PVCo: 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.
PVCo
Largest movements
- Cash -€9,608
down €9,608 (-63.5%), from €15,128 to €5,520
mainly Advances received (-€23,019) and Trade debts (-€17,004)
- Receivables within one year -€9,461
down €9,461 (-11.5%), from €82,261 to €72,800
of which Trade receivables: -€15,605
- Tangible fixed assets -€6,408
down €6,408 (-67.3%), from €9,520 to €3,112
- Advances received -€23,019
down €23,019 (-49.2%), from €46,769 to €23,750
- Trade debts -€17,004
down €17,004 (-73.4%), from €23,169 to €6,164
- Tax, wage and social debts +€14,135
up €14,135 (+266%), from €5,312 to €19,448
- Reserves +€8,508
up €8,508 (+37.5%), from €22,712 to €31,220
- Profit (loss) carried forward -€7,743
down €7,743 (-100%), from €7,743 to €0
- Gross operating margin -€35,781
down €35,781 (-78.9%), from €45,337 to €9,556
- Staff costs -€24,934
down €24,934 (-100%), from €24,934 to €0
- Taxes -€1,911
down €1,911 (-45.8%), from €4,168 to €2,257
- Depreciation +€548
up €548 (+8.5%), from €6,479 to €7,027
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 | €107,705 | €82,581 | -€25,124 | -23.3% |
| Fixed assets | 21/28 | €9,520 | €3,112 | -€6,408 | -67.3% |
| Tangible fixed assets | 22/27 | €9,520 | €3,112 | -€6,408 | -67.3% |
| Furniture and vehicles | 24 | €9,520 | €3,112 | -€6,408 | -67.3% |
| Current assets | 29/58 | €98,185 | €79,470 | -€18,715 | -19.1% |
| Amounts receivable within one year | 40/41 | €82,261 | €72,800 | -€9,461 | -11.5% |
| Trade receivables | 40 | €53,141 | €37,536 | -€15,605 | -29.4% |
| Other amounts receivable | 41 | €29,120 | €35,264 | +€6,145 | +21.1% |
| Cash at bank and in hand | 54/58 | €15,128 | €5,520 | -€9,608 | -63.5% |
| Deferred charges and accrued income | 490/1 | €797 | €1,150 | +€353 | +44.3% |
| Total equity and liabilities | 10/49 | €107,705 | €82,581 | -€25,124 | -23.3% |
| Equity | 10/15 | €32,455 | €33,220 | +€765 | +2.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €22,712 | €31,220 | +€8,508 | +37.5% |
| Distributable reserves | 133 | €22,712 | €31,220 | +€8,508 | +37.5% |
| Profit (loss) carried forward | 14 | €7,743 | €0 | -€7,743 | -100% |
| Amounts payable | 17/49 | €75,250 | €49,361 | -€25,888 | -34.4% |
| Amounts payable within one year | 42/48 | €75,250 | €49,361 | -€25,888 | -34.4% |
| Trade debts | 44 | €23,169 | €6,164 | -€17,004 | -73.4% |
| Suppliers | 440/4 | €23,169 | €6,164 | -€17,004 | -73.4% |
| Advances received on contracts in progress | 46 | €46,769 | €23,750 | -€23,019 | -49.2% |
| Taxes, remuneration and social security | 45 | €5,312 | €19,448 | +€14,135 | +266% |
| Taxes | 450/3 | €5,312 | €19,448 | +€14,135 | +266% |
| Remuneration, social security and pensions | 62 | €24,934 | €0 | -€24,934 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,479 | €7,027 | +€548 | +8.5% |
| Other operating charges | 640/8 | €285 | €339 | +€54 | +18.9% |
| Gross operating margin | 9900 | €45,337 | €9,556 | -€35,781 | -78.9% |
| Operating profit (loss) | 9901 | €13,639 | €2,190 | -€11,449 | -83.9% |
| Financial income | 75/76B | €1,331 | €1,690 | +€359 | +27.0% |
| Recurring financial income | 75 | €1,331 | €1,690 | +€359 | +27.0% |
| Financial charges | 65/66B | €720 | €858 | +€139 | +19.3% |
| Recurring financial charges | 65 | €720 | €858 | +€139 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €14,250 | €3,022 | -€11,229 | -78.8% |
| Income taxes | 67/77 | €4,168 | €2,257 | -€1,911 | -45.8% |
| Profit (loss) for the period | 9904 | €10,083 | €765 | -€9,318 | -92.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,083 | €765 | -€9,318 | -92.4% |
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 14 October 2026 via checked.be.