PCF INVEST: 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.
PCF INVEST
Largest movements
- Tangible fixed assets -€42,351
down €42,351 (-2.7%), from €1.6m to €1.5m
- Debts after one year -€30,000
down €30,000 (-15.4%), from €195,000 to €165,000
- Depreciation -€6,864
down €6,864 (-13.9%), from €49,215 to €42,351
- Financial charges -€5,685
down €5,685 (-29.0%), from €19,580 to €13,895
- Gross operating margin +€1,845
up €1,845 (+3.2%), from €57,041 to €58,886
- Other operating charges +€1,678
up €1,678 (+122%), from €1,381 to €3,059
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 | €1,589,635 | €1,554,904 | -€34,731 | -2.2% |
| Fixed assets | 21/28 | €1,570,508 | €1,528,157 | -€42,351 | -2.7% |
| Tangible fixed assets | 22/27 | €1,570,508 | €1,528,157 | -€42,351 | -2.7% |
| Land and buildings | 22 | €1,570,508 | €1,528,157 | -€42,351 | -2.7% |
| Current assets | 29/58 | €19,127 | €26,747 | +€7,620 | +39.8% |
| Cash at bank and in hand | 54/58 | €16,135 | €24,965 | +€8,829 | +54.7% |
| Deferred charges and accrued income | 490/1 | €2,992 | €1,783 | -€1,209 | -40.4% |
| Total equity and liabilities | 10/49 | €1,589,635 | €1,554,904 | -€34,731 | -2.2% |
| Equity | 10/15 | €1,385,248 | €1,384,829 | -€419 | 0.0% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€114,752 | -€115,171 | -€419 | -0.4% |
| Amounts payable | 17/49 | €204,387 | €170,075 | -€34,312 | -16.8% |
| Amounts payable after more than one year | 17 | €195,000 | €165,000 | -€30,000 | -15.4% |
| Financial debts | 170/4 | €195,000 | €165,000 | -€30,000 | -15.4% |
| Amounts payable within one year | 42/48 | €8,547 | €4,235 | -€4,312 | -50.5% |
| Trade debts | 44 | €70 | €93 | +€23 | +33.2% |
| Suppliers | 440/4 | €70 | €93 | +€23 | +33.2% |
| Taxes, remuneration and social security | 45 | €5,847 | €4,142 | -€1,706 | -29.2% |
| Taxes | 450/3 | €5,847 | €4,142 | -€1,706 | -29.2% |
| Other amounts payable | 47/48 | €2,630 | - | -€2,630 | |
| Accrued charges and deferred income | 492/3 | €840 | €840 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,215 | €42,351 | -€6,864 | -13.9% |
| Other operating charges | 640/8 | €1,381 | €3,059 | +€1,678 | +122% |
| Gross operating margin | 9900 | €57,041 | €58,886 | +€1,845 | +3.2% |
| Operating profit (loss) | 9901 | €6,445 | €13,476 | +€7,031 | +109% |
| Financial charges | 65/66B | €19,580 | €13,895 | -€5,685 | -29.0% |
| Recurring financial charges | 65 | €19,580 | €13,895 | -€5,685 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,134 | -€419 | +€12,715 | +96.8% |
| Profit (loss) for the period | 9904 | -€13,134 | -€419 | +€12,715 | +96.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,134 | -€419 | +€12,715 | +96.8% |
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 23 October 2026 via checked.be.