PVA: 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.
PVA
Largest movements
- Receivables within one year +€65,639
up €65,639 (+322%), from €20,387 to €86,026
of which Other amounts receivable: +€65,615
- Cash -€5,526
down €5,526 (-5.4%), from €102,640 to €97,115
mainly Contributions, distributions and other (-€119,862) and Receivables within one year (-€65,639)
- Other debts +€119,003
up €119,003 (+13,854%), from €859 to €119,862
- Reserves -€62,756
down €62,756 (-49.2%), from €127,464 to €64,708
- Gross operating margin -€8,194
down €8,194 (-13.8%), from €59,376 to €51,182
- Financial income +€1,018
up €1,018 (+4.5%), from €22,814 to €23,832
- Taxes -€1,013
down €1,013 (-6.6%), from €15,261 to €14,247
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 | €361,070 | €420,714 | +€59,644 | +16.5% |
| Fixed assets | 21/28 | €227,903 | €230,435 | +€2,532 | +1.1% |
| Tangible fixed assets | 22/27 | €2,474 | €5,006 | +€2,532 | +102% |
| Furniture and vehicles | 24 | €2,474 | €5,006 | +€2,532 | +102% |
| Financial fixed assets | 28 | €225,429 | €225,429 | = | 0.0% |
| Current assets | 29/58 | €133,166 | €190,279 | +€57,112 | +42.9% |
| Amounts receivable within one year | 40/41 | €20,387 | €86,026 | +€65,639 | +322% |
| Trade receivables | 40 | €274 | €298 | +€24 | +8.7% |
| Other amounts receivable | 41 | €20,113 | €85,728 | +€65,615 | +326% |
| Cash at bank and in hand | 54/58 | €102,640 | €97,115 | -€5,526 | -5.4% |
| Deferred charges and accrued income | 490/1 | €10,140 | €7,139 | -€3,001 | -29.6% |
| Total equity and liabilities | 10/49 | €361,070 | €420,714 | +€59,644 | +16.5% |
| Equity | 10/15 | €128,464 | €65,708 | -€62,756 | -48.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €127,464 | €64,708 | -€62,756 | -49.2% |
| Distributable reserves | 133 | €127,464 | €64,708 | -€62,756 | -49.2% |
| Amounts payable | 17/49 | €232,606 | €355,006 | +€122,400 | +52.6% |
| Amounts payable after more than one year | 17 | €225,429 | €225,429 | = | 0.0% |
| Other amounts payable | 178/9 | €225,429 | €225,429 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,177 | €129,577 | +€122,400 | +1,706% |
| Trade debts | 44 | €1,322 | €1,299 | -€23 | -1.8% |
| Suppliers | 440/4 | €1,322 | €1,299 | -€23 | -1.8% |
| Taxes, remuneration and social security | 45 | €4,996 | €8,416 | +€3,420 | +68.5% |
| Taxes | 450/3 | €4,996 | €8,416 | +€3,420 | +68.5% |
| Other amounts payable | 47/48 | €859 | €119,862 | +€119,003 | +13,854% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €923 | €1,351 | +€428 | +46.4% |
| Other operating charges | 640/8 | €874 | €291 | -€583 | -66.7% |
| Gross operating margin | 9900 | €59,376 | €51,182 | -€8,194 | -13.8% |
| Operating profit (loss) | 9901 | €57,579 | €49,540 | -€8,038 | -14.0% |
| Financial income | 75/76B | €22,814 | €23,832 | +€1,018 | +4.5% |
| Recurring financial income | 75 | €22,814 | €23,832 | +€1,018 | +4.5% |
| Financial charges | 65/66B | €1,517 | €2,020 | +€503 | +33.2% |
| Recurring financial charges | 65 | €1,517 | €2,020 | +€503 | +33.2% |
| Profit (loss) for the period before taxes | 9903 | €78,876 | €71,353 | -€7,523 | -9.5% |
| Income taxes | 67/77 | €15,261 | €14,247 | -€1,013 | -6.6% |
| Profit (loss) for the period | 9904 | €63,615 | €57,106 | -€6,510 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €63,615 | €57,106 | -€6,510 | -10.2% |
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 26 October 2026 via checked.be.