P-NUTS: 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.
P-NUTS
Largest movements
- Stocks and contracts +€26,267
up €26,267 (+17.6%), from €149,210 to €175,477
- Tangible fixed assets -€9,936
down €9,936 (-2.2%), from €456,645 to €446,709
of which Land and buildings: -€18,416
- Receivables within one year -€9,618
down €9,618 (-39.0%), from €24,678 to €15,060
- Trade debts +€23,665
up €23,665 (+160%), from €14,798 to €38,463
- Other debts -€21,528
down €21,528 (-34.2%), from €62,980 to €41,452
- Debts after one year -€16,310
down €16,310 (-3.6%), from €448,194 to €431,884
- Reserves +€12,394
up €12,394 (+21.7%), from €57,207 to €69,601
of which Distributable reserves: +€12,394
- Current portion of long-term debt +€10,792
up €10,792 (+43.9%), from €24,612 to €35,404
- Gross operating margin +€37,986
up €37,986 (+31.9%), from €119,048 to €157,033
- Write-downs +€18,417
up €18,417, from €0 to €18,417
- Staff costs +€12,266
up €12,266 (+29.9%), from €40,996 to €53,262
- Financial charges +€5,782
up €5,782 (+33.1%), from €17,475 to €23,257
- Taxes +€2,181
up €2,181 (+33.4%), from €6,535 to €8,715
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 | €646,530 | €662,053 | +€15,523 | +2.4% |
| Fixed assets | 21/28 | €457,548 | €447,612 | -€9,936 | -2.2% |
| Tangible fixed assets | 22/27 | €456,645 | €446,709 | -€9,936 | -2.2% |
| Land and buildings | 22 | €389,582 | €371,165 | -€18,416 | -4.7% |
| Plant, machinery and equipment | 23 | €64,097 | €72,790 | +€8,693 | +13.6% |
| Furniture and vehicles | 24 | €2,966 | €2,753 | -€213 | -7.2% |
| Financial fixed assets | 28 | €903 | €903 | = | 0.0% |
| Current assets | 29/58 | €188,982 | €214,441 | +€25,459 | +13.5% |
| Stocks and contracts in progress | 3 | €149,210 | €175,477 | +€26,267 | +17.6% |
| Stocks | 30/36 | €149,210 | €175,477 | +€26,267 | +17.6% |
| Amounts receivable within one year | 40/41 | €24,678 | €15,060 | -€9,618 | -39.0% |
| Trade receivables | 40 | €24,678 | €15,060 | -€9,618 | -39.0% |
| Cash at bank and in hand | 54/58 | €15,094 | €19,037 | +€3,942 | +26.1% |
| Deferred charges and accrued income | 490/1 | €0 | €4,867 | +€4,867 | |
| Total equity and liabilities | 10/49 | €646,530 | €662,053 | +€15,523 | +2.4% |
| Equity | 10/15 | €63,407 | €75,801 | +€12,394 | +19.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €57,207 | €69,601 | +€12,394 | +21.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €277 | €277 | = | 0.0% |
| Distributable reserves | 133 | €56,930 | €69,324 | +€12,394 | +21.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €583,123 | €586,252 | +€3,128 | +0.5% |
| Amounts payable after more than one year | 17 | €448,194 | €431,884 | -€16,310 | -3.6% |
| Financial debts | 170/4 | €448,194 | €431,884 | -€16,310 | -3.6% |
| Amounts payable within one year | 42/48 | €134,929 | €150,280 | +€15,351 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €24,612 | €35,404 | +€10,792 | +43.9% |
| Financial debts | 43 | €6,106 | €6,106 | = | 0.0% |
| Other loans | 439 | €6,106 | €6,106 | = | 0.0% |
| Trade debts | 44 | €14,798 | €38,463 | +€23,665 | +160% |
| Suppliers | 440/4 | €14,798 | €38,463 | +€23,665 | +160% |
| Taxes, remuneration and social security | 45 | €26,434 | €28,855 | +€2,421 | +9.2% |
| Taxes | 450/3 | €21,427 | €26,321 | +€4,894 | +22.8% |
| Remuneration and social security | 454/9 | €5,007 | €2,534 | -€2,473 | -49.4% |
| Other amounts payable | 47/48 | €62,980 | €41,452 | -€21,528 | -34.2% |
| Accrued charges and deferred income | 492/3 | - | €4,087 | +€4,087 | |
| Remuneration, social security and pensions | 62 | €40,996 | €53,262 | +€12,266 | +29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,810 | €38,010 | +€200 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €18,417 | +€18,417 | |
| Other operating charges | 640/8 | €4,015 | €4,015 | +€0 | 0.0% |
| Gross operating margin | 9900 | €119,048 | €157,033 | +€37,986 | +31.9% |
| Operating profit (loss) | 9901 | €36,228 | €43,329 | +€7,101 | +19.6% |
| Financial income | 75/76B | €890 | €1,038 | +€148 | +16.6% |
| Recurring financial income | 75 | €890 | €1,038 | +€148 | +16.6% |
| Financial charges | 65/66B | €17,475 | €23,257 | +€5,782 | +33.1% |
| Recurring financial charges | 65 | €17,475 | €23,257 | +€5,782 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | €19,642 | €21,109 | +€1,467 | +7.5% |
| Income taxes | 67/77 | €6,535 | €8,715 | +€2,181 | +33.4% |
| Profit (loss) for the period | 9904 | €13,107 | €12,394 | -€713 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,107 | €12,394 | -€713 | -5.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.