P&CO HOLDING: 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&CO HOLDING
Largest movements
- Receivables within one year +€108,907
up €108,907 (+91.4%), from €119,172 to €228,078
of which Other amounts receivable: +€79,828
- Financial fixed assets -€101,988
down €101,988 (-1.5%), from €6.9m to €6.8m
- Debts after one year -€626,773
down €626,773 (-33.0%), from €1.9m to €1.3m
- Profit (loss) carried forward +€600,022
up €600,022 (+22.5%), from €2.7m to €3.3m
- Write-downs +€100,000
new in 2025: €100,000
- Financial charges +€92,738
up €92,738 (+108%), from €85,517 to €178,255
of which Non-recurring financial charges: +€101,988
- Financial income +€49,598
up €49,598 (+7.1%), from €700,402 to €750,000
- Gross operating margin +€26,998
up €26,998 (+26.4%), from €102,277 to €129,275
- Taxes -€4,139
down €4,139 (-100%), from €4,139 to €0
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 | €6,993,613 | €6,995,490 | +€1,878 | 0.0% |
| Fixed assets | 21/28 | €6,851,988 | €6,750,000 | -€101,988 | -1.5% |
| Financial fixed assets | 28 | €6,851,988 | €6,750,000 | -€101,988 | -1.5% |
| Current assets | 29/58 | €141,625 | €245,490 | +€103,865 | +73.3% |
| Amounts receivable within one year | 40/41 | €119,172 | €228,078 | +€108,907 | +91.4% |
| Trade receivables | 40 | €0 | €29,078 | +€29,078 | |
| Other amounts receivable | 41 | €119,172 | €199,000 | +€79,828 | +67.0% |
| Cash at bank and in hand | 54/58 | €22,453 | €16,569 | -€5,885 | -26.2% |
| Deferred charges and accrued income | 490/1 | €0 | €843 | +€843 | |
| Total equity and liabilities | 10/49 | €6,993,613 | €6,995,490 | +€1,878 | 0.0% |
| Equity | 10/15 | €4,320,198 | €4,920,220 | +€600,022 | +13.9% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €150,000 | €150,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €150,000 | €150,000 | = | 0.0% |
| Legal reserve | 130 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,670,198 | €3,270,220 | +€600,022 | +22.5% |
| Amounts payable | 17/49 | €2,673,415 | €2,075,271 | -€598,144 | -22.4% |
| Amounts payable after more than one year | 17 | €1,898,937 | €1,272,164 | -€626,773 | -33.0% |
| Financial debts | 170/4 | €1,898,937 | €1,272,164 | -€626,773 | -33.0% |
| Amounts payable within one year | 42/48 | €773,359 | €802,954 | +€29,595 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €732,617 | €775,535 | +€42,917 | +5.9% |
| Trade debts | 44 | €11,172 | €13,287 | +€2,115 | +18.9% |
| Suppliers | 440/4 | €11,172 | €13,287 | +€2,115 | +18.9% |
| Taxes, remuneration and social security | 45 | €9,318 | €14,133 | +€4,815 | +51.7% |
| Taxes | 450/3 | €9,318 | €14,133 | +€4,815 | +51.7% |
| Other amounts payable | 47/48 | €20,252 | €0 | -€20,252 | -100% |
| Accrued charges and deferred income | 492/3 | €1,119 | €153 | -€966 | -86.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €100,000 | +€100,000 | |
| Other operating charges | 640/8 | €1,053 | €998 | -€54 | -5.2% |
| Gross operating margin | 9900 | €102,277 | €129,275 | +€26,998 | +26.4% |
| Operating profit (loss) | 9901 | €101,224 | €28,277 | -€72,947 | -72.1% |
| Financial income | 75/76B | €700,402 | €750,000 | +€49,598 | +7.1% |
| Recurring financial income | 75 | €700,402 | €750,000 | +€49,598 | +7.1% |
| Financial charges | 65/66B | €85,517 | €178,255 | +€92,738 | +108% |
| Recurring financial charges | 65 | €85,517 | €76,268 | -€9,250 | -10.8% |
| Non-recurring financial charges | 66B | - | €101,988 | +€101,988 | |
| Profit (loss) for the period before taxes | 9903 | €716,109 | €600,022 | -€116,087 | -16.2% |
| Income taxes | 67/77 | €4,139 | €0 | -€4,139 | -100% |
| Profit (loss) for the period | 9904 | €711,970 | €600,022 | -€111,949 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €711,970 | €600,022 | -€111,949 | -15.7% |
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 31 October 2026 via checked.be.