P&CO IMMO3: what changed
Two fiscal 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 IMMO3
Largest movements
- Receivables within one year +€57,500
new in 2025: €57,500
- Tangible fixed assets +€8,790
up €8,790 (+3.0%), from €294,463 to €303,253
of which Assets under construction and advance payments: +€28,760
- Cash -€5,782
down €5,782 (-67.5%), from €8,561 to €2,779
mainly Receivables within one year (-€57,500) and Investment in fixed assets (net) (-€28,760)
- Contributions +€57,500
up €57,500 (+2300.0%), from €2,500 to €60,000
- Debts after one year -€22,822
down €22,822 (-10.0%), from €228,401 to €205,579
- Other debts +€22,228
up €22,228 (+61.0%), from €36,416 to €58,644
- Trade debts +€11,647
new in 2025: €11,647
- Gross operating margin -€4,571
down €4,571 (-13.8%), from €33,241 to €28,670
- Write-downs +€1,271
up €1,271, from -€1,271 to €0
- Taxes -€1,106
down €1,106 (-100.0%), from €1,106 to €0
- Financial charges +€1,095
up €1,095 (+20.8%), from €5,255 to €6,350
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 | €303,024 | €364,660 | +€61,636 | +20.3% |
| Fixed assets | 21/28 | €294,463 | €303,253 | +€8,790 | +3.0% |
| Tangible fixed assets | 22/27 | €294,463 | €303,253 | +€8,790 | +3.0% |
| Land and buildings | 22 | €293,775 | €274,349 | -€19,426 | -6.6% |
| Plant, machinery and equipment | 23 | €687 | €143 | -€544 | -79.2% |
| Assets under construction and advance payments | 27 | - | €28,760 | +€28,760 | |
| Current assets | 29/58 | €8,561 | €61,407 | +€52,846 | +617.3% |
| Amounts receivable within one year | 40/41 | - | €57,500 | +€57,500 | |
| Other amounts receivable | 41 | - | €57,500 | +€57,500 | |
| Cash at bank and in hand | 54/58 | €8,561 | €2,779 | -€5,782 | -67.5% |
| Deferred charges and accrued income | 490/1 | - | €1,128 | +€1,128 | |
| Total equity and liabilities | 10/49 | €303,024 | €364,660 | +€61,636 | +20.3% |
| Equity | 10/15 | €8,904 | €63,510 | +€54,606 | +613.3% |
| Contributions | 10/11 | €2,500 | €60,000 | +€57,500 | +2300.0% |
| Profit (loss) carried forward | 14 | €6,404 | €3,510 | -€2,895 | -45.2% |
| Amounts payable | 17/49 | €294,120 | €301,150 | +€7,031 | +2.4% |
| Amounts payable after more than one year | 17 | €228,401 | €205,579 | -€22,822 | -10.0% |
| Financial debts | 170/4 | €228,401 | €205,579 | -€22,822 | -10.0% |
| Amounts payable within one year | 42/48 | €62,543 | €95,001 | +€32,458 | +51.9% |
| Current portion of amounts payable after more than one year | 42 | €24,359 | €24,709 | +€351 | +1.4% |
| Trade debts | 44 | - | €11,647 | +€11,647 | |
| Suppliers | 440/4 | - | €11,647 | +€11,647 | |
| Taxes, remuneration and social security | 45 | €1,768 | €0 | -€1,768 | -100.0% |
| Taxes | 450/3 | €1,768 | €0 | -€1,768 | -100.0% |
| Other amounts payable | 47/48 | €36,416 | €58,644 | +€22,228 | +61.0% |
| Accrued charges and deferred income | 492/3 | €3,176 | €571 | -€2,605 | -82.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,067 | €19,970 | -€97 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,271 | €0 | +€1,271 | |
| Other operating charges | 640/8 | €5,133 | €5,245 | +€112 | +2.2% |
| Gross operating margin | 9900 | €33,241 | €28,670 | -€4,571 | -13.8% |
| Operating profit (loss) | 9901 | €9,312 | €3,455 | -€5,857 | -62.9% |
| Financial charges | 65/66B | €5,255 | €6,350 | +€1,095 | +20.8% |
| Recurring financial charges | 65 | €5,255 | €6,350 | +€1,095 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €4,057 | -€2,895 | -€6,952 | |
| Income taxes | 67/77 | €1,106 | €0 | -€1,106 | -100.0% |
| Profit (loss) for the period | 9904 | €2,952 | -€2,895 | -€5,846 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,952 | -€2,895 | -€5,846 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.