PvG Finance: what changed
What changed
PvG Finance
NACE 66.290, Activities auxiliary to financial services and insurance activities
filed annual accounts (NBB)
Net result for the year
€16,657
2025 · €13,058+€3,600
Equity
€159,895
2025 · €143,238+€16,657
Cash
€1,529
2025 · €2,166-€637
Balance sheet total
€426,397
2025 · €434,721-€8,324
Largest movements
Assets
- Tangible fixed assets -€9,886
down €9,886 (-13.6%), from €72,447 to €62,561
of which Land and buildings: -€7,401
Equity and liabilities
- Reserves +€16,657
up €16,657 (+13.4%), from €124,688 to €141,345
of which Distributable reserves: +€16,657
- Debts after one year -€15,783
down €15,783 (-7.6%), from €207,719 to €191,935
- Trade debts -€13,649
down €13,649 (-85.2%), from €16,014 to €2,365
Income statement
- Gross operating margin +€6,322
up €6,322 (+19.6%), from €32,275 to €38,597
- Taxes +€3,067
up €3,067 (+87.4%), from €3,508 to €6,574
- Financial charges -€615
down €615 (-10.0%), from €6,131 to €5,516
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€13,058
Gross operating margin
+€6,322
Depreciation
-€307
Financial income
+€36
Financial charges
+€615
Taxes
-€3,067
Result 2026
€16,657
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€16,937
Investment
-€2,200
Financing
-€15,375
Cash 2025
€2,166
From operations (derived)
+€16,937
Net result for the year
+€16,657
Depreciation
+€9,886
Trade debts
-€13,649
Tax, wage and social debts
+€2,293
Other debts
+€1,751
Investment (derived)
-€2,200
Current investments
-€2,200
Financing
-€15,375
Debts after one year
-€15,783
Current portion of long-term debt
+€409
Cash 2026
€1,529
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €434,721 | €426,397 | -€8,324 | -1.9% |
| Fixed assets | 21/28 | €432,447 | €422,561 | -€9,886 | -2.3% |
| Tangible fixed assets | 22/27 | €72,447 | €62,561 | -€9,886 | -13.6% |
| Land and buildings | 22 | €56,378 | €48,978 | -€7,401 | -13.1% |
| Plant, machinery and equipment | 23 | €15,525 | €13,583 | -€1,942 | -12.5% |
| Furniture and vehicles | 24 | €544 | - | -€544 | |
| Financial fixed assets | 28 | €360,000 | €360,000 | = | 0.0% |
| Current assets | 29/58 | €2,274 | €3,837 | +€1,563 | +68.7% |
| Current investments | 50/53 | €108 | €2,308 | +€2,200 | +2,036% |
| Cash at bank and in hand | 54/58 | €2,166 | €1,529 | -€637 | -29.4% |
| Total equity and liabilities | 10/49 | €434,721 | €426,397 | -€8,324 | -1.9% |
| Equity | 10/15 | €143,238 | €159,895 | +€16,657 | +11.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €124,688 | €141,345 | +€16,657 | +13.4% |
| Tax-exempt reserves | 132 | €16,428 | €16,428 | = | 0.0% |
| Distributable reserves | 133 | €108,260 | €124,918 | +€16,657 | +15.4% |
| Amounts payable | 17/49 | €291,483 | €266,502 | -€24,981 | -8.6% |
| Amounts payable after more than one year | 17 | €207,719 | €191,935 | -€15,783 | -7.6% |
| Financial debts | 170/4 | €207,719 | €191,935 | -€15,783 | -7.6% |
| Amounts payable within one year | 42/48 | €83,764 | €74,567 | -€9,197 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €33,498 | €33,906 | +€409 | +1.2% |
| Trade debts | 44 | €16,014 | €2,365 | -€13,649 | -85.2% |
| Suppliers | 440/4 | €16,014 | €2,365 | -€13,649 | -85.2% |
| Taxes, remuneration and social security | 45 | €1,282 | €3,574 | +€2,293 | +179% |
| Taxes | 450/3 | €1,282 | €574 | -€707 | -55.2% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €32,971 | €34,721 | +€1,751 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,579 | €9,886 | +€307 | +3.2% |
| Gross operating margin | 9900 | €32,275 | €38,597 | +€6,322 | +19.6% |
| Operating profit (loss) | 9901 | €22,696 | €28,711 | +€6,015 | +26.5% |
| Financial income | 75/76B | - | €36 | +€36 | |
| Recurring financial income | 75 | - | €36 | +€36 | |
| Financial charges | 65/66B | €6,131 | €5,516 | -€615 | -10.0% |
| Recurring financial charges | 65 | €6,131 | €5,516 | -€615 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €16,565 | €23,232 | +€6,666 | +40.2% |
| Income taxes | 67/77 | €3,508 | €6,574 | +€3,067 | +87.4% |
| Profit (loss) for the period | 9904 | €13,058 | €16,657 | +€3,600 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,058 | €16,657 | +€3,600 | +27.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.