PeMaCS: 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.
PeMaCS
Largest movements
- Receivables within one year +€16,605
up €16,605 (+62.4%), from €26,601 to €43,206
of which Other amounts receivable: +€15,952
- Deferred charges and accrued income +€4,901
up €4,901 (+29.5%), from €16,625 to €21,525
- Cash +€4,169
up €4,169 (+1567.1%), from €266 to €4,435
mainly Other debts (+€226,899) and Net result for the year (+€29,683)
- Other debts +€226,899
up €226,899, from €0 to €226,899
- Reserves -€197,128
down €197,128 (-69.4%), from €284,226 to €87,098
- Tax, wage and social debts -€15,481
down €15,481 (-63.1%), from €24,544 to €9,063
- Current portion of long-term debt +€7,000
new in 2025: €7,000
- Gross operating margin +€5,528
up €5,528 (+16.0%), from €34,529 to €40,058
- Write-downs +€3,400
up €3,400, from €0 to €3,400
- Taxes -€2,439
down €2,439 (-14.4%), from €16,970 to €14,531
- Financial income +€915
up €915 (+9.3%), from €9,822 to €10,737
- Other operating charges +€815
up €815 (+162.1%), from €502 to €1,317
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 | €321,711 | €343,000 | +€21,289 | +6.6% |
| Fixed assets | 21/28 | €2,396 | €1,410 | -€986 | -41.1% |
| Tangible fixed assets | 22/27 | €2,396 | €1,410 | -€986 | -41.1% |
| Furniture and vehicles | 24 | €2,396 | €1,410 | -€986 | -41.1% |
| Current assets | 29/58 | €319,316 | €341,590 | +€22,275 | +7.0% |
| Amounts receivable after more than one year | 29 | €272,425 | €272,425 | = | 0.0% |
| Other amounts receivable | 291 | €272,425 | €272,425 | = | 0.0% |
| Stocks and contracts in progress | 3 | €3,400 | €0 | -€3,400 | -100.0% |
| Stocks | 30/36 | €3,400 | €0 | -€3,400 | -100.0% |
| Amounts receivable within one year | 40/41 | €26,601 | €43,206 | +€16,605 | +62.4% |
| Trade receivables | 40 | €4,840 | €5,494 | +€654 | +13.5% |
| Other amounts receivable | 41 | €21,761 | €37,712 | +€15,952 | +73.3% |
| Cash at bank and in hand | 54/58 | €266 | €4,435 | +€4,169 | +1567.1% |
| Deferred charges and accrued income | 490/1 | €16,625 | €21,525 | +€4,901 | +29.5% |
| Total equity and liabilities | 10/49 | €321,711 | €343,000 | +€21,289 | +6.6% |
| Equity | 10/15 | €296,626 | €99,498 | -€197,128 | -66.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €284,226 | €87,098 | -€197,128 | -69.4% |
| Distributable reserves | 133 | €284,226 | €87,098 | -€197,128 | -69.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €25,086 | €243,503 | +€218,417 | +870.7% |
| Amounts payable within one year | 42/48 | €25,086 | €243,503 | +€218,417 | +870.7% |
| Current portion of amounts payable after more than one year | 42 | - | €7,000 | +€7,000 | |
| Trade debts | 44 | €542 | €540 | -€1 | -0.3% |
| Suppliers | 440/4 | €542 | €540 | -€1 | -0.3% |
| Taxes, remuneration and social security | 45 | €24,544 | €9,063 | -€15,481 | -63.1% |
| Taxes | 450/3 | €24,544 | €9,063 | -€15,481 | -63.1% |
| Other amounts payable | 47/48 | €0 | €226,899 | +€226,899 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €561 | €986 | +€424 | +75.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €3,400 | +€3,400 | |
| Other operating charges | 640/8 | €502 | €1,317 | +€815 | +162.1% |
| Gross operating margin | 9900 | €34,529 | €40,058 | +€5,528 | +16.0% |
| Operating profit (loss) | 9901 | €33,465 | €34,355 | +€890 | +2.7% |
| Financial income | 75/76B | €9,822 | €10,737 | +€915 | +9.3% |
| Recurring financial income | 75 | €9,822 | €10,737 | +€915 | +9.3% |
| Financial charges | 65/66B | €288 | €877 | +€589 | +204.2% |
| Recurring financial charges | 65 | €288 | €877 | +€589 | +204.2% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €42,999 | €44,215 | +€1,216 | +2.8% |
| Income taxes | 67/77 | €16,970 | €14,531 | -€2,439 | -14.4% |
| Profit (loss) for the period | 9904 | €26,029 | €29,683 | +€3,655 | +14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,029 | €29,683 | +€3,655 | +14.0% |
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 4 October 2026 via checked.be.