PVDW ADVISORY SERVICES: 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.
PVDW ADVISORY SERVICES
Largest movements
- Cash +€83,890
up €83,890 (+124%), from €67,595 to €151,485
mainly Net result for the year (+€234,396) and Other debts (+€94,467)
- Receivables within one year +€4,111
up €4,111 (+17.4%), from €23,656 to €27,766
of which Trade receivables: +€2,241
- Other debts +€94,467
up €94,467 (+85.8%), from €110,090 to €204,557
- Tax, wage and social debts -€7,115
down €7,115 (-55.9%), from €12,718 to €5,603
- Gross operating margin +€160,017
up €160,017 (+104%), from €153,819 to €313,836
- Taxes +€39,001
up €39,001 (+115%), from €33,948 to €72,949
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 | €143,665 | €229,494 | +€85,828 | +59.7% |
| Fixed assets | 21/28 | €11,689 | €10,344 | -€1,345 | -11.5% |
| Tangible fixed assets | 22/27 | €11,689 | €10,344 | -€1,345 | -11.5% |
| Plant, machinery and equipment | 23 | €2,588 | €4,914 | +€2,325 | +89.8% |
| Furniture and vehicles | 24 | €4,794 | €3,191 | -€1,603 | -33.4% |
| Other tangible fixed assets | 26 | €4,306 | €2,239 | -€2,067 | -48.0% |
| Current assets | 29/58 | €131,976 | €219,150 | +€87,173 | +66.1% |
| Amounts receivable within one year | 40/41 | €23,656 | €27,766 | +€4,111 | +17.4% |
| Trade receivables | 40 | €23,656 | €25,896 | +€2,241 | +9.5% |
| Other amounts receivable | 41 | - | €1,870 | +€1,870 | |
| Current investments | 50/53 | €39,263 | €39,263 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €67,595 | €151,485 | +€83,890 | +124% |
| Deferred charges and accrued income | 490/1 | €1,463 | €636 | -€827 | -56.5% |
| Total equity and liabilities | 10/49 | €143,665 | €229,494 | +€85,828 | +59.7% |
| Equity | 10/15 | €19,189 | €18,600 | -€589 | -3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €589 | €0 | -€589 | -100% |
| Distributable reserves | 133 | €589 | €0 | -€589 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €124,476 | €210,894 | +€86,417 | +69.4% |
| Amounts payable within one year | 42/48 | €124,476 | €210,894 | +€86,417 | +69.4% |
| Trade debts | 44 | €1,669 | €734 | -€935 | -56.0% |
| Suppliers | 440/4 | €1,669 | €734 | -€935 | -56.0% |
| Taxes, remuneration and social security | 45 | €12,718 | €5,603 | -€7,115 | -55.9% |
| Taxes | 450/3 | €12,718 | €5,603 | -€7,115 | -55.9% |
| Other amounts payable | 47/48 | €110,090 | €204,557 | +€94,467 | +85.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,765 | €6,575 | -€1,190 | -15.3% |
| Other operating charges | 640/8 | €1,659 | €1,672 | +€13 | +0.8% |
| Gross operating margin | 9900 | €153,819 | €313,836 | +€160,017 | +104% |
| Operating profit (loss) | 9901 | €144,396 | €305,590 | +€161,194 | +112% |
| Financial income | 75/76B | €419 | €2,138 | +€1,720 | +411% |
| Recurring financial income | 75 | €419 | €2,138 | +€1,720 | +411% |
| Financial charges | 65/66B | €420 | €383 | -€37 | -8.8% |
| Recurring financial charges | 65 | €420 | €383 | -€37 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €144,395 | €307,345 | +€162,950 | +113% |
| Income taxes | 67/77 | €33,948 | €72,949 | +€39,001 | +115% |
| Profit (loss) for the period | 9904 | €110,447 | €234,396 | +€123,950 | +112% |
| Profit (loss) for the period to be appropriated | 9905 | €110,447 | €234,396 | +€123,950 | +112% |
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 21 October 2026 via checked.be.