PAYCORE: 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.
PAYCORE
Largest movements
- Financial fixed assets +€264,315
up €264,315 (+8854.8%), from €2,985 to €267,300
- Receivables within one year +€66,164
up €66,164 (+99.3%), from €66,629 to €132,793
of which Trade receivables: +€71,520
- Tangible fixed assets +€63,339
up €63,339 (+88.4%), from €71,680 to €135,020
of which Other tangible fixed assets: +€60,872
- Cash -€55,547
down €55,547 (-45.2%), from €122,802 to €67,254
mainly Investment in fixed assets (net) (-€356,480) and Receivables within one year (-€66,164)
- Deferred charges and accrued income +€8,543
up €8,543 (+98.7%), from €8,654 to €17,198
- Debts after one year +€174,240
up €174,240 (+563.6%), from €30,915 to €205,154
- Profit (loss) carried forward +€112,011
up €112,011 (+134.8%), from €83,125 to €195,136
- Current portion of long-term debt +€48,676
up €48,676 (+232.7%), from €20,922 to €69,598
- Trade debts +€28,991
up €28,991 (+340.5%), from €8,514 to €37,505
- Tax, wage and social debts -€20,250
down €20,250 (-29.3%), from €69,087 to €48,837
of which Taxes: -€28,096
- Gross operating margin +€30,024
up €30,024 (+8.6%), from €347,951 to €377,975
- Taxes +€9,190
up €9,190 (+37.9%), from €24,247 to €33,437
- Financial charges +€4,366
up €4,366 (+123.5%), from €3,535 to €7,900
- Depreciation +€4,277
up €4,277 (+21.0%), from €20,365 to €24,641
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 | €272,751 | €623,750 | +€350,999 | +128.7% |
| Fixed assets | 21/28 | €74,665 | €406,504 | +€331,839 | +444.4% |
| Intangible fixed assets | 21 | - | €4,185 | +€4,185 | |
| Tangible fixed assets | 22/27 | €71,680 | €135,020 | +€63,339 | +88.4% |
| Plant, machinery and equipment | 23 | €3,702 | €24,467 | +€20,766 | +561.0% |
| Furniture and vehicles | 24 | €66,141 | €47,437 | -€18,704 | -28.3% |
| Leasing and similar rights | 25 | €1,837 | €2,244 | +€406 | +22.1% |
| Other tangible fixed assets | 26 | - | €60,872 | +€60,872 | |
| Financial fixed assets | 28 | €2,985 | €267,300 | +€264,315 | +8854.8% |
| Current assets | 29/58 | €198,085 | €217,246 | +€19,160 | +9.7% |
| Amounts receivable within one year | 40/41 | €66,629 | €132,793 | +€66,164 | +99.3% |
| Trade receivables | 40 | €52,871 | €124,391 | +€71,520 | +135.3% |
| Other amounts receivable | 41 | €13,758 | €8,402 | -€5,356 | -38.9% |
| Cash at bank and in hand | 54/58 | €122,802 | €67,254 | -€55,547 | -45.2% |
| Deferred charges and accrued income | 490/1 | €8,654 | €17,198 | +€8,543 | +98.7% |
| Total equity and liabilities | 10/49 | €272,751 | €623,750 | +€350,999 | +128.7% |
| Equity | 10/15 | €102,655 | €214,666 | +€112,011 | +109.1% |
| Contributions | 10/11 | €19,530 | €19,530 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,125 | €195,136 | +€112,011 | +134.8% |
| Amounts payable | 17/49 | €170,096 | €409,084 | +€238,988 | +140.5% |
| Amounts payable after more than one year | 17 | €30,915 | €205,154 | +€174,240 | +563.6% |
| Financial debts | 170/4 | €30,915 | €205,154 | +€174,240 | +563.6% |
| Amounts payable within one year | 42/48 | €139,181 | €203,508 | +€64,326 | +46.2% |
| Current portion of amounts payable after more than one year | 42 | €20,922 | €69,598 | +€48,676 | +232.7% |
| Financial debts | 43 | - | €5,218 | +€5,218 | |
| Credit institutions | 430/8 | - | €5,218 | +€5,218 | |
| Trade debts | 44 | €8,514 | €37,505 | +€28,991 | +340.5% |
| Suppliers | 440/4 | €8,514 | €37,505 | +€28,991 | +340.5% |
| Taxes, remuneration and social security | 45 | €69,087 | €48,837 | -€20,250 | -29.3% |
| Taxes | 450/3 | €53,929 | €25,834 | -€28,096 | -52.1% |
| Remuneration and social security | 454/9 | €15,157 | €23,003 | +€7,846 | +51.8% |
| Other amounts payable | 47/48 | €40,658 | €42,349 | +€1,691 | +4.2% |
| Accrued charges and deferred income | 492/3 | - | €422 | +€422 | |
| Remuneration, social security and pensions | 62 | €196,384 | €192,997 | -€3,386 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,365 | €24,641 | +€4,277 | +21.0% |
| Other operating charges | 640/8 | €4,094 | €4,007 | -€87 | -2.1% |
| Non-recurring operating charges | 66A | €3,524 | €2,985 | -€539 | -15.3% |
| Gross operating margin | 9900 | €347,951 | €377,975 | +€30,024 | +8.6% |
| Operating profit (loss) | 9901 | €123,584 | €153,344 | +€29,760 | +24.1% |
| Financial income | 75/76B | €756 | €4 | -€752 | -99.5% |
| Recurring financial income | 75 | €756 | €4 | -€752 | -99.5% |
| Financial charges | 65/66B | €3,535 | €7,900 | +€4,366 | +123.5% |
| Recurring financial charges | 65 | €3,535 | €7,900 | +€4,366 | +123.5% |
| Profit (loss) for the period before taxes | 9903 | €120,806 | €145,448 | +€24,642 | +20.4% |
| Income taxes | 67/77 | €24,247 | €33,437 | +€9,190 | +37.9% |
| Profit (loss) for the period | 9904 | €96,559 | €112,011 | +€15,452 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €96,559 | €112,011 | +€15,452 | +16.0% |
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.