PCSI: 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.
What changed
PCSI
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1,913
2024 · €13,893-€15,806
Equity
€32.3m
2024 · €57,407+€32.3m
Cash
€34,858
2024 · €0+€34,858
Balance sheet total
€44.7m
2024 · €176,458+€44.5m
Largest movements
Assets
- Financial fixed assets +€44.4m
new in 2025: €44.4m
Equity and liabilities
- Contributions +€31.7m
up €31.7m (+4875.4%), from €650,000 to €32.3m
- Debts after one year +€11.1m
new in 2025: €11.1m
- Current portion of long-term debt +€1.0m
new in 2025: €1.0m
- Profit (loss) carried forward +€598,087
up €598,087 (+98.7%), from -€606,194 to -€8,107
Income statement
- Turnover +€60,000
new in 2025: €60,000
- Gross operating margin -€36,199
no longer reported in 2025 (was €36,199)
- Services and other goods +€30,718
new in 2025: €30,718
- Financial charges +€6,235
up €6,235 (+298.4%), from €2,089 to €8,324
- Financial income -€1,217
down €1,217 (-100.0%), from €1,217 to €0
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.
Result 2024
€13,893
Turnover
+€60,000
Services and other goods
-€30,718
Depreciation
-€326
Other operating charges
-€1,111
Other operating items
-€36,199
Financial income
-€1,217
Financial charges
-€6,235
Result 2025
-€1,913
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.
From operations
+€97,398
Investment
-€44.5m
Financing
+€44.4m
Cash 2024
€0
From operations (derived)
+€97,398
Net result for the year
-€1,913
Depreciation
+€19,076
Smaller working-capital items
+€80,234
Investment (derived)
-€44.5m
Investment in fixed assets (net)
-€44.5m
Financing
+€44.4m
Debts after one year
+€11.1m
Current portion of long-term debt
+€1.0m
Contributions, distributions and other
+€32.3m
Cash 2025
€34,858
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €176,458 | €44,695,384 | +€44.5m | +25229.1% |
| Formation expenses | 20 | - | €60,333 | +€60,333 | |
| Fixed assets | 21/28 | €176,458 | €44,599,588 | +€44.4m | +25174.9% |
| Intangible fixed assets | 21 | €176,458 | €157,708 | -€18,750 | -10.6% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | - | €44,441,880 | +€44.4m | |
| Affiliated companies | 280/1 | - | €44,441,880 | +€44.4m | |
| Participating interests | 280 | - | €44,441,880 | +€44.4m | |
| Current assets | 29/58 | €0 | €35,463 | +€35,463 | |
| Amounts receivable within one year | 40/41 | €0 | €604 | +€604 | |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €0 | €604 | +€604 | |
| Cash at bank and in hand | 54/58 | €0 | €34,858 | +€34,858 | |
| Deferred charges and accrued income | 490/1 | €0 | €0 | = | |
| Total equity and liabilities | 10/49 | €176,458 | €44,695,384 | +€44.5m | +25229.1% |
| Equity | 10/15 | €57,407 | €32,345,494 | +€32.3m | +56244.3% |
| Contributions | 10/11 | €650,000 | €32,340,000 | +€31.7m | +4875.4% |
| Capital | 10 | €650,000 | €32,340,000 | +€31.7m | +4875.4% |
| Issued capital | 100 | €650,000 | €32,340,000 | +€31.7m | +4875.4% |
| Reserves | 13 | €13,601 | €13,601 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,601 | €13,601 | = | 0.0% |
| Legal reserve | 130 | €13,601 | €13,601 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€606,194 | -€8,107 | +€598,087 | +98.7% |
| Amounts payable | 17/49 | €119,051 | €12,349,890 | +€12.2m | +10273.6% |
| Amounts payable after more than one year | 17 | - | €11,121,917 | +€11.1m | |
| Financial debts | 170/4 | - | €11,121,917 | +€11.1m | |
| Credit institutions | 173 | - | €11,121,917 | +€11.1m | |
| Amounts payable within one year | 42/48 | €118,732 | €1,227,973 | +€1.1m | +934.2% |
| Current portion of amounts payable after more than one year | 42 | - | €1,028,083 | +€1.0m | |
| Trade debts | 44 | €7,844 | €56,194 | +€48,350 | +616.4% |
| Suppliers | 440/4 | €7,844 | €56,194 | +€48,350 | +616.4% |
| Taxes, remuneration and social security | 45 | €1,969 | €0 | -€1,969 | -100.0% |
| Taxes | 450/3 | €1,969 | €0 | -€1,969 | -100.0% |
| Other amounts payable | 47/48 | €108,919 | €143,696 | +€34,778 | +31.9% |
| Accrued charges and deferred income | 492/3 | €320 | €0 | -€320 | -100.0% |
| Operating income | 70/76A | - | €60,000 | +€60,000 | |
| Turnover | 70 | - | €60,000 | +€60,000 | |
| Operating charges | 60/66A | - | €53,589 | +€53,589 | |
| Services and other goods | 61 | - | €30,718 | +€30,718 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,750 | €19,076 | +€326 | +1.7% |
| Other operating charges | 640/8 | €2,683 | €3,794 | +€1,111 | +41.4% |
| Gross operating margin | 9900 | €36,199 | - | -€36,199 | |
| Operating profit (loss) | 9901 | €14,766 | €6,411 | -€8,355 | -56.6% |
| Financial income | 75/76B | €1,217 | €0 | -€1,217 | -100.0% |
| Recurring financial income | 75 | €1,217 | €0 | -€1,217 | -100.0% |
| Other financial income | 752/9 | - | €0 | = | |
| Financial charges | 65/66B | €2,089 | €8,324 | +€6,235 | +298.4% |
| Recurring financial charges | 65 | €2,089 | €8,324 | +€6,235 | +298.4% |
| Debt charges | 650 | - | €2,045 | +€2,045 | |
| Other financial charges | 652/9 | - | €6,279 | +€6,279 | |
| Profit (loss) for the period before taxes | 9903 | €13,893 | -€1,913 | -€15,806 | |
| Profit (loss) for the period | 9904 | €13,893 | -€1,913 | -€15,806 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,893 | -€1,913 | -€15,806 |
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.