PVH projects: 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.
PVH projects
Largest movements
- Cash +€953,351
up €953,351 (+75.5%), from €1.3m to €2.2m
mainly Net result for the year (+€941,909) and Current investments (+€400,000)
- Current investments -€400,000
down €400,000 (-87.0%), from €459,745 to €59,745
- Receivables within one year -€348,883
down €348,883 (-83.5%), from €417,842 to €68,959
of which Trade receivables: -€235,867
- Tangible fixed assets -€48,946
down €48,946 (-34.6%), from €141,280 to €92,334
of which Plant, machinery and equipment: -€36,958
- Reserves +€830,621
up €830,621 (+70.4%), from €1.2m to €2.0m
of which Distributable reserves: +€830,621
- Trade debts -€785,724
down €785,724 (-87.9%), from €893,971 to €108,247
- Other debts +€116,103
up €116,103 (+89.8%), from €129,249 to €245,351
- Debts after one year -€103,533
down €103,533 (-81.0%), from €127,867 to €24,333
- Tax, wage and social debts +€91,843
up €91,843 (+423%), from €21,715 to €113,558
of which Taxes: +€83,772
- Gross operating margin +€1.2m
up €1.2m (+344%), from €351,673 to €1.6m
- Taxes +€365,434
up €365,434 (+487%), from €75,033 to €440,468
- Staff costs +€77,025
up €77,025 (+170%), from €45,418 to €122,442
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 | €2,401,342 | €2,544,108 | +€142,766 | +5.9% |
| Fixed assets | 21/28 | €256,217 | €194,684 | -€61,533 | -24.0% |
| Intangible fixed assets | 21 | €114,857 | €102,271 | -€12,586 | -11.0% |
| Tangible fixed assets | 22/27 | €141,280 | €92,334 | -€48,946 | -34.6% |
| Land and buildings | 22 | €59,152 | €47,163 | -€11,989 | -20.3% |
| Plant, machinery and equipment | 23 | €82,128 | €45,171 | -€36,958 | -45.0% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €2,145,125 | €2,349,424 | +€204,299 | +9.5% |
| Amounts receivable within one year | 40/41 | €417,842 | €68,959 | -€348,883 | -83.5% |
| Trade receivables | 40 | €250,383 | €14,515 | -€235,867 | -94.2% |
| Other amounts receivable | 41 | €167,460 | €54,444 | -€113,016 | -67.5% |
| Current investments | 50/53 | €459,745 | €59,745 | -€400,000 | -87.0% |
| Cash at bank and in hand | 54/58 | €1,262,039 | €2,215,390 | +€953,351 | +75.5% |
| Deferred charges and accrued income | 490/1 | €5,499 | €5,330 | -€169 | -3.1% |
| Total equity and liabilities | 10/49 | €2,401,342 | €2,544,108 | +€142,766 | +5.9% |
| Equity | 10/15 | €1,197,608 | €2,028,228 | +€830,621 | +69.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,179,058 | €2,009,678 | +€830,621 | +70.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,179,058 | €2,009,678 | +€830,621 | +70.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,203,735 | €515,880 | -€687,854 | -57.1% |
| Amounts payable after more than one year | 17 | €127,867 | €24,333 | -€103,533 | -81.0% |
| Financial debts | 170/4 | €127,867 | €24,333 | -€103,533 | -81.0% |
| Amounts payable within one year | 42/48 | €1,075,868 | €491,490 | -€584,378 | -54.3% |
| Current portion of amounts payable after more than one year | 42 | €30,933 | €24,333 | -€6,600 | -21.3% |
| Trade debts | 44 | €893,971 | €108,247 | -€785,724 | -87.9% |
| Suppliers | 440/4 | €893,971 | €108,247 | -€785,724 | -87.9% |
| Taxes, remuneration and social security | 45 | €21,715 | €113,558 | +€91,843 | +423% |
| Taxes | 450/3 | €15,971 | €99,743 | +€83,772 | +525% |
| Remuneration and social security | 454/9 | €5,744 | €13,815 | +€8,071 | +141% |
| Other amounts payable | 47/48 | €129,249 | €245,351 | +€116,103 | +89.8% |
| Accrued charges and deferred income | 492/3 | - | €57 | +€57 | |
| Non-recurring operating income | 76A | €4,000 | €0 | -€4,000 | -100% |
| Remuneration, social security and pensions | 62 | €45,418 | €122,442 | +€77,025 | +170% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,557 | €61,533 | -€7,024 | -10.2% |
| Other operating charges | 640/8 | €2,461 | €2,577 | +€116 | +4.7% |
| Gross operating margin | 9900 | €351,673 | €1,561,601 | +€1.2m | +344% |
| Operating profit (loss) | 9901 | €235,237 | €1,375,049 | +€1.1m | +485% |
| Financial income | 75/76B | €4,764 | €15,417 | +€10,653 | +224% |
| Recurring financial income | 75 | €4,764 | €15,417 | +€10,653 | +224% |
| Financial charges | 65/66B | €5,219 | €8,089 | +€2,870 | +55.0% |
| Recurring financial charges | 65 | €5,219 | €8,089 | +€2,870 | +55.0% |
| Profit (loss) for the period before taxes | 9903 | €234,782 | €1,382,377 | +€1.1m | +489% |
| Income taxes | 67/77 | €75,033 | €440,468 | +€365,434 | +487% |
| Profit (loss) for the period | 9904 | €159,749 | €941,909 | +€782,161 | +490% |
| Profit (loss) for the period to be appropriated | 9905 | €159,749 | €941,909 | +€782,161 | +490% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.