PVB: 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.
PVB
Largest movements
- Cash -€38,189
down €38,189 (-48.9%), from €78,076 to €39,887
mainly Contributions, distributions and other (-€46,000) and Receivables within one year (-€25,812)
- Receivables within one year +€25,812
up €25,812 (+1097.2%), from €2,353 to €28,165
of which Trade receivables: +€22,964
- Tangible fixed assets -€6,210
down €6,210 (-24.4%), from €25,470 to €19,260
- Reserves -€17,180
down €17,180 (-37.3%), from €46,064 to €28,885
- Trade debts -€16,367
down €16,367 (-94.2%), from €17,369 to €1,001
- Other debts +€15,077
up €15,077 (+41.5%), from €36,310 to €51,387
- Gross operating margin +€33,895
up €33,895 (+277.0%), from €12,238 to €46,133
- Taxes +€6,583
up €6,583 (+733.6%), from €897 to €7,480
- Financial charges +€2,256
up €2,256 (+2685.4%), from €84 to €2,340
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 | €106,492 | €88,250 | -€18,242 | -17.1% |
| Fixed assets | 21/28 | €25,470 | €19,260 | -€6,210 | -24.4% |
| Tangible fixed assets | 22/27 | €25,470 | €19,260 | -€6,210 | -24.4% |
| Furniture and vehicles | 24 | €25,470 | €19,260 | -€6,210 | -24.4% |
| Current assets | 29/58 | €81,022 | €68,990 | -€12,032 | -14.9% |
| Amounts receivable within one year | 40/41 | €2,353 | €28,165 | +€25,812 | +1097.2% |
| Trade receivables | 40 | €0 | €22,964 | +€22,964 | |
| Other amounts receivable | 41 | €2,353 | €5,201 | +€2,848 | +121.1% |
| Cash at bank and in hand | 54/58 | €78,076 | €39,887 | -€38,189 | -48.9% |
| Deferred charges and accrued income | 490/1 | €593 | €938 | +€345 | +58.2% |
| Total equity and liabilities | 10/49 | €106,492 | €88,250 | -€18,242 | -17.1% |
| Equity | 10/15 | €49,564 | €32,385 | -€17,180 | -34.7% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €46,064 | €28,885 | -€17,180 | -37.3% |
| Distributable reserves | 133 | €46,064 | €28,885 | -€17,180 | -37.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €56,927 | €55,865 | -€1,062 | -1.9% |
| Amounts payable within one year | 42/48 | €56,927 | €55,865 | -€1,062 | -1.9% |
| Trade debts | 44 | €17,369 | €1,001 | -€16,367 | -94.2% |
| Suppliers | 440/4 | €17,369 | €1,001 | -€16,367 | -94.2% |
| Taxes, remuneration and social security | 45 | €3,248 | €3,477 | +€228 | +7.0% |
| Taxes | 450/3 | €3,248 | €3,477 | +€228 | +7.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €36,310 | €51,387 | +€15,077 | +41.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,640 | €6,788 | +€147 | +2.2% |
| Other operating charges | 640/8 | €1,027 | €705 | -€322 | -31.3% |
| Gross operating margin | 9900 | €12,238 | €46,133 | +€33,895 | +277.0% |
| Operating profit (loss) | 9901 | €4,571 | €38,640 | +€34,069 | +745.4% |
| Financial charges | 65/66B | €84 | €2,340 | +€2,256 | +2685.4% |
| Recurring financial charges | 65 | €84 | €2,340 | +€2,256 | +2685.4% |
| Profit (loss) for the period before taxes | 9903 | €4,487 | €36,300 | +€31,813 | +709.0% |
| Income taxes | 67/77 | €897 | €7,480 | +€6,583 | +733.6% |
| Profit (loss) for the period | 9904 | €3,590 | €28,820 | +€25,231 | +702.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,590 | €28,820 | +€25,231 | +702.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.