PCA PROJECT: 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.
PCA PROJECT
Largest movements
- Receivables within one year +€5,810
up €5,810 (+78.9%), from €7,367 to €13,177
of which Trade receivables: +€6,080
- Cash -€1,610
down €1,610 (-12.4%), from €12,952 to €11,342
mainly Receivables within one year (-€5,810) and Deferred charges and accrued income (-€1,091)
- Deferred charges and accrued income +€1,091
up €1,091 (+404%), from €270 to €1,361
- Tangible fixed assets -€297
down €297 (-24.5%), from €1,210 to €913
- Formation expenses -€294
down €294 (-44.6%), from €659 to €365
- Tax, wage and social debts +€3,266
up €3,266 (+102%), from €3,200 to €6,466
of which Remuneration and social security: +€4,500
- Profit (loss) carried forward +€907
up €907 (+5.6%), from €16,258 to €17,165
- Trade debts +€527
new in 2025: €527
- Turnover -€17,177
down €17,177 (-30.8%), from €55,686 to €38,509
- Gross operating margin -€11,050
down €11,050 (-79.5%), from €13,894 to €2,844
- Purchases and services -€6,476
down €6,476 (-15.4%), from €42,140 to €35,664
- Taxes -€2,900
down €2,900 (-90.6%), from €3,200 to €300
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.
Derived cash bridge
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 | €22,458 | €27,158 | +€4,700 | +20.9% |
| Formation expenses | 20 | €659 | €365 | -€294 | -44.6% |
| Fixed assets | 21/28 | €1,210 | €913 | -€297 | -24.5% |
| Tangible fixed assets | 22/27 | €1,210 | €913 | -€297 | -24.5% |
| Plant, machinery and equipment | 23 | €1,210 | €913 | -€297 | -24.5% |
| Current assets | 29/58 | €20,589 | €25,880 | +€5,291 | +25.7% |
| Amounts receivable within one year | 40/41 | €7,367 | €13,177 | +€5,810 | +78.9% |
| Trade receivables | 40 | €1,376 | €7,456 | +€6,080 | +442% |
| Other amounts receivable | 41 | €5,991 | €5,721 | -€270 | -4.5% |
| Cash at bank and in hand | 54/58 | €12,952 | €11,342 | -€1,610 | -12.4% |
| Deferred charges and accrued income | 490/1 | €270 | €1,361 | +€1,091 | +404% |
| Total equity and liabilities | 10/49 | €22,458 | €27,158 | +€4,700 | +20.9% |
| Equity | 10/15 | €19,258 | €20,165 | +€907 | +4.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,258 | €17,165 | +€907 | +5.6% |
| Amounts payable | 17/49 | €3,200 | €6,993 | +€3,793 | +119% |
| Amounts payable within one year | 42/48 | €3,200 | €6,993 | +€3,793 | +119% |
| Trade debts | 44 | - | €527 | +€527 | |
| Suppliers | 440/4 | - | €527 | +€527 | |
| Taxes, remuneration and social security | 45 | €3,200 | €6,466 | +€3,266 | +102% |
| Taxes | 450/3 | €3,200 | €1,966 | -€1,234 | -38.6% |
| Remuneration and social security | 454/9 | - | €4,500 | +€4,500 | |
| Turnover | 70 | €55,686 | €38,509 | -€17,177 | -30.8% |
| Non-recurring operating income | 76A | €348 | - | -€348 | |
| Goods, raw materials, services and sundry goods | 60/61 | €42,140 | €35,664 | -€6,476 | -15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €539 | €590 | +€51 | +9.5% |
| Other operating charges | 640/8 | €555 | €669 | +€114 | +20.5% |
| Non-recurring operating charges | 66A | €184 | - | -€184 | |
| Gross operating margin | 9900 | €13,894 | €2,844 | -€11,050 | -79.5% |
| Operating profit (loss) | 9901 | €12,616 | €1,585 | -€11,031 | -87.4% |
| Financial charges | 65/66B | €151 | €378 | +€227 | +150% |
| Recurring financial charges | 65 | €151 | €150 | -€1 | -0.7% |
| Non-recurring financial charges | 66B | - | €228 | +€228 | |
| Profit (loss) for the period before taxes | 9903 | €12,465 | €1,207 | -€11,258 | -90.3% |
| Income taxes | 67/77 | €3,200 | €300 | -€2,900 | -90.6% |
| Profit (loss) for the period | 9904 | €9,265 | €907 | -€8,358 | -90.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,265 | €907 | -€8,358 | -90.2% |
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 15 October 2026 via checked.be.