P.C.A. IMMO: 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.A. IMMO
Largest movements
- Tangible fixed assets -€62,327
down €62,327 (-6.0%), from €1.0m to €978,763
of which Land and buildings: -€61,584
- Cash -€46,685
down €46,685 (-14.7%), from €318,520 to €271,835
mainly Other debts (-€110,205) and Debts after one year (-€55,454)
- Other debts -€110,205
down €110,205 (-14.3%), from €769,256 to €659,051
- Reserves +€62,166
up €62,166 (+41.9%), from €148,230 to €210,396
- Debts after one year -€55,454
down €55,454 (-21.8%), from €254,747 to €199,293
- Gross operating margin +€5,988
up €5,988 (+3.2%), from €189,673 to €195,661
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 | €1,367,452 | €1,253,551 | -€113,900 | -8.3% |
| Fixed assets | 21/28 | €1,041,140 | €978,813 | -€62,327 | -6.0% |
| Tangible fixed assets | 22/27 | €1,041,090 | €978,763 | -€62,327 | -6.0% |
| Land and buildings | 22 | €1,040,018 | €978,434 | -€61,584 | -5.9% |
| Furniture and vehicles | 24 | €1,072 | €329 | -€742 | -69.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €326,312 | €274,738 | -€51,574 | -15.8% |
| Amounts receivable within one year | 40/41 | €882 | €2,103 | +€1,221 | +138% |
| Trade receivables | 40 | €882 | €2,103 | +€1,221 | +138% |
| Cash at bank and in hand | 54/58 | €318,520 | €271,835 | -€46,685 | -14.7% |
| Deferred charges and accrued income | 490/1 | €6,910 | €800 | -€6,110 | -88.4% |
| Total equity and liabilities | 10/49 | €1,367,452 | €1,253,551 | -€113,900 | -8.3% |
| Equity | 10/15 | €218,405 | €280,571 | +€62,166 | +28.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €148,230 | €210,396 | +€62,166 | +41.9% |
| Distributable reserves | 133 | €148,230 | €210,396 | +€62,166 | +41.9% |
| Profit (loss) carried forward | 14 | €51,576 | €51,576 | = | 0.0% |
| Amounts payable | 17/49 | €1,149,046 | €972,980 | -€176,066 | -15.3% |
| Amounts payable after more than one year | 17 | €254,747 | €199,293 | -€55,454 | -21.8% |
| Financial debts | 170/4 | €254,747 | €199,293 | -€55,454 | -21.8% |
| Amounts payable within one year | 42/48 | €858,384 | €737,438 | -€120,946 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €60,120 | €60,618 | +€498 | +0.8% |
| Trade debts | 44 | €7,440 | €2,360 | -€5,079 | -68.3% |
| Suppliers | 440/4 | €7,440 | €2,360 | -€5,079 | -68.3% |
| Taxes, remuneration and social security | 45 | €21,569 | €15,409 | -€6,160 | -28.6% |
| Taxes | 450/3 | €15,343 | €8,977 | -€6,365 | -41.5% |
| Remuneration and social security | 454/9 | €6,226 | €6,432 | +€206 | +3.3% |
| Other amounts payable | 47/48 | €769,256 | €659,051 | -€110,205 | -14.3% |
| Accrued charges and deferred income | 492/3 | €35,915 | €36,249 | +€333 | +0.9% |
| Remuneration, social security and pensions | 62 | €23,245 | €24,371 | +€1,126 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,327 | €62,327 | +€0 | 0.0% |
| Other operating charges | 640/8 | €15,017 | €15,488 | +€472 | +3.1% |
| Gross operating margin | 9900 | €189,673 | €195,661 | +€5,988 | +3.2% |
| Operating profit (loss) | 9901 | €89,084 | €93,475 | +€4,391 | +4.9% |
| Financial income | 75/76B | - | €165 | +€165 | |
| Recurring financial income | 75 | - | €165 | +€165 | |
| Financial charges | 65/66B | €2,838 | €2,463 | -€375 | -13.2% |
| Recurring financial charges | 65 | €2,838 | €2,463 | -€375 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €86,247 | €91,177 | +€4,930 | +5.7% |
| Income taxes | 67/77 | €27,843 | €29,011 | +€1,168 | +4.2% |
| Profit (loss) for the period | 9904 | €58,404 | €62,166 | +€3,762 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €58,404 | €62,166 | +€3,762 | +6.4% |
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 27 October 2026 via checked.be.