 (+696%), from €2,343 to €18,651
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 | €2,684,301 | €2,256,037 | -€428,264 | -16.0% |
| Fixed assets | 21/28 | €2,086,017 | €2,044,260 | -€41,757 | -2.0% |
| Tangible fixed assets | 22/27 | €1,986,017 | €1,944,260 | -€41,757 | -2.1% |
| Land and buildings | 22 | €1,909,122 | €1,878,924 | -€30,198 | -1.6% |
| Plant, machinery and equipment | 23 | €46,737 | €40,409 | -€6,328 | -13.5% |
| Furniture and vehicles | 24 | €30,158 | €24,927 | -€5,231 | -17.3% |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €598,284 | €211,777 | -€386,507 | -64.6% |
| Stocks and contracts in progress | 3 | €64,247 | €45,129 | -€19,118 | -29.8% |
| Stocks | 30/36 | €64,247 | €45,129 | -€19,118 | -29.8% |
| Amounts receivable within one year | 40/41 | €394,937 | €110,212 | -€284,725 | -72.1% |
| Trade receivables | 40 | €366,476 | €104,329 | -€262,147 | -71.5% |
| Other amounts receivable | 41 | €28,460 | €5,883 | -€22,577 | -79.3% |
| Cash at bank and in hand | 54/58 | €126,420 | €52,822 | -€73,598 | -58.2% |
| Deferred charges and accrued income | 490/1 | €12,680 | €3,614 | -€9,066 | -71.5% |
| Total equity and liabilities | 10/49 | €2,684,301 | €2,256,037 | -€428,264 | -16.0% |
| Equity | 10/15 | €436,138 | €440,741 | +€4,603 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €417,538 | €422,141 | +€4,603 | +1.1% |
| Distributable reserves | 133 | €417,538 | €422,141 | +€4,603 | +1.1% |
| Amounts payable | 17/49 | €2,248,163 | €1,815,296 | -€432,867 | -19.3% |
| Amounts payable after more than one year | 17 | €1,300,958 | €1,141,922 | -€159,036 | -12.2% |
| Financial debts | 170/4 | €876,484 | €711,170 | -€165,314 | -18.9% |
| Other amounts payable | 178/9 | €424,474 | €430,752 | +€6,278 | +1.5% |
| Amounts payable within one year | 42/48 | €848,516 | €586,758 | -€261,758 | -30.8% |
| Current portion of amounts payable after more than one year | 42 | €81,202 | €165,314 | +€84,112 | +104% |
| Trade debts | 44 | €298,566 | €104,334 | -€194,232 | -65.1% |
| Suppliers | 440/4 | €298,566 | €104,334 | -€194,232 | -65.1% |
| Advances received on contracts in progress | 46 | €368,875 | €281,510 | -€87,365 | -23.7% |
| Taxes, remuneration and social security | 45 | €99,873 | €35,600 | -€64,273 | -64.4% |
| Taxes | 450/3 | €61,039 | €15,282 | -€45,757 | -75.0% |
| Remuneration and social security | 454/9 | €38,834 | €20,318 | -€18,516 | -47.7% |
| Accrued charges and deferred income | 492/3 | €98,689 | €86,616 | -€12,073 | -12.2% |
| Remuneration, social security and pensions | 62 | €401,640 | €150,466 | -€251,174 | -62.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,686 | €74,242 | -€72,444 | -49.4% |
| Other operating charges | 640/8 | €2,972 | €1,020 | -€1,952 | -65.7% |
| Gross operating margin | 9900 | €377,674 | €266,183 | -€111,491 | -29.5% |
| Operating profit (loss) | 9901 | -€173,625 | €40,455 | +€214,080 | |
| Financial income | 75/76B | €1,776 | €56 | -€1,720 | -96.8% |
| Recurring financial income | 75 | €1,776 | €56 | -€1,720 | -96.8% |
| Financial charges | 65/66B | €37,105 | €17,258 | -€19,847 | -53.5% |
| Recurring financial charges | 65 | €37,105 | €17,258 | -€19,847 | -53.5% |
| Profit (loss) for the period before taxes | 9903 | -€208,953 | €23,253 | +€232,206 | |
| Income taxes | 67/77 | €2,343 | €18,651 | +€16,308 | +696% |
| Profit (loss) for the period | 9904 | -€211,296 | €4,602 | +€215,898 | |
| Profit (loss) for the period to be appropriated | 9905 | -€211,296 | €4,602 | +€215,898 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.