PCR: 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.
PCR
Largest movements
- Tangible fixed assets -€20,397
down €20,397 (-11.4%), from €178,337 to €157,940
- Receivables within one year +€17,103
up €17,103 (+43.3%), from €39,495 to €56,597
of which Other amounts receivable: +€8,793
- Deferred charges and accrued income +€4,673
up €4,673 (+37.1%), from €12,593 to €17,267
- Current portion of long-term debt +€33,506
up €33,506 (+121.0%), from €27,687 to €61,192
- Debts after one year -€20,188
down €20,188 (-12.2%), from €166,050 to €145,862
of which Other amounts payable: -€61,667
- Profit (loss) carried forward -€15,397
new in 2025: -€15,397
- Trade debts +€4,424
up €4,424 (+17.3%), from €25,648 to €30,073
- Tax, wage and social debts -€3,427
no longer reported in 2025 (was €3,427)
- Gross operating margin +€34,504
up €34,504 (+66.1%), from €52,223 to €86,727
- Depreciation +€32,895
up €32,895 (+74.4%), from €44,193 to €77,087
- Write-downs +€14,207
new in 2025: €14,207
- Financial charges +€3,126
up €3,126 (+41.4%), from €7,553 to €10,679
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 | €255,345 | €255,513 | +€168 | +0.1% |
| Fixed assets | 21/28 | €178,337 | €157,940 | -€20,397 | -11.4% |
| Tangible fixed assets | 22/27 | €178,337 | €157,940 | -€20,397 | -11.4% |
| Furniture and vehicles | 24 | €178,337 | €157,940 | -€20,397 | -11.4% |
| Current assets | 29/58 | €77,008 | €97,573 | +€20,565 | +26.7% |
| Amounts receivable within one year | 40/41 | €39,495 | €56,597 | +€17,103 | +43.3% |
| Trade receivables | 40 | €38,767 | €47,076 | +€8,310 | +21.4% |
| Other amounts receivable | 41 | €728 | €9,521 | +€8,793 | +1207.5% |
| Cash at bank and in hand | 54/58 | €24,920 | €23,709 | -€1,211 | -4.9% |
| Deferred charges and accrued income | 490/1 | €12,593 | €17,267 | +€4,673 | +37.1% |
| Total equity and liabilities | 10/49 | €255,345 | €255,513 | +€168 | +0.1% |
| Equity | 10/15 | €30,199 | €14,802 | -€15,397 | -51.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €199 | €199 | = | 0.0% |
| Distributable reserves | 133 | €199 | €199 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€15,397 | -€15,397 | |
| Amounts payable | 17/49 | €225,146 | €240,711 | +€15,565 | +6.9% |
| Amounts payable after more than one year | 17 | €166,050 | €145,862 | -€20,188 | -12.2% |
| Financial debts | 170/4 | €96,321 | €137,800 | +€41,479 | +43.1% |
| Other amounts payable | 178/9 | €69,729 | €8,062 | -€61,667 | -88.4% |
| Amounts payable within one year | 42/48 | €57,083 | €91,569 | +€34,486 | +60.4% |
| Current portion of amounts payable after more than one year | 42 | €27,687 | €61,192 | +€33,506 | +121.0% |
| Financial debts | 43 | €311 | €304 | -€6 | -2.0% |
| Credit institutions | 430/8 | €311 | €304 | -€6 | -2.0% |
| Trade debts | 44 | €25,648 | €30,073 | +€4,424 | +17.3% |
| Suppliers | 440/4 | €25,648 | €30,073 | +€4,424 | +17.3% |
| Taxes, remuneration and social security | 45 | €3,427 | - | -€3,427 | |
| Taxes | 450/3 | €3,427 | - | -€3,427 | |
| Other amounts payable | 47/48 | €10 | - | -€10 | |
| Accrued charges and deferred income | 492/3 | €2,013 | €3,279 | +€1,266 | +62.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,193 | €77,087 | +€32,895 | +74.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,207 | +€14,207 | |
| Other operating charges | 640/8 | €522 | €183 | -€339 | -65.0% |
| Gross operating margin | 9900 | €52,223 | €86,727 | +€34,504 | +66.1% |
| Operating profit (loss) | 9901 | €7,509 | -€4,750 | -€12,258 | |
| Financial income | 75/76B | €401 | €31 | -€369 | -92.2% |
| Recurring financial income | 75 | €401 | €31 | -€369 | -92.2% |
| Financial charges | 65/66B | €7,553 | €10,679 | +€3,126 | +41.4% |
| Recurring financial charges | 65 | €7,553 | €10,679 | +€3,126 | +41.4% |
| Profit (loss) for the period before taxes | 9903 | €357 | -€15,397 | -€15,754 | |
| Income taxes | 67/77 | €158 | - | -€158 | |
| Profit (loss) for the period | 9904 | €199 | -€15,397 | -€15,596 | |
| Profit (loss) for the period to be appropriated | 9905 | €199 | -€15,397 | -€15,596 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.