PERCO: 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.
PERCO
Largest movements
- Receivables within one year -€94,667
down €94,667 (-17.9%), from €528,939 to €434,271
of which Trade receivables: -€67,010
- Intangible fixed assets -€45,000
down €45,000 (-14.8%), from €303,164 to €258,164
- Cash +€43,349
up €43,349 (+60.3%), from €71,946 to €115,295
mainly Receivables within one year (+€94,667) and Depreciation (+€90,873)
- Stocks and contracts +€39,758
up €39,758 (+137.6%), from €28,901 to €68,658
- Trade debts -€77,606
down €77,606 (-14.9%), from €522,422 to €444,817
- Accrued charges and deferred income +€48,194
up €48,194 (+950.1%), from €5,073 to €53,267
- Debts after one year -€44,789
down €44,789 (-16.6%), from €269,178 to €224,390
- Other debts +€12,698
up €12,698 (+20.5%), from €62,000 to €74,698
- Gross operating margin +€41,300
up €41,300 (+31.7%), from €130,161 to €171,461
- Depreciation +€31,281
up €31,281 (+52.5%), from €59,591 to €90,873
- Financial income +€2,202
up €2,202 (+1519.0%), from €145 to €2,346
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 | €1,051,248 | €990,970 | -€60,278 | -5.7% |
| Fixed assets | 21/28 | €390,358 | €347,405 | -€42,954 | -11.0% |
| Intangible fixed assets | 21 | €303,164 | €258,164 | -€45,000 | -14.8% |
| Tangible fixed assets | 22/27 | €87,194 | €89,240 | +€2,046 | +2.3% |
| Plant, machinery and equipment | 23 | €1,923 | €961 | -€961 | -50.0% |
| Furniture and vehicles | 24 | €85,271 | €88,279 | +€3,008 | +3.5% |
| Current assets | 29/58 | €660,890 | €643,565 | -€17,325 | -2.6% |
| Stocks and contracts in progress | 3 | €28,901 | €68,658 | +€39,758 | +137.6% |
| Stocks | 30/36 | €28,901 | €68,658 | +€39,758 | +137.6% |
| Amounts receivable within one year | 40/41 | €528,939 | €434,271 | -€94,667 | -17.9% |
| Trade receivables | 40 | €474,442 | €407,433 | -€67,010 | -14.1% |
| Other amounts receivable | 41 | €54,496 | €26,839 | -€27,657 | -50.8% |
| Current investments | 50/53 | €5,564 | €5,564 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €71,946 | €115,295 | +€43,349 | +60.3% |
| Deferred charges and accrued income | 490/1 | €25,541 | €19,777 | -€5,764 | -22.6% |
| Total equity and liabilities | 10/49 | €1,051,248 | €990,970 | -€60,278 | -5.7% |
| Equity | 10/15 | €145,522 | €145,847 | +€325 | +0.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €124,829 | €124,829 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,970 | €18,970 | = | 0.0% |
| Other | 1319 | €18,970 | €18,970 | = | 0.0% |
| Distributable reserves | 133 | €105,859 | €105,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,101 | €2,426 | +€325 | +15.5% |
| Amounts payable | 17/49 | €905,726 | €845,123 | -€60,603 | -6.7% |
| Amounts payable after more than one year | 17 | €269,178 | €224,390 | -€44,789 | -16.6% |
| Financial debts | 170/4 | €269,178 | €224,390 | -€44,789 | -16.6% |
| Amounts payable within one year | 42/48 | €631,475 | €567,467 | -€64,008 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €44,243 | €44,789 | +€546 | +1.2% |
| Trade debts | 44 | €522,422 | €444,817 | -€77,606 | -14.9% |
| Suppliers | 440/4 | €522,422 | €444,817 | -€77,606 | -14.9% |
| Taxes, remuneration and social security | 45 | €2,810 | €3,164 | +€354 | +12.6% |
| Taxes | 450/3 | €2,810 | €3,164 | +€354 | +12.6% |
| Other amounts payable | 47/48 | €62,000 | €74,698 | +€12,698 | +20.5% |
| Accrued charges and deferred income | 492/3 | €5,073 | €53,267 | +€48,194 | +950.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,591 | €90,873 | +€31,281 | +52.5% |
| Other operating charges | 640/8 | €1,164 | €1,197 | +€33 | +2.8% |
| Gross operating margin | 9900 | €130,161 | €171,461 | +€41,300 | +31.7% |
| Operating profit (loss) | 9901 | €69,405 | €79,391 | +€9,986 | +14.4% |
| Financial income | 75/76B | €145 | €2,346 | +€2,202 | +1519.0% |
| Recurring financial income | 75 | €145 | €2,346 | +€2,202 | +1519.0% |
| Financial charges | 65/66B | €4,577 | €5,120 | +€543 | +11.9% |
| Recurring financial charges | 65 | €4,577 | €5,120 | +€543 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €64,973 | €76,618 | +€11,645 | +17.9% |
| Income taxes | 67/77 | €2,231 | €2,293 | +€62 | +2.8% |
| Profit (loss) for the period | 9904 | €62,743 | €74,325 | +€11,582 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €62,743 | €74,325 | +€11,582 | +18.5% |
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 6 October 2026 via checked.be.