PSIMCO: what changed
PSIMCO
Largest movements
- Receivables within one year -€19,718
down €19,718 (-49.3%), from €40,001 to €20,283
of which Trade receivables: -€16,986
- Stocks and contracts +€13,686
up €13,686 (+45.6%), from €30,003 to €43,689
- Cash +€10,759
up €10,759 (+22.4%), from €48,004 to €58,763
mainly Receivables within one year (+€19,718) and Depreciation (+€11,734)
- Tangible fixed assets -€8,251
down €8,251 (-35.5%), from €23,274 to €15,023
of which Furniture and vehicles: -€5,258
- Deferred charges and accrued income -€3,264
down €3,264 (-52.0%), from €6,272 to €3,008
- Profit (loss) carried forward -€9,390
down €9,390 (-8.5%), from €110,607 to €101,217
- Trade debts +€4,180
new in 2025: €4,180
- Tax, wage and social debts -€2,322
down €2,322 (-37.4%), from €6,206 to €3,884
- Gross operating margin +€2,452
up €2,452 (+18.8%), from €13,031 to €15,482
- Depreciation +€1,759
up €1,759 (+17.6%), from €9,975 to €11,734
- Taxes +€259
up €259 (+15.5%), from €1,668 to €1,927
- Financial charges +€214
up €214 (+94.0%), from €228 to €442
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €148,579 | €141,092 | -€7,487 | -5.0% |
| Fixed assets | 21/28 | €24,299 | €15,348 | -€8,951 | -36.8% |
| Intangible fixed assets | 21 | €803 | €103 | -€700 | -87.2% |
| Tangible fixed assets | 22/27 | €23,274 | €15,023 | -€8,251 | -35.5% |
| Plant, machinery and equipment | 23 | €10,128 | €7,135 | -€2,993 | -29.6% |
| Furniture and vehicles | 24 | €13,146 | €7,888 | -€5,258 | -40.0% |
| Financial fixed assets | 28 | €223 | €223 | = | 0.0% |
| Current assets | 29/58 | €124,279 | €125,743 | +€1,464 | +1.2% |
| Stocks and contracts in progress | 3 | €30,003 | €43,689 | +€13,686 | +45.6% |
| Stocks | 30/36 | €30,003 | €43,689 | +€13,686 | +45.6% |
| Amounts receivable within one year | 40/41 | €40,001 | €20,283 | -€19,718 | -49.3% |
| Trade receivables | 40 | €30,914 | €13,928 | -€16,986 | -54.9% |
| Other amounts receivable | 41 | €9,087 | €6,355 | -€2,731 | -30.1% |
| Cash at bank and in hand | 54/58 | €48,004 | €58,763 | +€10,759 | +22.4% |
| Deferred charges and accrued income | 490/1 | €6,272 | €3,008 | -€3,264 | -52.0% |
| Total equity and liabilities | 10/49 | €148,579 | €141,092 | -€7,487 | -5.0% |
| Equity | 10/15 | €131,067 | €121,677 | -€9,390 | -7.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,607 | €101,217 | -€9,390 | -8.5% |
| Amounts payable | 17/49 | €17,512 | €19,415 | +€1,904 | +10.9% |
| Amounts payable within one year | 42/48 | €17,512 | €19,415 | +€1,904 | +10.9% |
| Trade debts | 44 | - | €4,180 | +€4,180 | |
| Suppliers | 440/4 | - | €4,180 | +€4,180 | |
| Taxes, remuneration and social security | 45 | €6,206 | €3,884 | -€2,322 | -37.4% |
| Taxes | 450/3 | €6,206 | €3,884 | -€2,322 | -37.4% |
| Other amounts payable | 47/48 | €11,306 | €11,351 | +€45 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,975 | €11,734 | +€1,759 | +17.6% |
| Other operating charges | 640/8 | €746 | €769 | +€23 | +3.1% |
| Gross operating margin | 9900 | €13,031 | €15,482 | +€2,452 | +18.8% |
| Operating profit (loss) | 9901 | €2,310 | €2,979 | +€669 | +29.0% |
| Financial charges | 65/66B | €228 | €442 | +€214 | +94.0% |
| Recurring financial charges | 65 | €228 | €442 | +€214 | +94.0% |
| Profit (loss) for the period before taxes | 9903 | €2,081 | €2,536 | +€455 | +21.9% |
| Income taxes | 67/77 | €1,668 | €1,927 | +€259 | +15.5% |
| Profit (loss) for the period | 9904 | €414 | €610 | +€196 | +47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €414 | €610 | +€196 | +47.4% |
Next steps
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 5 November 2026 via checked.be.