P-ONE: 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-ONE
Largest movements
- Tangible fixed assets +€73,966
up €73,966 (+204%), from €36,211 to €110,177
of which Furniture and vehicles: +€76,794
- Cash +€39,269
up €39,269 (+134%), from €29,342 to €68,610
mainly Debts after one year (+€44,002) and Depreciation (+€26,121)
- Deferred charges and accrued income -€9,625
down €9,625 (-25.8%), from €37,236 to €27,611
- Receivables within one year -€4,969
down €4,969 (-15.4%), from €32,163 to €27,194
of which Trade receivables: -€7,619
- Debts after one year +€44,002
up €44,002 (+129%), from €34,053 to €78,055
of which Financial debts: +€62,884
- Reserves +€23,157
up €23,157 (+45.5%), from €50,950 to €74,108
- Current portion of long-term debt +€17,933
up €17,933 (+508%), from €3,531 to €21,464
- Accrued charges and deferred income +€15,290
new in 2025: €15,290
- Tax, wage and social debts -€6,219
down €6,219 (-50.1%), from €12,421 to €6,202
- Depreciation +€18,114
up €18,114 (+226%), from €8,007 to €26,121
- Taxes -€4,712
down €4,712 (-33.6%), from €14,039 to €9,328
- Gross operating margin +€4,124
up €4,124 (+5.5%), from €75,198 to €79,322
- Financial charges +€1,800
up €1,800 (+32.8%), from €5,486 to €7,286
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 | €135,952 | €234,593 | +€98,640 | +72.6% |
| Fixed assets | 21/28 | €37,211 | €111,177 | +€73,966 | +199% |
| Tangible fixed assets | 22/27 | €36,211 | €110,177 | +€73,966 | +204% |
| Plant, machinery and equipment | 23 | €5,191 | €2,362 | -€2,828 | -54.5% |
| Furniture and vehicles | 24 | €31,021 | €107,815 | +€76,794 | +248% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €98,741 | €123,416 | +€24,675 | +25.0% |
| Amounts receivable within one year | 40/41 | €32,163 | €27,194 | -€4,969 | -15.4% |
| Trade receivables | 40 | €31,825 | €24,206 | -€7,619 | -23.9% |
| Other amounts receivable | 41 | €338 | €2,988 | +€2,650 | +783% |
| Cash at bank and in hand | 54/58 | €29,342 | €68,610 | +€39,269 | +134% |
| Deferred charges and accrued income | 490/1 | €37,236 | €27,611 | -€9,625 | -25.8% |
| Total equity and liabilities | 10/49 | €135,952 | €234,593 | +€98,640 | +72.6% |
| Equity | 10/15 | €69,550 | €92,708 | +€23,157 | +33.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,950 | €74,108 | +€23,157 | +45.5% |
| Distributable reserves | 133 | €50,950 | €74,108 | +€23,157 | +45.5% |
| Amounts payable | 17/49 | €66,402 | €141,885 | +€75,483 | +114% |
| Amounts payable after more than one year | 17 | €34,053 | €78,055 | +€44,002 | +129% |
| Financial debts | 170/4 | €3,116 | €66,001 | +€62,884 | +2,018% |
| Other amounts payable | 178/9 | €30,936 | €12,054 | -€18,882 | -61.0% |
| Amounts payable within one year | 42/48 | €32,349 | €48,541 | +€16,191 | +50.1% |
| Current portion of amounts payable after more than one year | 42 | €3,531 | €21,464 | +€17,933 | +508% |
| Financial debts | 43 | €0 | €5,864 | +€5,864 | |
| Credit institutions | 430/8 | €0 | €5,864 | +€5,864 | |
| Trade debts | 44 | €16,398 | €15,011 | -€1,387 | -8.5% |
| Suppliers | 440/4 | €16,398 | €15,011 | -€1,387 | -8.5% |
| Taxes, remuneration and social security | 45 | €12,421 | €6,202 | -€6,219 | -50.1% |
| Taxes | 450/3 | €12,421 | €6,202 | -€6,219 | -50.1% |
| Accrued charges and deferred income | 492/3 | - | €15,290 | +€15,290 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,007 | €26,121 | +€18,114 | +226% |
| Other operating charges | 640/8 | €13,664 | €13,708 | +€43 | +0.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €75,198 | €79,322 | +€4,124 | +5.5% |
| Operating profit (loss) | 9901 | €53,526 | €39,493 | -€14,033 | -26.2% |
| Financial income | 75/76B | €45 | €278 | +€233 | +523% |
| Recurring financial income | 75 | €45 | €278 | +€233 | +523% |
| Financial charges | 65/66B | €5,486 | €7,286 | +€1,800 | +32.8% |
| Recurring financial charges | 65 | €5,486 | €7,286 | +€1,800 | +32.8% |
| Profit (loss) for the period before taxes | 9903 | €48,085 | €32,485 | -€15,601 | -32.4% |
| Income taxes | 67/77 | €14,039 | €9,328 | -€4,712 | -33.6% |
| Profit (loss) for the period | 9904 | €34,046 | €23,157 | -€10,889 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,046 | €23,157 | -€10,889 | -32.0% |
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 29 October 2026 via checked.be.