PVDB CONSULTING: 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.
PVDB CONSULTING
Largest movements
- Current investments +€87,356
up €87,356 (+291%), from €30,000 to €117,356
- Cash -€24,883
down €24,883 (-36.9%), from €67,502 to €42,619
mainly Current investments (-€87,356) and Receivables within one year (-€18,160)
- Receivables within one year +€18,160
up €18,160 (+847%), from €2,144 to €20,304
of which Trade receivables: +€18,507
- Tangible fixed assets -€5,978
down €5,978 (-23.7%), from €25,179 to €19,201
of which Other tangible fixed assets: -€5,474
- Reserves +€83,624
up €83,624 (+56.4%), from €148,304 to €231,928
- Tax, wage and social debts -€9,320
down €9,320 (-45.4%), from €20,530 to €11,210
- Gross operating margin +€35,613
up €35,613 (+37.9%), from €94,077 to €129,691
- Taxes +€9,485
up €9,485 (+32.8%), from €28,898 to €38,384
- Depreciation +€2,514
up €2,514 (+72.6%), from €3,464 to €5,978
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 | €263,530 | €337,846 | +€74,316 | +28.2% |
| Fixed assets | 21/28 | €163,545 | €157,567 | -€5,978 | -3.7% |
| Tangible fixed assets | 22/27 | €25,179 | €19,201 | -€5,978 | -23.7% |
| Plant, machinery and equipment | 23 | €1,591 | €1,087 | -€504 | -31.7% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €23,588 | €18,114 | -€5,474 | -23.2% |
| Financial fixed assets | 28 | €138,366 | €138,366 | = | 0.0% |
| Current assets | 29/58 | €99,984 | €180,278 | +€80,294 | +80.3% |
| Amounts receivable within one year | 40/41 | €2,144 | €20,304 | +€18,160 | +847% |
| Trade receivables | 40 | €0 | €18,507 | +€18,507 | |
| Other amounts receivable | 41 | €2,144 | €1,797 | -€347 | -16.2% |
| Current investments | 50/53 | €30,000 | €117,356 | +€87,356 | +291% |
| Cash at bank and in hand | 54/58 | €67,502 | €42,619 | -€24,883 | -36.9% |
| Deferred charges and accrued income | 490/1 | €338 | €0 | -€338 | -100% |
| Total equity and liabilities | 10/49 | €263,530 | €337,846 | +€74,316 | +28.2% |
| Equity | 10/15 | €166,904 | €250,528 | +€83,624 | +50.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €148,304 | €231,928 | +€83,624 | +56.4% |
| Distributable reserves | 133 | €148,304 | €231,928 | +€83,624 | +56.4% |
| Amounts payable | 17/49 | €96,626 | €87,318 | -€9,307 | -9.6% |
| Amounts payable after more than one year | 17 | €75,000 | €75,000 | = | 0.0% |
| Financial debts | 170/4 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €21,626 | €12,318 | -€9,307 | -43.0% |
| Trade debts | 44 | €177 | €189 | +€12 | +6.8% |
| Suppliers | 440/4 | €177 | €189 | +€12 | +6.8% |
| Taxes, remuneration and social security | 45 | €20,530 | €11,210 | -€9,320 | -45.4% |
| Taxes | 450/3 | €20,530 | €11,210 | -€9,320 | -45.4% |
| Other amounts payable | 47/48 | €919 | €919 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,464 | €5,978 | +€2,514 | +72.6% |
| Other operating charges | 640/8 | €611 | €709 | +€97 | +15.9% |
| Gross operating margin | 9900 | €94,077 | €129,691 | +€35,613 | +37.9% |
| Operating profit (loss) | 9901 | €90,003 | €123,004 | +€33,001 | +36.7% |
| Financial income | 75/76B | €14 | €555 | +€541 | +3,846% |
| Recurring financial income | 75 | €14 | €555 | +€541 | +3,846% |
| Financial charges | 65/66B | €1,511 | €1,552 | +€41 | +2.7% |
| Recurring financial charges | 65 | €1,511 | €1,552 | +€41 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €88,506 | €122,007 | +€33,501 | +37.9% |
| Income taxes | 67/77 | €28,898 | €38,384 | +€9,485 | +32.8% |
| Profit (loss) for the period | 9904 | €59,607 | €83,624 | +€24,016 | +40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,607 | €83,624 | +€24,016 | +40.3% |
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 31 October 2026 via checked.be.