PSM Lighting: 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.
PSM Lighting
Largest movements
- Receivables within one year -€262,038
no longer reported in 2025 (was €262,038)
of which Trade receivables: -€260,385
- Receivables after one year +€252,232
new in 2025: €252,232
of which Trade receivables: +€235,918
- Cash -€90,859
down €90,859 (-29.6%), from €307,286 to €216,427
mainly Receivables after one year (-€252,232) and Trade debts (-€107,544)
- Intangible fixed assets -€25,605
down €25,605 (-20.2%), from €126,667 to €101,061
- Deferred charges and accrued income -€24,635
down €24,635 (-36.6%), from €67,264 to €42,629
- Trade debts -€107,544
down €107,544 (-30.9%), from €347,800 to €240,256
- Reserves -€21,927
down €21,927 (-5.4%), from €407,258 to €385,331
- Tax, wage and social debts -€10,485
no longer reported in 2025 (was €10,485)
- Gross operating margin +€13,135
up €13,135 (+34.1%), from €38,569 to €51,704
- Write-downs -€3,456
no longer reported in 2025 (was €3,456)
- Financial income -€2,329
down €2,329 (-95.0%), from €2,451 to €122
- Financial charges +€2,182
up €2,182 (+13.5%), from €16,165 to €18,347
- Depreciation +€1,363
up €1,363 (+2.6%), from €53,355 to €54,717
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 | €790,543 | €650,587 | -€139,957 | -17.7% |
| Fixed assets | 21/28 | €153,955 | €139,300 | -€14,656 | -9.5% |
| Intangible fixed assets | 21 | €126,667 | €101,061 | -€25,605 | -20.2% |
| Tangible fixed assets | 22/27 | €27,289 | €38,238 | +€10,950 | +40.1% |
| Land and buildings | 22 | - | €16,736 | +€16,736 | |
| Plant, machinery and equipment | 23 | €1,871 | €1,247 | -€624 | -33.4% |
| Furniture and vehicles | 24 | €2,926 | €1,706 | -€1,220 | -41.7% |
| Other tangible fixed assets | 26 | €22,491 | €18,549 | -€3,942 | -17.5% |
| Current assets | 29/58 | €636,588 | €511,287 | -€125,301 | -19.7% |
| Amounts receivable after more than one year | 29 | - | €252,232 | +€252,232 | |
| Trade receivables | 290 | - | €235,918 | +€235,918 | |
| Other amounts receivable | 291 | - | €16,313 | +€16,313 | |
| Amounts receivable within one year | 40/41 | €262,038 | - | -€262,038 | |
| Trade receivables | 40 | €260,385 | - | -€260,385 | |
| Other amounts receivable | 41 | €1,653 | - | -€1,653 | |
| Cash at bank and in hand | 54/58 | €307,286 | €216,427 | -€90,859 | -29.6% |
| Deferred charges and accrued income | 490/1 | €67,264 | €42,629 | -€24,635 | -36.6% |
| Total equity and liabilities | 10/49 | €790,543 | €650,587 | -€139,957 | -17.7% |
| Equity | 10/15 | €432,258 | €410,331 | -€21,927 | -5.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €407,258 | €385,331 | -€21,927 | -5.4% |
| Distributable reserves | 133 | €407,258 | €385,331 | -€21,927 | -5.4% |
| Amounts payable | 17/49 | €358,285 | €240,256 | -€118,029 | -32.9% |
| Amounts payable within one year | 42/48 | €358,285 | €240,256 | -€118,029 | -32.9% |
| Trade debts | 44 | €347,800 | €240,256 | -€107,544 | -30.9% |
| Suppliers | 440/4 | €347,800 | €240,256 | -€107,544 | -30.9% |
| Taxes, remuneration and social security | 45 | €10,485 | - | -€10,485 | |
| Taxes | 450/3 | €10,485 | - | -€10,485 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,355 | €54,717 | +€1,363 | +2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,456 | - | -€3,456 | |
| Other operating charges | 640/8 | €1,249 | €688 | -€561 | -44.9% |
| Gross operating margin | 9900 | €38,569 | €51,704 | +€13,135 | +34.1% |
| Operating profit (loss) | 9901 | -€19,491 | -€3,702 | +€15,789 | +81.0% |
| Financial income | 75/76B | €2,451 | €122 | -€2,329 | -95.0% |
| Recurring financial income | 75 | €2,451 | €122 | -€2,329 | -95.0% |
| Financial charges | 65/66B | €16,165 | €18,347 | +€2,182 | +13.5% |
| Recurring financial charges | 65 | €16,165 | €18,347 | +€2,182 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | -€33,206 | -€21,927 | +€11,278 | +34.0% |
| Profit (loss) for the period | 9904 | -€33,206 | -€21,927 | +€11,278 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,206 | -€21,927 | +€11,278 | +34.0% |
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 15 October 2026 via checked.be.