PFSIC: what changed
Two financial 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.
PFSIC
Largest movements
- Financial fixed assets +€9.9m
new in 2025: €9.9m
- Current investments -€9.7m
no longer reported in 2025 (was €9.7m)
- Other debts +€262,877
new in 2025: €262,877
- Financial income -€29.3m
down €29.3m (-99.1%), from €29.5m to €258,089
of which Non-recurring financial income: -€28.2m
- Gross operating margin -€145,786
down €145,786, from €145,698 to -€88
- Financial charges -€68,590
down €68,590 (-99.3%), from €69,073 to €484
- Taxes +€19,785
up €19,785 (+43.1%), from €45,897 to €65,682
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 | €9,704,418 | €9,917,172 | +€212,754 | +2.2% |
| Fixed assets | 21/28 | - | €9,872,877 | +€9.9m | |
| Financial fixed assets | 28 | - | €9,872,877 | +€9.9m | |
| Current assets | 29/58 | €9,704,418 | €44,296 | -€9.7m | -99.5% |
| Amounts receivable within one year | 40/41 | - | €28 | +€28 | |
| Other amounts receivable | 41 | - | €28 | +€28 | |
| Current investments | 50/53 | €9,650,000 | - | -€9.7m | |
| Cash at bank and in hand | 54/58 | €54,418 | €44,267 | -€10,151 | -18.7% |
| Total equity and liabilities | 10/49 | €9,704,418 | €9,917,172 | +€212,754 | +2.2% |
| Equity | 10/15 | €9,701,079 | €9,628,895 | -€72,184 | -0.7% |
| Contributions | 10/11 | €8,750,000 | €8,750,000 | = | 0.0% |
| Capital | 10 | €8,750,000 | €8,750,000 | = | 0.0% |
| Issued capital | 100 | €8,750,000 | €8,750,000 | = | 0.0% |
| Reserves | 13 | €875,000 | €875,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €875,000 | €875,000 | = | 0.0% |
| Legal reserve | 130 | €875,000 | €875,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,079 | €3,895 | -€72,184 | -94.9% |
| Amounts payable | 17/49 | €3,340 | €288,278 | +€284,938 | +8532.2% |
| Amounts payable within one year | 42/48 | €3,340 | €288,278 | +€284,938 | +8532.2% |
| Taxes, remuneration and social security | 45 | €3,340 | €25,401 | +€22,061 | +660.6% |
| Taxes | 450/3 | €3,340 | €25,401 | +€22,061 | +660.6% |
| Other amounts payable | 47/48 | - | €262,877 | +€262,877 | |
| Other operating charges | 640/8 | €1,086 | €1,143 | +€57 | +5.3% |
| Gross operating margin | 9900 | €145,698 | -€88 | -€145,786 | |
| Operating profit (loss) | 9901 | €144,613 | -€1,230 | -€145,843 | |
| Financial income | 75/76B | €29,514,669 | €258,089 | -€29.3m | -99.1% |
| Recurring financial income | 75 | €1,285,386 | €258,089 | -€1.0m | -79.9% |
| Non-recurring financial income | 76B | €28,229,282 | - | -€28.2m | |
| Financial charges | 65/66B | €69,073 | €484 | -€68,590 | -99.3% |
| Recurring financial charges | 65 | €69,073 | €484 | -€68,590 | -99.3% |
| Profit (loss) for the period before taxes | 9903 | €29,590,208 | €256,375 | -€29.3m | -99.1% |
| Income taxes | 67/77 | €45,897 | €65,682 | +€19,785 | +43.1% |
| Profit (loss) for the period | 9904 | €29,544,311 | €190,693 | -€29.4m | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,544,311 | €190,693 | -€29.4m | -99.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.