P.C.: 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.
P.C.
Largest movements
- Cash -€55,719
down €55,719 (-50.8%), from €109,706 to €53,987
mainly Other debts (-€47,853) and Tax, wage and social debts (-€40,587)
- Receivables within one year +€19,504
up €19,504 (+27.3%), from €71,361 to €90,865
of which Other amounts receivable: +€25,570
- Tangible fixed assets +€18,120
up €18,120 (+78.4%), from €23,119 to €41,240
of which Other tangible fixed assets: +€14,122
- Deferred charges and accrued income -€5,814
down €5,814 (-62.7%), from €9,274 to €3,461
- Trade debts +€58,357
up €58,357 (+589.3%), from €9,903 to €68,260
- Other debts -€47,853
down €47,853 (-35.5%), from €134,634 to €86,782
- Tax, wage and social debts -€40,587
down €40,587 (-82.3%), from €49,302 to €8,715
- Accrued charges and deferred income +€3,818
new in 2025: €3,818
- Reserves +€2,357
up €2,357 (+220.0%), from €1,071 to €3,429
- Gross operating margin -€84,432
down €84,432 (-50.3%), from €167,764 to €83,332
- Taxes -€51,623
down €51,623 (-78.2%), from €66,053 to €14,430
- Other operating charges -€9,440
down €9,440 (-73.1%), from €12,916 to €3,475
- Depreciation -€3,856
down €3,856 (-78.3%), from €4,928 to €1,072
- Financial charges +€2,212
up €2,212 (+58.5%), from €3,785 to €5,997
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.
Cash bridge derived
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 | €213,461 | €189,553 | -€23,908 | -11.2% |
| Fixed assets | 21/28 | €23,119 | €41,240 | +€18,120 | +78.4% |
| Tangible fixed assets | 22/27 | €23,119 | €41,240 | +€18,120 | +78.4% |
| Plant, machinery and equipment | 23 | €790 | €460 | -€330 | -41.8% |
| Furniture and vehicles | 24 | €1,329 | €5,658 | +€4,329 | +325.7% |
| Other tangible fixed assets | 26 | €21,000 | €35,122 | +€14,122 | +67.2% |
| Current assets | 29/58 | €190,341 | €148,313 | -€42,028 | -22.1% |
| Amounts receivable within one year | 40/41 | €71,361 | €90,865 | +€19,504 | +27.3% |
| Trade receivables | 40 | €69,423 | €63,358 | -€6,066 | -8.7% |
| Other amounts receivable | 41 | €1,938 | €27,507 | +€25,570 | +1319.6% |
| Cash at bank and in hand | 54/58 | €109,706 | €53,987 | -€55,719 | -50.8% |
| Deferred charges and accrued income | 490/1 | €9,274 | €3,461 | -€5,814 | -62.7% |
| Total equity and liabilities | 10/49 | €213,461 | €189,553 | -€23,908 | -11.2% |
| Equity | 10/15 | €19,621 | €21,979 | +€2,357 | +12.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,071 | €3,429 | +€2,357 | +220.0% |
| Distributable reserves | 133 | €1,071 | €3,429 | +€2,357 | +220.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €193,839 | €167,574 | -€26,265 | -13.6% |
| Amounts payable within one year | 42/48 | €193,839 | €163,756 | -€30,083 | -15.5% |
| Trade debts | 44 | €9,903 | €68,260 | +€58,357 | +589.3% |
| Suppliers | 440/4 | €9,903 | €68,260 | +€58,357 | +589.3% |
| Taxes, remuneration and social security | 45 | €49,302 | €8,715 | -€40,587 | -82.3% |
| Taxes | 450/3 | €49,302 | €8,715 | -€40,587 | -82.3% |
| Other amounts payable | 47/48 | €134,634 | €86,782 | -€47,853 | -35.5% |
| Accrued charges and deferred income | 492/3 | - | €3,818 | +€3,818 | |
| Non-recurring operating income | 76A | €52,896 | €0 | -€52,896 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,928 | €1,072 | -€3,856 | -78.3% |
| Other operating charges | 640/8 | €12,916 | €3,475 | -€9,440 | -73.1% |
| Non-recurring operating charges | 66A | €0 | €21,000 | +€21,000 | |
| Gross operating margin | 9900 | €167,764 | €83,332 | -€84,432 | -50.3% |
| Operating profit (loss) | 9901 | €149,920 | €57,785 | -€92,135 | -61.5% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100.0% |
| Financial charges | 65/66B | €3,785 | €5,997 | +€2,212 | +58.5% |
| Recurring financial charges | 65 | €3,785 | €5,997 | +€2,212 | +58.5% |
| Profit (loss) for the period before taxes | 9903 | €146,139 | €51,788 | -€94,351 | -64.6% |
| Income taxes | 67/77 | €66,053 | €14,430 | -€51,623 | -78.2% |
| Profit (loss) for the period | 9904 | €80,085 | €37,357 | -€42,728 | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €80,085 | €37,357 | -€42,728 | -53.4% |
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 12 October 2026 via checked.be.