P.P. TRANS: 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.P. TRANS
Largest movements
- Tangible fixed assets -€18,632
down €18,632 (-9.0%), from €207,165 to €188,534
- Cash -€8,622
down €8,622 (-13.0%), from €66,498 to €57,876
mainly Contributions, distributions and other (-€50,680) and Debts after one year (-€30,797)
- Receivables within one year -€4,568
down €4,568 (-13.1%), from €34,754 to €30,186
of which Trade receivables: -€6,053
- Other debts +€47,501
new in 2025: €47,501
- Reserves -€44,285
down €44,285 (-45.3%), from €97,816 to €53,531
of which Distributable reserves: -€44,285
- Debts after one year -€30,797
down €30,797 (-17.0%), from €180,735 to €149,937
- Advances received -€19,638
down €19,638 (-86.2%), from €22,770 to €3,132
- Current portion of long-term debt +€13,502
up €13,502 (+150%), from €8,988 to €22,489
- Gross operating margin -€15,563
down €15,563 (-23.1%), from €67,463 to €51,900
- Depreciation +€14,446
up €14,446 (+72.0%), from €20,051 to €34,497
- Taxes -€8,163
down €8,163 (-64.6%), from €12,635 to €4,471
- Financial charges +€1,881
up €1,881 (+37.0%), from €5,089 to €6,969
of which Non-recurring financial charges: +€3,149
- Financial income -€1,622
down €1,622 (-40.0%), from €4,053 to €2,430
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 | €387,670 | €356,693 | -€30,976 | -8.0% |
| Fixed assets | 21/28 | €207,165 | €188,534 | -€18,632 | -9.0% |
| Tangible fixed assets | 22/27 | €207,165 | €188,534 | -€18,632 | -9.0% |
| Land and buildings | 22 | €110,421 | €102,166 | -€8,255 | -7.5% |
| Plant, machinery and equipment | 23 | €9,062 | €5,835 | -€3,227 | -35.6% |
| Furniture and vehicles | 24 | €87,682 | €80,532 | -€7,150 | -8.2% |
| Current assets | 29/58 | €180,504 | €168,160 | -€12,345 | -6.8% |
| Amounts receivable after more than one year | 29 | €79,253 | €79,253 | = | 0.0% |
| Other amounts receivable | 291 | €79,253 | €79,253 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €34,754 | €30,186 | -€4,568 | -13.1% |
| Trade receivables | 40 | €15,922 | €9,868 | -€6,053 | -38.0% |
| Other amounts receivable | 41 | €18,832 | €20,318 | +€1,486 | +7.9% |
| Cash at bank and in hand | 54/58 | €66,498 | €57,876 | -€8,622 | -13.0% |
| Deferred charges and accrued income | 490/1 | - | €845 | +€845 | |
| Total equity and liabilities | 10/49 | €387,670 | €356,693 | -€30,976 | -8.0% |
| Equity | 10/15 | €160,742 | €116,457 | -€44,285 | -27.6% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €97,816 | €53,531 | -€44,285 | -45.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €95,957 | €51,672 | -€44,285 | -46.2% |
| Profit (loss) carried forward | 14 | €56,728 | €56,728 | = | 0.0% |
| Amounts payable | 17/49 | €226,928 | €240,237 | +€13,308 | +5.9% |
| Amounts payable after more than one year | 17 | €180,735 | €149,937 | -€30,797 | -17.0% |
| Financial debts | 170/4 | €180,735 | €149,937 | -€30,797 | -17.0% |
| Amounts payable within one year | 42/48 | €46,193 | €90,299 | +€44,106 | +95.5% |
| Current portion of amounts payable after more than one year | 42 | €8,988 | €22,489 | +€13,502 | +150% |
| Trade debts | 44 | €147 | €1,132 | +€984 | +667% |
| Suppliers | 440/4 | €147 | €1,132 | +€984 | +667% |
| Advances received on contracts in progress | 46 | €22,770 | €3,132 | -€19,638 | -86.2% |
| Taxes, remuneration and social security | 45 | €14,289 | €16,045 | +€1,756 | +12.3% |
| Taxes | 450/3 | €14,281 | €16,045 | +€1,764 | +12.3% |
| Remuneration and social security | 454/9 | €7 | - | -€7 | |
| Other amounts payable | 47/48 | - | €47,501 | +€47,501 | |
| Non-recurring operating income | 76A | €15,857 | €173 | -€15,684 | -98.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,051 | €34,497 | +€14,446 | +72.0% |
| Other operating charges | 640/8 | €1,459 | €1,997 | +€538 | +36.8% |
| Non-recurring operating charges | 66A | €3,480 | - | -€3,480 | |
| Gross operating margin | 9900 | €67,463 | €51,900 | -€15,563 | -23.1% |
| Operating profit (loss) | 9901 | €42,472 | €15,406 | -€27,067 | -63.7% |
| Financial income | 75/76B | €4,053 | €2,430 | -€1,622 | -40.0% |
| Recurring financial income | 75 | €4,053 | €2,430 | -€1,622 | -40.0% |
| Financial charges | 65/66B | €5,089 | €6,969 | +€1,881 | +37.0% |
| Recurring financial charges | 65 | €4,856 | €3,588 | -€1,269 | -26.1% |
| Non-recurring financial charges | 66B | €232 | €3,381 | +€3,149 | +1,356% |
| Profit (loss) for the period before taxes | 9903 | €41,437 | €10,867 | -€30,570 | -73.8% |
| Income taxes | 67/77 | €12,635 | €4,471 | -€8,163 | -64.6% |
| Profit (loss) for the period | 9904 | €28,802 | €6,395 | -€22,406 | -77.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,802 | €6,395 | -€22,406 | -77.8% |
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 30 October 2026 via checked.be.