PSEC IT: 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.
PSEC IT
Largest movements
- Receivables within one year +€38,599
up €38,599 (+220.6%), from €17,494 to €56,093
of which Other amounts receivable: +€30,111
- Cash -€6,787
down €6,787 (-41.3%), from €16,448 to €9,661
mainly Receivables within one year (-€38,599) and Investment in fixed assets (net) (-€1,867)
- Tangible fixed assets +€1,606
new in 2025: €1,606
- Deferred charges and accrued income +€744
up €744 (+54.3%), from €1,371 to €2,114
- Profit (loss) carried forward +€26,261
up €26,261 (+142.0%), from €18,490 to €44,751
- Trade debts +€4,964
up €4,964 (+359.5%), from €1,381 to €6,344
- Short-term financial debts +€1,597
up €1,597 (+245.5%), from €651 to €2,248
- Tax, wage and social debts +€1,340
up €1,340 (+10.9%), from €12,291 to €13,631
- Gross operating margin +€10,249
up €10,249 (+43.7%), from €23,437 to €33,685
- Taxes +€2,154
up €2,154 (+43.8%), from €4,913 to €7,067
- Financial income +€999
up €999 (+307.8%), from €325 to €1,324
- Other operating charges +€664
up €664 (+1252.6%), from €53 to €717
- Financial charges +€398
up €398 (+130.2%), from €305 to €703
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 | €35,312 | €69,473 | +€34,162 | +96.7% |
| Fixed assets | 21/28 | - | €1,606 | +€1,606 | |
| Tangible fixed assets | 22/27 | - | €1,606 | +€1,606 | |
| Furniture and vehicles | 24 | - | €1,606 | +€1,606 | |
| Current assets | 29/58 | €35,312 | €67,867 | +€32,556 | +92.2% |
| Amounts receivable within one year | 40/41 | €17,494 | €56,093 | +€38,599 | +220.6% |
| Trade receivables | 40 | €7,324 | €15,812 | +€8,488 | +115.9% |
| Other amounts receivable | 41 | €10,169 | €40,281 | +€30,111 | +296.1% |
| Cash at bank and in hand | 54/58 | €16,448 | €9,661 | -€6,787 | -41.3% |
| Deferred charges and accrued income | 490/1 | €1,371 | €2,114 | +€744 | +54.3% |
| Total equity and liabilities | 10/49 | €35,312 | €69,473 | +€34,162 | +96.7% |
| Equity | 10/15 | €20,990 | €47,251 | +€26,261 | +125.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,490 | €44,751 | +€26,261 | +142.0% |
| Amounts payable | 17/49 | €14,322 | €22,223 | +€7,901 | +55.2% |
| Amounts payable within one year | 42/48 | €14,322 | €22,223 | +€7,901 | +55.2% |
| Financial debts | 43 | €651 | €2,248 | +€1,597 | +245.5% |
| Other loans | 439 | €651 | €2,248 | +€1,597 | +245.5% |
| Trade debts | 44 | €1,381 | €6,344 | +€4,964 | +359.5% |
| Suppliers | 440/4 | €1,381 | €6,344 | +€4,964 | +359.5% |
| Taxes, remuneration and social security | 45 | €12,291 | €13,631 | +€1,340 | +10.9% |
| Taxes | 450/3 | €12,291 | €13,631 | +€1,340 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €261 | +€261 | |
| Other operating charges | 640/8 | €53 | €717 | +€664 | +1252.6% |
| Gross operating margin | 9900 | €23,437 | €33,685 | +€10,249 | +43.7% |
| Operating profit (loss) | 9901 | €23,384 | €32,708 | +€9,324 | +39.9% |
| Financial income | 75/76B | €325 | €1,324 | +€999 | +307.8% |
| Recurring financial income | 75 | €325 | €1,324 | +€999 | +307.8% |
| Financial charges | 65/66B | €305 | €703 | +€398 | +130.2% |
| Recurring financial charges | 65 | €305 | €703 | +€398 | +130.2% |
| Profit (loss) for the period before taxes | 9903 | €23,403 | €33,328 | +€9,925 | +42.4% |
| Income taxes | 67/77 | €4,913 | €7,067 | +€2,154 | +43.8% |
| Profit (loss) for the period | 9904 | €18,490 | €26,261 | +€7,771 | +42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,490 | €26,261 | +€7,771 | +42.0% |
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 5 October 2026 via checked.be.