PVW Consult: 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.
PVW Consult
Largest movements
- Cash -€46,730
down €46,730 (-10.6%), from €440,897 to €394,167
mainly Other debts (-€74,021) and Investment in fixed assets (net) (-€47,787)
- Tangible fixed assets +€37,725
up €37,725 (+18.8%), from €200,550 to €238,275
of which Other tangible fixed assets: +€42,578
- Receivables within one year +€7,888
up €7,888 (+22.3%), from €35,417 to €43,305
of which Trade receivables: +€5,212
- Reserves +€80,675
up €80,675 (+16.1%), from €501,637 to €582,312
- Other debts -€74,021
down €74,021 (-50.2%), from €147,499 to €73,477
- Tax, wage and social debts -€10,283
down €10,283 (-81.9%), from €12,552 to €2,269
- Gross operating margin +€56,321
up €56,321 (+31.0%), from €181,704 to €238,026
- Taxes +€32,388
up €32,388 (+99.5%), from €32,552 to €64,940
- Financial charges +€12,390
up €12,390 (+18.1%), from €68,487 to €80,876
- Depreciation +€2,874
up €2,874 (+40.0%), from €7,187 to €10,062
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 | €681,781 | €679,985 | -€1,796 | -0.3% |
| Fixed assets | 21/28 | €202,410 | €240,135 | +€37,725 | +18.6% |
| Tangible fixed assets | 22/27 | €200,550 | €238,275 | +€37,725 | +18.8% |
| Land and buildings | 22 | €187,959 | €183,059 | -€4,900 | -2.6% |
| Plant, machinery and equipment | 23 | €159 | €77 | -€82 | -51.8% |
| Furniture and vehicles | 24 | €3,538 | €3,667 | +€129 | +3.6% |
| Other tangible fixed assets | 26 | €8,894 | €51,473 | +€42,578 | +479% |
| Financial fixed assets | 28 | €1,860 | €1,860 | = | 0.0% |
| Current assets | 29/58 | €479,371 | €439,850 | -€39,521 | -8.2% |
| Amounts receivable within one year | 40/41 | €35,417 | €43,305 | +€7,888 | +22.3% |
| Trade receivables | 40 | €33,935 | €39,147 | +€5,212 | +15.4% |
| Other amounts receivable | 41 | €1,482 | €4,158 | +€2,676 | +181% |
| Cash at bank and in hand | 54/58 | €440,897 | €394,167 | -€46,730 | -10.6% |
| Deferred charges and accrued income | 490/1 | €3,057 | €2,377 | -€679 | -22.2% |
| Total equity and liabilities | 10/49 | €681,781 | €679,985 | -€1,796 | -0.3% |
| Equity | 10/15 | €507,837 | €588,512 | +€80,675 | +15.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €501,637 | €582,312 | +€80,675 | +16.1% |
| Distributable reserves | 133 | €501,637 | €582,312 | +€80,675 | +16.1% |
| Amounts payable | 17/49 | €173,945 | €91,473 | -€82,472 | -47.4% |
| Amounts payable within one year | 42/48 | €163,140 | €78,655 | -€84,485 | -51.8% |
| Financial debts | 43 | €2,450 | €2,484 | +€34 | +1.4% |
| Credit institutions | 430/8 | €2,450 | €2,484 | +€34 | +1.4% |
| Trade debts | 44 | €639 | €425 | -€215 | -33.6% |
| Suppliers | 440/4 | €639 | €425 | -€215 | -33.6% |
| Taxes, remuneration and social security | 45 | €12,552 | €2,269 | -€10,283 | -81.9% |
| Taxes | 450/3 | €12,552 | €2,269 | -€10,283 | -81.9% |
| Other amounts payable | 47/48 | €147,499 | €73,477 | -€74,021 | -50.2% |
| Accrued charges and deferred income | 492/3 | €10,804 | €12,818 | +€2,014 | +18.6% |
| Non-recurring operating income | 76A | - | €21,074 | +€21,074 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,187 | €10,062 | +€2,874 | +40.0% |
| Other operating charges | 640/8 | €2,268 | €1,894 | -€374 | -16.5% |
| Gross operating margin | 9900 | €181,704 | €238,026 | +€56,321 | +31.0% |
| Operating profit (loss) | 9901 | €172,249 | €226,070 | +€53,821 | +31.2% |
| Financial income | 75/76B | €14 | €422 | +€408 | +2,974% |
| Recurring financial income | 75 | €14 | €422 | +€408 | +2,974% |
| Financial charges | 65/66B | €68,487 | €80,876 | +€12,390 | +18.1% |
| Recurring financial charges | 65 | €68,487 | €80,876 | +€12,390 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €103,776 | €145,615 | +€41,839 | +40.3% |
| Income taxes | 67/77 | €32,552 | €64,940 | +€32,388 | +99.5% |
| Profit (loss) for the period | 9904 | €71,224 | €80,675 | +€9,452 | +13.3% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €71,224 | €80,675 | +€9,452 | +13.3% |
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 19 October 2026 via checked.be.