PM-Force: what changed
PM-Force
Largest movements
- Cash -€71,391
down €71,391 (-68.0%), from €105,059 to €33,668
mainly Contributions, distributions and other (-€82,621) and Current investments (-€59,240)
- Current investments +€59,240
up €59,240 (+14.6%), from €406,295 to €465,535
- Receivables within one year -€49,820
down €49,820 (-84.7%), from €58,826 to €9,005
of which Other amounts receivable: -€30,460
- Reserves -€42,500
down €42,500 (-18.0%), from €235,487 to €192,987
- Debts after one year -€14,314
down €14,314 (-74.8%), from €19,128 to €4,814
- Tax, wage and social debts -€9,688
no longer reported in 2025 (was €9,688)
- Trade debts +€9,646
up €9,646 (+2,249%), from €429 to €10,075
- Gross operating margin +€66,791
up €66,791 (+6,201%), from €1,077 to €67,869
- Taxes +€19,334
up €19,334 (+897%), from €2,154 to €21,488
- Financial charges -€18,844
down €18,844 (-88.0%), from €21,421 to €2,577
- Other operating charges -€756
down €756 (-26.2%), from €2,886 to €2,130
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €612,457 | €550,092 | -€62,365 | -10.2% |
| Fixed assets | 21/28 | €39,454 | €38,914 | -€539 | -1.4% |
| Tangible fixed assets | 22/27 | €39,454 | €38,914 | -€539 | -1.4% |
| Land and buildings | 22 | €836 | €476 | -€359 | -43.0% |
| Furniture and vehicles | 24 | €38,618 | €22,946 | -€15,672 | -40.6% |
| Other tangible fixed assets | 26 | - | €15,492 | +€15,492 | |
| Current assets | 29/58 | €573,004 | €511,178 | -€61,826 | -10.8% |
| Amounts receivable within one year | 40/41 | €58,826 | €9,005 | -€49,820 | -84.7% |
| Trade receivables | 40 | €19,360 | - | -€19,360 | |
| Other amounts receivable | 41 | €39,466 | €9,005 | -€30,460 | -77.2% |
| Current investments | 50/53 | €406,295 | €465,535 | +€59,240 | +14.6% |
| Cash at bank and in hand | 54/58 | €105,059 | €33,668 | -€71,391 | -68.0% |
| Deferred charges and accrued income | 490/1 | €2,824 | €2,969 | +€145 | +5.1% |
| Total equity and liabilities | 10/49 | €612,457 | €550,092 | -€62,365 | -10.2% |
| Equity | 10/15 | €561,910 | €519,411 | -€42,500 | -7.6% |
| Contributions | 10/11 | €102,400 | €102,400 | = | 0.0% |
| Reserves | 13 | €235,487 | €192,987 | -€42,500 | -18.0% |
| Distributable reserves | 133 | €235,487 | €192,987 | -€42,500 | -18.0% |
| Profit (loss) carried forward | 14 | €224,023 | €224,023 | = | 0.0% |
| Amounts payable | 17/49 | €50,547 | €30,682 | -€19,866 | -39.3% |
| Amounts payable after more than one year | 17 | €19,128 | €4,814 | -€14,314 | -74.8% |
| Financial debts | 170/4 | €19,128 | €4,814 | -€14,314 | -74.8% |
| Amounts payable within one year | 42/48 | €31,419 | €25,868 | -€5,552 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €14,123 | €14,314 | +€191 | +1.3% |
| Trade debts | 44 | €429 | €10,075 | +€9,646 | +2,249% |
| Suppliers | 440/4 | €429 | €10,075 | +€9,646 | +2,249% |
| Taxes, remuneration and social security | 45 | €9,688 | - | -€9,688 | |
| Taxes | 450/3 | €9,688 | - | -€9,688 | |
| Other amounts payable | 47/48 | €7,179 | €1,479 | -€5,700 | -79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,161 | €18,333 | +€171 | +0.9% |
| Other operating charges | 640/8 | €2,886 | €2,130 | -€756 | -26.2% |
| Gross operating margin | 9900 | €1,077 | €67,869 | +€66,791 | +6,201% |
| Operating profit (loss) | 9901 | -€19,970 | €47,406 | +€67,376 | |
| Financial income | 75/76B | €17,287 | €16,780 | -€507 | -2.9% |
| Recurring financial income | 75 | €17,287 | €16,780 | -€507 | -2.9% |
| Financial charges | 65/66B | €21,421 | €2,577 | -€18,844 | -88.0% |
| Recurring financial charges | 65 | €21,421 | €2,577 | -€18,844 | -88.0% |
| Profit (loss) for the period before taxes | 9903 | -€24,104 | €61,610 | +€85,713 | |
| Income taxes | 67/77 | €2,154 | €21,488 | +€19,334 | +897% |
| Profit (loss) for the period | 9904 | -€26,258 | €40,121 | +€66,379 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,258 | €40,121 | +€66,379 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.