PCLC: 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.
PCLC
Largest movements
- Tangible fixed assets +€945,813
up €945,813 (+192%), from €493,347 to €1.4m
of which Land and buildings: +€946,185
- Current investments -€308,575
down €308,575 (-75.3%), from €410,000 to €101,425
- Receivables within one year +€261,471
up €261,471 (+125%), from €209,795 to €471,266
of which Trade receivables: +€251,805
- Reserves +€388,903
up €388,903 (+60.3%), from €644,863 to €1.0m
of which Distributable reserves: +€388,903
- Debts after one year +€324,950
up €324,950 (+147%), from €220,767 to €545,717
- Tax, wage and social debts +€128,317
up €128,317 (+280%), from €45,872 to €174,189
- Current portion of long-term debt +€34,939
up €34,939 (+87.1%), from €40,112 to €75,050
- Other debts +€26,887
up €26,887 (+8.1%), from €333,030 to €359,917
- Gross operating margin +€169,666
up €169,666 (+34.0%), from €498,458 to €668,125
- Depreciation +€118,104
up €118,104 (+695%), from €17,002 to €135,105
- Taxes +€14,346
up €14,346 (+12.5%), from €114,571 to €128,917
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 | €1,304,161 | €2,208,588 | +€904,427 | +69.3% |
| Fixed assets | 21/28 | €493,347 | €1,439,159 | +€945,813 | +192% |
| Tangible fixed assets | 22/27 | €493,347 | €1,439,159 | +€945,813 | +192% |
| Land and buildings | 22 | €486,461 | €1,432,646 | +€946,185 | +195% |
| Plant, machinery and equipment | 23 | €5,760 | €5,951 | +€191 | +3.3% |
| Furniture and vehicles | 24 | €1,126 | €563 | -€563 | -50.0% |
| Current assets | 29/58 | €810,814 | €769,429 | -€41,385 | -5.1% |
| Amounts receivable within one year | 40/41 | €209,795 | €471,266 | +€261,471 | +125% |
| Trade receivables | 40 | €137,456 | €389,261 | +€251,805 | +183% |
| Other amounts receivable | 41 | €72,339 | €82,005 | +€9,666 | +13.4% |
| Current investments | 50/53 | €410,000 | €101,425 | -€308,575 | -75.3% |
| Cash at bank and in hand | 54/58 | €188,429 | €194,670 | +€6,241 | +3.3% |
| Deferred charges and accrued income | 490/1 | €2,590 | €2,068 | -€523 | -20.2% |
| Total equity and liabilities | 10/49 | €1,304,161 | €2,208,588 | +€904,427 | +69.3% |
| Equity | 10/15 | €663,463 | €1,052,366 | +€388,903 | +58.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €644,863 | €1,033,766 | +€388,903 | +60.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €643,003 | €1,031,906 | +€388,903 | +60.5% |
| Amounts payable | 17/49 | €640,697 | €1,156,222 | +€515,525 | +80.5% |
| Amounts payable after more than one year | 17 | €220,767 | €545,717 | +€324,950 | +147% |
| Financial debts | 170/4 | €220,767 | €545,717 | +€324,950 | +147% |
| Amounts payable within one year | 42/48 | €419,930 | €610,505 | +€190,575 | +45.4% |
| Current portion of amounts payable after more than one year | 42 | €40,112 | €75,050 | +€34,939 | +87.1% |
| Trade debts | 44 | €917 | €1,350 | +€433 | +47.2% |
| Suppliers | 440/4 | €917 | €1,350 | +€433 | +47.2% |
| Taxes, remuneration and social security | 45 | €45,872 | €174,189 | +€128,317 | +280% |
| Taxes | 450/3 | €45,872 | €174,189 | +€128,317 | +280% |
| Other amounts payable | 47/48 | €333,030 | €359,917 | +€26,887 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,002 | €135,105 | +€118,104 | +695% |
| Other operating charges | 640/8 | €3,303 | €3,659 | +€356 | +10.8% |
| Gross operating margin | 9900 | €498,458 | €668,125 | +€169,666 | +34.0% |
| Operating profit (loss) | 9901 | €478,154 | €529,360 | +€51,206 | +10.7% |
| Financial income | 75/76B | €9,414 | €10,468 | +€1,054 | +11.2% |
| Recurring financial income | 75 | €9,414 | €10,468 | +€1,054 | +11.2% |
| Financial charges | 65/66B | €17,438 | €22,008 | +€4,570 | +26.2% |
| Recurring financial charges | 65 | €17,438 | €22,008 | +€4,570 | +26.2% |
| Profit (loss) for the period before taxes | 9903 | €470,129 | €517,820 | +€47,690 | +10.1% |
| Income taxes | 67/77 | €114,571 | €128,917 | +€14,346 | +12.5% |
| Profit (loss) for the period | 9904 | €355,558 | €388,903 | +€33,345 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €355,558 | €388,903 | +€33,345 | +9.4% |
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 16 October 2026 via checked.be.