PC LED & WATERSOLUTIONS: 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 LED & WATERSOLUTIONS
Largest movements
- Stocks and contracts -€8,506
down €8,506 (-56.3%), from €15,103 to €6,597
of which Contracts in progress: -€8,254
- Cash +€6,880
up €6,880 (+21.9%), from €31,454 to €38,334
mainly Stocks and contracts (+€8,506) and Receivables within one year (+€5,038)
- Receivables within one year -€5,038
down €5,038 (-29.8%), from €16,925 to €11,888
of which Trade receivables: -€4,464
- Tangible fixed assets +€3,215
up €3,215 (+84.0%), from €3,829 to €7,045
of which Plant, machinery and equipment: +€3,790
- Advances received -€2,987
down €2,987 (-95.8%), from €3,117 to €129
- Debts after one year +€2,302
new in 2025: €2,302
- Profit (loss) carried forward -€1,710
down €1,710 (-39.9%), from €4,288 to €2,578
- Current portion of long-term debt +€1,391
new in 2025: €1,391
- Other debts -€1,176
down €1,176 (-12.9%), from €9,136 to €7,960
- Gross operating margin -€5,007
down €5,007 (-65.4%), from €7,651 to €2,644
- Taxes -€710
down €710 (-76.2%), from €931 to €222
- Other operating charges -€530
down €530 (-69.6%), from €762 to €231
- Depreciation -€495
down €495 (-13.9%), from €3,560 to €3,064
- Financial charges +€202
up €202 (+25.1%), from €806 to €1,008
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 | €67,643 | €64,289 | -€3,354 | -5.0% |
| Fixed assets | 21/28 | €3,829 | €7,045 | +€3,215 | +84.0% |
| Tangible fixed assets | 22/27 | €3,829 | €7,045 | +€3,215 | +84.0% |
| Plant, machinery and equipment | 23 | €3,255 | €7,045 | +€3,790 | +116.4% |
| Furniture and vehicles | 24 | €575 | - | -€575 | |
| Current assets | 29/58 | €63,814 | €57,244 | -€6,570 | -10.3% |
| Stocks and contracts in progress | 3 | €15,103 | €6,597 | -€8,506 | -56.3% |
| Stocks | 30/36 | €6,849 | €6,597 | -€252 | -3.7% |
| Contracts in progress | 37 | €8,254 | - | -€8,254 | |
| Amounts receivable within one year | 40/41 | €16,925 | €11,888 | -€5,038 | -29.8% |
| Trade receivables | 40 | €16,278 | €11,814 | -€4,464 | -27.4% |
| Other amounts receivable | 41 | €647 | €73 | -€574 | -88.7% |
| Cash at bank and in hand | 54/58 | €31,454 | €38,334 | +€6,880 | +21.9% |
| Deferred charges and accrued income | 490/1 | €331 | €425 | +€95 | +28.6% |
| Total equity and liabilities | 10/49 | €67,643 | €64,289 | -€3,354 | -5.0% |
| Equity | 10/15 | €41,573 | €39,863 | -€1,710 | -4.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,685 | €18,685 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €16,825 | €16,825 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,288 | €2,578 | -€1,710 | -39.9% |
| Amounts payable | 17/49 | €26,070 | €24,425 | -€1,644 | -6.3% |
| Amounts payable after more than one year | 17 | - | €2,302 | +€2,302 | |
| Financial debts | 170/4 | - | €2,302 | +€2,302 | |
| Amounts payable within one year | 42/48 | €26,070 | €22,123 | -€3,946 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | - | €1,391 | +€1,391 | |
| Trade debts | 44 | €7,464 | €7,445 | -€19 | -0.3% |
| Suppliers | 440/4 | €7,464 | €7,445 | -€19 | -0.3% |
| Advances received on contracts in progress | 46 | €3,117 | €129 | -€2,987 | -95.8% |
| Taxes, remuneration and social security | 45 | €6,353 | €5,198 | -€1,154 | -18.2% |
| Taxes | 450/3 | €3,553 | €3,798 | +€246 | +6.9% |
| Remuneration and social security | 454/9 | €2,800 | €1,400 | -€1,400 | -50.0% |
| Other amounts payable | 47/48 | €9,136 | €7,960 | -€1,176 | -12.9% |
| Non-recurring operating income | 76A | - | €15,748 | +€15,748 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,560 | €3,064 | -€495 | -13.9% |
| Other operating charges | 640/8 | €762 | €231 | -€530 | -69.6% |
| Gross operating margin | 9900 | €7,651 | €2,644 | -€5,007 | -65.4% |
| Operating profit (loss) | 9901 | €3,329 | -€652 | -€3,981 | |
| Financial income | 75/76B | €96 | €172 | +€76 | +78.9% |
| Recurring financial income | 75 | €96 | €172 | +€76 | +78.9% |
| Financial charges | 65/66B | €806 | €1,008 | +€202 | +25.1% |
| Recurring financial charges | 65 | €806 | €1,008 | +€202 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €2,619 | -€1,489 | -€4,108 | |
| Income taxes | 67/77 | €931 | €222 | -€710 | -76.2% |
| Profit (loss) for the period | 9904 | €1,688 | -€1,710 | -€3,398 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,688 | -€1,710 | -€3,398 |
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 4 October 2026 via checked.be.