A PUB: 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.
A PUB
Largest movements
- Cash -€13,836
down €13,836 (-98.9%), from €13,996 to €160
mainly Trade debts (-€28,388) and Net result for the year (-€259)
- Deferred charges and accrued income -€3,088
down €3,088 (-39.6%), from €7,797 to €4,709
- Tangible fixed assets -€2,460
down €2,460 (-54.2%), from €4,538 to €2,077
- Trade debts -€28,388
down €28,388 (-40.4%), from €70,328 to €41,940
- Tax, wage and social debts +€7,246
up €7,246 (+86.9%), from €8,335 to €15,581
of which Taxes: +€3,630
- Other debts +€1,804
new in 2025: €1,804
- Gross operating margin -€7,962
down €7,962 (-8.6%), from €92,320 to €84,358
- Staff costs +€6,671
up €6,671 (+9.4%), from €70,836 to €77,507
- Depreciation -€4,164
down €4,164 (-62.9%), from €6,625 to €2,460
- Financial charges +€1,147
up €1,147 (+53.9%), from €2,126 to €3,272
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 | €54,795 | €35,199 | -€19,597 | -35.8% |
| Fixed assets | 21/28 | €4,713 | €2,252 | -€2,460 | -52.2% |
| Tangible fixed assets | 22/27 | €4,538 | €2,077 | -€2,460 | -54.2% |
| Furniture and vehicles | 24 | €4,538 | €2,077 | -€2,460 | -54.2% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €50,083 | €32,947 | -€17,136 | -34.2% |
| Amounts receivable within one year | 40/41 | €28,290 | €28,078 | -€212 | -0.7% |
| Trade receivables | 40 | €25,689 | €24,545 | -€1,144 | -4.5% |
| Other amounts receivable | 41 | €2,600 | €3,533 | +€933 | +35.9% |
| Cash at bank and in hand | 54/58 | €13,996 | €160 | -€13,836 | -98.9% |
| Deferred charges and accrued income | 490/1 | €7,797 | €4,709 | -€3,088 | -39.6% |
| Total equity and liabilities | 10/49 | €54,795 | €35,199 | -€19,597 | -35.8% |
| Equity | 10/15 | -€23,868 | -€24,127 | -€259 | -1.1% |
| Contributions | 10/11 | €145,000 | €145,000 | = | 0.0% |
| Capital | 10 | €145,000 | €145,000 | = | 0.0% |
| Issued capital | 100 | €145,000 | €145,000 | = | 0.0% |
| Reserves | 13 | €224 | €224 | = | 0.0% |
| Non-distributable reserves | 130/1 | €224 | €224 | = | 0.0% |
| Legal reserve | 130 | €224 | €224 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€169,092 | -€169,351 | -€259 | -0.2% |
| Amounts payable | 17/49 | €78,663 | €59,325 | -€19,338 | -24.6% |
| Amounts payable within one year | 42/48 | €78,663 | €59,325 | -€19,338 | -24.6% |
| Trade debts | 44 | €70,328 | €41,940 | -€28,388 | -40.4% |
| Suppliers | 440/4 | €70,328 | €41,940 | -€28,388 | -40.4% |
| Taxes, remuneration and social security | 45 | €8,335 | €15,581 | +€7,246 | +86.9% |
| Taxes | 450/3 | €784 | €4,414 | +€3,630 | +462.8% |
| Remuneration and social security | 454/9 | €7,551 | €11,167 | +€3,616 | +47.9% |
| Other amounts payable | 47/48 | - | €1,804 | +€1,804 | |
| Remuneration, social security and pensions | 62 | €70,836 | €77,507 | +€6,671 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,625 | €2,460 | -€4,164 | -62.9% |
| Other operating charges | 640/8 | €1,564 | €1,500 | -€64 | -4.1% |
| Gross operating margin | 9900 | €92,320 | €84,358 | -€7,962 | -8.6% |
| Operating profit (loss) | 9901 | €13,295 | €2,890 | -€10,405 | -78.3% |
| Financial income | 75/76B | €124 | €334 | +€210 | +170.0% |
| Recurring financial income | 75 | €124 | €334 | +€210 | +170.0% |
| Financial charges | 65/66B | €2,126 | €3,272 | +€1,147 | +53.9% |
| Recurring financial charges | 65 | €2,126 | €3,272 | +€1,147 | +53.9% |
| Profit (loss) for the period before taxes | 9903 | €11,293 | -€49 | -€11,342 | |
| Income taxes | 67/77 | €242 | €210 | -€32 | -13.1% |
| Profit (loss) for the period | 9904 | €11,051 | -€259 | -€11,310 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,051 | -€259 | -€11,310 |
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 7 October 2026 via checked.be.