A POPPY: 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.
A POPPY
Largest movements
- Tangible fixed assets +€141,449
up €141,449, from €0 to €141,449
- Cash +€34,556
up €34,556 (+15.5%), from €222,240 to €256,797
mainly Trade debts (+€150,157) and Net result for the year (+€19,181)
- Receivables within one year -€12,647
down €12,647 (-57.7%), from €21,904 to €9,257
of which Other amounts receivable: -€10,832
- Trade debts +€150,157
up €150,157 (+9,411%), from €1,596 to €151,752
- Reserves +€19,181
up €19,181 (+11.1%), from €172,039 to €191,220
of which Distributable reserves: +€19,181
- Tax, wage and social debts -€6,215
down €6,215 (-90.3%), from €6,881 to €666
- Gross operating margin -€4,739
down €4,739 (-15.7%), from €30,234 to €25,494
- Taxes -€957
down €957 (-11.3%), from €8,471 to €7,515
- Depreciation -€586
down €586 (-79.1%), from €741 to €155
- Financial income +€500
up €500 (+33.1%), from €1,513 to €2,014
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 | €244,145 | €407,503 | +€163,358 | +66.9% |
| Fixed assets | 21/28 | €0 | €141,449 | +€141,449 | |
| Tangible fixed assets | 22/27 | €0 | €141,449 | +€141,449 | |
| Furniture and vehicles | 24 | €0 | €141,449 | +€141,449 | |
| Current assets | 29/58 | €244,145 | €266,054 | +€21,909 | +9.0% |
| Amounts receivable within one year | 40/41 | €21,904 | €9,257 | -€12,647 | -57.7% |
| Trade receivables | 40 | €1,815 | €0 | -€1,815 | -100% |
| Other amounts receivable | 41 | €20,089 | €9,257 | -€10,832 | -53.9% |
| Cash at bank and in hand | 54/58 | €222,240 | €256,797 | +€34,556 | +15.5% |
| Total equity and liabilities | 10/49 | €244,145 | €407,503 | +€163,358 | +66.9% |
| Equity | 10/15 | €234,539 | €253,720 | +€19,181 | +8.2% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €172,039 | €191,220 | +€19,181 | +11.1% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €165,789 | €184,970 | +€19,181 | +11.6% |
| Amounts payable | 17/49 | €9,606 | €153,783 | +€144,177 | +1,501% |
| Amounts payable within one year | 42/48 | €9,606 | €153,783 | +€144,177 | +1,501% |
| Financial debts | 43 | €1,130 | €1,235 | +€105 | +9.3% |
| Credit institutions | 430/8 | €1,130 | €1,235 | +€105 | +9.3% |
| Trade debts | 44 | €1,596 | €151,752 | +€150,157 | +9,411% |
| Suppliers | 440/4 | €1,596 | €151,752 | +€150,157 | +9,411% |
| Taxes, remuneration and social security | 45 | €6,881 | €666 | -€6,215 | -90.3% |
| Taxes | 450/3 | €6,881 | €666 | -€6,215 | -90.3% |
| Other amounts payable | 47/48 | - | €130 | +€130 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €741 | €155 | -€586 | -79.1% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €30,234 | €25,494 | -€4,739 | -15.7% |
| Operating profit (loss) | 9901 | €28,980 | €24,811 | -€4,168 | -14.4% |
| Financial income | 75/76B | €1,513 | €2,014 | +€500 | +33.1% |
| Recurring financial income | 75 | €1,513 | €2,014 | +€500 | +33.1% |
| Financial charges | 65/66B | €398 | €129 | -€269 | -67.6% |
| Recurring financial charges | 65 | €398 | €129 | -€269 | -67.6% |
| Profit (loss) for the period before taxes | 9903 | €30,095 | €26,696 | -€3,399 | -11.3% |
| Income taxes | 67/77 | €8,471 | €7,515 | -€957 | -11.3% |
| Profit (loss) for the period | 9904 | €21,624 | €19,181 | -€2,442 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,624 | €19,181 | -€2,442 | -11.3% |
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.