P.O. Management: 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.O. Management
Largest movements
- Current investments +€61,854
up €61,854 (+16.5%), from €373,820 to €435,674
- Cash +€43,256
up €43,256 (+74.9%), from €57,788 to €101,044
mainly Net result for the year (+€82,865) and Depreciation (+€16,019)
- Tangible fixed assets -€16,019
down €16,019 (-20.0%), from €79,979 to €63,960
of which Furniture and vehicles: -€11,832
- Profit (loss) carried forward +€82,865
up €82,865 (+15.3%), from €539,938 to €622,802
- Financial income -€23,844
down €23,844 (-81.2%), from €29,372 to €5,528
- Purchases and services +€9,819
up €9,819 (+13.1%), from €74,711 to €84,530
- Gross operating margin -€7,719
down €7,719 (-6.0%), from €129,668 to €121,949
- Taxes -€4,292
down €4,292 (-13.2%), from €32,480 to €28,188
- Depreciation +€4,192
up €4,192 (+35.5%), from €11,826 to €16,019
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 | €558,055 | €640,542 | +€82,487 | +14.8% |
| Fixed assets | 21/28 | €80,479 | €64,460 | -€16,019 | -19.9% |
| Tangible fixed assets | 22/27 | €79,979 | €63,960 | -€16,019 | -20.0% |
| Plant, machinery and equipment | 23 | €28,806 | €24,619 | -€4,187 | -14.5% |
| Furniture and vehicles | 24 | €51,174 | €39,342 | -€11,832 | -23.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €477,576 | €576,082 | +€98,506 | +20.6% |
| Amounts receivable within one year | 40/41 | €39,932 | €38,979 | -€953 | -2.4% |
| Trade receivables | 40 | €31,003 | €31,003 | = | 0.0% |
| Other amounts receivable | 41 | €8,929 | €7,976 | -€953 | -10.7% |
| Current investments | 50/53 | €373,820 | €435,674 | +€61,854 | +16.5% |
| Cash at bank and in hand | 54/58 | €57,788 | €101,044 | +€43,256 | +74.9% |
| Deferred charges and accrued income | 490/1 | €6,036 | €385 | -€5,651 | -93.6% |
| Total equity and liabilities | 10/49 | €558,055 | €640,542 | +€82,487 | +14.8% |
| Equity | 10/15 | €547,998 | €630,862 | +€82,865 | +15.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €539,938 | €622,802 | +€82,865 | +15.3% |
| Amounts payable | 17/49 | €10,058 | €9,680 | -€377 | -3.8% |
| Amounts payable within one year | 42/48 | €10,058 | €9,656 | -€402 | -4.0% |
| Trade debts | 44 | €920 | €580 | -€340 | -37.0% |
| Suppliers | 440/4 | €920 | €580 | -€340 | -37.0% |
| Taxes, remuneration and social security | 45 | €9,138 | €9,076 | -€62 | -0.7% |
| Taxes | 450/3 | €9,138 | €9,076 | -€62 | -0.7% |
| Accrued charges and deferred income | 492/3 | - | €24 | +€24 | |
| Turnover | 70 | €204,379 | €206,479 | +€2,100 | +1.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €74,711 | €84,530 | +€9,819 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,826 | €16,019 | +€4,192 | +35.5% |
| Other operating charges | 640/8 | €250 | €305 | +€55 | +22.2% |
| Gross operating margin | 9900 | €129,668 | €121,949 | -€7,719 | -6.0% |
| Operating profit (loss) | 9901 | €117,592 | €105,626 | -€11,967 | -10.2% |
| Financial income | 75/76B | €29,372 | €5,528 | -€23,844 | -81.2% |
| Recurring financial income | 75 | €29,372 | €5,528 | -€23,844 | -81.2% |
| Financial charges | 65/66B | €1,069 | €100 | -€968 | -90.6% |
| Recurring financial charges | 65 | €1,069 | €100 | -€968 | -90.6% |
| Profit (loss) for the period before taxes | 9903 | €145,895 | €111,053 | -€34,842 | -23.9% |
| Income taxes | 67/77 | €32,480 | €28,188 | -€4,292 | -13.2% |
| Profit (loss) for the period | 9904 | €113,415 | €82,865 | -€30,551 | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €113,415 | €82,865 | -€30,551 | -26.9% |
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 20 October 2026 via checked.be.