PARTICON: 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.
PARTICON
Largest movements
- Receivables within one year +€7,503
up €7,503 (+6.4%), from €116,613 to €124,116
of which Other amounts receivable: +€38,813
- Cash +€5,423
up €5,423 (+9.0%), from €60,448 to €65,871
mainly Net result for the year (+€42,063) and Trade debts (+€3,008)
- Reserves +€42,063
up €42,063 (+17.0%), from €248,048 to €290,111
of which Distributable reserves: +€42,063
- Other debts -€21,883
down €21,883 (-60.8%), from €36,000 to €14,117
- Tax, wage and social debts -€11,291
down €11,291 (-29.3%), from €38,601 to €27,310
- Gross operating margin -€13,356
down €13,356 (-17.1%), from €77,939 to €64,583
- Depreciation -€9,308
down €9,308 (-78.4%), from €11,870 to €2,562
- Taxes +€2,489
up €2,489 (+13.4%), from €18,522 to €21,011
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 | €343,488 | €355,792 | +€12,304 | +3.6% |
| Fixed assets | 21/28 | €162,422 | €162,490 | +€67 | 0.0% |
| Tangible fixed assets | 22/27 | €23,700 | €23,768 | +€67 | +0.3% |
| Land and buildings | 22 | €1,345 | €897 | -€448 | -33.3% |
| Furniture and vehicles | 24 | €22,355 | €22,871 | +€516 | +2.3% |
| Financial fixed assets | 28 | €138,722 | €138,722 | = | 0.0% |
| Current assets | 29/58 | €181,066 | €193,303 | +€12,237 | +6.8% |
| Amounts receivable within one year | 40/41 | €116,613 | €124,116 | +€7,503 | +6.4% |
| Trade receivables | 40 | €46,328 | €15,018 | -€31,310 | -67.6% |
| Other amounts receivable | 41 | €70,285 | €109,097 | +€38,813 | +55.2% |
| Cash at bank and in hand | 54/58 | €60,448 | €65,871 | +€5,423 | +9.0% |
| Deferred charges and accrued income | 490/1 | €4,005 | €3,315 | -€689 | -17.2% |
| Total equity and liabilities | 10/49 | €343,488 | €355,792 | +€12,304 | +3.6% |
| Equity | 10/15 | €268,048 | €310,111 | +€42,063 | +15.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €248,048 | €290,111 | +€42,063 | +17.0% |
| Tax-exempt reserves | 132 | €8,033 | €8,033 | = | 0.0% |
| Distributable reserves | 133 | €240,015 | €282,078 | +€42,063 | +17.5% |
| Amounts payable | 17/49 | €75,440 | €45,681 | -€29,759 | -39.4% |
| Amounts payable within one year | 42/48 | €75,393 | €45,227 | -€30,167 | -40.0% |
| Trade debts | 44 | €792 | €3,799 | +€3,008 | +379.9% |
| Suppliers | 440/4 | €792 | €3,799 | +€3,008 | +379.9% |
| Taxes, remuneration and social security | 45 | €38,601 | €27,310 | -€11,291 | -29.3% |
| Taxes | 450/3 | €38,601 | €27,310 | -€11,291 | -29.3% |
| Other amounts payable | 47/48 | €36,000 | €14,117 | -€21,883 | -60.8% |
| Accrued charges and deferred income | 492/3 | €47 | €455 | +€408 | +867.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,870 | €2,562 | -€9,308 | -78.4% |
| Other operating charges | 640/8 | €1,230 | €1,227 | -€2 | -0.2% |
| Gross operating margin | 9900 | €77,939 | €64,583 | -€13,356 | -17.1% |
| Operating profit (loss) | 9901 | €64,839 | €60,793 | -€4,046 | -6.2% |
| Financial income | 75/76B | €3,184 | €2,406 | -€779 | -24.5% |
| Recurring financial income | 75 | €3,184 | €2,406 | -€779 | -24.5% |
| Financial charges | 65/66B | €146 | €125 | -€21 | -14.3% |
| Recurring financial charges | 65 | €146 | €125 | -€21 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €67,877 | €63,074 | -€4,804 | -7.1% |
| Income taxes | 67/77 | €18,522 | €21,011 | +€2,489 | +13.4% |
| Profit (loss) for the period | 9904 | €49,355 | €42,063 | -€7,292 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €49,355 | €42,063 | -€7,292 | -14.8% |
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 8 October 2026 via checked.be.