PVG TECHNICS: 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.
PVG TECHNICS
Largest movements
- Receivables within one year -€12,405
down €12,405 (-47.4%), from €26,152 to €13,748
of which Trade receivables: -€13,945
- Cash +€5,717
up €5,717 (+3.1%), from €184,929 to €190,646
mainly Net result for the year (+€18,418) and Receivables within one year (+€12,405)
- Stocks and contracts -€3,794
down €3,794 (-31.2%), from €12,161 to €8,367
- Tax, wage and social debts -€21,145
down €21,145 (-81.7%), from €25,895 to €4,750
of which Taxes: -€13,966
- Profit (loss) carried forward +€15,919
up €15,919 (+32.4%), from €49,113 to €65,032
- Trade debts -€9,407
down €9,407 (-29.8%), from €31,608 to €22,201
- Debts after one year +€4,915
new in 2025: €4,915
- Gross operating margin -€35,903
down €35,903 (-51.3%), from €69,992 to €34,089
- Taxes -€10,535
down €10,535 (-56.7%), from €18,595 to €8,060
- Depreciation +€1,020
up €1,020 (+17.6%), from €5,785 to €6,805
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 | €244,348 | €233,775 | -€10,573 | -4.3% |
| Fixed assets | 21/28 | €20,107 | €18,425 | -€1,682 | -8.4% |
| Tangible fixed assets | 22/27 | €20,107 | €18,425 | -€1,682 | -8.4% |
| Plant, machinery and equipment | 23 | €1,494 | €358 | -€1,136 | -76.0% |
| Furniture and vehicles | 24 | €18,612 | €18,066 | -€546 | -2.9% |
| Current assets | 29/58 | €224,241 | €215,350 | -€8,891 | -4.0% |
| Stocks and contracts in progress | 3 | €12,161 | €8,367 | -€3,794 | -31.2% |
| Stocks | 30/36 | €12,161 | €8,367 | -€3,794 | -31.2% |
| Amounts receivable within one year | 40/41 | €26,152 | €13,748 | -€12,405 | -47.4% |
| Trade receivables | 40 | €17,584 | €3,639 | -€13,945 | -79.3% |
| Other amounts receivable | 41 | €8,568 | €10,108 | +€1,540 | +18.0% |
| Cash at bank and in hand | 54/58 | €184,929 | €190,646 | +€5,717 | +3.1% |
| Deferred charges and accrued income | 490/1 | €999 | €2,590 | +€1,591 | +159.2% |
| Total equity and liabilities | 10/49 | €244,348 | €233,775 | -€10,573 | -4.3% |
| Equity | 10/15 | €173,853 | €189,772 | +€15,919 | +9.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €119,740 | €119,740 | = | 0.0% |
| Distributable reserves | 133 | €119,740 | €119,740 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,113 | €65,032 | +€15,919 | +32.4% |
| Amounts payable | 17/49 | €70,495 | €44,003 | -€26,492 | -37.6% |
| Amounts payable after more than one year | 17 | - | €4,915 | +€4,915 | |
| Financial debts | 170/4 | - | €4,915 | +€4,915 | |
| Amounts payable within one year | 42/48 | €70,495 | €39,087 | -€31,407 | -44.6% |
| Current portion of amounts payable after more than one year | 42 | €135 | €1,141 | +€1,006 | +743.1% |
| Trade debts | 44 | €31,608 | €22,201 | -€9,407 | -29.8% |
| Suppliers | 440/4 | €31,608 | €22,201 | -€9,407 | -29.8% |
| Taxes, remuneration and social security | 45 | €25,895 | €4,750 | -€21,145 | -81.7% |
| Taxes | 450/3 | €18,716 | €4,750 | -€13,966 | -74.6% |
| Remuneration and social security | 454/9 | €7,179 | - | -€7,179 | |
| Other amounts payable | 47/48 | €12,856 | €10,996 | -€1,861 | -14.5% |
| Non-recurring operating income | 76A | - | €1,871 | +€1,871 | |
| Remuneration, social security and pensions | 62 | - | €33 | +€33 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,785 | €6,805 | +€1,020 | +17.6% |
| Other operating charges | 640/8 | €761 | €771 | +€11 | +1.4% |
| Gross operating margin | 9900 | €69,992 | €34,089 | -€35,903 | -51.3% |
| Operating profit (loss) | 9901 | €63,446 | €26,479 | -€36,966 | -58.3% |
| Financial income | 75/76B | €39 | €181 | +€143 | +370.7% |
| Recurring financial income | 75 | €39 | €181 | +€143 | +370.7% |
| Financial charges | 65/66B | €131 | €183 | +€52 | +39.6% |
| Recurring financial charges | 65 | €131 | €183 | +€52 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €63,353 | €26,478 | -€36,875 | -58.2% |
| Income taxes | 67/77 | €18,595 | €8,060 | -€10,535 | -56.7% |
| Profit (loss) for the period | 9904 | €44,758 | €18,418 | -€26,340 | -58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €44,758 | €18,418 | -€26,340 | -58.9% |
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 29 September 2026 via checked.be.