PV 21: 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.
PV 21
Largest movements
- Cash +€72,462
up €72,462 (+71.6%), from €101,239 to €173,701
mainly Net result for the year (+€59,291) and Depreciation (+€38,533)
- Intangible fixed assets -€30,500
down €30,500 (-33.2%), from €91,834 to €61,334
- Receivables within one year -€8,242
down €8,242 (-51.4%), from €16,025 to €7,783
of which Trade receivables: -€8,808
- Tangible fixed assets -€7,572
down €7,572 (-35.4%), from €21,360 to €13,788
- Profit (loss) carried forward +€48,291
up €48,291, from -€48,179 to €112
- Debts after one year -€45,372
down €45,372 (-46.6%), from €97,370 to €51,999
- Other debts +€23,205
up €23,205 (+590.5%), from €3,930 to €27,135
- Advances received +€18,097
up €18,097 (+90.5%), from €19,998 to €38,094
- Reserves -€11,500
down €11,500 (-20.9%), from €55,000 to €43,500
- Gross operating margin +€122,928
up €122,928 (+186.0%), from €66,075 to €189,003
- Staff costs +€20,068
up €20,068 (+34.6%), from €58,047 to €78,115
- Taxes +€6,684
up €6,684 (+3257.9%), from €205 to €6,889
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 | €232,173 | €258,396 | +€26,223 | +11.3% |
| Fixed assets | 21/28 | €113,194 | €75,123 | -€38,072 | -33.6% |
| Intangible fixed assets | 21 | €91,834 | €61,334 | -€30,500 | -33.2% |
| Tangible fixed assets | 22/27 | €21,360 | €13,788 | -€7,572 | -35.4% |
| Furniture and vehicles | 24 | €21,360 | €13,788 | -€7,572 | -35.4% |
| Current assets | 29/58 | €118,979 | €183,274 | +€64,294 | +54.0% |
| Amounts receivable within one year | 40/41 | €16,025 | €7,783 | -€8,242 | -51.4% |
| Trade receivables | 40 | €14,743 | €5,936 | -€8,808 | -59.7% |
| Other amounts receivable | 41 | €1,282 | €1,848 | +€566 | +44.1% |
| Cash at bank and in hand | 54/58 | €101,239 | €173,701 | +€72,462 | +71.6% |
| Deferred charges and accrued income | 490/1 | €1,714 | €1,789 | +€75 | +4.4% |
| Total equity and liabilities | 10/49 | €232,173 | €258,396 | +€26,223 | +11.3% |
| Equity | 10/15 | €25,421 | €62,212 | +€36,791 | +144.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,000 | €43,500 | -€11,500 | -20.9% |
| Distributable reserves | 133 | €55,000 | €43,500 | -€11,500 | -20.9% |
| Profit (loss) carried forward | 14 | -€48,179 | €112 | +€48,291 | |
| Amounts payable | 17/49 | €206,753 | €196,185 | -€10,568 | -5.1% |
| Amounts payable after more than one year | 17 | €97,370 | €51,999 | -€45,372 | -46.6% |
| Financial debts | 170/4 | €97,370 | €51,999 | -€45,372 | -46.6% |
| Amounts payable within one year | 42/48 | €105,295 | €143,786 | +€38,491 | +36.6% |
| Current portion of amounts payable after more than one year | 42 | €44,089 | €45,372 | +€1,282 | +2.9% |
| Trade debts | 44 | €9,890 | €10,682 | +€793 | +8.0% |
| Suppliers | 440/4 | €9,890 | €10,682 | +€793 | +8.0% |
| Advances received on contracts in progress | 46 | €19,998 | €38,094 | +€18,097 | +90.5% |
| Taxes, remuneration and social security | 45 | €27,389 | €22,503 | -€4,886 | -17.8% |
| Taxes | 450/3 | €12,539 | €16,316 | +€3,777 | +30.1% |
| Remuneration and social security | 454/9 | €14,850 | €6,187 | -€8,663 | -58.3% |
| Other amounts payable | 47/48 | €3,930 | €27,135 | +€23,205 | +590.5% |
| Accrued charges and deferred income | 492/3 | €4,087 | €400 | -€3,688 | -90.2% |
| Remuneration, social security and pensions | 62 | €58,047 | €78,115 | +€20,068 | +34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,185 | €38,533 | -€652 | -1.7% |
| Other operating charges | 640/8 | €1,654 | €2,719 | +€1,065 | +64.4% |
| Gross operating margin | 9900 | €66,075 | €189,003 | +€122,928 | +186.0% |
| Operating profit (loss) | 9901 | -€32,810 | €69,637 | +€102,446 | |
| Financial income | 75/76B | €123 | €150 | +€27 | +21.8% |
| Recurring financial income | 75 | €123 | €150 | +€27 | +21.8% |
| Non-recurring financial income | 76B | €123 | €150 | +€27 | +21.8% |
| Financial charges | 65/66B | €4,936 | €3,607 | -€1,330 | -26.9% |
| Recurring financial charges | 65 | €4,936 | €3,607 | -€1,330 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | -€37,623 | €66,180 | +€103,803 | |
| Income taxes | 67/77 | €205 | €6,889 | +€6,684 | +3257.9% |
| Profit (loss) for the period | 9904 | -€37,828 | €59,291 | +€97,119 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,828 | €59,291 | +€97,119 |
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 9 October 2026 via checked.be.