P.C.N.: 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.N.
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Cash -€120,629
down €120,629 (-39.5%), from €305,320 to €184,691
mainly Current investments (-€150,000) and Debts after one year (-€54,081)
- Tangible fixed assets -€31,157
down €31,157 (-7.4%), from €419,716 to €388,559
of which Plant, machinery and equipment: -€18,202
- Receivables within one year +€12,180
up €12,180 (+646%), from €1,884 to €14,064
of which Trade receivables: +€11,630
- Profit (loss) carried forward +€80,608
up €80,608 (+70.5%), from €114,314 to €194,922
- Debts after one year -€54,081
down €54,081 (-15.5%), from €349,393 to €295,312
- Trade debts -€14,379
down €14,379 (-44.4%), from €32,400 to €18,021
- Gross operating margin -€21,708
down €21,708 (-6.9%), from €314,578 to €292,870
- Taxes +€15,163
new in 2025: €15,163
- Staff costs +€10,447
up €10,447 (+9.6%), from €108,957 to €119,404
- Depreciation +€4,901
up €4,901 (+8.0%), from €61,557 to €66,458
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 | €765,770 | €775,668 | +€9,898 | +1.3% |
| Fixed assets | 21/28 | €420,716 | €388,559 | -€32,157 | -7.6% |
| Tangible fixed assets | 22/27 | €419,716 | €388,559 | -€31,157 | -7.4% |
| Plant, machinery and equipment | 23 | €138,330 | €120,128 | -€18,202 | -13.2% |
| Furniture and vehicles | 24 | €27,037 | €17,853 | -€9,184 | -34.0% |
| Other tangible fixed assets | 26 | €254,349 | €250,578 | -€3,771 | -1.5% |
| Financial fixed assets | 28 | €1,000 | - | -€1,000 | |
| Current assets | 29/58 | €345,054 | €387,109 | +€42,055 | +12.2% |
| Stocks and contracts in progress | 3 | €36,103 | €37,848 | +€1,745 | +4.8% |
| Stocks | 30/36 | €36,103 | €37,848 | +€1,745 | +4.8% |
| Amounts receivable within one year | 40/41 | €1,884 | €14,064 | +€12,180 | +646% |
| Trade receivables | 40 | €1,845 | €13,475 | +€11,630 | +630% |
| Other amounts receivable | 41 | €39 | €589 | +€550 | +1,410% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €305,320 | €184,691 | -€120,629 | -39.5% |
| Deferred charges and accrued income | 490/1 | €1,747 | €506 | -€1,241 | -71.0% |
| Total equity and liabilities | 10/49 | €765,770 | €775,668 | +€9,898 | +1.3% |
| Equity | 10/15 | €314,314 | €394,922 | +€80,608 | +25.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,314 | €194,922 | +€80,608 | +70.5% |
| Amounts payable | 17/49 | €451,456 | €380,746 | -€70,710 | -15.7% |
| Amounts payable after more than one year | 17 | €349,393 | €295,312 | -€54,081 | -15.5% |
| Financial debts | 170/4 | €349,393 | €295,312 | -€54,081 | -15.5% |
| Amounts payable within one year | 42/48 | €101,403 | €85,434 | -€15,969 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €52,845 | €54,081 | +€1,236 | +2.3% |
| Trade debts | 44 | €32,400 | €18,021 | -€14,379 | -44.4% |
| Suppliers | 440/4 | €32,400 | €18,021 | -€14,379 | -44.4% |
| Taxes, remuneration and social security | 45 | €16,158 | €13,332 | -€2,826 | -17.5% |
| Taxes | 450/3 | €7,935 | €232 | -€7,703 | -97.1% |
| Remuneration and social security | 454/9 | €8,223 | €13,100 | +€4,877 | +59.3% |
| Accrued charges and deferred income | 492/3 | €660 | - | -€660 | |
| Remuneration, social security and pensions | 62 | €108,957 | €119,404 | +€10,447 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,557 | €66,458 | +€4,901 | +8.0% |
| Other operating charges | 640/8 | €950 | €1,108 | +€158 | +16.6% |
| Gross operating margin | 9900 | €314,578 | €292,870 | -€21,708 | -6.9% |
| Operating profit (loss) | 9901 | €143,114 | €105,900 | -€37,214 | -26.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €11,378 | €10,130 | -€1,248 | -11.0% |
| Recurring financial charges | 65 | €11,378 | €10,130 | -€1,248 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €131,736 | €95,771 | -€35,965 | -27.3% |
| Income taxes | 67/77 | - | €15,163 | +€15,163 | |
| Profit (loss) for the period | 9904 | €131,736 | €80,608 | -€51,128 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €131,736 | €80,608 | -€51,128 | -38.8% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.