PSL INTERNATIONAL: 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.
PSL INTERNATIONAL
Largest movements
- Intangible fixed assets -€1.2m
down €1.2m (-21.1%), from €5.7m to €4.5m
- Receivables within one year -€1.1m
down €1.1m (-74.8%), from €1.5m to €377,435
of which Trade receivables: -€872,883
- Cash +€392,352
up €392,352 (+1,394%), from €28,138 to €420,490
mainly Depreciation (+€1.2m) and Receivables within one year (+€1.1m)
- Profit (loss) carried forward -€1.0m
down €1.0m (-499%), from -€205,110 to -€1.2m
- Other debts -€527,177
down €527,177 (-13.1%), from €4.0m to €3.5m
- Current portion of long-term debt -€289,521
down €289,521 (-87.4%), from €331,417 to €41,896
- Depreciation +€911,553
up €911,553 (+295%), from €309,260 to €1.2m
- Turnover -€121,600
down €121,600 (-21.4%), from €569,200 to €447,600
- Financial charges -€82,735
down €82,735 (-74.3%), from €111,383 to €28,648
- Services and other goods +€42,584
up €42,584 (+38.9%), from €109,430 to €152,015
- Taxes +€15,636
up €15,636 (+33.1%), from €47,288 to €62,924
of which Taxes: +€17,489
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 | €18,978,573 | €17,035,100 | -€1.9m | -10.2% |
| Fixed assets | 21/28 | €17,454,074 | €16,234,375 | -€1.2m | -7.0% |
| Intangible fixed assets | 21 | €5,674,786 | €4,479,117 | -€1.2m | -21.1% |
| Tangible fixed assets | 22/27 | €119,288 | €95,258 | -€24,031 | -20.1% |
| Furniture and vehicles | 24 | €119,288 | €95,258 | -€24,031 | -20.1% |
| Financial fixed assets | 28 | €11,660,000 | €11,660,000 | = | 0.0% |
| Affiliated companies | 280/1 | €11,660,000 | €11,660,000 | = | 0.0% |
| Participating interests | 280 | €11,660,000 | €11,660,000 | = | 0.0% |
| Current assets | 29/58 | €1,524,499 | €800,725 | -€723,774 | -47.5% |
| Amounts receivable after more than one year | 29 | - | €2,800 | +€2,800 | |
| Trade receivables | 290 | - | €2,800 | +€2,800 | |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,496,361 | €377,435 | -€1.1m | -74.8% |
| Trade receivables | 40 | €1,250,318 | €377,435 | -€872,883 | -69.8% |
| Other amounts receivable | 41 | €246,043 | €0 | -€246,043 | -100% |
| Cash at bank and in hand | 54/58 | €28,138 | €420,490 | +€392,352 | +1,394% |
| Total equity and liabilities | 10/49 | €18,978,573 | €17,035,100 | -€1.9m | -10.2% |
| Equity | 10/15 | €14,294,890 | €13,272,129 | -€1.0m | -7.2% |
| Contributions | 10/11 | €14,500,000 | €14,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€205,110 | -€1,227,872 | -€1.0m | -499% |
| Amounts payable | 17/49 | €4,683,683 | €3,762,971 | -€920,711 | -19.7% |
| Amounts payable after more than one year | 17 | €77,977 | €36,082 | -€41,896 | -53.7% |
| Financial debts | 170/4 | €77,977 | €36,082 | -€41,896 | -53.7% |
| Credit institutions | 173 | €77,977 | €36,082 | -€41,896 | -53.7% |
| Amounts payable within one year | 42/48 | €4,604,676 | €3,726,828 | -€877,848 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €331,417 | €41,896 | -€289,521 | -87.4% |
| Trade debts | 44 | €94,108 | €24,027 | -€70,081 | -74.5% |
| Suppliers | 440/4 | €94,108 | €24,027 | -€70,081 | -74.5% |
| Taxes, remuneration and social security | 45 | €166,616 | €175,547 | +€8,931 | +5.4% |
| Taxes | 450/3 | €166,616 | €175,547 | +€8,931 | +5.4% |
| Other amounts payable | 47/48 | €4,012,536 | €3,485,359 | -€527,177 | -13.1% |
| Accrued charges and deferred income | 492/3 | €1,030 | €62 | -€968 | -94.0% |
| Operating income | 70/76A | €569,200 | €450,166 | -€119,034 | -20.9% |
| Turnover | 70 | €569,200 | €447,600 | -€121,600 | -21.4% |
| Non-recurring operating income | 76A | - | €2,566 | +€2,566 | |
| Operating charges | 60/66A | €419,944 | €1,381,357 | +€961,412 | +229% |
| Goods for resale, raw materials and consumables | 60 | - | €1,026 | +€1,026 | |
| Purchases | 600/8 | - | €1,026 | +€1,026 | |
| Services and other goods | 61 | €109,430 | €152,015 | +€42,584 | +38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €309,260 | €1,220,813 | +€911,553 | +295% |
| Other operating charges | 640/8 | €1,255 | €7,504 | +€6,249 | +498% |
| Operating profit (loss) | 9901 | €149,256 | -€931,190 | -€1.1m | |
| Financial charges | 65/66B | €111,383 | €28,648 | -€82,735 | -74.3% |
| Recurring financial charges | 65 | €111,383 | €28,648 | -€82,735 | -74.3% |
| Debt charges | 650 | €109,094 | €26,850 | -€82,243 | -75.4% |
| Other financial charges | 652/9 | €2,289 | €1,797 | -€492 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €37,873 | -€959,838 | -€997,710 | |
| Income taxes | 67/77 | €47,288 | €62,924 | +€15,636 | +33.1% |
| Taxes | 670/3 | €47,288 | €64,776 | +€17,489 | +37.0% |
| Tax adjustments and reversals of tax provisions | 77 | - | €1,852 | +€1,852 | |
| Profit (loss) for the period | 9904 | -€9,415 | -€1,022,762 | -€1.0m | -10,763% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,415 | -€1,022,762 | -€1.0m | -10,763% |
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 30 October 2026 via checked.be.