PC.EX: 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.
PC.EX
Largest movements
- Receivables within one year +€123,192
up €123,192 (+27.3%), from €450,941 to €574,133
of which Other amounts receivable: +€485,525
- Cash +€78,646
up €78,646 (+229.8%), from €34,220 to €112,866
mainly Net result for the year (+€1.2m) and Other debts (+€132,449)
- Tangible fixed assets -€58,383
down €58,383 (-23.9%), from €244,260 to €185,877
of which Furniture and vehicles: -€29,272
- Other debts +€132,449
up €132,449 (+15.9%), from €834,014 to €966,462
- Profit (loss) carried forward +€81,880
up €81,880 (+1607.4%), from €5,094 to €86,974
- Debts after one year -€63,093
down €63,093 (-65.2%), from €96,756 to €33,664
- Tax, wage and social debts -€55,697
down €55,697 (-42.0%), from €132,550 to €76,853
- Trade debts +€55,595
up €55,595 (+307.2%), from €18,100 to €73,696
- Gross operating margin +€356,337
up €356,337 (+28.1%), from €1.3m to €1.6m
- Financial income +€100,055
up €100,055, from €0 to €100,055
- Taxes +€70,125
up €70,125 (+23.0%), from €305,337 to €375,462
- Write-downs +€60,801
new in 2025: €60,801
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 | €1,182,860 | €1,323,708 | +€140,849 | +11.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €679,060 | €620,677 | -€58,383 | -8.6% |
| Tangible fixed assets | 22/27 | €244,260 | €185,877 | -€58,383 | -23.9% |
| Plant, machinery and equipment | 23 | €8,280 | €7,861 | -€419 | -5.1% |
| Furniture and vehicles | 24 | €60,405 | €31,133 | -€29,272 | -48.5% |
| Leasing and similar rights | 25 | €41,371 | €29,991 | -€11,380 | -27.5% |
| Other tangible fixed assets | 26 | €134,204 | €116,893 | -€17,312 | -12.9% |
| Financial fixed assets | 28 | €434,800 | €434,800 | = | 0.0% |
| Current assets | 29/58 | €503,799 | €703,032 | +€199,232 | +39.5% |
| Amounts receivable within one year | 40/41 | €450,941 | €574,133 | +€123,192 | +27.3% |
| Trade receivables | 40 | €371,703 | €9,369 | -€362,334 | -97.5% |
| Other amounts receivable | 41 | €79,238 | €564,764 | +€485,525 | +612.7% |
| Cash at bank and in hand | 54/58 | €34,220 | €112,866 | +€78,646 | +229.8% |
| Deferred charges and accrued income | 490/1 | €18,638 | €16,033 | -€2,605 | -14.0% |
| Total equity and liabilities | 10/49 | €1,182,860 | €1,323,708 | +€140,849 | +11.9% |
| Equity | 10/15 | €25,554 | €107,434 | +€81,880 | +320.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,094 | €86,974 | +€81,880 | +1607.4% |
| Amounts payable | 17/49 | €1,157,306 | €1,216,275 | +€58,969 | +5.1% |
| Amounts payable after more than one year | 17 | €96,756 | €33,664 | -€63,093 | -65.2% |
| Financial debts | 170/4 | €96,756 | €33,664 | -€63,093 | -65.2% |
| Amounts payable within one year | 42/48 | €1,060,441 | €1,182,478 | +€122,037 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €75,777 | €65,467 | -€10,310 | -13.6% |
| Trade debts | 44 | €18,100 | €73,696 | +€55,595 | +307.2% |
| Suppliers | 440/4 | €18,100 | €73,696 | +€55,595 | +307.2% |
| Taxes, remuneration and social security | 45 | €132,550 | €76,853 | -€55,697 | -42.0% |
| Taxes | 450/3 | €132,550 | €76,853 | -€55,697 | -42.0% |
| Other amounts payable | 47/48 | €834,014 | €966,462 | +€132,449 | +15.9% |
| Accrued charges and deferred income | 492/3 | €109 | €133 | +€24 | +22.3% |
| Non-recurring operating income | 76A | €382 | - | -€382 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,741 | €63,058 | +€7,317 | +13.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €60,801 | +€60,801 | |
| Other operating charges | 640/8 | €1,028 | €1,001 | -€28 | -2.7% |
| Non-recurring operating charges | 66A | €327 | €9,598 | +€9,271 | +2831.6% |
| Gross operating margin | 9900 | €1,266,057 | €1,622,394 | +€356,337 | +28.1% |
| Operating profit (loss) | 9901 | €1,208,960 | €1,487,936 | +€278,976 | +23.1% |
| Financial income | 75/76B | €0 | €100,055 | +€100,055 | |
| Recurring financial income | 75 | €0 | €100,055 | +€100,055 | |
| Financial charges | 65/66B | €18,530 | €30,649 | +€12,119 | +65.4% |
| Recurring financial charges | 65 | €18,530 | €30,649 | +€12,119 | +65.4% |
| Profit (loss) for the period before taxes | 9903 | €1,190,431 | €1,557,342 | +€366,911 | +30.8% |
| Income taxes | 67/77 | €305,337 | €375,462 | +€70,125 | +23.0% |
| Profit (loss) for the period | 9904 | €885,094 | €1,181,880 | +€296,786 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €885,094 | €1,181,880 | +€296,786 | +33.5% |
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 7 October 2026 via checked.be.