PSI ALGEBRA: 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.
PSI ALGEBRA
Largest movements
- Tangible fixed assets -€4,284
down €4,284 (-15.6%), from €27,432 to €23,148
- Receivables within one year +€2,570
up €2,570 (+5.2%), from €49,343 to €51,913
of which Trade receivables: +€17,737
- Deferred charges and accrued income -€1,039
no longer reported in 2025 (was €1,039)
- Tax, wage and social debts -€11,727
down €11,727 (-74.2%), from €15,806 to €4,079
of which Remuneration and social security: -€7,194
- Trade debts +€10,783
up €10,783 (+350%), from €3,084 to €13,867
- Reserves -€1,518
down €1,518 (-2.6%), from €57,896 to €56,378
- Gross operating margin +€5,142
up €5,142 (+229%), from €2,248 to €7,390
- Financial charges -€3,387
down €3,387 (-80.5%), from €4,206 to €819
of which Non-recurring financial charges: -€3,034
- Staff costs +€2,759
no longer reported in 2025 (was -€2,759)
- Depreciation -€1,364
down €1,364 (-13.6%), from €10,057 to €8,693
- Financial income -€786
down €786 (-46.0%), from €1,709 to €923
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 | €77,856 | €75,324 | -€2,532 | -3.3% |
| Fixed assets | 21/28 | €27,432 | €23,148 | -€4,284 | -15.6% |
| Tangible fixed assets | 22/27 | €27,432 | €23,148 | -€4,284 | -15.6% |
| Plant, machinery and equipment | 23 | €27,432 | €23,148 | -€4,284 | -15.6% |
| Current assets | 29/58 | €50,424 | €52,176 | +€1,752 | +3.5% |
| Amounts receivable within one year | 40/41 | €49,343 | €51,913 | +€2,570 | +5.2% |
| Trade receivables | 40 | €23,240 | €40,977 | +€17,737 | +76.3% |
| Other amounts receivable | 41 | €26,103 | €10,936 | -€15,167 | -58.1% |
| Current investments | 50/53 | €42 | €42 | = | 0.0% |
| Cash at bank and in hand | 54/58 | - | €221 | +€221 | |
| Deferred charges and accrued income | 490/1 | €1,039 | - | -€1,039 | |
| Total equity and liabilities | 10/49 | €77,856 | €75,324 | -€2,532 | -3.3% |
| Equity | 10/15 | €58,896 | €57,378 | -€1,518 | -2.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €57,896 | €56,378 | -€1,518 | -2.6% |
| Distributable reserves | 133 | €57,896 | €56,378 | -€1,518 | -2.6% |
| Amounts payable | 17/49 | €18,960 | €17,946 | -€1,014 | -5.3% |
| Amounts payable within one year | 42/48 | €18,960 | €17,946 | -€1,014 | -5.3% |
| Financial debts | 43 | €70 | - | -€70 | |
| Credit institutions | 430/8 | €70 | - | -€70 | |
| Trade debts | 44 | €3,084 | €13,867 | +€10,783 | +350% |
| Suppliers | 440/4 | €3,084 | €13,867 | +€10,783 | +350% |
| Taxes, remuneration and social security | 45 | €15,806 | €4,079 | -€11,727 | -74.2% |
| Taxes | 450/3 | €8,612 | €4,079 | -€4,533 | -52.6% |
| Remuneration and social security | 454/9 | €7,194 | - | -€7,194 | |
| Remuneration, social security and pensions | 62 | -€2,759 | - | +€2,759 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,057 | €8,693 | -€1,364 | -13.6% |
| Other operating charges | 640/8 | €847 | €175 | -€672 | -79.3% |
| Gross operating margin | 9900 | €2,248 | €7,390 | +€5,142 | +229% |
| Operating profit (loss) | 9901 | -€5,897 | -€1,478 | +€4,419 | +74.9% |
| Financial income | 75/76B | €1,709 | €923 | -€786 | -46.0% |
| Recurring financial income | 75 | €1,709 | €923 | -€786 | -46.0% |
| Financial charges | 65/66B | €4,206 | €819 | -€3,387 | -80.5% |
| Recurring financial charges | 65 | €1,172 | €819 | -€353 | -30.1% |
| Non-recurring financial charges | 66B | €3,034 | - | -€3,034 | |
| Profit (loss) for the period before taxes | 9903 | -€8,394 | -€1,374 | +€7,020 | +83.6% |
| Income taxes | 67/77 | - | €144 | +€144 | |
| Profit (loss) for the period | 9904 | -€8,394 | -€1,518 | +€6,876 | +81.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,394 | -€1,518 | +€6,876 | +81.9% |
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 15 October 2026 via checked.be.