PVC HOLDING: 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.
PVC HOLDING
Largest movements
- Receivables within one year +€2.7m
up €2.7m (+231%), from €1.2m to €3.9m
of which Other amounts receivable: +€2.7m
- Cash -€153,482
down €153,482 (-35.3%), from €434,524 to €281,042
mainly Contributions, distributions and other (-€3.2m) and Receivables within one year (-€2.7m)
- Other debts +€3.7m
up €3.7m (+2,258,478%), from €164 to €3.7m
- Profit (loss) carried forward -€1.1m
down €1.1m (-11.2%), from €9.8m to €8.7m
- Financial income +€830,533
up €830,533 (+75.3%), from €1.1m to €1.9m
- Taxes +€34,043
up €34,043 (+53.8%), from €63,274 to €97,316
- Gross operating margin +€25,079
up €25,079 (+9.4%), from €265,645 to €290,724
- Depreciation +€4,830
up €4,830 (+23.1%), from €20,903 to €25,733
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 | €10,076,242 | €12,753,261 | +€2.7m | +26.6% |
| Fixed assets | 21/28 | €8,453,055 | €8,537,018 | +€83,962 | +1.0% |
| Tangible fixed assets | 22/27 | €300,455 | €284,417 | -€16,038 | -5.3% |
| Furniture and vehicles | 24 | €95,455 | €73,204 | -€22,251 | -23.3% |
| Other tangible fixed assets | 26 | €205,000 | €211,213 | +€6,213 | +3.0% |
| Financial fixed assets | 28 | €8,152,600 | €8,252,600 | +€100,000 | +1.2% |
| Current assets | 29/58 | €1,623,186 | €4,216,243 | +€2.6m | +160% |
| Amounts receivable within one year | 40/41 | €1,188,663 | €3,935,201 | +€2.7m | +231% |
| Trade receivables | 40 | €609,680 | €663,680 | +€54,000 | +8.9% |
| Other amounts receivable | 41 | €578,983 | €3,271,521 | +€2.7m | +465% |
| Cash at bank and in hand | 54/58 | €434,524 | €281,042 | -€153,482 | -35.3% |
| Total equity and liabilities | 10/49 | €10,076,242 | €12,753,261 | +€2.7m | +26.6% |
| Equity | 10/15 | €9,943,986 | €8,842,419 | -€1.1m | -11.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,833,986 | €8,732,419 | -€1.1m | -11.2% |
| Amounts payable | 17/49 | €132,256 | €3,910,842 | +€3.8m | +2,857% |
| Amounts payable after more than one year | 17 | €21,151 | €7,959 | -€13,192 | -62.4% |
| Financial debts | 170/4 | €21,151 | €7,959 | -€13,192 | -62.4% |
| Amounts payable within one year | 42/48 | €111,105 | €3,901,884 | +€3.8m | +3,412% |
| Current portion of amounts payable after more than one year | 42 | €12,643 | €13,192 | +€549 | +4.3% |
| Financial debts | 43 | €20,803 | €22,315 | +€1,512 | +7.3% |
| Other loans | 439 | €20,803 | €22,315 | +€1,512 | +7.3% |
| Trade debts | 44 | €16,527 | €5,865 | -€10,663 | -64.5% |
| Suppliers | 440/4 | €16,527 | €5,865 | -€10,663 | -64.5% |
| Taxes, remuneration and social security | 45 | €60,968 | €157,349 | +€96,381 | +158% |
| Taxes | 450/3 | €60,968 | €157,349 | +€96,381 | +158% |
| Other amounts payable | 47/48 | €164 | €3,703,164 | +€3.7m | +2,258,478% |
| Accrued charges and deferred income | 492/3 | - | €998 | +€998 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,903 | €25,733 | +€4,830 | +23.1% |
| Other operating charges | 640/8 | €968 | €1,173 | +€206 | +21.3% |
| Gross operating margin | 9900 | €265,645 | €290,724 | +€25,079 | +9.4% |
| Operating profit (loss) | 9901 | €243,774 | €263,818 | +€20,044 | +8.2% |
| Financial income | 75/76B | €1,103,092 | €1,933,625 | +€830,533 | +75.3% |
| Recurring financial income | 75 | €1,103,092 | €1,933,625 | +€830,533 | +75.3% |
| Financial charges | 65/66B | €1,348 | €1,694 | +€346 | +25.7% |
| Recurring financial charges | 65 | €1,348 | -€758,460 | -€759,808 | |
| Non-recurring financial charges | 66B | - | €760,154 | +€760,154 | |
| Profit (loss) for the period before taxes | 9903 | €1,345,518 | €2,195,749 | +€850,231 | +63.2% |
| Income taxes | 67/77 | €63,274 | €97,316 | +€34,043 | +53.8% |
| Profit (loss) for the period | 9904 | €1,282,245 | €2,098,433 | +€816,188 | +63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,282,245 | €2,098,433 | +€816,188 | +63.7% |
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 25 October 2026 via checked.be.