P.C.H.: 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.
What changed
P.C.H.
NACE 47.742, Retail sale of prescription glasses, lenses and sunglasses
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€14,598
2024 · €12,415-€27,013
Equity
€1.1m
2024 · €1.1m-€14,598
Cash
€90,317
2024 · €210,726-€120,408
Balance sheet total
€1.8m
2024 · €2.0m-€160,607
Largest movements
Assets
- Cash -€120,408
down €120,408 (-57.1%), from €210,726 to €90,317
mainly Trade debts (-€129,598) and Other debts (-€32,502)
- Stocks and contracts -€57,322
down €57,322 (-3.7%), from €1.6m to €1.5m
- Receivables within one year +€25,435
up €25,435 (+15.4%), from €165,277 to €190,712
of which Trade receivables: +€13,349
Equity and liabilities
- Trade debts -€129,598
down €129,598 (-17.9%), from €725,493 to €595,895
- Other debts -€32,502
down €32,502 (-100%), from €32,502 to €0
Income statement
- Gross operating margin -€27,552
down €27,552 (-7.2%), from €380,119 to €352,567
- Write-downs +€13,965
up €13,965, from -€8,013 to €5,952
- Taxes -€6,257
down €6,257 (-98.5%), from €6,353 to €96
- Other operating charges -€5,887
down €5,887 (-81.7%), from €7,204 to €1,317
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.
Result 2024
€12,415
Gross operating margin
-€27,552
Staff costs
-€3,384
Depreciation
+€1,591
Write-downs
-€13,965
Other operating charges
+€5,887
Other operating items
+€7,540
Financial income
-€2,509
Financial charges
-€877
Taxes
+€6,257
Result 2025
-€14,598
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€104,842
Investment
-€1,898
Financing
-€13,669
Cash 2024
€210,726
From operations (derived)
-€104,842
Net result for the year
-€14,598
Depreciation
+€4,492
Stocks and contracts
+€57,322
Receivables within one year
-€25,435
Deferred charges and accrued income
+€5,717
Trade debts
-€129,598
Tax, wage and social debts
+€16,760
Other debts
-€32,502
Accrued charges and deferred income
+€13,000
Investment (derived)
-€1,898
Investment in fixed assets (net)
-€1,898
Financing
-€13,669
Short-term financial debts
-€13,669
Cash 2025
€90,317
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,005,762 | €1,845,156 | -€160,607 | -8.0% |
| Fixed assets | 21/28 | €15,289 | €12,694 | -€2,595 | -17.0% |
| Intangible fixed assets | 21 | €1,890 | €123 | -€1,768 | -93.5% |
| Tangible fixed assets | 22/27 | €13,398 | €12,571 | -€827 | -6.2% |
| Plant, machinery and equipment | 23 | €0 | €1,728 | +€1,728 | |
| Furniture and vehicles | 24 | €2,487 | €1,149 | -€1,338 | -53.8% |
| Other tangible fixed assets | 26 | €10,911 | €9,694 | -€1,217 | -11.2% |
| Current assets | 29/58 | €1,990,474 | €1,832,462 | -€158,012 | -7.9% |
| Stocks and contracts in progress | 3 | €1,564,093 | €1,506,771 | -€57,322 | -3.7% |
| Stocks | 30/36 | €1,564,093 | €1,506,771 | -€57,322 | -3.7% |
| Amounts receivable within one year | 40/41 | €165,277 | €190,712 | +€25,435 | +15.4% |
| Trade receivables | 40 | €156,020 | €169,369 | +€13,349 | +8.6% |
| Other amounts receivable | 41 | €9,257 | €21,343 | +€12,086 | +131% |
| Cash at bank and in hand | 54/58 | €210,726 | €90,317 | -€120,408 | -57.1% |
| Deferred charges and accrued income | 490/1 | €50,378 | €44,661 | -€5,717 | -11.3% |
| Total equity and liabilities | 10/49 | €2,005,762 | €1,845,156 | -€160,607 | -8.0% |
| Equity | 10/15 | €1,111,287 | €1,096,690 | -€14,598 | -1.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,080,280 | €1,080,280 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,078,421 | €1,078,421 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,415 | -€2,182 | -€14,598 | |
| Amounts payable | 17/49 | €894,475 | €748,466 | -€146,009 | -16.3% |
| Amounts payable within one year | 42/48 | €889,675 | €730,666 | -€159,009 | -17.9% |
| Financial debts | 43 | €42,028 | €28,359 | -€13,669 | -32.5% |
| Credit institutions | 430/8 | €42,028 | €28,359 | -€13,669 | -32.5% |
| Trade debts | 44 | €725,493 | €595,895 | -€129,598 | -17.9% |
| Suppliers | 440/4 | €725,493 | €595,895 | -€129,598 | -17.9% |
| Taxes, remuneration and social security | 45 | €89,652 | €106,413 | +€16,760 | +18.7% |
| Taxes | 450/3 | €45,798 | €48,887 | +€3,088 | +6.7% |
| Remuneration and social security | 454/9 | €43,854 | €57,526 | +€13,672 | +31.2% |
| Other amounts payable | 47/48 | €32,502 | €0 | -€32,502 | -100% |
| Accrued charges and deferred income | 492/3 | €4,800 | €17,800 | +€13,000 | +271% |
| Remuneration, social security and pensions | 62 | €350,404 | €353,787 | +€3,384 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,083 | €4,492 | -€1,591 | -26.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,013 | €5,952 | +€13,965 | |
| Other operating charges | 640/8 | €7,204 | €1,317 | -€5,887 | -81.7% |
| Non-recurring operating charges | 66A | €7,540 | €0 | -€7,540 | -100% |
| Gross operating margin | 9900 | €380,119 | €352,567 | -€27,552 | -7.2% |
| Operating profit (loss) | 9901 | €16,901 | -€12,982 | -€29,883 | |
| Financial income | 75/76B | €4,510 | €2,001 | -€2,509 | -55.6% |
| Recurring financial income | 75 | €4,510 | €2,001 | -€2,509 | -55.6% |
| Financial charges | 65/66B | €2,643 | €3,521 | +€877 | +33.2% |
| Recurring financial charges | 65 | €2,643 | €3,521 | +€877 | +33.2% |
| Profit (loss) for the period before taxes | 9903 | €18,768 | -€14,502 | -€33,270 | |
| Income taxes | 67/77 | €6,353 | €96 | -€6,257 | -98.5% |
| Profit (loss) for the period | 9904 | €12,415 | -€14,598 | -€27,013 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,415 | -€14,598 | -€27,013 |
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 14 October 2026 via checked.be.