PXLB: 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.
PXLB
Largest movements
- Receivables within one year +€19,644
up €19,644 (+186%), from €10,567 to €30,210
of which Trade receivables: +€20,137
- Cash -€13,046
down €13,046 (-45.1%), from €28,931 to €15,886
mainly Receivables within one year (-€19,644) and Accrued charges and deferred income (-€15,427)
- Tangible fixed assets -€6,641
down €6,641 (-14.3%), from €46,546 to €39,906
of which Land and buildings: -€4,801
- Other debts +€16,820
up €16,820 (+70.0%), from €24,012 to €40,832
- Accrued charges and deferred income -€15,427
down €15,427 (-89.0%), from €17,325 to €1,899
- Tax, wage and social debts +€4,261
up €4,261 (+710%), from €600 to €4,861
of which Taxes: +€4,261
- Trade debts -€4,254
down €4,254 (-65.0%), from €6,541 to €2,287
- Reserves +€2,362
up €2,362 (+10.2%), from €23,267 to €25,629
of which Distributable reserves: +€2,362
- Financial charges -€17,027
down €17,027 (-98.3%), from €17,313 to €286
- Financial income -€8,406
down €8,406 (-92.0%), from €9,139 to €733
- Gross operating margin -€7,649
down €7,649 (-40.0%), from €19,113 to €11,464
- Taxes +€206
up €206 (+34.1%), from €604 to €810
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 | €92,864 | €93,775 | +€912 | +1.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €49,849 | €43,703 | -€6,146 | -12.3% |
| Tangible fixed assets | 22/27 | €46,546 | €39,906 | -€6,641 | -14.3% |
| Land and buildings | 22 | €42,688 | €37,887 | -€4,801 | -11.2% |
| Furniture and vehicles | 24 | €3,859 | €2,019 | -€1,840 | -47.7% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €3,302 | €3,797 | +€494 | +15.0% |
| Current assets | 29/58 | €43,015 | €50,073 | +€7,058 | +16.4% |
| Amounts receivable within one year | 40/41 | €10,567 | €30,210 | +€19,644 | +186% |
| Trade receivables | 40 | €10,073 | €30,210 | +€20,137 | +200% |
| Other amounts receivable | 41 | €493 | €0 | -€493 | -100% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €28,931 | €15,886 | -€13,046 | -45.1% |
| Deferred charges and accrued income | 490/1 | €3,517 | €3,977 | +€460 | +13.1% |
| Total equity and liabilities | 10/49 | €92,864 | €93,775 | +€912 | +1.0% |
| Equity | 10/15 | €42,268 | €43,897 | +€1,628 | +3.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €23,267 | €25,629 | +€2,362 | +10.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €21,407 | €23,769 | +€2,362 | +11.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | +€0 | +50.0% |
| Investment grants | 15 | €6,601 | €5,867 | -€733 | -11.1% |
| Amounts payable | 17/49 | €50,595 | €49,879 | -€717 | -1.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €33,270 | €47,980 | +€14,710 | +44.2% |
| Current portion of amounts payable after more than one year | 42 | €2,117 | €0 | -€2,117 | -100% |
| Trade debts | 44 | €6,541 | €2,287 | -€4,254 | -65.0% |
| Suppliers | 440/4 | €6,541 | €2,287 | -€4,254 | -65.0% |
| Taxes, remuneration and social security | 45 | €600 | €4,861 | +€4,261 | +710% |
| Taxes | 450/3 | €600 | €4,861 | +€4,261 | +710% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €24,012 | €40,832 | +€16,820 | +70.0% |
| Accrued charges and deferred income | 492/3 | €17,325 | €1,899 | -€15,427 | -89.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,717 | €6,641 | -€76 | -1.1% |
| Other operating charges | 640/8 | €1,955 | €2,016 | +€61 | +3.1% |
| Gross operating margin | 9900 | €19,113 | €11,464 | -€7,649 | -40.0% |
| Operating profit (loss) | 9901 | €10,441 | €2,807 | -€7,634 | -73.1% |
| Financial income | 75/76B | €9,139 | €733 | -€8,406 | -92.0% |
| Recurring financial income | 75 | €9,139 | €733 | -€8,406 | -92.0% |
| Financial charges | 65/66B | €17,313 | €286 | -€17,027 | -98.3% |
| Recurring financial charges | 65 | €17,313 | €286 | -€17,027 | -98.3% |
| Profit (loss) for the period before taxes | 9903 | €2,267 | €3,254 | +€987 | +43.6% |
| Income taxes | 67/77 | €604 | €810 | +€206 | +34.1% |
| Profit (loss) for the period | 9904 | €1,663 | €2,444 | +€782 | +47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,663 | €2,444 | +€782 | +47.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.