PECM: 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.
PECM
Largest movements
- Cash +€47,112
up €47,112 (+82.0%), from €57,434 to €104,546
mainly Net result for the year (+€56,171) and Depreciation (+€15,382)
- Tangible fixed assets -€15,382
down €15,382 (-25.2%), from €61,103 to €45,722
- Receivables within one year +€4,133
up €4,133 (+9.8%), from €42,275 to €46,408
- Reserves +€56,171
up €56,171 (+135.5%), from €41,452 to €97,623
- Debts after one year -€12,855
down €12,855 (-31.0%), from €41,461 to €28,606
- Tax, wage and social debts -€8,832
down €8,832 (-35.4%), from €24,930 to €16,098
- Trade debts +€2,478
up €2,478 (+9.4%), from €26,353 to €28,831
- Other debts -€2,116
down €2,116 (-33.6%), from €6,298 to €4,182
- Gross operating margin +€16,354
up €16,354 (+22.3%), from €73,219 to €89,573
- Taxes +€3,796
up €3,796 (+34.4%), from €11,035 to €14,830
- Other operating charges -€2,488
down €2,488 (-73.7%), from €3,378 to €890
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 | €160,813 | €196,675 | +€35,862 | +22.3% |
| Fixed assets | 21/28 | €61,103 | €45,722 | -€15,382 | -25.2% |
| Tangible fixed assets | 22/27 | €61,103 | €45,722 | -€15,382 | -25.2% |
| Furniture and vehicles | 24 | €61,103 | €45,722 | -€15,382 | -25.2% |
| Current assets | 29/58 | €99,709 | €150,954 | +€51,244 | +51.4% |
| Amounts receivable within one year | 40/41 | €42,275 | €46,408 | +€4,133 | +9.8% |
| Trade receivables | 40 | €42,275 | €46,408 | +€4,133 | +9.8% |
| Cash at bank and in hand | 54/58 | €57,434 | €104,546 | +€47,112 | +82.0% |
| Total equity and liabilities | 10/49 | €160,813 | €196,675 | +€35,862 | +22.3% |
| Equity | 10/15 | €49,452 | €105,623 | +€56,171 | +113.6% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €41,452 | €97,623 | +€56,171 | +135.5% |
| Distributable reserves | 133 | €41,452 | €97,623 | +€56,171 | +135.5% |
| Amounts payable | 17/49 | €111,361 | €91,052 | -€20,309 | -18.2% |
| Amounts payable after more than one year | 17 | €41,461 | €28,606 | -€12,855 | -31.0% |
| Financial debts | 170/4 | €41,461 | €28,606 | -€12,855 | -31.0% |
| Amounts payable within one year | 42/48 | €69,900 | €61,966 | -€7,934 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €12,319 | €12,855 | +€536 | +4.3% |
| Trade debts | 44 | €26,353 | €28,831 | +€2,478 | +9.4% |
| Suppliers | 440/4 | €26,353 | €28,831 | +€2,478 | +9.4% |
| Taxes, remuneration and social security | 45 | €24,930 | €16,098 | -€8,832 | -35.4% |
| Taxes | 450/3 | €24,930 | €16,098 | -€8,832 | -35.4% |
| Other amounts payable | 47/48 | €6,298 | €4,182 | -€2,116 | -33.6% |
| Accrued charges and deferred income | 492/3 | - | €480 | +€480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,801 | €15,382 | +€581 | +3.9% |
| Other operating charges | 640/8 | €3,378 | €890 | -€2,488 | -73.7% |
| Gross operating margin | 9900 | €73,219 | €89,573 | +€16,354 | +22.3% |
| Operating profit (loss) | 9901 | €55,039 | €73,301 | +€18,262 | +33.2% |
| Financial income | 75/76B | €116 | €13 | -€103 | -88.5% |
| Recurring financial income | 75 | €116 | €13 | -€103 | -88.5% |
| Financial charges | 65/66B | €2,669 | €2,312 | -€357 | -13.4% |
| Recurring financial charges | 65 | €2,669 | €2,312 | -€357 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €52,486 | €71,002 | +€18,516 | +35.3% |
| Income taxes | 67/77 | €11,035 | €14,830 | +€3,796 | +34.4% |
| Profit (loss) for the period | 9904 | €41,452 | €56,171 | +€14,720 | +35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,452 | €56,171 | +€14,720 | +35.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.