PVR MANAGEMENT: 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.
PVR MANAGEMENT
Largest movements
- Cash -€23,758
down €23,758 (-70.7%), from €33,585 to €9,827
mainly Current portion of long-term debt (-€30,178) and Tax, wage and social debts (-€11,138)
- Tangible fixed assets -€13,123
down €13,123 (-2.5%), from €531,917 to €518,793
of which Land and buildings: -€13,701
- Receivables within one year -€12,026
down €12,026 (-71.2%), from €16,902 to €4,876
of which Trade receivables: -€15,214
- Current portion of long-term debt -€30,178
no longer reported in 2025 (was €30,178)
- Tax, wage and social debts -€11,138
down €11,138 (-96.5%), from €11,544 to €406
- Gross operating margin -€73,435
down €73,435 (-82.9%), from €88,533 to €15,098
- Taxes -€21,247
down €21,247 (-99.5%), from €21,352 to €105
- Financial income +€4,924
up €4,924 (+204%), from €2,408 to €7,332
- Other operating charges +€1,573
up €1,573 (+66.5%), from €2,366 to €3,938
- Depreciation -€1,381
down €1,381 (-8.7%), from €15,950 to €14,568
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 | €751,805 | €698,921 | -€52,884 | -7.0% |
| Fixed assets | 21/28 | €532,022 | €518,898 | -€13,123 | -2.5% |
| Tangible fixed assets | 22/27 | €531,917 | €518,793 | -€13,123 | -2.5% |
| Land and buildings | 22 | €531,318 | €517,617 | -€13,701 | -2.6% |
| Furniture and vehicles | 24 | €599 | €1,177 | +€578 | +96.4% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €219,783 | €180,023 | -€39,760 | -18.1% |
| Amounts receivable within one year | 40/41 | €16,902 | €4,876 | -€12,026 | -71.2% |
| Trade receivables | 40 | €15,996 | €782 | -€15,214 | -95.1% |
| Other amounts receivable | 41 | €907 | €4,094 | +€3,188 | +352% |
| Current investments | 50/53 | €169,295 | €165,319 | -€3,976 | -2.3% |
| Cash at bank and in hand | 54/58 | €33,585 | €9,827 | -€23,758 | -70.7% |
| Total equity and liabilities | 10/49 | €751,805 | €698,921 | -€52,884 | -7.0% |
| Equity | 10/15 | €415,042 | €410,665 | -€4,378 | -1.1% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €345,042 | €340,665 | -€4,378 | -1.3% |
| Tax-exempt reserves | 132 | €36,375 | €36,375 | = | 0.0% |
| Distributable reserves | 133 | €308,667 | €304,289 | -€4,378 | -1.4% |
| Amounts payable | 17/49 | €336,763 | €288,257 | -€48,506 | -14.4% |
| Amounts payable after more than one year | 17 | €274,514 | €274,514 | = | 0.0% |
| Financial debts | 170/4 | €274,514 | €274,514 | = | 0.0% |
| Amounts payable within one year | 42/48 | €61,568 | €13,214 | -€48,353 | -78.5% |
| Current portion of amounts payable after more than one year | 42 | €30,178 | - | -€30,178 | |
| Trade debts | 44 | €2,249 | €1,029 | -€1,220 | -54.2% |
| Suppliers | 440/4 | €2,249 | €1,029 | -€1,220 | -54.2% |
| Taxes, remuneration and social security | 45 | €11,544 | €406 | -€11,138 | -96.5% |
| Taxes | 450/3 | €11,544 | €406 | -€11,138 | -96.5% |
| Other amounts payable | 47/48 | €17,597 | €11,779 | -€5,818 | -33.1% |
| Accrued charges and deferred income | 492/3 | €681 | €529 | -€153 | -22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,950 | €14,568 | -€1,381 | -8.7% |
| Other operating charges | 640/8 | €2,366 | €3,938 | +€1,573 | +66.5% |
| Gross operating margin | 9900 | €88,533 | €15,098 | -€73,435 | -82.9% |
| Operating profit (loss) | 9901 | €70,217 | -€3,409 | -€73,626 | |
| Financial income | 75/76B | €2,408 | €7,332 | +€4,924 | +204% |
| Recurring financial income | 75 | €2,408 | €7,332 | +€4,924 | +204% |
| Financial charges | 65/66B | €9,324 | €8,196 | -€1,128 | -12.1% |
| Recurring financial charges | 65 | €9,324 | €8,196 | -€1,128 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €63,302 | -€4,273 | -€67,574 | |
| Income taxes | 67/77 | €21,352 | €105 | -€21,247 | -99.5% |
| Profit (loss) for the period | 9904 | €41,950 | -€4,378 | -€46,327 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,950 | -€4,378 | -€46,327 |
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.