PVDM Engineering: 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.
PVDM Engineering
Largest movements
- Tangible fixed assets -€234,316
no longer reported in 2025 (was €234,316)
- Cash +€93,568
up €93,568 (+540.8%), from €17,302 to €110,870
mainly Investment in fixed assets (net) (+€234,316) and Accrued charges and deferred income (+€1,822)
- Debts after one year -€123,041
no longer reported in 2025 (was €123,041)
- Current portion of long-term debt -€8,759
no longer reported in 2025 (was €8,759)
- Tax, wage and social debts -€7,860
down €7,860 (-40.8%), from €19,266 to €11,406
of which Remuneration and social security: -€8,836
- Other debts -€3,898
down €3,898 (-9.3%), from €41,906 to €38,007
- Depreciation -€5,752
down €5,752 (-83.0%), from €6,927 to €1,175
- Staff costs -€5,238
down €5,238 (-18.3%), from €28,659 to €23,421
- Financial charges +€2,065
up €2,065 (+54.6%), from €3,780 to €5,846
- Gross operating margin +€2,063
up €2,063 (+4.1%), from €50,400 to €52,463
- Taxes -€1,560
down €1,560 (-71.8%), from €2,172 to €613
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 | €267,089 | €126,580 | -€140,509 | -52.6% |
| Fixed assets | 21/28 | €238,950 | €3,459 | -€235,491 | -98.6% |
| Intangible fixed assets | 21 | €4,634 | €3,459 | -€1,175 | -25.4% |
| Tangible fixed assets | 22/27 | €234,316 | - | -€234,316 | |
| Land and buildings | 22 | €234,316 | - | -€234,316 | |
| Current assets | 29/58 | €28,139 | €123,121 | +€94,982 | +337.5% |
| Amounts receivable within one year | 40/41 | €10,837 | €11,158 | +€321 | +3.0% |
| Trade receivables | 40 | €10,370 | €10,370 | = | 0.0% |
| Other amounts receivable | 41 | €468 | €789 | +€321 | +68.6% |
| Cash at bank and in hand | 54/58 | €17,302 | €110,870 | +€93,568 | +540.8% |
| Deferred charges and accrued income | 490/1 | - | €1,093 | +€1,093 | |
| Total equity and liabilities | 10/49 | €267,089 | €126,580 | -€140,509 | -52.6% |
| Equity | 10/15 | €71,360 | €73,068 | +€1,708 | +2.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,360 | €68,068 | +€1,708 | +2.6% |
| Amounts payable | 17/49 | €195,729 | €53,512 | -€142,217 | -72.7% |
| Amounts payable after more than one year | 17 | €123,041 | - | -€123,041 | |
| Financial debts | 170/4 | €123,041 | - | -€123,041 | |
| Amounts payable within one year | 42/48 | €71,917 | €50,919 | -€20,997 | -29.2% |
| Current portion of amounts payable after more than one year | 42 | €8,759 | - | -€8,759 | |
| Trade debts | 44 | €1,986 | €1,506 | -€480 | -24.2% |
| Suppliers | 440/4 | €1,986 | €1,506 | -€480 | -24.2% |
| Taxes, remuneration and social security | 45 | €19,266 | €11,406 | -€7,860 | -40.8% |
| Taxes | 450/3 | €9,969 | €10,945 | +€976 | +9.8% |
| Remuneration and social security | 454/9 | €9,297 | €461 | -€8,836 | -95.0% |
| Other amounts payable | 47/48 | €41,906 | €38,007 | -€3,898 | -9.3% |
| Accrued charges and deferred income | 492/3 | €771 | €2,593 | +€1,822 | +236.2% |
| Remuneration, social security and pensions | 62 | €28,659 | €23,421 | -€5,238 | -18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,927 | €1,175 | -€5,752 | -83.0% |
| Other operating charges | 640/8 | €1,189 | €940 | -€249 | -21.0% |
| Non-recurring operating charges | 66A | - | €18,760 | +€18,760 | |
| Gross operating margin | 9900 | €50,400 | €52,463 | +€2,063 | +4.1% |
| Operating profit (loss) | 9901 | €13,625 | €8,166 | -€5,459 | -40.1% |
| Financial charges | 65/66B | €3,780 | €5,846 | +€2,065 | +54.6% |
| Recurring financial charges | 65 | €3,780 | €5,846 | +€2,065 | +54.6% |
| Profit (loss) for the period before taxes | 9903 | €9,845 | €2,321 | -€7,524 | -76.4% |
| Income taxes | 67/77 | €2,172 | €613 | -€1,560 | -71.8% |
| Profit (loss) for the period | 9904 | €7,672 | €1,708 | -€5,964 | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,672 | €1,708 | -€5,964 | -77.7% |
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 4 October 2026 via checked.be.