PCAP: 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.
PCAP
Largest movements
- Deferred charges and accrued income +€15,102
up €15,102 (+490.0%), from €3,082 to €18,184
- Cash -€10,516
down €10,516 (-11.2%), from €94,056 to €83,540
mainly Deferred charges and accrued income (-€15,102) and Receivables within one year (-€6,151)
- Receivables within one year +€6,151
up €6,151 (+100.6%), from €6,117 to €12,267
of which Trade receivables: +€6,048
- Tangible fixed assets -€1,804
down €1,804 (-28.6%), from €6,304 to €4,500
of which Other tangible fixed assets: -€1,241
- Accrued charges and deferred income +€4,950
up €4,950 (+300.0%), from €1,650 to €6,600
- Profit (loss) carried forward +€3,523
up €3,523 (+5.3%), from -€65,936 to -€62,413
- Other debts +€1,356
up €1,356 (+1.0%), from €132,051 to €133,407
- Gross operating margin +€3,821
up €3,821 (+12.7%), from €30,056 to €33,877
- Financial income +€3,455
up €3,455 (+23602.3%), from €15 to €3,470
of which Non-recurring financial income: +€3,466
- Other operating charges +€353
up €353 (+34.8%), from €1,014 to €1,367
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 | €109,560 | €118,491 | +€8,931 | +8.2% |
| Fixed assets | 21/28 | €6,304 | €4,500 | -€1,804 | -28.6% |
| Tangible fixed assets | 22/27 | €6,304 | €4,500 | -€1,804 | -28.6% |
| Furniture and vehicles | 24 | €1,950 | €1,386 | -€564 | -28.9% |
| Other tangible fixed assets | 26 | €4,355 | €3,114 | -€1,241 | -28.5% |
| Current assets | 29/58 | €103,255 | €113,991 | +€10,736 | +10.4% |
| Amounts receivable within one year | 40/41 | €6,117 | €12,267 | +€6,151 | +100.6% |
| Trade receivables | 40 | €6,117 | €12,164 | +€6,048 | +98.9% |
| Other amounts receivable | 41 | - | €103 | +€103 | |
| Cash at bank and in hand | 54/58 | €94,056 | €83,540 | -€10,516 | -11.2% |
| Deferred charges and accrued income | 490/1 | €3,082 | €18,184 | +€15,102 | +490.0% |
| Total equity and liabilities | 10/49 | €109,560 | €118,491 | +€8,931 | +8.2% |
| Equity | 10/15 | -€36,117 | -€32,594 | +€3,523 | +9.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €17,418 | €17,418 | = | 0.0% |
| Distributable reserves | 133 | €17,418 | €17,418 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,936 | -€62,413 | +€3,523 | +5.3% |
| Amounts payable | 17/49 | €145,677 | €151,085 | +€5,408 | +3.7% |
| Amounts payable within one year | 42/48 | €144,027 | €144,485 | +€458 | +0.3% |
| Financial debts | 43 | €594 | €74 | -€519 | -87.5% |
| Credit institutions | 430/8 | €594 | €74 | -€519 | -87.5% |
| Trade debts | 44 | €2,897 | €1,741 | -€1,156 | -39.9% |
| Suppliers | 440/4 | €2,897 | €1,741 | -€1,156 | -39.9% |
| Taxes, remuneration and social security | 45 | €8,486 | €9,263 | +€777 | +9.2% |
| Taxes | 450/3 | €4,770 | €5,446 | +€675 | +14.2% |
| Remuneration and social security | 454/9 | €3,715 | €3,818 | +€102 | +2.8% |
| Other amounts payable | 47/48 | €132,051 | €133,407 | +€1,356 | +1.0% |
| Accrued charges and deferred income | 492/3 | €1,650 | €6,600 | +€4,950 | +300.0% |
| Remuneration, social security and pensions | 62 | €29,279 | €28,997 | -€281 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,132 | €1,804 | -€328 | -15.4% |
| Other operating charges | 640/8 | €1,014 | €1,367 | +€353 | +34.8% |
| Gross operating margin | 9900 | €30,056 | €33,877 | +€3,821 | +12.7% |
| Operating profit (loss) | 9901 | -€2,369 | €1,708 | +€4,077 | |
| Financial income | 75/76B | €15 | €3,470 | +€3,455 | +23602.3% |
| Recurring financial income | 75 | €15 | €4 | -€11 | -72.6% |
| Non-recurring financial income | 76B | - | €3,466 | +€3,466 | |
| Financial charges | 65/66B | €1,145 | €1,200 | +€55 | +4.8% |
| Recurring financial charges | 65 | €1,145 | €1,200 | +€55 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,499 | €3,978 | +€7,477 | |
| Income taxes | 67/77 | €602 | €455 | -€147 | -24.4% |
| Profit (loss) for the period | 9904 | -€4,101 | €3,523 | +€7,624 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,101 | €3,523 | +€7,624 |
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.