PSBC: what changed
What changed
PSBC
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€113,843
2024 · €105,945+€7,899
Equity
€20,425
2024 · €20,582-€157
Cash
€72,416
2024 · €32,688+€39,728
Balance sheet total
€159,986
2024 · €150,367+€9,619
Largest movements
Assets
- Cash +€39,728
up €39,728 (+122%), from €32,688 to €72,416
mainly Net result for the year (+€113,843) and Current investments (+€25,000)
- Current investments -€25,000
down €25,000 (-33.3%), from €75,000 to €50,000
- Tangible fixed assets -€4,303
down €4,303 (-50.3%), from €8,557 to €4,254
of which Furniture and vehicles: -€3,201
Equity and liabilities
- Other debts +€8,250
up €8,250 (+7.7%), from €106,832 to €115,082
Income statement
- Gross operating margin +€11,910
up €11,910 (+8.6%), from €139,199 to €151,109
- Taxes +€2,516
up €2,516 (+8.3%), from €30,146 to €32,662
- Financial income -€2,071
down €2,071 (-69.8%), from €2,969 to €898
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€105,945
Gross operating margin
+€11,910
Depreciation
+€815
Other operating charges
-€257
Financial income
-€2,071
Financial charges
+€18
Taxes
-€2,516
Result 2025
€113,843
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€128,728
Investment
+€25,000
Financing
-€114,000
Cash 2024
€32,688
From operations (derived)
+€128,728
Net result for the year
+€113,843
Depreciation
+€4,303
Receivables within one year
+€918
Smaller working-capital items
+€31
Trade debts
+€1,080
Tax, wage and social debts
+€304
Other debts
+€8,250
Investment (derived)
+€25,000
Current investments
+€25,000
Financing
-€114,000
Contributions, distributions and other
-€114,000
Cash 2025
€72,416
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €150,367 | €159,986 | +€9,619 | +6.4% |
| Fixed assets | 21/28 | €8,557 | €4,254 | -€4,303 | -50.3% |
| Tangible fixed assets | 22/27 | €8,557 | €4,254 | -€4,303 | -50.3% |
| Plant, machinery and equipment | 23 | €1,652 | €550 | -€1,102 | -66.7% |
| Furniture and vehicles | 24 | €6,905 | €3,704 | -€3,201 | -46.4% |
| Current assets | 29/58 | €141,811 | €155,732 | +€13,922 | +9.8% |
| Amounts receivable within one year | 40/41 | €29,988 | €29,070 | -€918 | -3.1% |
| Trade receivables | 40 | €29,290 | €29,070 | -€219 | -0.7% |
| Other amounts receivable | 41 | €698 | - | -€698 | |
| Current investments | 50/53 | €75,000 | €50,000 | -€25,000 | -33.3% |
| Cash at bank and in hand | 54/58 | €32,688 | €72,416 | +€39,728 | +122% |
| Deferred charges and accrued income | 490/1 | €4,135 | €4,246 | +€111 | +2.7% |
| Total equity and liabilities | 10/49 | €150,367 | €159,986 | +€9,619 | +6.4% |
| Equity | 10/15 | €20,582 | €20,425 | -€157 | -0.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €177 | €20 | -€157 | -88.7% |
| Amounts payable | 17/49 | €129,785 | €139,561 | +€9,775 | +7.5% |
| Amounts payable within one year | 42/48 | €129,763 | €139,396 | +€9,633 | +7.4% |
| Trade debts | 44 | €907 | €1,987 | +€1,080 | +119% |
| Suppliers | 440/4 | €907 | €1,987 | +€1,080 | +119% |
| Taxes, remuneration and social security | 45 | €22,023 | €22,327 | +€304 | +1.4% |
| Taxes | 450/3 | €22,023 | €22,327 | +€304 | +1.4% |
| Other amounts payable | 47/48 | €106,832 | €115,082 | +€8,250 | +7.7% |
| Accrued charges and deferred income | 492/3 | €23 | €165 | +€142 | +621% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,117 | €4,303 | -€815 | -15.9% |
| Other operating charges | 640/8 | €802 | €1,058 | +€257 | +32.0% |
| Gross operating margin | 9900 | €139,199 | €151,109 | +€11,910 | +8.6% |
| Operating profit (loss) | 9901 | €133,280 | €145,748 | +€12,468 | +9.4% |
| Financial income | 75/76B | €2,969 | €898 | -€2,071 | -69.8% |
| Recurring financial income | 75 | €2,969 | €898 | -€2,071 | -69.8% |
| Financial charges | 65/66B | €158 | €140 | -€18 | -11.3% |
| Recurring financial charges | 65 | €158 | €140 | -€18 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €136,091 | €146,505 | +€10,414 | +7.7% |
| Income taxes | 67/77 | €30,146 | €32,662 | +€2,516 | +8.3% |
| Profit (loss) for the period | 9904 | €105,945 | €113,843 | +€7,899 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €105,945 | €113,843 | +€7,899 | +7.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.