PCON: 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.
PCON
Largest movements
- Receivables within one year -€28,424
down €28,424 (-26.0%), from €109,289 to €80,865
of which Trade receivables: -€25,665
- Tangible fixed assets -€25,441
down €25,441 (-9.3%), from €274,478 to €249,036
of which Other tangible fixed assets: -€15,396
- Cash +€14,051
up €14,051 (+20.5%), from €68,566 to €82,617
mainly Depreciation (+€37,582) and Net result for the year (+€34,131)
- Other debts -€41,171
down €41,171 (-65.2%), from €63,098 to €21,928
- Reserves +€34,131
up €34,131 (+38.6%), from €88,328 to €122,459
- Debts after one year -€19,906
down €19,906 (-8.6%), from €231,674 to €211,768
- Tax, wage and social debts -€5,980
down €5,980 (-23.9%), from €25,045 to €19,065
- Gross operating margin -€4,444
down €4,444 (-4.5%), from €99,801 to €95,357
- Taxes -€1,350
down €1,350 (-7.7%), from €17,639 to €16,289
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 | €458,088 | €423,063 | -€35,025 | -7.6% |
| Fixed assets | 21/28 | €274,563 | €249,036 | -€25,527 | -9.3% |
| Intangible fixed assets | 21 | €86 | €0 | -€86 | -100% |
| Tangible fixed assets | 22/27 | €274,478 | €249,036 | -€25,441 | -9.3% |
| Plant, machinery and equipment | 23 | €964 | €576 | -€388 | -40.2% |
| Furniture and vehicles | 24 | €29,323 | €19,665 | -€9,658 | -32.9% |
| Other tangible fixed assets | 26 | €244,191 | €228,795 | -€15,396 | -6.3% |
| Current assets | 29/58 | €183,525 | €174,027 | -€9,498 | -5.2% |
| Stocks and contracts in progress | 3 | €573 | €1,737 | +€1,164 | +203% |
| Stocks | 30/36 | €573 | €1,737 | +€1,164 | +203% |
| Amounts receivable within one year | 40/41 | €109,289 | €80,865 | -€28,424 | -26.0% |
| Trade receivables | 40 | €86,531 | €60,865 | -€25,665 | -29.7% |
| Other amounts receivable | 41 | €22,758 | €20,000 | -€2,758 | -12.1% |
| Cash at bank and in hand | 54/58 | €68,566 | €82,617 | +€14,051 | +20.5% |
| Deferred charges and accrued income | 490/1 | €5,097 | €8,808 | +€3,711 | +72.8% |
| Total equity and liabilities | 10/49 | €458,088 | €423,063 | -€35,025 | -7.6% |
| Equity | 10/15 | €106,928 | €141,059 | +€34,131 | +31.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €88,328 | €122,459 | +€34,131 | +38.6% |
| Distributable reserves | 133 | €88,328 | €122,459 | +€34,131 | +38.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €351,160 | €282,004 | -€69,156 | -19.7% |
| Amounts payable after more than one year | 17 | €231,674 | €211,768 | -€19,906 | -8.6% |
| Financial debts | 170/4 | €231,674 | €211,768 | -€19,906 | -8.6% |
| Amounts payable within one year | 42/48 | €119,379 | €70,189 | -€49,190 | -41.2% |
| Current portion of amounts payable after more than one year | 42 | €21,811 | €19,906 | -€1,904 | -8.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €9,425 | €9,290 | -€135 | -1.4% |
| Suppliers | 440/4 | €9,425 | €9,290 | -€135 | -1.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €25,045 | €19,065 | -€5,980 | -23.9% |
| Taxes | 450/3 | €25,045 | €19,065 | -€5,980 | -23.9% |
| Other amounts payable | 47/48 | €63,098 | €21,928 | -€41,171 | -65.2% |
| Accrued charges and deferred income | 492/3 | €107 | €47 | -€59 | -55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,602 | €37,582 | -€20 | -0.1% |
| Other operating charges | 640/8 | €2,463 | €2,639 | +€176 | +7.1% |
| Non-recurring operating charges | 66A | €1,189 | €0 | -€1,189 | -100% |
| Gross operating margin | 9900 | €99,801 | €95,357 | -€4,444 | -4.5% |
| Operating profit (loss) | 9901 | €58,547 | €55,136 | -€3,411 | -5.8% |
| Financial income | 75/76B | €589 | €294 | -€295 | -50.1% |
| Recurring financial income | 75 | €589 | €294 | -€295 | -50.1% |
| Financial charges | 65/66B | €5,408 | €5,010 | -€398 | -7.4% |
| Recurring financial charges | 65 | €5,408 | €5,010 | -€398 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €53,728 | €50,420 | -€3,308 | -6.2% |
| Income taxes | 67/77 | €17,639 | €16,289 | -€1,350 | -7.7% |
| Profit (loss) for the period | 9904 | €36,089 | €34,131 | -€1,958 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,089 | €34,131 | -€1,958 | -5.4% |
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 15 October 2026 via checked.be.