PVG BELGIUM: 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.
What changed
PVG BELGIUM
NACE 46.494, Wholesale of non-electrical household articles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€48,775
2024 · -€54,952+€6,178
Equity
€1.7m
2024 · €1.8m-€48,775
Cash
€3,084
2024 · €3,839-€755
Balance sheet total
€3.9m
2024 · €5.1m-€1.2m
Largest movements
Assets
- Receivables within one year -€971,381
down €971,381 (-26.7%), from €3.6m to €2.7m
of which Other amounts receivable: -€1.6m
- Stocks and contracts -€243,067
down €243,067 (-18.1%), from €1.3m to €1.1m
Equity and liabilities
- Short-term financial debts -€1.1m
down €1.1m (-76.8%), from €1.4m to €325,605
- Other debts +€264,710
up €264,710 (+1,177%), from €22,498 to €287,208
- Trade debts -€234,394
down €234,394 (-38.1%), from €615,141 to €380,748
- Accrued charges and deferred income -€123,060
down €123,060 (-10.5%), from €1.2m to €1.1m
Income statement
- Turnover -€940,800
down €940,800 (-11.9%), from €7.9m to €7.0m
- Goods and materials -€667,668
down €667,668 (-10.3%), from €6.5m to €5.8m
of which Purchases: -€1.2m
- Services and other goods -€219,134
down €219,134 (-28.2%), from €775,898 to €556,764
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.
Result 2024
-€54,952
Turnover
-€940,800
Other operating income
-€98
Goods and materials
+€667,668
Services and other goods
+€219,134
Staff costs
+€55,744
Depreciation
+€513
Write-downs
-€885
Other operating charges
+€2,294
Financial charges
+€2,750
Taxes
-€142
Result 2025
-€48,775
raises the resultlowers the result
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.
From operations
+€1.1m
Investment
-€121
Financing
-€1.1m
Cash 2024
€3,839
From operations (derived)
+€1.1m
Net result for the year
-€48,775
Depreciation
+€2,800
Stocks and contracts
+€243,067
Receivables within one year
+€971,381
Deferred charges and accrued income
-€29,000
Trade debts
-€234,394
Tax, wage and social debts
+€32,118
Other debts
+€264,710
Accrued charges and deferred income
-€123,060
Investment (derived)
-€121
Investment in fixed assets (net)
-€121
Financing
-€1.1m
Short-term financial debts
-€1.1m
Contributions, distributions and other
-€0
Cash 2025
€3,084
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,095,966 | €3,907,084 | -€1.2m | -23.3% |
| Fixed assets | 21/28 | €12,736 | €10,057 | -€2,679 | -21.0% |
| Tangible fixed assets | 22/27 | €7,666 | €4,987 | -€2,679 | -34.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €7,666 | €4,987 | -€2,679 | -34.9% |
| Financial fixed assets | 28 | €5,070 | €5,070 | = | 0.0% |
| Other financial fixed assets | 284/8 | €5,070 | €5,070 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €5,070 | €5,070 | = | 0.0% |
| Current assets | 29/58 | €5,083,231 | €3,897,028 | -€1.2m | -23.3% |
| Stocks and contracts in progress | 3 | €1,344,601 | €1,101,534 | -€243,067 | -18.1% |
| Stocks | 30/36 | €1,344,601 | €1,101,534 | -€243,067 | -18.1% |
| Goods purchased for resale | 34 | €1,344,601 | €1,101,534 | -€243,067 | -18.1% |
| Amounts receivable within one year | 40/41 | €3,635,790 | €2,664,409 | -€971,381 | -26.7% |
| Trade receivables | 40 | €2,055,920 | €2,657,639 | +€601,719 | +29.3% |
| Other amounts receivable | 41 | €1,579,870 | €6,770 | -€1.6m | -99.6% |
| Cash at bank and in hand | 54/58 | €3,839 | €3,084 | -€755 | -19.7% |
| Deferred charges and accrued income | 490/1 | €99,000 | €128,000 | +€29,000 | +29.3% |
| Total equity and liabilities | 10/49 | €5,095,966 | €3,907,084 | -€1.2m | -23.3% |
| Equity | 10/15 | €1,788,351 | €1,739,576 | -€48,775 | -2.7% |
| Contributions | 10/11 | €213,930 | €213,930 | = | 0.0% |
| Capital | 10 | €203,000 | €203,000 | = | 0.0% |
| Issued capital | 100 | €203,000 | €203,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,930 | €10,930 | = | 0.0% |
| Share premium | 1100/10 | €10,930 | €10,930 | = | 0.0% |
| Reserves | 13 | €1,574,300 | €1,525,300 | -€49,000 | -3.1% |
| Non-distributable reserves | 130/1 | €20,300 | €20,300 | = | 0.0% |
| Legal reserve | 130 | €20,300 | €20,300 | = | 0.0% |
| Distributable reserves | 133 | €1,554,000 | €1,505,000 | -€49,000 | -3.2% |
| Profit (loss) carried forward | 14 | €120 | €346 | +€225 | +187% |
| Amounts payable | 17/49 | €3,307,616 | €2,167,508 | -€1.1m | -34.5% |
| Amounts payable within one year | 42/48 | €2,130,901 | €1,113,854 | -€1.0m | -47.7% |
| Financial debts | 43 | €1,405,086 | €325,605 | -€1.1m | -76.8% |
| Credit institutions | 430/8 | €1,405,086 | €325,605 | -€1.1m | -76.8% |
| Trade debts | 44 | €615,141 | €380,748 | -€234,394 | -38.1% |
| Suppliers | 440/4 | €615,141 | €380,748 | -€234,394 | -38.1% |
| Taxes, remuneration and social security | 45 | €88,176 | €120,294 | +€32,118 | +36.4% |
| Taxes | 450/3 | €13,741 | €62,049 | +€48,308 | +352% |
| Remuneration and social security | 454/9 | €74,435 | €58,246 | -€16,189 | -21.7% |
| Other amounts payable | 47/48 | €22,498 | €287,208 | +€264,710 | +1,177% |
| Accrued charges and deferred income | 492/3 | €1,176,715 | €1,053,654 | -€123,060 | -10.5% |
| Operating income | 70/76A | €7,919,763 | €6,978,864 | -€940,899 | -11.9% |
| Turnover | 70 | €7,919,317 | €6,978,516 | -€940,800 | -11.9% |
| Other operating income | 74 | €446 | €348 | -€98 | -22.0% |
| Operating charges | 60/66A | €7,843,391 | €6,898,923 | -€944,468 | -12.0% |
| Goods for resale, raw materials and consumables | 60 | €6,505,791 | €5,838,124 | -€667,668 | -10.3% |
| Purchases | 600/8 | €6,823,688 | €5,595,057 | -€1.2m | -18.0% |
| Change in stocks: decrease (increase) | 609 | -€317,897 | €243,067 | +€560,964 | |
| Services and other goods | 61 | €775,898 | €556,764 | -€219,134 | -28.2% |
| Remuneration, social security and pensions | 62 | €554,669 | €498,925 | -€55,744 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,314 | €2,800 | -€513 | -15.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €885 | +€885 | |
| Other operating charges | 640/8 | €3,719 | €1,425 | -€2,294 | -61.7% |
| Operating profit (loss) | 9901 | €76,371 | €79,941 | +€3,569 | +4.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Income from current assets | 751 | €0 | - | = | |
| Financial charges | 65/66B | €130,676 | €127,926 | -€2,750 | -2.1% |
| Recurring financial charges | 65 | €130,676 | €127,926 | -€2,750 | -2.1% |
| Debt charges | 650 | €117,128 | €104,821 | -€12,307 | -10.5% |
| Other financial charges | 652/9 | €13,548 | €23,104 | +€9,557 | +70.5% |
| Profit (loss) for the period before taxes | 9903 | -€54,305 | -€47,985 | +€6,320 | +11.6% |
| Income taxes | 67/77 | €648 | €790 | +€142 | +21.9% |
| Taxes | 670/3 | €648 | €790 | +€142 | +21.9% |
| Profit (loss) for the period | 9904 | -€54,952 | -€48,775 | +€6,178 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,952 | -€48,775 | +€6,178 | +11.2% |
Source: filed annual accounts (NBB), financial years ended 29 February 2024 and 28 February 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.