PC14: 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.
PC14
Largest movements
- Deferred charges and accrued income -€11,098
down €11,098 (-99.4%), from €11,169 to €71
- Receivables within one year -€8,273
down €8,273 (-38.1%), from €21,740 to €13,467
of which Trade receivables: -€10,285
- Receivables after one year -€7,167
down €7,167 (-54.4%), from €13,167 to €6,000
- Tangible fixed assets -€6,524
down €6,524 (-1.9%), from €343,668 to €337,144
of which Land and buildings: -€6,740
- Other debts -€23,913
down €23,913 (-20.5%), from €116,696 to €92,783
- Debts after one year -€18,811
down €18,811 (-8.2%), from €229,643 to €210,831
- Short-term financial debts +€12,364
up €12,364 (+103.0%), from €12,000 to €24,364
- Trade debts +€8,165
up €8,165 (+246.2%), from €3,316 to €11,481
- Tax, wage and social debts -€7,596
down €7,596 (-70.0%), from €10,852 to €3,256
- Gross operating margin +€71,966
up €71,966 (+103.1%), from €69,788 to €141,754
- Taxes +€17,554
up €17,554 (+153.5%), from €11,435 to €28,988
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 | €395,968 | €366,527 | -€29,441 | -7.4% |
| Fixed assets | 21/28 | €343,668 | €337,144 | -€6,524 | -1.9% |
| Tangible fixed assets | 22/27 | €343,668 | €337,144 | -€6,524 | -1.9% |
| Land and buildings | 22 | €295,334 | €288,594 | -€6,740 | -2.3% |
| Plant, machinery and equipment | 23 | €448 | €1,679 | +€1,231 | +275.0% |
| Furniture and vehicles | 24 | €47,886 | €46,871 | -€1,015 | -2.1% |
| Current assets | 29/58 | €52,300 | €29,383 | -€22,917 | -43.8% |
| Amounts receivable after more than one year | 29 | €13,167 | €6,000 | -€7,167 | -54.4% |
| Other amounts receivable | 291 | €13,167 | €6,000 | -€7,167 | -54.4% |
| Amounts receivable within one year | 40/41 | €21,740 | €13,467 | -€8,273 | -38.1% |
| Trade receivables | 40 | €21,175 | €10,890 | -€10,285 | -48.6% |
| Other amounts receivable | 41 | €565 | €2,577 | +€2,012 | +355.8% |
| Cash at bank and in hand | 54/58 | €6,224 | €9,845 | +€3,621 | +58.2% |
| Deferred charges and accrued income | 490/1 | €11,169 | €71 | -€11,098 | -99.4% |
| Total equity and liabilities | 10/49 | €395,968 | €366,527 | -€29,441 | -7.4% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €390,968 | €361,527 | -€29,441 | -7.5% |
| Amounts payable after more than one year | 17 | €229,643 | €210,831 | -€18,811 | -8.2% |
| Financial debts | 170/4 | €229,643 | €210,831 | -€18,811 | -8.2% |
| Amounts payable within one year | 42/48 | €161,325 | €150,696 | -€10,629 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €18,461 | €18,811 | +€351 | +1.9% |
| Financial debts | 43 | €12,000 | €24,364 | +€12,364 | +103.0% |
| Other loans | 439 | €12,000 | €24,364 | +€12,364 | +103.0% |
| Trade debts | 44 | €3,316 | €11,481 | +€8,165 | +246.2% |
| Suppliers | 440/4 | €3,316 | €11,481 | +€8,165 | +246.2% |
| Taxes, remuneration and social security | 45 | €10,852 | €3,256 | -€7,596 | -70.0% |
| Taxes | 450/3 | €10,852 | €3,256 | -€7,596 | -70.0% |
| Other amounts payable | 47/48 | €116,696 | €92,783 | -€23,913 | -20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,658 | €13,038 | +€380 | +3.0% |
| Other operating charges | 640/8 | €2,647 | €3,886 | +€1,239 | +46.8% |
| Gross operating margin | 9900 | €69,788 | €141,754 | +€71,966 | +103.1% |
| Operating profit (loss) | 9901 | €54,483 | €124,831 | +€70,348 | +129.1% |
| Financial income | 75/76B | €1,441 | €74 | -€1,367 | -94.9% |
| Recurring financial income | 75 | €1,441 | €74 | -€1,367 | -94.9% |
| Financial charges | 65/66B | €8,879 | €8,960 | +€81 | +0.9% |
| Recurring financial charges | 65 | €8,879 | €8,960 | +€81 | +0.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €47,045 | €115,945 | +€68,899 | +146.5% |
| Income taxes | 67/77 | €11,435 | €28,988 | +€17,554 | +153.5% |
| Profit (loss) for the period | 9904 | €35,611 | €86,956 | +€51,346 | +144.2% |
| Profit (loss) for the period to be appropriated | 9905 | €35,611 | €86,956 | +€51,346 | +144.2% |
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 3 October 2026 via checked.be.