PC MGT: 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.
PC MGT
Largest movements
- Financial fixed assets -€200,000
down €200,000 (-50.0%), from €400,000 to €200,000
- Tangible fixed assets +€53,684
up €53,684 (+437.0%), from €12,285 to €65,969
of which Other tangible fixed assets: +€53,354
- Receivables within one year -€10,048
down €10,048 (-34.6%), from €29,040 to €18,992
of which Trade receivables: -€10,057
- Cash +€6,672
new in 2025: €6,672
mainly Investment in fixed assets (net) (+€140,333) and Receivables within one year (+€10,048)
- Short-term financial debts -€53,734
down €53,734 (-100.0%), from €53,734 to €0
- Debts after one year -€34,233
down €34,233 (-17.4%), from €196,896 to €162,663
- Other debts -€33,150
down €33,150 (-45.4%), from €73,081 to €39,931
- Profit (loss) carried forward -€16,094
new in 2025: -€16,094
- Current portion of long-term debt -€7,314
down €7,314 (-18.2%), from €40,268 to €32,954
- Gross operating margin -€29,901
down €29,901 (-69.6%), from €42,953 to €13,052
- Taxes -€6,401
down €6,401 (-94.4%), from €6,781 to €380
- Depreciation +€4,124
up €4,124 (+221.8%), from €1,859 to €5,983
- Other operating charges +€1,927
up €1,927 (+318.5%), from €605 to €2,532
- Financial charges +€899
up €899 (+4.6%), from €19,352 to €20,251
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 | €441,325 | €291,633 | -€149,692 | -33.9% |
| Fixed assets | 21/28 | €412,285 | €265,969 | -€146,316 | -35.5% |
| Tangible fixed assets | 22/27 | €12,285 | €65,969 | +€53,684 | +437.0% |
| Plant, machinery and equipment | 23 | €5,958 | €5,164 | -€795 | -13.3% |
| Furniture and vehicles | 24 | €6,326 | €7,451 | +€1,124 | +17.8% |
| Other tangible fixed assets | 26 | - | €53,354 | +€53,354 | |
| Financial fixed assets | 28 | €400,000 | €200,000 | -€200,000 | -50.0% |
| Current assets | 29/58 | €29,040 | €25,664 | -€3,376 | -11.6% |
| Amounts receivable within one year | 40/41 | €29,040 | €18,992 | -€10,048 | -34.6% |
| Trade receivables | 40 | €29,040 | €18,983 | -€10,057 | -34.6% |
| Other amounts receivable | 41 | - | €9 | +€9 | |
| Cash at bank and in hand | 54/58 | - | €6,672 | +€6,672 | |
| Total equity and liabilities | 10/49 | €441,325 | €291,633 | -€149,692 | -33.9% |
| Equity | 10/15 | €48,496 | €32,402 | -€16,094 | -33.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €18,496 | €18,496 | = | 0.0% |
| Distributable reserves | 133 | €18,496 | €18,496 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€16,094 | -€16,094 | |
| Amounts payable | 17/49 | €392,829 | €259,230 | -€133,598 | -34.0% |
| Amounts payable after more than one year | 17 | €196,896 | €162,663 | -€34,233 | -17.4% |
| Financial debts | 170/4 | €196,896 | €162,663 | -€34,233 | -17.4% |
| Amounts payable within one year | 42/48 | €189,163 | €91,644 | -€97,519 | -51.6% |
| Current portion of amounts payable after more than one year | 42 | €40,268 | €32,954 | -€7,314 | -18.2% |
| Financial debts | 43 | €53,734 | €0 | -€53,734 | -100.0% |
| Credit institutions | 430/8 | €53,734 | €0 | -€53,734 | -100.0% |
| Trade debts | 44 | €6,043 | €5,405 | -€638 | -10.6% |
| Suppliers | 440/4 | €6,043 | €5,405 | -€638 | -10.6% |
| Taxes, remuneration and social security | 45 | €16,036 | €13,353 | -€2,683 | -16.7% |
| Taxes | 450/3 | €16,036 | €13,353 | -€2,683 | -16.7% |
| Other amounts payable | 47/48 | €73,081 | €39,931 | -€33,150 | -45.4% |
| Accrued charges and deferred income | 492/3 | €6,770 | €4,923 | -€1,847 | -27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,859 | €5,983 | +€4,124 | +221.8% |
| Other operating charges | 640/8 | €605 | €2,532 | +€1,927 | +318.5% |
| Gross operating margin | 9900 | €42,953 | €13,052 | -€29,901 | -69.6% |
| Operating profit (loss) | 9901 | €40,489 | €4,537 | -€35,952 | -88.8% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €19,352 | €20,251 | +€899 | +4.6% |
| Recurring financial charges | 65 | €19,352 | €20,251 | +€899 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €21,138 | -€15,714 | -€36,852 | |
| Income taxes | 67/77 | €6,781 | €380 | -€6,401 | -94.4% |
| Profit (loss) for the period | 9904 | €14,356 | -€16,094 | -€30,450 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,356 | -€16,094 | -€30,450 |
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 9 October 2026 via checked.be.