Group P3: 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.
Group P3
Largest movements
- Receivables within one year +€239,182
up €239,182 (+514.7%), from €46,473 to €285,655
- Reserves +€1.1m
up €1.1m (+55.9%), from €2.0m to €3.2m
of which Distributable reserves: +€1.2m
- Debts after one year -€1.1m
down €1.1m (-64.3%), from €1.7m to €610,181
of which Financial debts: -€951,381
- Other debts +€270,000
new in 2025: €270,000
- Gross operating margin +€992,982
up €992,982 (+475.8%), from €208,676 to €1.2m
- Financial income -€194,826
down €194,826 (-96.1%), from €202,676 to €7,851
- Taxes -€71,163
down €71,163 (-82.2%), from €86,538 to €15,375
- Financial charges +€26,231
up €26,231 (+47.4%), from €55,388 to €81,620
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 | €4,414,706 | €4,652,498 | +€237,792 | +5.4% |
| Fixed assets | 21/28 | €4,297,709 | €4,316,309 | +€18,600 | +0.4% |
| Financial fixed assets | 28 | €4,297,709 | €4,316,309 | +€18,600 | +0.4% |
| Current assets | 29/58 | €116,997 | €336,189 | +€219,192 | +187.3% |
| Amounts receivable within one year | 40/41 | €46,473 | €285,655 | +€239,182 | +514.7% |
| Other amounts receivable | 41 | €46,473 | €285,655 | +€239,182 | +514.7% |
| Cash at bank and in hand | 54/58 | €70,524 | €50,534 | -€19,990 | -28.3% |
| Total equity and liabilities | 10/49 | €4,414,706 | €4,652,498 | +€237,792 | +5.4% |
| Equity | 10/15 | €2,527,872 | €3,661,093 | +€1.1m | +44.8% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €2,027,872 | €3,161,093 | +€1.1m | +55.9% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €126,300 | €14,139 | -€112,162 | -88.8% |
| Distributable reserves | 133 | €1,851,571 | €3,096,955 | +€1.2m | +67.3% |
| Amounts payable | 17/49 | €1,886,834 | €991,405 | -€895,429 | -47.5% |
| Amounts payable after more than one year | 17 | €1,711,562 | €610,181 | -€1.1m | -64.3% |
| Financial debts | 170/4 | €1,011,562 | €60,181 | -€951,381 | -94.1% |
| Trade debts | 175 | €700,000 | €550,000 | -€150,000 | -21.4% |
| Amounts payable within one year | 42/48 | €148,110 | €368,299 | +€220,189 | +148.7% |
| Current portion of amounts payable after more than one year | 42 | €91,763 | €51,381 | -€40,381 | -44.0% |
| Trade debts | 44 | €4,993 | €2,324 | -€2,668 | -53.4% |
| Suppliers | 440/4 | €4,993 | €2,324 | -€2,668 | -53.4% |
| Taxes, remuneration and social security | 45 | €51,354 | €44,593 | -€6,761 | -13.2% |
| Taxes | 450/3 | €51,354 | €44,593 | -€6,761 | -13.2% |
| Other amounts payable | 47/48 | - | €270,000 | +€270,000 | |
| Accrued charges and deferred income | 492/3 | €27,162 | €12,925 | -€14,237 | -52.4% |
| Other operating charges | 640/8 | €6,112 | €5,623 | -€489 | -8.0% |
| Non-recurring operating charges | 66A | €10,000 | - | -€10,000 | |
| Gross operating margin | 9900 | €208,676 | €1,201,658 | +€992,982 | +475.8% |
| Operating profit (loss) | 9901 | €192,564 | €1,196,035 | +€1.0m | +521.1% |
| Financial income | 75/76B | €202,676 | €7,851 | -€194,826 | -96.1% |
| Recurring financial income | 75 | €202,676 | €7,851 | -€194,826 | -96.1% |
| Financial charges | 65/66B | €55,388 | €81,620 | +€26,231 | +47.4% |
| Recurring financial charges | 65 | €55,388 | €81,620 | +€26,231 | +47.4% |
| Profit (loss) for the period before taxes | 9903 | €339,852 | €1,122,266 | +€782,414 | +230.2% |
| Income taxes | 67/77 | €86,538 | €15,375 | -€71,163 | -82.2% |
| Profit (loss) for the period | 9904 | €253,314 | €1,106,891 | +€853,577 | +337.0% |
| Transfer from tax-exempt reserves | 789 | - | €112,162 | +€112,162 | |
| Transfer to tax-exempt reserves | 689 | €77,281 | - | -€77,281 | |
| Profit (loss) for the period to be appropriated | 9905 | €176,033 | €1,219,053 | +€1.0m | +592.5% |
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.