PST-IMMO: what changed
Two fiscal 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.
PST-IMMO
Largest movements
- Cash -€233,880
down €233,880 (-99.0%), from €236,320 to €2,440
mainly Short-term financial debts (-€438,757) and Tax, wage and social debts (-€135,344)
- Tangible fixed assets -€176,091
down €176,091 (-9.7%), from €1.8m to €1.6m
of which Assets under construction and advance payments: -€1.4m
- Short-term financial debts -€438,757
down €438,757 (-56.0%), from €783,757 to €345,000
- Tax, wage and social debts -€135,344
down €135,344 (-83.4%), from €162,338 to €26,993
- Other debts +€121,296
up €121,296 (+3.9%), from €3.1m to €3.2m
- Gross operating margin -€246,700
down €246,700 (-70.2%), from €351,535 to €104,835
- Financial charges -€121,473
down €121,473 (-83.8%), from €144,938 to €23,465
- Depreciation +€29,178
up €29,178 (+583.9%), from €4,997 to €34,175
- Taxes -€24,823
down €24,823 (-51.7%), from €48,033 to €23,211
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.
Cash bridge derived
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 | €6,247,094 | €5,858,986 | -€388,107 | -6.2% |
| Fixed assets | 21/28 | €5,957,997 | €5,781,906 | -€176,091 | -3.0% |
| Tangible fixed assets | 22/27 | €1,818,214 | €1,642,124 | -€176,091 | -9.7% |
| Land and buildings | 22 | €142,375 | €1,346,084 | +€1.2m | +845.4% |
| Assets under construction and advance payments | 27 | €1,675,839 | €296,039 | -€1.4m | -82.3% |
| Financial fixed assets | 28 | €4,139,783 | €4,139,783 | = | 0.0% |
| Current assets | 29/58 | €289,097 | €77,080 | -€212,017 | -73.3% |
| Amounts receivable within one year | 40/41 | €52,622 | €74,640 | +€22,018 | +41.8% |
| Trade receivables | 40 | €655 | €0 | -€655 | -100.0% |
| Other amounts receivable | 41 | €51,967 | €74,640 | +€22,673 | +43.6% |
| Cash at bank and in hand | 54/58 | €236,320 | €2,440 | -€233,880 | -99.0% |
| Deferred charges and accrued income | 490/1 | €155 | €0 | -€155 | -100.0% |
| Total equity and liabilities | 10/49 | €6,247,094 | €5,858,986 | -€388,107 | -6.2% |
| Equity | 10/15 | €1,639,117 | €1,663,974 | +€24,858 | +1.5% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Reserves | 13 | €1,499,117 | €1,523,974 | +€24,858 | +1.7% |
| Tax-exempt reserves | 132 | €848,733 | €823,853 | -€24,880 | -2.9% |
| Distributable reserves | 133 | €650,384 | €700,121 | +€49,737 | +7.6% |
| Provisions and deferred taxes | 16 | €282,911 | €274,618 | -€8,293 | -2.9% |
| Deferred taxes | 168 | €282,911 | €274,618 | -€8,293 | -2.9% |
| Amounts payable | 17/49 | €4,325,066 | €3,920,394 | -€404,672 | -9.4% |
| Amounts payable after more than one year | 17 | €185,885 | €227,741 | +€41,855 | +22.5% |
| Financial debts | 170/4 | €185,885 | €227,741 | +€41,855 | +22.5% |
| Amounts payable within one year | 42/48 | €4,060,868 | €3,615,176 | -€445,693 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €26,279 | €33,721 | +€7,441 | +28.3% |
| Financial debts | 43 | €783,757 | €345,000 | -€438,757 | -56.0% |
| Credit institutions | 430/8 | €783,757 | €345,000 | -€438,757 | -56.0% |
| Trade debts | 44 | €8,522 | €8,193 | -€329 | -3.9% |
| Suppliers | 440/4 | €8,522 | €8,193 | -€329 | -3.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €162,338 | €26,993 | -€135,344 | -83.4% |
| Taxes | 450/3 | €162,338 | €26,993 | -€135,344 | -83.4% |
| Other amounts payable | 47/48 | €3,079,973 | €3,201,269 | +€121,296 | +3.9% |
| Accrued charges and deferred income | 492/3 | €78,313 | €77,478 | -€835 | -1.1% |
| Non-recurring operating income | 76A | €5,266 | €0 | -€5,266 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,997 | €34,175 | +€29,178 | +583.9% |
| Other operating charges | 640/8 | €9,466 | €7,480 | -€1,986 | -21.0% |
| Gross operating margin | 9900 | €351,535 | €104,835 | -€246,700 | -70.2% |
| Operating profit (loss) | 9901 | €337,071 | €63,180 | -€273,891 | -81.3% |
| Financial income | 75/76B | €0 | €60 | +€60 | +299950.0% |
| Recurring financial income | 75 | €0 | €60 | +€60 | +299950.0% |
| Financial charges | 65/66B | €144,938 | €23,465 | -€121,473 | -83.8% |
| Recurring financial charges | 65 | €144,938 | €23,465 | -€121,473 | -83.8% |
| Profit (loss) for the period before taxes | 9903 | €192,133 | €39,775 | -€152,358 | -79.3% |
| Transfer from deferred taxes | 780 | - | €8,293 | +€8,293 | |
| Income taxes | 67/77 | €48,033 | €23,211 | -€24,823 | -51.7% |
| Profit (loss) for the period | 9904 | €144,100 | €24,858 | -€119,242 | -82.7% |
| Transfer from tax-exempt reserves | 789 | - | €24,880 | +€24,880 | |
| Profit (loss) for the period to be appropriated | 9905 | €144,100 | €49,737 | -€94,363 | -65.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.