PXLB: what changed
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
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 | €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% |
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 2 November 2026 via checked.be.