PTF: 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.
PTF
Largest movements
- Deferred charges and accrued income -€33,734
down €33,734 (-96.3%), from €35,043 to €1,308
- Cash +€15,820
up €15,820 (+156.5%), from €10,108 to €25,928
mainly Deferred charges and accrued income (+€33,734) and Depreciation (+€5,690)
- Receivables within one year +€11,591
up €11,591 (+106.3%), from €10,904 to €22,496
of which Trade receivables: +€16,390
- Tangible fixed assets -€5,690
down €5,690 (-61.1%), from €9,307 to €3,617
- Stocks and contracts -€3,797
down €3,797 (-100.0%), from €3,797 to €0
- Debts after one year -€12,493
down €12,493 (-40.1%), from €31,156 to €18,664
- Other debts -€7,836
down €7,836 (-38.9%), from €20,139 to €12,303
- Profit (loss) carried forward +€5,263
up €5,263 (+80.0%), from -€6,579 to -€1,316
- Current portion of long-term debt -€5,210
down €5,210 (-29.4%), from €17,702 to €12,493
- Trade debts +€4,478
up €4,478 (+131.6%), from €3,403 to €7,882
- Gross operating margin -€6,270
down €6,270 (-31.2%), from €20,123 to €13,854
- Financial charges -€1,098
down €1,098 (-36.4%), from €3,015 to €1,917
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 | €69,159 | €53,349 | -€15,811 | -22.9% |
| Fixed assets | 21/28 | €9,307 | €3,617 | -€5,690 | -61.1% |
| Tangible fixed assets | 22/27 | €9,307 | €3,617 | -€5,690 | -61.1% |
| Furniture and vehicles | 24 | €9,307 | €3,617 | -€5,690 | -61.1% |
| Current assets | 29/58 | €59,852 | €49,732 | -€10,120 | -16.9% |
| Stocks and contracts in progress | 3 | €3,797 | €0 | -€3,797 | -100.0% |
| Contracts in progress | 37 | €3,797 | €0 | -€3,797 | -100.0% |
| Amounts receivable within one year | 40/41 | €10,904 | €22,496 | +€11,591 | +106.3% |
| Trade receivables | 40 | €5,480 | €21,870 | +€16,390 | +299.1% |
| Other amounts receivable | 41 | €5,424 | €625 | -€4,799 | -88.5% |
| Cash at bank and in hand | 54/58 | €10,108 | €25,928 | +€15,820 | +156.5% |
| Deferred charges and accrued income | 490/1 | €35,043 | €1,308 | -€33,734 | -96.3% |
| Total equity and liabilities | 10/49 | €69,159 | €53,349 | -€15,811 | -22.9% |
| Equity | 10/15 | -€3,579 | €1,684 | +€5,263 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,579 | -€1,316 | +€5,263 | +80.0% |
| Amounts payable | 17/49 | €72,738 | €51,665 | -€21,074 | -29.0% |
| Amounts payable after more than one year | 17 | €31,156 | €18,664 | -€12,493 | -40.1% |
| Financial debts | 170/4 | €31,156 | €18,664 | -€12,493 | -40.1% |
| Amounts payable within one year | 42/48 | €41,582 | €33,001 | -€8,581 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €17,702 | €12,493 | -€5,210 | -29.4% |
| Trade debts | 44 | €3,403 | €7,882 | +€4,478 | +131.6% |
| Suppliers | 440/4 | €3,403 | €7,882 | +€4,478 | +131.6% |
| Taxes, remuneration and social security | 45 | €337 | €323 | -€14 | -4.2% |
| Taxes | 450/3 | €337 | €323 | -€14 | -4.2% |
| Other amounts payable | 47/48 | €20,139 | €12,303 | -€7,836 | -38.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,690 | €5,690 | = | 0.0% |
| Other operating charges | 640/8 | €1,062 | €983 | -€79 | -7.4% |
| Non-recurring operating charges | 66A | €34,723 | €0 | -€34,723 | -100.0% |
| Gross operating margin | 9900 | €20,123 | €13,854 | -€6,270 | -31.2% |
| Operating profit (loss) | 9901 | -€21,352 | €7,180 | +€28,532 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €3,015 | €1,917 | -€1,098 | -36.4% |
| Recurring financial charges | 65 | €3,015 | €1,917 | -€1,098 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | -€24,366 | €5,263 | +€29,629 | |
| Profit (loss) for the period | 9904 | -€24,366 | €5,263 | +€29,629 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,366 | €5,263 | +€29,629 |
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 7 October 2026 via checked.be.