PV Asset Development: 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.
PV Asset Development
Largest movements
- Financial fixed assets +€256,500
new in 2025: €256,500
- Receivables within one year +€136,930
up €136,930 (+463.8%), from €29,526 to €166,456
of which Other amounts receivable: +€147,327
- Other debts +€302,454
up €302,454 (+57.4%), from €526,605 to €829,059
- Reserves +€75,499
up €75,499 (+30.8%), from €245,408 to €320,907
- Tax, wage and social debts +€30,931
up €30,931 (+195.8%), from €15,796 to €46,728
- Gross operating margin +€97,816
up €97,816 (+105.3%), from €92,859 to €190,676
- Taxes +€30,701
up €30,701 (+430.1%), from €7,138 to €37,839
- Financial charges +€4,544
up €4,544 (+12.5%), from €36,469 to €41,013
- Other operating charges -€2,253
down €2,253 (-48.2%), from €4,670 to €2,417
- Depreciation +€1,949
up €1,949 (+6.3%), from €30,944 to €32,894
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 | €846,190 | €1,249,867 | +€403,677 | +47.7% |
| Fixed assets | 21/28 | €804,053 | €1,061,488 | +€257,435 | +32.0% |
| Tangible fixed assets | 22/27 | €804,053 | €804,988 | +€935 | +0.1% |
| Land and buildings | 22 | €802,887 | €803,395 | +€508 | +0.1% |
| Furniture and vehicles | 24 | €1,167 | €1,593 | +€426 | +36.6% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | - | €256,500 | +€256,500 | |
| Current assets | 29/58 | €42,137 | €188,379 | +€146,242 | +347.1% |
| Amounts receivable within one year | 40/41 | €29,526 | €166,456 | +€136,930 | +463.8% |
| Trade receivables | 40 | €29,526 | €19,129 | -€10,397 | -35.2% |
| Other amounts receivable | 41 | - | €147,327 | +€147,327 | |
| Cash at bank and in hand | 54/58 | €11,256 | €20,172 | +€8,916 | +79.2% |
| Deferred charges and accrued income | 490/1 | €1,355 | €1,751 | +€396 | +29.2% |
| Total equity and liabilities | 10/49 | €846,190 | €1,249,867 | +€403,677 | +47.7% |
| Equity | 10/15 | €257,808 | €333,307 | +€75,499 | +29.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €245,408 | €320,907 | +€75,499 | +30.8% |
| Distributable reserves | 133 | €245,408 | €320,907 | +€75,499 | +30.8% |
| Amounts payable | 17/49 | €588,383 | €916,560 | +€328,178 | +55.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €552,713 | €876,040 | +€323,327 | +58.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €10,311 | €253 | -€10,058 | -97.5% |
| Suppliers | 440/4 | €10,311 | €253 | -€10,058 | -97.5% |
| Taxes, remuneration and social security | 45 | €15,796 | €46,728 | +€30,931 | +195.8% |
| Taxes | 450/3 | €15,796 | €46,728 | +€30,931 | +195.8% |
| Other amounts payable | 47/48 | €526,605 | €829,059 | +€302,454 | +57.4% |
| Accrued charges and deferred income | 492/3 | €35,670 | €40,520 | +€4,851 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,944 | €32,894 | +€1,949 | +6.3% |
| Other operating charges | 640/8 | €4,670 | €2,417 | -€2,253 | -48.2% |
| Non-recurring operating charges | 66A | - | €1,015 | +€1,015 | |
| Gross operating margin | 9900 | €92,859 | €190,676 | +€97,816 | +105.3% |
| Operating profit (loss) | 9901 | €57,245 | €154,351 | +€97,106 | +169.6% |
| Financial income | 75/76B | €1 | €1 | +€1 | +126.0% |
| Recurring financial income | 75 | €1 | €1 | +€1 | +126.0% |
| Financial charges | 65/66B | €36,469 | €41,013 | +€4,544 | +12.5% |
| Recurring financial charges | 65 | €36,469 | €41,013 | +€4,544 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €20,776 | €113,339 | +€92,562 | +445.5% |
| Income taxes | 67/77 | €7,138 | €37,839 | +€30,701 | +430.1% |
| Profit (loss) for the period | 9904 | €13,638 | €75,499 | +€61,862 | +453.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,638 | €75,499 | +€61,862 | +453.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.