PV Werk: 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 Werk
Largest movements
- Tangible fixed assets +€63,610
up €63,610 (+1,396%), from €4,556 to €68,166
of which Furniture and vehicles: +€63,769
- Cash -€35,393
down €35,393 (-42.6%), from €83,041 to €47,647
mainly Investment in fixed assets (net) (-€72,775) and Receivables within one year (-€11,633)
- Receivables within one year +€11,633
up €11,633 (+181%), from €6,436 to €18,069
of which Other amounts receivable: +€11,776
- Reserves +€39,040
up €39,040 (+47.6%), from €81,958 to €120,998
- Trade debts +€4,522
new in 2025: €4,522
- Tax, wage and social debts -€3,145
down €3,145 (-48.3%), from €6,507 to €3,362
- Gross operating margin -€52,274
down €52,274 (-47.3%), from €110,559 to €58,285
- Taxes -€17,537
down €17,537 (-63.9%), from €27,458 to €9,921
- Depreciation +€8,153
up €8,153 (+806%), from €1,012 to €9,165
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 | €94,033 | €133,882 | +€39,850 | +42.4% |
| Fixed assets | 21/28 | €4,556 | €68,166 | +€63,610 | +1,396% |
| Tangible fixed assets | 22/27 | €4,556 | €68,166 | +€63,610 | +1,396% |
| Plant, machinery and equipment | 23 | €4,556 | €4,398 | -€158 | -3.5% |
| Furniture and vehicles | 24 | - | €63,769 | +€63,769 | |
| Current assets | 29/58 | €89,477 | €65,716 | -€23,761 | -26.6% |
| Amounts receivable within one year | 40/41 | €6,436 | €18,069 | +€11,633 | +181% |
| Trade receivables | 40 | €6,436 | €6,293 | -€143 | -2.2% |
| Other amounts receivable | 41 | - | €11,776 | +€11,776 | |
| Cash at bank and in hand | 54/58 | €83,041 | €47,647 | -€35,393 | -42.6% |
| Total equity and liabilities | 10/49 | €94,033 | €133,882 | +€39,850 | +42.4% |
| Equity | 10/15 | €86,958 | €125,998 | +€39,040 | +44.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €81,958 | €120,998 | +€39,040 | +47.6% |
| Distributable reserves | 133 | €81,958 | €120,998 | +€39,040 | +47.6% |
| Amounts payable | 17/49 | €7,075 | €7,884 | +€809 | +11.4% |
| Amounts payable within one year | 42/48 | €7,075 | €7,884 | +€809 | +11.4% |
| Trade debts | 44 | - | €4,522 | +€4,522 | |
| Suppliers | 440/4 | - | €4,522 | +€4,522 | |
| Taxes, remuneration and social security | 45 | €6,507 | €3,362 | -€3,145 | -48.3% |
| Taxes | 450/3 | €6,507 | €3,362 | -€3,145 | -48.3% |
| Other amounts payable | 47/48 | €568 | - | -€568 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,012 | €9,165 | +€8,153 | +806% |
| Gross operating margin | 9900 | €110,559 | €58,285 | -€52,274 | -47.3% |
| Operating profit (loss) | 9901 | €109,547 | €49,120 | -€60,427 | -55.2% |
| Financial income | 75/76B | €0 | €10 | +€10 | +101,900% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +101,900% |
| Financial charges | 65/66B | €131 | €169 | +€38 | +29.1% |
| Recurring financial charges | 65 | €131 | €169 | +€38 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €109,416 | €48,962 | -€60,455 | -55.3% |
| Income taxes | 67/77 | €27,458 | €9,921 | -€17,537 | -63.9% |
| Profit (loss) for the period | 9904 | €81,958 | €39,040 | -€42,918 | -52.4% |
| Profit (loss) for the period to be appropriated | 9905 | €81,958 | €39,040 | -€42,918 | -52.4% |
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 24 October 2026 via checked.be.