PSRL 13: 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.
PSRL 13
Largest movements
- Tangible fixed assets +€852,007
up €852,007 (+167%), from €511,033 to €1.4m
of which Land and buildings: +€723,470
- Intangible fixed assets -€44,900
down €44,900 (-31.1%), from €144,500 to €99,600
- Debts after one year +€703,734
up €703,734 (+130%), from €542,869 to €1.2m
- Other debts +€162,862
up €162,862 (+136%), from €119,848 to €282,710
- Trade debts -€65,442
down €65,442 (-79.2%), from €82,629 to €17,187
of which Suppliers: -€60,442
- Current portion of long-term debt +€43,806
up €43,806 (+75.5%), from €58,052 to €101,858
- Profit (loss) carried forward -€33,266
down €33,266 (-25.3%), from -€131,235 to -€164,502
- Gross operating margin +€110,161
up €110,161 (+50.9%), from €216,387 to €326,548
- Staff costs +€56,023
up €56,023 (+36.7%), from €152,457 to €208,480
- Depreciation +€37,249
up €37,249 (+51.5%), from €72,391 to €109,641
- Financial charges +€17,284
up €17,284 (+82.0%), from €21,074 to €38,358
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 | €736,469 | €1,559,066 | +€822,596 | +112% |
| Fixed assets | 21/28 | €655,533 | €1,462,640 | +€807,107 | +123% |
| Intangible fixed assets | 21 | €144,500 | €99,600 | -€44,900 | -31.1% |
| Tangible fixed assets | 22/27 | €511,033 | €1,363,040 | +€852,007 | +167% |
| Land and buildings | 22 | €362,671 | €1,086,141 | +€723,470 | +199% |
| Furniture and vehicles | 24 | €22,355 | €71,715 | +€49,360 | +221% |
| Other tangible fixed assets | 26 | €126,007 | €205,184 | +€79,177 | +62.8% |
| Current assets | 29/58 | €80,937 | €96,426 | +€15,490 | +19.1% |
| Stocks and contracts in progress | 3 | €33,733 | €42,137 | +€8,404 | +24.9% |
| Stocks | 30/36 | €33,733 | €42,137 | +€8,404 | +24.9% |
| Amounts receivable within one year | 40/41 | €26,441 | €17,856 | -€8,584 | -32.5% |
| Trade receivables | 40 | €26,441 | €13,995 | -€12,446 | -47.1% |
| Other amounts receivable | 41 | - | €3,861 | +€3,861 | |
| Cash at bank and in hand | 54/58 | €20,763 | €35,253 | +€14,491 | +69.8% |
| Deferred charges and accrued income | 490/1 | - | €1,179 | +€1,179 | |
| Total equity and liabilities | 10/49 | €736,469 | €1,559,066 | +€822,596 | +112% |
| Equity | 10/15 | -€101,235 | -€134,502 | -€33,266 | -32.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€131,235 | -€164,502 | -€33,266 | -25.3% |
| Amounts payable | 17/49 | €837,705 | €1,693,567 | +€855,863 | +102% |
| Amounts payable after more than one year | 17 | €542,869 | €1,246,603 | +€703,734 | +130% |
| Financial debts | 170/4 | €542,869 | €1,246,603 | +€703,734 | +130% |
| Amounts payable within one year | 42/48 | €293,421 | €446,225 | +€152,804 | +52.1% |
| Current portion of amounts payable after more than one year | 42 | €58,052 | €101,858 | +€43,806 | +75.5% |
| Trade debts | 44 | €82,629 | €17,187 | -€65,442 | -79.2% |
| Suppliers | 440/4 | €77,629 | €17,187 | -€60,442 | -77.9% |
| Bills of exchange payable | 441 | €5,000 | - | -€5,000 | |
| Taxes, remuneration and social security | 45 | €32,891 | €44,470 | +€11,578 | +35.2% |
| Taxes | 450/3 | €17,670 | €19,684 | +€2,013 | +11.4% |
| Remuneration and social security | 454/9 | €15,221 | €24,786 | +€9,565 | +62.8% |
| Other amounts payable | 47/48 | €119,848 | €282,710 | +€162,862 | +136% |
| Accrued charges and deferred income | 492/3 | €1,415 | €740 | -€675 | -47.7% |
| Remuneration, social security and pensions | 62 | €152,457 | €208,480 | +€56,023 | +36.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,391 | €109,641 | +€37,249 | +51.5% |
| Other operating charges | 640/8 | €3,572 | €3,238 | -€334 | -9.4% |
| Gross operating margin | 9900 | €216,387 | €326,548 | +€110,161 | +50.9% |
| Operating profit (loss) | 9901 | -€12,034 | €5,190 | +€17,223 | |
| Financial income | 75/76B | €3 | €14 | +€11 | +401% |
| Recurring financial income | 75 | €3 | €14 | +€11 | +401% |
| Financial charges | 65/66B | €21,074 | €38,358 | +€17,284 | +82.0% |
| Recurring financial charges | 65 | €21,074 | €38,358 | +€17,284 | +82.0% |
| Profit (loss) for the period before taxes | 9903 | -€33,105 | -€33,154 | -€49 | -0.1% |
| Income taxes | 67/77 | - | €112 | +€112 | |
| Profit (loss) for the period | 9904 | -€33,105 | -€33,266 | -€161 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,105 | -€33,266 | -€161 | -0.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.