PZ 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.
PZ MANAGEMENT
Largest movements
- Financial fixed assets +€21,820
up €21,820 (+13.7%), from €158,736 to €180,556
- Receivables within one year +€11,448
up €11,448 (+684%), from €1,674 to €13,122
of which Other amounts receivable: +€11,692
- Reserves +€40,000
up €40,000 (+35.2%), from €113,560 to €153,560
- Other debts -€10,145
down €10,145 (-46.7%), from €21,707 to €11,562
- Financial income +€19,733
up €19,733 (+66.7%), from €29,600 to €49,333
- Gross operating margin -€1,079
down €1,079 (-45.5%), from -€2,374 to -€3,453
- Taxes +€830
up €830 (+26.2%), from €3,170 to €4,000
- Financial charges -€81
down €81 (-7.9%), from €1,029 to €947
- Other operating charges -€49
down €49 (-7.0%), from €698 to €649
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 | €161,725 | €193,808 | +€32,084 | +19.8% |
| Fixed assets | 21/28 | €158,736 | €180,556 | +€21,820 | +13.7% |
| Financial fixed assets | 28 | €158,736 | €180,556 | +€21,820 | +13.7% |
| Current assets | 29/58 | €2,989 | €13,252 | +€10,264 | +343% |
| Amounts receivable within one year | 40/41 | €1,674 | €13,122 | +€11,448 | +684% |
| Trade receivables | 40 | €1,674 | €1,430 | -€244 | -14.6% |
| Other amounts receivable | 41 | - | €11,692 | +€11,692 | |
| Cash at bank and in hand | 54/58 | €1,314 | €130 | -€1,184 | -90.1% |
| Total equity and liabilities | 10/49 | €161,725 | €193,808 | +€32,084 | +19.8% |
| Equity | 10/15 | €134,996 | €175,279 | +€40,283 | +29.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €113,560 | €153,560 | +€40,000 | +35.2% |
| Distributable reserves | 133 | €113,560 | €153,560 | +€40,000 | +35.2% |
| Profit (loss) carried forward | 14 | €15,236 | €15,519 | +€283 | +1.9% |
| Amounts payable | 17/49 | €26,729 | €18,529 | -€8,199 | -30.7% |
| Amounts payable within one year | 42/48 | €25,877 | €17,732 | -€8,145 | -31.5% |
| Trade debts | 44 | - | €400 | +€400 | |
| Suppliers | 440/4 | - | €400 | +€400 | |
| Taxes, remuneration and social security | 45 | €4,170 | €5,770 | +€1,600 | +38.4% |
| Taxes | 450/3 | €4,170 | €5,770 | +€1,600 | +38.4% |
| Other amounts payable | 47/48 | €21,707 | €11,562 | -€10,145 | -46.7% |
| Accrued charges and deferred income | 492/3 | €851 | €797 | -€54 | -6.3% |
| Other operating charges | 640/8 | €698 | €649 | -€49 | -7.0% |
| Non-recurring operating charges | 66A | €4,608 | - | -€4,608 | |
| Gross operating margin | 9900 | -€2,374 | -€3,453 | -€1,079 | -45.5% |
| Operating profit (loss) | 9901 | -€7,680 | -€4,103 | +€3,577 | +46.6% |
| Financial income | 75/76B | €29,600 | €49,333 | +€19,733 | +66.7% |
| Recurring financial income | 75 | €29,600 | €49,333 | +€19,733 | +66.7% |
| Financial charges | 65/66B | €1,029 | €947 | -€81 | -7.9% |
| Recurring financial charges | 65 | €1,029 | €947 | -€81 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €20,891 | €44,283 | +€23,392 | +112% |
| Income taxes | 67/77 | €3,170 | €4,000 | +€830 | +26.2% |
| Profit (loss) for the period | 9904 | €17,721 | €40,283 | +€22,562 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €17,721 | €40,283 | +€22,562 | +127% |
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 24 October 2026 via checked.be.