DE POPULIER: 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.
DE POPULIER
Largest movements
- Cash +€28.6m
up €28.6m (+270.4%), from €10.6m to €39.2m
mainly Net result for the year (+€18.3m) and Current investments (+€12.2m)
- Current investments -€12.2m
down €12.2m (-27.8%), from €43.9m to €31.7m
- Reserves +€16.5m
up €16.5m (+266556.3%), from €6,200 to €16.5m
of which Distributable reserves: +€16.5m
- Other debts -€2.2m
down €2.2m (-62.6%), from €3.5m to €1.3m
- Tax, wage and social debts +€2.0m
up €2.0m (+6567.1%), from €30,995 to €2.1m
of which Taxes: +€2.0m
- Financial income +€11.5m
up €11.5m (+126.9%), from €9.0m to €20.5m
- Financial charges -€4.8m
down €4.8m, from €3.9m to -€934,311
- Taxes +€2.3m
up €2.3m (+689.3%), from €327,241 to €2.6m
- Depreciation +€40,639
up €40,639 (+7.1%), from €575,285 to €615,923
- Gross operating margin +€21,475
up €21,475 (+5.8%), from €368,479 to €389,954
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 | €96,050,813 | €112,413,561 | +€16.4m | +17.0% |
| Fixed assets | 21/28 | €19,928,356 | €20,077,068 | +€148,712 | +0.7% |
| Tangible fixed assets | 22/27 | €18,614,338 | €18,763,050 | +€148,712 | +0.8% |
| Land and buildings | 22 | €18,556,444 | €18,727,501 | +€171,057 | +0.9% |
| Furniture and vehicles | 24 | €57,893 | €35,549 | -€22,345 | -38.6% |
| Financial fixed assets | 28 | €1,314,019 | €1,314,019 | = | 0.0% |
| Current assets | 29/58 | €76,122,457 | €92,336,493 | +€16.2m | +21.3% |
| Stocks and contracts in progress | 3 | €521,435 | €521,435 | = | 0.0% |
| Stocks | 30/36 | €521,435 | €521,435 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,048,805 | €20,789,807 | -€258,998 | -1.2% |
| Trade receivables | 40 | €460,024 | €391,026 | -€68,998 | -15.0% |
| Other amounts receivable | 41 | €20,588,781 | €20,398,781 | -€190,000 | -0.9% |
| Current investments | 50/53 | €43,938,371 | €31,710,526 | -€12.2m | -27.8% |
| Cash at bank and in hand | 54/58 | €10,573,243 | €39,162,434 | +€28.6m | +270.4% |
| Deferred charges and accrued income | 490/1 | €40,603 | €152,290 | +€111,687 | +275.1% |
| Total equity and liabilities | 10/49 | €96,050,813 | €112,413,561 | +€16.4m | +17.0% |
| Equity | 10/15 | €92,259,398 | €108,785,888 | +€16.5m | +17.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €16,532,691 | +€16.5m | +266556.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | - | €16,526,491 | +€16.5m | |
| Profit (loss) carried forward | 14 | €92,191,198 | €92,191,198 | = | 0.0% |
| Amounts payable | 17/49 | €3,791,416 | €3,627,673 | -€163,743 | -4.3% |
| Amounts payable after more than one year | 17 | €57,343 | €52,268 | -€5,075 | -8.9% |
| Other amounts payable | 178/9 | €57,343 | €52,268 | -€5,075 | -8.9% |
| Amounts payable within one year | 42/48 | €3,646,471 | €3,521,336 | -€125,135 | -3.4% |
| Trade debts | 44 | €121,092 | €147,543 | +€26,450 | +21.8% |
| Suppliers | 440/4 | €121,092 | €147,543 | +€26,450 | +21.8% |
| Taxes, remuneration and social security | 45 | €30,995 | €2,066,477 | +€2.0m | +6567.1% |
| Taxes | 450/3 | €9,328 | €2,044,034 | +€2.0m | +21813.8% |
| Remuneration and social security | 454/9 | €21,668 | €22,443 | +€776 | +3.6% |
| Other amounts payable | 47/48 | €3,494,384 | €1,307,316 | -€2.2m | -62.6% |
| Accrued charges and deferred income | 492/3 | €87,602 | €54,069 | -€33,533 | -38.3% |
| Remuneration, social security and pensions | 62 | €174,030 | €178,737 | +€4,707 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €575,285 | €615,923 | +€40,639 | +7.1% |
| Other operating charges | 640/8 | €154,431 | €157,835 | +€3,405 | +2.2% |
| Gross operating margin | 9900 | €368,479 | €389,954 | +€21,475 | +5.8% |
| Operating profit (loss) | 9901 | -€535,266 | -€562,541 | -€27,276 | -5.1% |
| Financial income | 75/76B | €9,043,828 | €20,523,436 | +€11.5m | +126.9% |
| Recurring financial income | 75 | €9,043,828 | €20,523,436 | +€11.5m | +126.9% |
| Financial charges | 65/66B | €3,872,136 | -€934,311 | -€4.8m | |
| Recurring financial charges | 65 | €3,872,136 | -€934,311 | -€4.8m | |
| Profit (loss) for the period before taxes | 9903 | €4,636,426 | €20,895,205 | +€16.3m | +350.7% |
| Income taxes | 67/77 | €327,241 | €2,583,000 | +€2.3m | +689.3% |
| Profit (loss) for the period | 9904 | €4,309,185 | €18,312,205 | +€14.0m | +325.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,309,185 | €18,312,205 | +€14.0m | +325.0% |
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 11 October 2026 via checked.be.