PSC Elsene: 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.
What changed
PSC Elsene
NACE 86.104, Human health activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€10,461
2024 · €86,716-€97,176
Equity
€4.2m
2024 · €4.3m-€85,221
Cash
€702,421
2024 · €1.5m-€808,945
Balance sheet total
€8.1m
2024 · €8.1m+€20,568
Largest movements
Assets
- Current investments +€934,588
up €934,588 (+88.8%), from €1.1m to €2.0m
- Cash -€808,945
down €808,945 (-53.5%), from €1.5m to €702,421
mainly Current investments (-€934,588) and Receivables after one year (-€140,000)
- Financial fixed assets -€160,000
no longer reported in 2025 (was €160,000)
- Receivables after one year +€140,000
new in 2025: €140,000
- Tangible fixed assets -€116,488
down €116,488 (-2.7%), from €4.4m to €4.2m
of which Land and buildings: -€165,324
Equity and liabilities
- Debts within one year +€184,959
up €184,959 (+6.8%), from €2.7m to €2.9m
of which Trade debts: +€169,472
- Debts after one year -€100,095
down €100,095 (-8.9%), from €1.1m to €1.0m
of which Financial debts: -€100,095
Income statement
- Gross operating margin +€131,005
up €131,005 (+3.0%), from €4.3m to €4.4m
- Purchases and services +€67,818
up €67,818 (+5.6%), from €1.2m to €1.3m
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.
Result 2024
€86,716
Gross operating margin
+€131,005
Staff costs
-€3,947
Depreciation
+€6,983
Write-downs
-€1,744
Other operating charges
-€9,624
Other operating items
-€224,826
Financial income
+€8,924
Financial charges
-€3,945
Result 2025
-€10,461
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.
From operations
+€354,252
Investment
-€988,342
Financing
-€174,855
Cash 2024
€1.5m
From operations (derived)
+€354,252
Net result for the year
-€10,461
Depreciation
+€335,727
Receivables after one year
-€140,000
Smaller working-capital items
+€1,154
Receivables within one year
-€38,052
Provisions
+€26,715
Debts within one year
+€184,959
Accrued charges and deferred income
-€5,792
Investment (derived)
-€988,342
Investment in fixed assets (net)
-€53,753
Current investments
-€934,588
Financing
-€174,855
Debts after one year
-€100,095
Contributions, distributions and other
-€74,760
Cash 2025
€702,421
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,123,813 | €8,144,381 | +€20,568 | +0.3% |
| Fixed assets | 21/28 | €4,539,062 | €4,257,089 | -€281,974 | -6.2% |
| Intangible fixed assets | 21 | €15,094 | €9,608 | -€5,486 | -36.3% |
| Tangible fixed assets | 22/27 | €4,363,968 | €4,247,481 | -€116,488 | -2.7% |
| Land and buildings | 22 | €4,167,990 | €4,002,665 | -€165,324 | -4.0% |
| Furniture and vehicles | 24 | €195,979 | €194,315 | -€1,663 | -0.8% |
| Leasing and similar rights | 25 | - | €50,500 | +€50,500 | |
| Financial fixed assets | 28 | €160,000 | - | -€160,000 | |
| Current assets | 29/58 | €3,584,751 | €3,887,292 | +€302,541 | +8.4% |
| Amounts receivable after more than one year | 29 | - | €140,000 | +€140,000 | |
| Other amounts receivable | 291 | - | €140,000 | +€140,000 | |
| Stocks and contracts in progress | 3 | €21,138 | €20,214 | -€923 | -4.4% |
| Stocks | 30/36 | €21,138 | €20,214 | -€923 | -4.4% |
| Amounts receivable within one year | 40/41 | €943,798 | €981,849 | +€38,052 | +4.0% |
| Trade receivables | 40 | €780,113 | €867,537 | +€87,424 | +11.2% |
| Other amounts receivable | 41 | €163,685 | €114,312 | -€49,372 | -30.2% |
| Current investments | 50/53 | €1,053,016 | €1,987,604 | +€934,588 | +88.8% |
| Cash at bank and in hand | 54/58 | €1,511,366 | €702,421 | -€808,945 | -53.5% |
| Deferred charges and accrued income | 490/1 | €55,434 | €55,203 | -€231 | -0.4% |
| Total equity and liabilities | 10/49 | €8,123,813 | €8,144,381 | +€20,568 | +0.3% |
| Equity | 10/15 | €4,250,309 | €4,165,089 | -€85,221 | -2.0% |
| Contributions | 10/11 | €271,954 | €271,954 | = | 0.0% |
| Capital | 10 | €271,954 | €271,954 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,683,787 | €2,673,326 | -€10,461 | -0.4% |
| Investment grants | 15 | €1,294,569 | €1,219,809 | -€74,760 | -5.8% |
| Provisions and deferred taxes | 16 | €28,617 | €55,332 | +€26,715 | +93.4% |
| Provisions for liabilities and charges | 160/5 | €28,617 | €55,332 | +€26,715 | +93.4% |
| Other liabilities and charges | 164/5 | €28,617 | €55,332 | +€26,715 | +93.4% |
| Amounts payable | 17/49 | €3,844,887 | €3,923,960 | +€79,073 | +2.1% |
| Amounts payable after more than one year | 17 | €1,125,149 | €1,025,054 | -€100,095 | -8.9% |
| Financial debts | 170/4 | €1,105,126 | €1,005,031 | -€100,095 | -9.1% |
| Other amounts payable | 178/9 | €20,023 | €20,023 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,712,197 | €2,897,156 | +€184,959 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €129,284 | €137,849 | +€8,566 | +6.6% |
| Trade debts | 44 | €1,859,755 | €2,029,227 | +€169,472 | +9.1% |
| Suppliers | 440/4 | €1,859,755 | €2,029,227 | +€169,472 | +9.1% |
| Taxes, remuneration and social security | 45 | €707,773 | €718,963 | +€11,190 | +1.6% |
| Taxes | 450/3 | €145,808 | €149,168 | +€3,360 | +2.3% |
| Remuneration and social security | 454/9 | €561,965 | €569,795 | +€7,829 | +1.4% |
| Accrued charges and deferred income | 492/3 | €7,541 | €1,750 | -€5,792 | -76.8% |
| Turnover | 70 | €4,151,000 | €4,163,527 | +€12,526 | +0.3% |
| Non-recurring operating income | 76A | €94,799 | €227,786 | +€132,986 | +140.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,205,139 | €1,272,958 | +€67,818 | +5.6% |
| Remuneration, social security and pensions | 62 | €3,938,012 | €3,941,959 | +€3,947 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €342,711 | €335,727 | -€6,983 | -2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,138 | €607 | +€1,744 | |
| Other operating charges | 640/8 | €5,908 | €15,533 | +€9,624 | +162.9% |
| Non-recurring operating charges | 66A | €17,420 | €220,706 | +€203,286 | +1167.0% |
| Gross operating margin | 9900 | €4,314,427 | €4,445,432 | +€131,005 | +3.0% |
| Operating profit (loss) | 9901 | €6,339 | -€95,815 | -€102,154 | |
| Financial income | 75/76B | €104,697 | €113,621 | +€8,924 | +8.5% |
| Recurring financial income | 75 | €104,697 | €113,621 | +€8,924 | +8.5% |
| Financial charges | 65/66B | €24,320 | €28,266 | +€3,945 | +16.2% |
| Recurring financial charges | 65 | €24,320 | €28,266 | +€3,945 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €86,716 | -€10,461 | -€97,176 | |
| Profit (loss) for the period | 9904 | €86,716 | -€10,461 | -€97,176 | |
| Profit (loss) for the period to be appropriated | 9905 | €86,716 | -€10,461 | -€97,176 |
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 7 October 2026 via checked.be.