PERSUA: 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.
PERSUA
Largest movements
- Cash +€764,245
up €764,245 (+154.1%), from €495,814 to €1.3m
mainly Net result for the year (+€403,612) and Current investments (+€324,390)
- Current investments -€324,390
down €324,390 (-49.9%), from €649,999 to €325,608
- Tangible fixed assets -€50,043
down €50,043 (-17.2%), from €290,767 to €240,723
of which Land and buildings: -€32,046
- Receivables within one year +€25,379
up €25,379 (+8.1%), from €315,015 to €340,394
of which Trade receivables: +€221,298
- Reserves +€402,812
up €402,812 (+27.6%), from €1.5m to €1.9m
of which Distributable reserves: +€402,812
- Gross operating margin +€215,243
up €215,243 (+16.8%), from €1.3m to €1.5m
- Provisions -€83,229
no longer reported in 2025 (was €83,229)
- Taxes +€69,528
up €69,528 (+58.3%), from €119,213 to €188,741
- Financial charges +€58,679
up €58,679 (+59.4%), from €98,838 to €157,517
- Staff costs +€20,537
up €20,537 (+3.0%), from €691,186 to €711,723
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 | €1,757,184 | €2,173,143 | +€415,959 | +23.7% |
| Fixed assets | 21/28 | €290,767 | €240,723 | -€50,043 | -17.2% |
| Tangible fixed assets | 22/27 | €290,767 | €240,723 | -€50,043 | -17.2% |
| Land and buildings | 22 | €227,205 | €195,159 | -€32,046 | -14.1% |
| Plant, machinery and equipment | 23 | €27,633 | €24,179 | -€3,454 | -12.5% |
| Furniture and vehicles | 24 | €35,929 | €21,386 | -€14,543 | -40.5% |
| Current assets | 29/58 | €1,466,417 | €1,932,420 | +€466,003 | +31.8% |
| Stocks and contracts in progress | 3 | €413 | €413 | = | 0.0% |
| Stocks | 30/36 | €413 | €413 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €315,015 | €340,394 | +€25,379 | +8.1% |
| Trade receivables | 40 | €29,699 | €250,997 | +€221,298 | +745.1% |
| Other amounts receivable | 41 | €285,315 | €89,396 | -€195,919 | -68.7% |
| Current investments | 50/53 | €649,999 | €325,608 | -€324,390 | -49.9% |
| Cash at bank and in hand | 54/58 | €495,814 | €1,260,059 | +€764,245 | +154.1% |
| Deferred charges and accrued income | 490/1 | €5,177 | €5,946 | +€769 | +14.9% |
| Total equity and liabilities | 10/49 | €1,757,184 | €2,173,143 | +€415,959 | +23.7% |
| Equity | 10/15 | €1,467,107 | €1,869,919 | +€402,812 | +27.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,460,907 | €1,863,719 | +€402,812 | +27.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,459,047 | €1,861,859 | +€402,812 | +27.6% |
| Provisions and deferred taxes | 16 | €83,229 | €83,229 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €83,229 | €83,229 | = | 0.0% |
| Major repairs and maintenance | 162 | €83,229 | €83,229 | = | 0.0% |
| Amounts payable | 17/49 | €206,849 | €219,996 | +€13,147 | +6.4% |
| Amounts payable within one year | 42/48 | €206,849 | €219,996 | +€13,147 | +6.4% |
| Financial debts | 43 | €1,332 | €1,332 | = | 0.0% |
| Other loans | 439 | €1,332 | €1,332 | = | 0.0% |
| Trade debts | 44 | €68,167 | €56,177 | -€11,990 | -17.6% |
| Suppliers | 440/4 | €68,167 | €56,177 | -€11,990 | -17.6% |
| Taxes, remuneration and social security | 45 | €130,072 | €149,137 | +€19,065 | +14.7% |
| Taxes | 450/3 | €1,157 | €34,335 | +€33,179 | +2868.8% |
| Remuneration and social security | 454/9 | €128,916 | €114,802 | -€14,114 | -10.9% |
| Other amounts payable | 47/48 | €7,277 | €13,349 | +€6,073 | +83.5% |
| Remuneration, social security and pensions | 62 | €691,186 | €711,723 | +€20,537 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,446 | €51,887 | +€4,442 | +9.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €83,229 | - | -€83,229 | |
| Other operating charges | 640/8 | €4,251 | €4,566 | +€315 | +7.4% |
| Gross operating margin | 9900 | €1,283,586 | €1,498,828 | +€215,243 | +16.8% |
| Operating profit (loss) | 9901 | €457,474 | €730,651 | +€273,177 | +59.7% |
| Financial income | 75/76B | €11,145 | €19,219 | +€8,074 | +72.4% |
| Recurring financial income | 75 | €11,145 | €19,219 | +€8,074 | +72.4% |
| Financial charges | 65/66B | €98,838 | €157,517 | +€58,679 | +59.4% |
| Recurring financial charges | 65 | €98,838 | €157,517 | +€58,679 | +59.4% |
| Profit (loss) for the period before taxes | 9903 | €369,781 | €592,353 | +€222,572 | +60.2% |
| Income taxes | 67/77 | €119,213 | €188,741 | +€69,528 | +58.3% |
| Profit (loss) for the period | 9904 | €250,568 | €403,612 | +€153,045 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €250,568 | €403,612 | +€153,045 | +61.1% |
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 9 October 2026 via checked.be.