PSCHEEN: 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.
PSCHEEN
Largest movements
- Stocks and contracts +€16,068
up €16,068 (+115%), from €14,023 to €30,091
- Receivables within one year +€13,382
up €13,382 (+9.6%), from €139,551 to €152,934
of which Trade receivables: +€17,876
- Intangible fixed assets -€9,396
down €9,396 (-14.0%), from €66,890 to €57,493
- Tangible fixed assets -€5,303
down €5,303 (-75.0%), from €7,072 to €1,769
- Trade debts -€42,126
down €42,126 (-39.9%), from €105,495 to €63,369
- Tax, wage and social debts +€38,036
up €38,036 (+45.2%), from €84,141 to €122,177
of which Taxes: +€23,000
- Profit (loss) carried forward +€34,997
up €34,997 (+2,068%), from €1,692 to €36,690
- Current portion of long-term debt -€12,875
down €12,875 (-25.1%), from €51,287 to €38,411
- Debts after one year -€4,417
no longer reported in 2025 (was €4,417)
- Staff costs -€79,542
down €79,542 (-12.2%), from €651,553 to €572,012
- Taxes +€13,843
up €13,843 (+1,849%), from €749 to €14,592
- Gross operating margin -€7,514
down €7,514 (-1.1%), from €656,431 to €648,917
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.
Derived cash bridge
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 | €282,946 | €299,190 | +€16,244 | +5.7% |
| Fixed assets | 21/28 | €79,512 | €64,813 | -€14,699 | -18.5% |
| Intangible fixed assets | 21 | €66,890 | €57,493 | -€9,396 | -14.0% |
| Tangible fixed assets | 22/27 | €7,072 | €1,769 | -€5,303 | -75.0% |
| Furniture and vehicles | 24 | €7,072 | €1,769 | -€5,303 | -75.0% |
| Financial fixed assets | 28 | €5,550 | €5,550 | = | 0.0% |
| Current assets | 29/58 | €203,434 | €234,377 | +€30,943 | +15.2% |
| Stocks and contracts in progress | 3 | €14,023 | €30,091 | +€16,068 | +115% |
| Stocks | 30/36 | €14,023 | €30,091 | +€16,068 | +115% |
| Amounts receivable within one year | 40/41 | €139,551 | €152,934 | +€13,382 | +9.6% |
| Trade receivables | 40 | €135,028 | €152,904 | +€17,876 | +13.2% |
| Other amounts receivable | 41 | €4,524 | €29 | -€4,494 | -99.3% |
| Cash at bank and in hand | 54/58 | €43,108 | €44,629 | +€1,521 | +3.5% |
| Deferred charges and accrued income | 490/1 | €6,751 | €6,723 | -€28 | -0.4% |
| Total equity and liabilities | 10/49 | €282,946 | €299,190 | +€16,244 | +5.7% |
| Equity | 10/15 | €24,752 | €59,750 | +€34,997 | +141% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,692 | €36,690 | +€34,997 | +2,068% |
| Amounts payable | 17/49 | €258,193 | €239,440 | -€18,753 | -7.3% |
| Amounts payable after more than one year | 17 | €4,417 | - | -€4,417 | |
| Financial debts | 170/4 | €4,417 | - | -€4,417 | |
| Amounts payable within one year | 42/48 | €253,776 | €239,440 | -€14,336 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €51,287 | €38,411 | -€12,875 | -25.1% |
| Financial debts | 43 | - | €2,893 | +€2,893 | |
| Credit institutions | 430/8 | - | €2,893 | +€2,893 | |
| Trade debts | 44 | €105,495 | €63,369 | -€42,126 | -39.9% |
| Suppliers | 440/4 | €105,495 | €63,369 | -€42,126 | -39.9% |
| Taxes, remuneration and social security | 45 | €84,141 | €122,177 | +€38,036 | +45.2% |
| Taxes | 450/3 | €10,126 | €33,126 | +€23,000 | +227% |
| Remuneration and social security | 454/9 | €74,015 | €89,050 | +€15,036 | +20.3% |
| Other amounts payable | 47/48 | €12,854 | €12,590 | -€263 | -2.0% |
| Remuneration, social security and pensions | 62 | €651,553 | €572,012 | -€79,542 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,810 | €21,249 | +€440 | +2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €140 | +€140 | |
| Other operating charges | 640/8 | €2,625 | €1,472 | -€1,153 | -43.9% |
| Non-recurring operating charges | 66A | €9,247 | - | -€9,247 | |
| Gross operating margin | 9900 | €656,431 | €648,917 | -€7,514 | -1.1% |
| Operating profit (loss) | 9901 | -€27,804 | €54,044 | +€81,849 | |
| Financial income | 75/76B | €98 | €2,651 | +€2,554 | +2,616% |
| Recurring financial income | 75 | €98 | €2,651 | +€2,554 | +2,616% |
| Financial charges | 65/66B | €4,504 | €7,107 | +€2,603 | +57.8% |
| Recurring financial charges | 65 | €4,504 | €7,107 | +€2,603 | +57.8% |
| Profit (loss) for the period before taxes | 9903 | -€32,210 | €49,589 | +€81,799 | |
| Income taxes | 67/77 | €749 | €14,592 | +€13,843 | +1,849% |
| Profit (loss) for the period | 9904 | -€32,959 | €34,997 | +€67,956 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,959 | €34,997 | +€67,956 |
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 14 October 2026 via checked.be.