P.K.M.C.: 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.K.M.C.
Largest movements
- Stocks and contracts -€170,000
down €170,000 (-26.4%), from €642,945 to €472,945
- Cash -€149,365
down €149,365 (-67.4%), from €221,632 to €72,267
mainly Debts after one year (-€303,618) and Investment in fixed assets (net) (-€122,000)
- Receivables within one year +€72,658
up €72,658 (+8.5%), from €856,955 to €929,612
of which Other amounts receivable: +€384,141
- Deferred charges and accrued income -€36,697
down €36,697 (-89.2%), from €41,121 to €4,424
- Debts after one year -€303,618
down €303,618 (-100%), from €303,618 to €0
- Other debts +€275,161
up €275,161 (+11.8%), from €2.3m to €2.6m
- Reserves -€100,790
down €100,790 (-37.3%), from €270,401 to €169,611
of which Tax-exempt reserves: -€100,790
- Current portion of long-term debt -€72,503
down €72,503 (-100%), from €72,503 to €0
- Gross operating margin -€193,737
down €193,737 (-95.9%), from €202,095 to €8,358
- Depreciation -€18,572
down €18,572 (-13.1%), from €142,050 to €123,479
- Other operating charges -€7,265
down €7,265 (-44.9%), from €16,187 to €8,922
- Financial income +€2,540
up €2,540 (+179%), from €1,422 to €3,962
- Financial charges -€2,142
down €2,142 (-15.8%), from €13,550 to €11,408
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 | €3,661,981 | €3,377,098 | -€284,883 | -7.8% |
| Fixed assets | 21/28 | €1,899,328 | €1,897,850 | -€1,479 | -0.1% |
| Tangible fixed assets | 22/27 | €1,899,328 | €1,897,850 | -€1,479 | -0.1% |
| Land and buildings | 22 | €1,831,686 | €1,734,200 | -€97,486 | -5.3% |
| Plant, machinery and equipment | 23 | €959 | €408 | -€551 | -57.4% |
| Furniture and vehicles | 24 | €30,543 | €132,712 | +€102,169 | +335% |
| Other tangible fixed assets | 26 | €36,141 | €30,530 | -€5,611 | -15.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,762,652 | €1,479,248 | -€283,404 | -16.1% |
| Stocks and contracts in progress | 3 | €642,945 | €472,945 | -€170,000 | -26.4% |
| Stocks | 30/36 | €642,945 | €472,945 | -€170,000 | -26.4% |
| Amounts receivable within one year | 40/41 | €856,955 | €929,612 | +€72,658 | +8.5% |
| Trade receivables | 40 | €313,841 | €2,358 | -€311,484 | -99.2% |
| Other amounts receivable | 41 | €543,113 | €927,255 | +€384,141 | +70.7% |
| Cash at bank and in hand | 54/58 | €221,632 | €72,267 | -€149,365 | -67.4% |
| Deferred charges and accrued income | 490/1 | €41,121 | €4,424 | -€36,697 | -89.2% |
| Total equity and liabilities | 10/49 | €3,661,981 | €3,377,098 | -€284,883 | -7.8% |
| Equity | 10/15 | €780,072 | €665,958 | -€114,113 | -14.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €270,401 | €169,611 | -€100,790 | -37.3% |
| Tax-exempt reserves | 132 | €268,546 | €167,756 | -€100,790 | -37.5% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €497,271 | €483,947 | -€13,324 | -2.7% |
| Provisions and deferred taxes | 16 | €73,916 | €56,254 | -€17,662 | -23.9% |
| Deferred taxes | 168 | €73,916 | €56,254 | -€17,662 | -23.9% |
| Amounts payable | 17/49 | €2,807,993 | €2,654,885 | -€153,108 | -5.5% |
| Amounts payable after more than one year | 17 | €303,618 | €0 | -€303,618 | -100% |
| Financial debts | 170/4 | €303,618 | €0 | -€303,618 | -100% |
| Amounts payable within one year | 42/48 | €2,503,480 | €2,653,951 | +€150,471 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €72,503 | €0 | -€72,503 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €52,754 | €33,865 | -€18,890 | -35.8% |
| Suppliers | 440/4 | €52,754 | €33,865 | -€18,890 | -35.8% |
| Taxes, remuneration and social security | 45 | €36,753 | €3,456 | -€33,297 | -90.6% |
| Taxes | 450/3 | €36,753 | €3,456 | -€33,297 | -90.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,341,470 | €2,616,630 | +€275,161 | +11.8% |
| Accrued charges and deferred income | 492/3 | €895 | €935 | +€40 | +4.4% |
| Non-recurring operating income | 76A | €222,150 | €0 | -€222,150 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,050 | €123,479 | -€18,572 | -13.1% |
| Other operating charges | 640/8 | €16,187 | €8,922 | -€7,265 | -44.9% |
| Non-recurring operating charges | 66A | €12,205 | €0 | -€12,205 | -100% |
| Gross operating margin | 9900 | €202,095 | €8,358 | -€193,737 | -95.9% |
| Operating profit (loss) | 9901 | €31,652 | -€124,043 | -€155,696 | |
| Financial income | 75/76B | €1,422 | €3,962 | +€2,540 | +179% |
| Recurring financial income | 75 | €1,422 | €3,962 | +€2,540 | +179% |
| Financial charges | 65/66B | €13,550 | €11,408 | -€2,142 | -15.8% |
| Recurring financial charges | 65 | €13,550 | €11,408 | -€2,142 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €19,524 | -€131,489 | -€151,013 | |
| Transfer from deferred taxes | 780 | €5,109 | €29,613 | +€24,504 | +480% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €252 | €287 | +€35 | +13.7% |
| Profit (loss) for the period | 9904 | €24,382 | -€102,162 | -€126,544 | |
| Transfer from tax-exempt reserves | 789 | €17,424 | €88,839 | +€71,415 | +410% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €41,805 | -€13,324 | -€55,129 |
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 23 October 2026 via checked.be.