PforC: 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.
PforC
Largest movements
- Stocks and contracts -€2.0m
down €2.0m (-75.9%), from €2.6m to €626,500
- Current investments +€425,000
new in 2025: €425,000
- Cash -€145,175
down €145,175 (-52.6%), from €275,904 to €130,729
mainly Other debts (-€1.2m) and Current investments (-€425,000)
- Other debts -€1.2m
down €1.2m (-87.5%), from €1.3m to €166,310
- Reserves -€281,258
no longer reported in 2025 (was €281,258)
- Debts after one year -€140,000
down €140,000 (-13.2%), from €1.1m to €921,667
- Tax, wage and social debts -€53,143
down €53,143 (-90.3%), from €58,823 to €5,681
- Profit (loss) carried forward -€47,900
new in 2025: -€47,900
- Gross operating margin -€222,204
down €222,204 (-80.7%), from €275,368 to €53,163
- Financial charges -€72,712
down €72,712 (-42.3%), from €171,740 to €99,028
- Financial income -€48,312
down €48,312 (-76.9%), from €62,824 to €14,512
- Taxes -€39,960
no longer reported in 2025 (was €39,960)
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 | €2,963,017 | €1,270,129 | -€1.7m | -57.1% |
| Formation expenses | 20 | €1,591 | €360 | -€1,231 | -77.4% |
| Fixed assets | 21/28 | €72,500 | €58,339 | -€14,160 | -19.5% |
| Tangible fixed assets | 22/27 | €72,500 | €58,339 | -€14,160 | -19.5% |
| Plant, machinery and equipment | 23 | €72,500 | €58,339 | -€14,160 | -19.5% |
| Current assets | 29/58 | €2,888,926 | €1,211,430 | -€1.7m | -58.1% |
| Stocks and contracts in progress | 3 | €2,596,528 | €626,500 | -€2.0m | -75.9% |
| Stocks | 30/36 | €2,596,528 | €626,500 | -€2.0m | -75.9% |
| Amounts receivable within one year | 40/41 | €13,966 | €29,201 | +€15,235 | +109.1% |
| Trade receivables | 40 | €6,564 | €24,679 | +€18,116 | +276.0% |
| Other amounts receivable | 41 | €7,403 | €4,522 | -€2,881 | -38.9% |
| Current investments | 50/53 | - | €425,000 | +€425,000 | |
| Cash at bank and in hand | 54/58 | €275,904 | €130,729 | -€145,175 | -52.6% |
| Deferred charges and accrued income | 490/1 | €2,528 | - | -€2,528 | |
| Total equity and liabilities | 10/49 | €2,963,017 | €1,270,129 | -€1.7m | -57.1% |
| Equity | 10/15 | €331,258 | €2,100 | -€329,158 | -99.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €281,258 | - | -€281,258 | |
| Distributable reserves | 133 | €281,258 | - | -€281,258 | |
| Profit (loss) carried forward | 14 | - | -€47,900 | -€47,900 | |
| Amounts payable | 17/49 | €2,631,758 | €1,268,029 | -€1.4m | -51.8% |
| Amounts payable after more than one year | 17 | €1,061,667 | €921,667 | -€140,000 | -13.2% |
| Financial debts | 170/4 | €1,061,667 | €921,667 | -€140,000 | -13.2% |
| Amounts payable within one year | 42/48 | €1,570,092 | €346,362 | -€1.2m | -77.9% |
| Current portion of amounts payable after more than one year | 42 | €140,000 | €140,000 | = | 0.0% |
| Financial debts | 43 | - | €501 | +€501 | |
| Credit institutions | 430/8 | - | €501 | +€501 | |
| Trade debts | 44 | €35,650 | €33,870 | -€1,779 | -5.0% |
| Suppliers | 440/4 | €35,650 | €33,870 | -€1,779 | -5.0% |
| Taxes, remuneration and social security | 45 | €58,823 | €5,681 | -€53,143 | -90.3% |
| Taxes | 450/3 | €58,823 | €5,681 | -€53,143 | -90.3% |
| Other amounts payable | 47/48 | €1,335,619 | €166,310 | -€1.2m | -87.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,391 | €15,391 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,570 | €1,157 | -€413 | -26.3% |
| Gross operating margin | 9900 | €275,368 | €53,163 | -€222,204 | -80.7% |
| Operating profit (loss) | 9901 | €258,407 | €36,615 | -€221,791 | -85.8% |
| Financial income | 75/76B | €62,824 | €14,512 | -€48,312 | -76.9% |
| Recurring financial income | 75 | €62,824 | €14,512 | -€48,312 | -76.9% |
| Financial charges | 65/66B | €171,740 | €99,028 | -€72,712 | -42.3% |
| Recurring financial charges | 65 | €171,740 | €99,028 | -€72,712 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €149,491 | -€47,900 | -€197,391 | |
| Income taxes | 67/77 | €39,960 | - | -€39,960 | |
| Profit (loss) for the period | 9904 | €109,532 | -€47,900 | -€157,431 | |
| Profit (loss) for the period to be appropriated | 9905 | €109,532 | -€47,900 | -€157,431 |
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 4 October 2026 via checked.be.