PXT CAPITAL: 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.
What changed
PXT CAPITAL
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.2m
2024 · -€1.4m+€3.6m
Equity
€61.4m
2024 · €59.2m+€2.2m
Cash
€6.4m
2024 · €5.3m+€1.2m
Balance sheet total
€67.9m
2024 · €64.8m+€3.1m
Largest movements
Assets
- Cash +€1.2m
up €1.2m (+22.5%), from €5.3m to €6.4m
mainly Net result for the year (+€2.2m) and Tax, wage and social debts (+€519,848)
- Receivables within one year +€960,482
up €960,482 (+13.7%), from €7.0m to €8.0m
of which Other amounts receivable: +€908,006
Equity and liabilities
- Reserves +€2.2m
up €2.2m (+4.7%), from €47.6m to €49.8m
of which Distributable reserves: +€2.4m
Income statement
- Financial charges -€2.8m
down €2.8m, from €2.5m to -€357,815
of which Financial charges: -€2.0m
- Financial income +€1.1m
up €1.1m (+64.0%), from €1.8m to €2.9m
of which Financial income: +€1.1m
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.
Result 2024
-€1.4m
Depreciation
+€870
Other operating charges
+€14,591
Other operating items
-€13,065
Financial income
+€1.1m
Financial charges
+€2.8m
Taxes
-€312,456
Result 2025
€2.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.8m
Investment
-€1.1m
Financing
+€500,174
Cash 2024
€5.3m
From operations (derived)
+€1.8m
Net result for the year
+€2.2m
Depreciation
+€193,582
Receivables within one year
-€960,482
Smaller working-capital items
+€5,446
Trade debts
+€36,716
Tax, wage and social debts
+€519,848
Other debts
-€196,787
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€550,641
Current investments
-€591,343
Financing
+€500,174
Short-term financial debts
+€500,174
Cash 2025
€6.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €64,790,787 | €67,883,795 | +€3.1m | +4.8% |
| Fixed assets | 21/28 | €32,764,262 | €33,121,320 | +€357,059 | +1.1% |
| Tangible fixed assets | 22/27 | €1,862,181 | €1,713,408 | -€148,773 | -8.0% |
| Land and buildings | 22 | €991,170 | €976,755 | -€14,415 | -1.5% |
| Plant, machinery and equipment | 23 | €859,011 | €680,657 | -€178,354 | -20.8% |
| Furniture and vehicles | 24 | €12,000 | €55,996 | +€43,996 | +367% |
| Financial fixed assets | 28 | €30,902,081 | €31,407,913 | +€505,832 | +1.6% |
| Affiliated companies | 280/1 | €29,625,045 | €30,139,977 | +€514,932 | +1.7% |
| Participating interests | 280 | €29,625,045 | €30,139,977 | +€514,932 | +1.7% |
| Companies linked by participating interests | 282/3 | €200,922 | €200,922 | = | 0.0% |
| Participating interests | 282 | €200,922 | €200,922 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,076,113 | €1,067,013 | -€9,100 | -0.8% |
| Shares | 284 | €1,076,113 | €1,067,013 | -€9,100 | -0.8% |
| Current assets | 29/58 | €32,026,525 | €34,762,475 | +€2.7m | +8.5% |
| Stocks and contracts in progress | 3 | €3,305 | €3,305 | = | 0.0% |
| Stocks | 30/36 | €3,305 | €3,305 | = | 0.0% |
| Goods purchased for resale | 34 | €3,305 | €3,305 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,033,014 | €7,993,496 | +€960,482 | +13.7% |
| Trade receivables | 40 | - | €52,476 | +€52,476 | |
| Other amounts receivable | 41 | €7,033,014 | €7,941,020 | +€908,006 | +12.9% |
| Current investments | 50/53 | €19,725,262 | €20,316,605 | +€591,343 | +3.0% |
| Other investments | 51/53 | €19,725,262 | €20,316,605 | +€591,343 | +3.0% |
| Cash at bank and in hand | 54/58 | €5,262,499 | €6,449,069 | +€1.2m | +22.5% |
| Deferred charges and accrued income | 490/1 | €2,445 | €0 | -€2,445 | -100% |
| Total equity and liabilities | 10/49 | €64,790,787 | €67,883,795 | +€3.1m | +4.8% |
| Equity | 10/15 | €59,208,069 | €61,438,125 | +€2.2m | +3.8% |
| Contributions | 10/11 | €11,623,712 | €11,623,712 | = | 0.0% |
| Reserves | 13 | €47,584,357 | €49,814,413 | +€2.2m | +4.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €168,400 | €0 | -€168,400 | -100% |
| Distributable reserves | 133 | €47,415,957 | €49,814,413 | +€2.4m | +5.1% |
| Amounts payable | 17/49 | €5,582,718 | €6,445,670 | +€862,952 | +15.5% |
| Amounts payable within one year | 42/48 | €5,582,718 | €6,442,669 | +€859,951 | +15.4% |
| Financial debts | 43 | €0 | €500,174 | +€500,174 | |
| Credit institutions | 430/8 | €0 | €500,174 | +€500,174 | |
| Trade debts | 44 | €14,317 | €51,032 | +€36,716 | +256% |
| Suppliers | 440/4 | €14,317 | €51,032 | +€36,716 | +256% |
| Taxes, remuneration and social security | 45 | €25,000 | €544,848 | +€519,848 | +2,079% |
| Taxes | 450/3 | €25,000 | €544,848 | +€519,848 | +2,079% |
| Other amounts payable | 47/48 | €5,543,401 | €5,346,615 | -€196,787 | -3.5% |
| Accrued charges and deferred income | 492/3 | - | €3,001 | +€3,001 | |
| Operating income | 70/76A | €79,852 | €68,918 | -€10,934 | -13.7% |
| Other operating income | 74 | €73,604 | €63,902 | -€9,702 | -13.2% |
| Non-recurring operating income | 76A | €6,248 | €5,016 | -€1,232 | -19.7% |
| Operating charges | 60/66A | €418,465 | €405,135 | -€13,330 | -3.2% |
| Services and other goods | 61 | €175,102 | €177,232 | +€2,130 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194,452 | €193,582 | -€870 | -0.4% |
| Other operating charges | 640/8 | €48,911 | €34,320 | -€14,591 | -29.8% |
| Operating profit (loss) | 9901 | -€338,613 | -€336,217 | +€2,396 | +0.7% |
| Financial income | 75/76B | €1,771,009 | €2,904,236 | +€1.1m | +64.0% |
| Recurring financial income | 75 | €1,771,009 | €2,904,236 | +€1.1m | +64.0% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €324,213 | €245,244 | -€78,969 | -24.4% |
| Other financial income | 752/9 | €1,446,796 | €2,658,993 | +€1.2m | +83.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €2,452,701 | -€357,815 | -€2.8m | |
| Recurring financial charges | 65 | €1,664,057 | -€357,815 | -€2.0m | |
| Debt charges | 650 | €56,677 | €70,372 | +€13,695 | +24.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €972,403 | -€1,066,732 | -€2.0m | |
| Other financial charges | 652/9 | €634,978 | €638,545 | +€3,568 | +0.6% |
| Non-recurring financial charges | 66B | €788,644 | €0 | -€788,644 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€1,020,305 | €2,925,835 | +€3.9m | |
| Income taxes | 67/77 | €383,322 | €695,778 | +€312,456 | +81.5% |
| Taxes | 670/3 | €383,322 | €695,930 | +€312,608 | +81.6% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €152 | +€152 | |
| Profit (loss) for the period | 9904 | -€1,403,627 | €2,230,057 | +€3.6m | |
| Transfer from tax-exempt reserves | 789 | - | €168,400 | +€168,400 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,403,627 | €2,398,457 | +€3.8m |
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 23 October 2026 via checked.be.