PVS Construct: 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.
PVS Construct
Largest movements
- Intangible fixed assets -€7,143
down €7,143 (-30.0%), from €23,810 to €16,667
- Cash +€4,435
up €4,435 (+221.6%), from €2,001 to €6,437
mainly Net result for the year (+€22,563) and Depreciation (+€7,757)
- Receivables within one year -€1,932
down €1,932 (-15.3%), from €12,639 to €10,707
of which Trade receivables: -€4,466
- Reserves +€24,000
up €24,000 (+96.0%), from €25,000 to €49,000
- Other debts -€9,961
down €9,961 (-46.0%), from €21,666 to €11,705
- Current portion of long-term debt -€6,779
down €6,779 (-66.4%), from €10,212 to €3,433
- Debts after one year -€3,433
no longer reported in 2025 (was €3,433)
- Tax, wage and social debts -€2,829
down €2,829 (-57.8%), from €4,891 to €2,063
- Gross operating margin +€15,302
up €15,302 (+73.6%), from €20,802 to €36,104
- Taxes +€3,093
up €3,093 (+109.3%), from €2,829 to €5,922
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 | €74,117 | €69,275 | -€4,842 | -6.5% |
| Fixed assets | 21/28 | €24,476 | €17,131 | -€7,345 | -30.0% |
| Intangible fixed assets | 21 | €23,810 | €16,667 | -€7,143 | -30.0% |
| Tangible fixed assets | 22/27 | €667 | €465 | -€202 | -30.3% |
| Plant, machinery and equipment | 23 | €667 | €167 | -€500 | -75.0% |
| Furniture and vehicles | 24 | - | €298 | +€298 | |
| Current assets | 29/58 | €49,640 | €52,144 | +€2,503 | +5.0% |
| Amounts receivable after more than one year | 29 | €35,000 | €35,000 | = | 0.0% |
| Other amounts receivable | 291 | €35,000 | €35,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €12,639 | €10,707 | -€1,932 | -15.3% |
| Trade receivables | 40 | €11,805 | €7,340 | -€4,466 | -37.8% |
| Other amounts receivable | 41 | €834 | €3,367 | +€2,534 | +303.8% |
| Cash at bank and in hand | 54/58 | €2,001 | €6,437 | +€4,435 | +221.6% |
| Total equity and liabilities | 10/49 | €74,117 | €69,275 | -€4,842 | -6.5% |
| Equity | 10/15 | €29,245 | €51,809 | +€22,563 | +77.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €25,000 | €49,000 | +€24,000 | +96.0% |
| Distributable reserves | 133 | €25,000 | €49,000 | +€24,000 | +96.0% |
| Profit (loss) carried forward | 14 | €1,745 | €309 | -€1,437 | -82.3% |
| Amounts payable | 17/49 | €44,871 | €17,466 | -€27,405 | -61.1% |
| Amounts payable after more than one year | 17 | €3,433 | - | -€3,433 | |
| Financial debts | 170/4 | €3,433 | - | -€3,433 | |
| Amounts payable within one year | 42/48 | €39,082 | €17,466 | -€21,615 | -55.3% |
| Current portion of amounts payable after more than one year | 42 | €10,212 | €3,433 | -€6,779 | -66.4% |
| Trade debts | 44 | €2,312 | €266 | -€2,047 | -88.5% |
| Suppliers | 440/4 | €2,312 | €266 | -€2,047 | -88.5% |
| Taxes, remuneration and social security | 45 | €4,891 | €2,063 | -€2,829 | -57.8% |
| Taxes | 450/3 | €4,891 | €2,063 | -€2,829 | -57.8% |
| Other amounts payable | 47/48 | €21,666 | €11,705 | -€9,961 | -46.0% |
| Accrued charges and deferred income | 492/3 | €2,357 | - | -€2,357 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,643 | €7,757 | +€115 | +1.5% |
| Other operating charges | 640/8 | €665 | €531 | -€134 | -20.1% |
| Gross operating margin | 9900 | €20,802 | €36,104 | +€15,302 | +73.6% |
| Operating profit (loss) | 9901 | €12,494 | €27,815 | +€15,321 | +122.6% |
| Financial income | 75/76B | €1,063 | €875 | -€188 | -17.7% |
| Recurring financial income | 75 | €1,063 | €875 | -€188 | -17.7% |
| Financial charges | 65/66B | €404 | €205 | -€199 | -49.3% |
| Recurring financial charges | 65 | €404 | €205 | -€199 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | €13,152 | €28,485 | +€15,333 | +116.6% |
| Income taxes | 67/77 | €2,829 | €5,922 | +€3,093 | +109.3% |
| Profit (loss) for the period | 9904 | €10,324 | €22,563 | +€12,240 | +118.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,324 | €22,563 | +€12,240 | +118.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.