PVDK ADVISORY: 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.
PVDK ADVISORY
Largest movements
- Cash +€115,928
up €115,928 (+53.3%), from €217,658 to €333,586
mainly Net result for the year (+€127,648) and Depreciation (+€5,351)
- Tangible fixed assets -€3,761
down €3,761 (-13.2%), from €28,545 to €24,784
of which Furniture and vehicles: -€4,101
- Reserves +€127,000
up €127,000 (+77.0%), from €165,000 to €292,000
- Trade debts -€8,201
down €8,201 (-86.0%), from €9,536 to €1,335
- Tax, wage and social debts -€7,227
down €7,227 (-10.5%), from €68,762 to €61,535
of which Taxes: -€6,908
- Gross operating margin +€29,226
up €29,226 (+20.2%), from €144,630 to €173,856
- Taxes +€7,285
up €7,285 (+24.6%), from €29,646 to €36,931
- Depreciation +€3,827
up €3,827 (+251%), from €1,525 to €5,351
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 | €248,481 | €360,739 | +€112,258 | +45.2% |
| Fixed assets | 21/28 | €28,545 | €24,784 | -€3,761 | -13.2% |
| Tangible fixed assets | 22/27 | €28,545 | €24,784 | -€3,761 | -13.2% |
| Land and buildings | 22 | €9,439 | €8,482 | -€956 | -10.1% |
| Furniture and vehicles | 24 | €19,106 | €15,005 | -€4,101 | -21.5% |
| Other tangible fixed assets | 26 | - | €1,296 | +€1,296 | |
| Current assets | 29/58 | €219,936 | €335,955 | +€116,019 | +52.8% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €217,658 | €333,586 | +€115,928 | +53.3% |
| Deferred charges and accrued income | 490/1 | €2,278 | €2,370 | +€91 | +4.0% |
| Total equity and liabilities | 10/49 | €248,481 | €360,739 | +€112,258 | +45.2% |
| Equity | 10/15 | €168,121 | €295,769 | +€127,648 | +75.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €165,000 | €292,000 | +€127,000 | +77.0% |
| Distributable reserves | 133 | €165,000 | €292,000 | +€127,000 | +77.0% |
| Profit (loss) carried forward | 14 | €121 | €769 | +€648 | +534% |
| Amounts payable | 17/49 | €80,359 | €64,970 | -€15,390 | -19.2% |
| Amounts payable within one year | 42/48 | €79,192 | €62,870 | -€16,322 | -20.6% |
| Trade debts | 44 | €9,536 | €1,335 | -€8,201 | -86.0% |
| Suppliers | 440/4 | €9,536 | €1,335 | -€8,201 | -86.0% |
| Taxes, remuneration and social security | 45 | €68,762 | €61,535 | -€7,227 | -10.5% |
| Taxes | 450/3 | €68,443 | €61,535 | -€6,908 | -10.1% |
| Remuneration and social security | 454/9 | €319 | €0 | -€319 | -100% |
| Other amounts payable | 47/48 | €894 | €0 | -€894 | -100% |
| Accrued charges and deferred income | 492/3 | €1,168 | €2,100 | +€932 | +79.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,525 | €5,351 | +€3,827 | +251% |
| Other operating charges | 640/8 | €1,278 | €1,153 | -€126 | -9.8% |
| Gross operating margin | 9900 | €144,630 | €173,856 | +€29,226 | +20.2% |
| Operating profit (loss) | 9901 | €141,828 | €167,353 | +€25,525 | +18.0% |
| Financial charges | 65/66B | €2,776 | €2,773 | -€2 | -0.1% |
| Recurring financial charges | 65 | €2,776 | €2,773 | -€2 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €139,052 | €164,579 | +€25,527 | +18.4% |
| Income taxes | 67/77 | €29,646 | €36,931 | +€7,285 | +24.6% |
| Profit (loss) for the period | 9904 | €109,406 | €127,648 | +€18,243 | +16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €109,406 | €127,648 | +€18,243 | +16.7% |
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 13 October 2026 via checked.be.