PV PROJECTS: 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 PROJECTS
Largest movements
- Receivables within one year -€25,793
down €25,793 (-68.3%), from €37,758 to €11,964
of which Trade receivables: -€26,058
- Tangible fixed assets -€16,220
down €16,220 (-19.6%), from €82,755 to €66,535
of which Furniture and vehicles: -€14,518
- Cash +€4,384
up €4,384 (+2840.0%), from €154 to €4,538
mainly Receivables within one year (+€25,793) and Depreciation (+€17,723)
- Other debts -€17,578
down €17,578 (-33.9%), from €51,838 to €34,260
- Debts after one year -€16,653
down €16,653 (-48.8%), from €34,158 to €17,506
- Tax, wage and social debts -€13,923
down €13,923 (-94.9%), from €14,673 to €750
- Profit (loss) carried forward +€10,872
up €10,872 (+2606.5%), from €417 to €11,289
- Gross operating margin -€38,173
down €38,173 (-51.4%), from €74,246 to €36,073
- Depreciation +€15,751
up €15,751 (+798.7%), from €1,972 to €17,723
- Taxes -€14,472
down €14,472 (-76.8%), from €18,856 to €4,384
- Financial charges +€1,933
up €1,933 (+347.5%), from €556 to €2,489
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 | €121,402 | €83,771 | -€37,631 | -31.0% |
| Fixed assets | 21/28 | €82,755 | €66,535 | -€16,220 | -19.6% |
| Tangible fixed assets | 22/27 | €82,755 | €66,535 | -€16,220 | -19.6% |
| Plant, machinery and equipment | 23 | €3,547 | €1,845 | -€1,702 | -48.0% |
| Furniture and vehicles | 24 | €79,208 | €64,690 | -€14,518 | -18.3% |
| Current assets | 29/58 | €38,647 | €17,236 | -€21,411 | -55.4% |
| Amounts receivable within one year | 40/41 | €37,758 | €11,964 | -€25,793 | -68.3% |
| Trade receivables | 40 | €37,758 | €11,700 | -€26,058 | -69.0% |
| Other amounts receivable | 41 | - | €264 | +€264 | |
| Cash at bank and in hand | 54/58 | €154 | €4,538 | +€4,384 | +2840.0% |
| Deferred charges and accrued income | 490/1 | €735 | €733 | -€2 | -0.2% |
| Total equity and liabilities | 10/49 | €121,402 | €83,771 | -€37,631 | -31.0% |
| Equity | 10/15 | €2,917 | €13,789 | +€10,872 | +372.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €417 | €11,289 | +€10,872 | +2606.5% |
| Amounts payable | 17/49 | €118,485 | €69,982 | -€48,503 | -40.9% |
| Amounts payable after more than one year | 17 | €34,158 | €17,506 | -€16,653 | -48.8% |
| Financial debts | 170/4 | €34,158 | €17,506 | -€16,653 | -48.8% |
| Amounts payable within one year | 42/48 | €84,327 | €52,477 | -€31,850 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €15,842 | €16,653 | +€811 | +5.1% |
| Trade debts | 44 | €1,973 | €814 | -€1,160 | -58.8% |
| Suppliers | 440/4 | €1,973 | €814 | -€1,160 | -58.8% |
| Taxes, remuneration and social security | 45 | €14,673 | €750 | -€13,923 | -94.9% |
| Taxes | 450/3 | €14,673 | €750 | -€13,923 | -94.9% |
| Other amounts payable | 47/48 | €51,838 | €34,260 | -€17,578 | -33.9% |
| Non-recurring operating income | 76A | €21,167 | - | -€21,167 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,972 | €17,723 | +€15,751 | +798.7% |
| Other operating charges | 640/8 | €750 | €605 | -€145 | -19.3% |
| Gross operating margin | 9900 | €74,246 | €36,073 | -€38,173 | -51.4% |
| Operating profit (loss) | 9901 | €71,524 | €17,745 | -€53,779 | -75.2% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €556 | €2,489 | +€1,933 | +347.5% |
| Recurring financial charges | 65 | €556 | €2,489 | +€1,933 | +347.5% |
| Profit (loss) for the period before taxes | 9903 | €70,974 | €15,256 | -€55,718 | -78.5% |
| Income taxes | 67/77 | €18,856 | €4,384 | -€14,472 | -76.8% |
| Profit (loss) for the period | 9904 | €52,118 | €10,872 | -€41,246 | -79.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,118 | €10,872 | -€41,246 | -79.1% |
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 5 October 2026 via checked.be.