At the start of the financial year, the Company had a liquidity position of €48 thousand. To support working capital requirements, Handelsbanken provided an unsecured revolving credit facility of €300 thousand which was increased to €700 thousand during the financial year.
Key DevelopmentsNo dividend was received from Bovemij in 2025 (2024: nil). Certificates of shares in the capital of Bovemij N.V. were written down from €32.27 to €31.31. The Company holds 515 thousand certificates.
Other operating expenses rose to €381 thousand (2024: €253 thousand), driven by legal and advisory costs related to the public offer by Nafimij B.V.
Outlook PB Holding continues to focus on maximizing sustainable long-term value creation to all stakeholders and does not anticipate to declare dividends. It is committed to developing and communicating a New Strategy in the second half of 2026. Subsequent EventsOn 8 January 2026, Vereniging BOVAG and ASR Nederland N.V. announced the conditional transaction under which, upon closing, the Company will receive €40.00 per certificate of share.
On 23 February 2026 and 2 March 2026, shareholders of the Company and depositary receipt holders, respectively, approved the conditional transaction
PB Holding N.V. will separately convene its Annual General Meeting of Shareholders on 11 June 2026. The agenda, the convocation notice and the accompanying documents, including the 2025 annual report, will be made available via the Company's website - https://www.pb-holding.nl .
Financial CalendarThe financial calendar is as follows:
Publication of 2025 annual results 13 April 2026
Annual general meeting of Shareholders 11 June 2026
Publication of 2025 half-year results 31 July 2026
This press release is based on the prepared financial statements for 2025 to be approved by the Annual General Meeting of Shareholders on 11 June 2026.
PB Holding N.V.
13 April 2026
This press release contains inside information relating to PB Holding N.V. within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Company Financial Statements
Company Statement of IncomePB Holding N.V. (in € thousands) | 2025 | 2024 |
Revenues | - | - |
Value changes of financial fixed assets | (494) | - |
Personnel expenses | (126) | (128) |
Other operating expenses | (381) | (253) |
Operating profit (EBIT) | (1,002) | (381) |
Financial income and expenses | (14) | (3) |
Profit before taxes | (1,015) | (384) |
Taxes | - | - |
Profit after taxes | (384) | |
Earnings per share (in €) | ||
Basic | (0.19) | (0.07) |
Diluted | (0.19) | (0.07) |
as at 31 December | ||
(in € thousands) | 31.12.2025 | 31.12.2024 |
Profit after taxes | (1,015) | (384) |
Other comprehensive income (OCI) | ||
OCI to be reclassified to profit or loss in subsequent periods Income tax effect | - | - |
Income and expenses not realized in the income statement | - | - |
Total realized and unrealized results after-tax | (1,015) | (384) |
Total result attributable to Continuing operations | (1,015) | (384) |
Discontinuing operations | - | - |
Total result | (1,015) | (384) |
PB Holding N.V. (in € thousands) | 31.12.2025 | 31.12.2024 |
Assets | ||
Non-current assets Other financial assets | 16,125 | 16,619 |
Current assets Other current assets | 17 | 43 |
Cash and cash equivalents | 31 | 48 |
48 | 91 | |
Total assets | 16,173 | 16,710 |
Equity and liabilities Share capital | 535 | 593 |
Share premium reserve | 32,448 | 32,448 |
Revaluation reserve | 7,793 | 8,287 |
Profit for the year | (1,015) | (384) |
Other reserves | (24,183) | (24,351) |
Total shareholders' equity | 15,578 | 16,593 |
Current liabilities Creditors | 52 | 72 |
Other liabilities | 146 | 45 |
Revolving loans and overdrafts | 397 | |
595 | 117 | |
Total equity and liabilities | 16,173 | 16,710 |
(in € thousands) | 2025 | 2024 |
Profit/(loss) before income tax | (1,015) | (384) |
Adjustments for: | ||
Result Bovemij N.V. | 494 | - |
Financial expenses | 14 | - |
Changes in working capital | ||
Movement in current assets | 27 | (9) |
Movement in accounts payable | 78 | 51 |
Cash flow from operating activities | (403) | (342) |
Cash flow from investing activities | - | - |
Proceeds from loan drawdown Dividends paid to shareholders | 397 | - - |
Repurchase of shares Interest paid | (11) | (212) |
Cash used for financing activities | 386 | (212) |
Cash at beginning of the year | 48 | 602 |
Change of cash | (17) | (554) |
Cash at end of the year | 31 | 48 |
as at 31 December
(in € thousands) | Share capital | Share premium | Other reserves | Revaluation reserves | Profit for the period | Total |
Balance at January 1, 2025 | 593 | 32,448 | (24,351) | 8,287 | (384) | 16,593 |
Profit after tax | (1,015) | (1,015) | ||||
Cancellation of 575'000 shares | (58) | 58 | ||||
Profit allocation | 111 | (494) | 384 | |||
Balance at December 31, 2025 | 535 | 32,448 | (24,183) | 7,793 | (1,015) | 15,578 |
Balance at January 1, 2024 | 593 | 32,448 | (24,164) | 10,877 | (2,565) | 17,189 |
Profit after tax | (384) | (384) | ||||
Profit allocation | 25 | (2,590) | 2,565 | - | ||
Share repurchases | (212) | (212) | ||||
Balance at December 31, 2024 | 593 | 32,448 | (24,351) | 8,287 | (384) | 16,593 |