Pvot: 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.
Pvot
Largest movements
- Current investments +€107,496
up €107,496 (+162.9%), from €66,000 to €173,496
- Cash -€39,222
down €39,222 (-33.9%), from €115,774 to €76,552
mainly Contributions, distributions and other (-€144,183) and Current investments (-€107,496)
- Receivables within one year +€26,164
up €26,164 (+165.8%), from €15,778 to €41,942
of which Trade receivables: +€26,148
- Tangible fixed assets -€3,820
down €3,820 (-52.3%), from €7,298 to €3,478
of which Furniture and vehicles: -€3,252
- Other debts +€143,494
up €143,494 (+6270.2%), from €2,289 to €145,783
- Reserves -€59,183
down €59,183 (-33.7%), from €175,660 to €116,477
- Tax, wage and social debts +€5,243
up €5,243 (+24.7%), from €21,251 to €26,494
- Taxes -€6,267
down €6,267 (-21.3%), from €29,407 to €23,140
- Gross operating margin +€5,660
up €5,660 (+5.3%), from €106,322 to €111,983
- Depreciation +€1,740
up €1,740 (+72.2%), from €2,409 to €4,149
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 | €207,311 | €297,969 | +€90,658 | +43.7% |
| Fixed assets | 21/28 | €7,298 | €3,478 | -€3,820 | -52.3% |
| Tangible fixed assets | 22/27 | €7,298 | €3,478 | -€3,820 | -52.3% |
| Plant, machinery and equipment | 23 | €1,790 | €1,222 | -€567 | -31.7% |
| Furniture and vehicles | 24 | €5,508 | €2,255 | -€3,252 | -59.0% |
| Current assets | 29/58 | €200,014 | €294,492 | +€94,478 | +47.2% |
| Amounts receivable within one year | 40/41 | €15,778 | €41,942 | +€26,164 | +165.8% |
| Trade receivables | 40 | €15,778 | €41,927 | +€26,148 | +165.7% |
| Other amounts receivable | 41 | €0 | €16 | +€16 | |
| Current investments | 50/53 | €66,000 | €173,496 | +€107,496 | +162.9% |
| Cash at bank and in hand | 54/58 | €115,774 | €76,552 | -€39,222 | -33.9% |
| Deferred charges and accrued income | 490/1 | €2,461 | €2,501 | +€40 | +1.6% |
| Total equity and liabilities | 10/49 | €207,311 | €297,969 | +€90,658 | +43.7% |
| Equity | 10/15 | €180,660 | €122,453 | -€58,208 | -32.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €175,660 | €116,477 | -€59,183 | -33.7% |
| Distributable reserves | 133 | €175,660 | €116,477 | -€59,183 | -33.7% |
| Profit (loss) carried forward | 14 | - | €975 | +€975 | |
| Amounts payable | 17/49 | €26,651 | €175,517 | +€148,866 | +558.6% |
| Amounts payable within one year | 42/48 | €26,651 | €175,517 | +€148,866 | +558.6% |
| Financial debts | 43 | - | €19 | +€19 | |
| Credit institutions | 430/8 | - | €19 | +€19 | |
| Trade debts | 44 | €3,111 | €3,222 | +€110 | +3.5% |
| Suppliers | 440/4 | €3,111 | €3,222 | +€110 | +3.5% |
| Taxes, remuneration and social security | 45 | €21,251 | €26,494 | +€5,243 | +24.7% |
| Taxes | 450/3 | €21,251 | €26,494 | +€5,243 | +24.7% |
| Other amounts payable | 47/48 | €2,289 | €145,783 | +€143,494 | +6270.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,409 | €4,149 | +€1,740 | +72.2% |
| Other operating charges | 640/8 | €909 | €938 | +€30 | +3.3% |
| Gross operating margin | 9900 | €106,322 | €111,983 | +€5,660 | +5.3% |
| Operating profit (loss) | 9901 | €103,005 | €106,895 | +€3,890 | +3.8% |
| Financial income | 75/76B | €1,830 | €2,304 | +€474 | +25.9% |
| Recurring financial income | 75 | €1,830 | €2,304 | +€474 | +25.9% |
| Financial charges | 65/66B | €275 | €83 | -€192 | -69.8% |
| Recurring financial charges | 65 | €275 | €83 | -€192 | -69.8% |
| Profit (loss) for the period before taxes | 9903 | €104,559 | €109,116 | +€4,556 | +4.4% |
| Income taxes | 67/77 | €29,407 | €23,140 | -€6,267 | -21.3% |
| Profit (loss) for the period | 9904 | €75,152 | €85,975 | +€10,823 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €75,152 | €85,975 | +€10,823 | +14.4% |
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 8 October 2026 via checked.be.