PV ELEKTRO: 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 ELEKTRO
Largest movements
- Receivables within one year +€62,011
up €62,011 (+117%), from €52,882 to €114,892
of which Trade receivables: +€49,913
- Cash +€45,399
up €45,399 (+198%), from €22,939 to €68,337
mainly Net result for the year (+€66,181) and Trade debts (+€31,654)
- Stocks and contracts -€26,880
down €26,880 (-37.9%), from €70,900 to €44,020
of which Contracts in progress: -€24,500
- Tangible fixed assets -€11,060
down €11,060 (-11.9%), from €93,265 to €82,205
of which Furniture and vehicles: -€7,579
- Deferred charges and accrued income -€9,525
down €9,525 (-21.9%), from €43,550 to €34,025
- Reserves +€40,685
up €40,685 (+19.1%), from €213,063 to €253,748
- Trade debts +€31,654
up €31,654 (+305%), from €10,392 to €42,046
- Tax, wage and social debts +€11,689
up €11,689 (+283%), from €4,132 to €15,820
of which Taxes: +€6,618
- Debts after one year -€10,310
down €10,310 (-45.6%), from €22,611 to €12,301
- Current portion of long-term debt -€5,655
down €5,655 (-35.4%), from €15,965 to €10,310
- Gross operating margin +€61,498
up €61,498 (+46.0%), from €133,687 to €195,185
- Taxes +€18,022
up €18,022 (+176%), from €10,227 to €28,250
- Staff costs +€12,847
up €12,847 (+18.1%), from €70,944 to €83,792
- Write-downs -€9,000
down €9,000, from €4,500 to -€4,500
- Financial charges -€6,227
down €6,227 (-55.2%), from €11,285 to €5,059
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 | €283,536 | €343,480 | +€59,944 | +21.1% |
| Fixed assets | 21/28 | €93,265 | €82,205 | -€11,060 | -11.9% |
| Tangible fixed assets | 22/27 | €93,265 | €82,205 | -€11,060 | -11.9% |
| Land and buildings | 22 | €48,248 | €45,943 | -€2,305 | -4.8% |
| Plant, machinery and equipment | 23 | €14,726 | €13,550 | -€1,176 | -8.0% |
| Furniture and vehicles | 24 | €30,292 | €22,712 | -€7,579 | -25.0% |
| Current assets | 29/58 | €190,270 | €261,274 | +€71,004 | +37.3% |
| Stocks and contracts in progress | 3 | €70,900 | €44,020 | -€26,880 | -37.9% |
| Stocks | 30/36 | €18,900 | €16,520 | -€2,380 | -12.6% |
| Contracts in progress | 37 | €52,000 | €27,500 | -€24,500 | -47.1% |
| Amounts receivable within one year | 40/41 | €52,882 | €114,892 | +€62,011 | +117% |
| Trade receivables | 40 | €20,276 | €70,189 | +€49,913 | +246% |
| Other amounts receivable | 41 | €32,606 | €44,703 | +€12,098 | +37.1% |
| Cash at bank and in hand | 54/58 | €22,939 | €68,337 | +€45,399 | +198% |
| Deferred charges and accrued income | 490/1 | €43,550 | €34,025 | -€9,525 | -21.9% |
| Total equity and liabilities | 10/49 | €283,536 | €343,480 | +€59,944 | +21.1% |
| Equity | 10/15 | €219,263 | €259,948 | +€40,685 | +18.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €213,063 | €253,748 | +€40,685 | +19.1% |
| Distributable reserves | 133 | €213,063 | €253,748 | +€40,685 | +19.1% |
| Amounts payable | 17/49 | €64,273 | €83,532 | +€19,259 | +30.0% |
| Amounts payable after more than one year | 17 | €22,611 | €12,301 | -€10,310 | -45.6% |
| Financial debts | 170/4 | €22,611 | €12,301 | -€10,310 | -45.6% |
| Amounts payable within one year | 42/48 | €36,106 | €69,767 | +€33,661 | +93.2% |
| Current portion of amounts payable after more than one year | 42 | €15,965 | €10,310 | -€5,655 | -35.4% |
| Trade debts | 44 | €10,392 | €42,046 | +€31,654 | +305% |
| Suppliers | 440/4 | €10,392 | €42,046 | +€31,654 | +305% |
| Taxes, remuneration and social security | 45 | €4,132 | €15,820 | +€11,689 | +283% |
| Taxes | 450/3 | €2,075 | €8,693 | +€6,618 | +319% |
| Remuneration and social security | 454/9 | €2,057 | €7,127 | +€5,070 | +247% |
| Other amounts payable | 47/48 | €5,618 | €1,592 | -€4,026 | -71.7% |
| Accrued charges and deferred income | 492/3 | €5,557 | €1,464 | -€4,092 | -73.7% |
| Remuneration, social security and pensions | 62 | €70,944 | €83,792 | +€12,847 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,900 | €14,464 | +€563 | +4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,500 | -€4,500 | -€9,000 | |
| Other operating charges | 640/8 | €2,325 | €2,716 | +€391 | +16.8% |
| Gross operating margin | 9900 | €133,687 | €195,185 | +€61,498 | +46.0% |
| Operating profit (loss) | 9901 | €42,018 | €98,714 | +€56,696 | +135% |
| Financial income | 75/76B | €244 | €775 | +€531 | +217% |
| Recurring financial income | 75 | €244 | €775 | +€531 | +217% |
| Financial charges | 65/66B | €11,285 | €5,059 | -€6,227 | -55.2% |
| Recurring financial charges | 65 | €11,285 | €5,059 | -€6,227 | -55.2% |
| Profit (loss) for the period before taxes | 9903 | €30,977 | €94,431 | +€63,454 | +205% |
| Income taxes | 67/77 | €10,227 | €28,250 | +€18,022 | +176% |
| Profit (loss) for the period | 9904 | €20,750 | €66,181 | +€45,432 | +219% |
| Profit (loss) for the period to be appropriated | 9905 | €20,750 | €66,181 | +€45,432 | +219% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.