PLUG & WORK: 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.
PLUG & WORK
Largest movements
- Cash -€16,509
down €16,509 (-99.9%), from €16,529 to €19
mainly Trade debts (-€9,431) and Stocks and contracts (-€4,438)
- Receivables within one year -€5,868
down €5,868 (-7.0%), from €84,071 to €78,203
of which Trade receivables: -€8,052
- Stocks and contracts +€4,438
new in 2025: €4,438
- Formation expenses -€1,118
no longer reported in 2025 (was €1,118)
- Trade debts -€9,431
down €9,431 (-38.7%), from €24,394 to €14,962
- Profit (loss) carried forward -€4,386
down €4,386 (-14.9%), from €29,455 to €25,069
- Tax, wage and social debts -€4,327
no longer reported in 2025 (was €4,327)
- Other debts -€1,091
down €1,091 (-3.2%), from €34,247 to €33,156
- Write-downs -€51,211
no longer reported in 2025 (was €51,211)
- Gross operating margin -€12,206
down €12,206, from €10,123 to -€2,083
- Taxes -€7,303
no longer reported in 2025 (was €7,303)
- Depreciation +€1,118
new in 2025: €1,118
- Other operating charges +€425
up €425 (+110%), from €387 to €813
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 | €101,719 | €82,660 | -€19,058 | -18.7% |
| Formation expenses | 20 | €1,118 | - | -€1,118 | |
| Current assets | 29/58 | €100,600 | €82,660 | -€17,940 | -17.8% |
| Stocks and contracts in progress | 3 | - | €4,438 | +€4,438 | |
| Stocks | 30/36 | - | €4,438 | +€4,438 | |
| Amounts receivable within one year | 40/41 | €84,071 | €78,203 | -€5,868 | -7.0% |
| Trade receivables | 40 | €84,071 | €76,020 | -€8,052 | -9.6% |
| Other amounts receivable | 41 | - | €2,183 | +€2,183 | |
| Cash at bank and in hand | 54/58 | €16,529 | €19 | -€16,509 | -99.9% |
| Total equity and liabilities | 10/49 | €101,719 | €82,660 | -€19,058 | -18.7% |
| Equity | 10/15 | €38,751 | €34,365 | -€4,386 | -11.3% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,455 | €25,069 | -€4,386 | -14.9% |
| Amounts payable | 17/49 | €62,968 | €48,296 | -€14,672 | -23.3% |
| Amounts payable within one year | 42/48 | €62,968 | €48,296 | -€14,672 | -23.3% |
| Trade debts | 44 | €24,394 | €14,962 | -€9,431 | -38.7% |
| Suppliers | 440/4 | €24,394 | €14,962 | -€9,431 | -38.7% |
| Advances received on contracts in progress | 46 | - | €177 | +€177 | |
| Taxes, remuneration and social security | 45 | €4,327 | - | -€4,327 | |
| Taxes | 450/3 | €4,327 | - | -€4,327 | |
| Other amounts payable | 47/48 | €34,247 | €33,156 | -€1,091 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,118 | +€1,118 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €51,211 | - | -€51,211 | |
| Other operating charges | 640/8 | €387 | €813 | +€425 | +110% |
| Gross operating margin | 9900 | €10,123 | -€2,083 | -€12,206 | |
| Operating profit (loss) | 9901 | -€41,476 | -€4,014 | +€37,462 | +90.3% |
| Financial charges | 65/66B | €656 | €372 | -€283 | -43.2% |
| Recurring financial charges | 65 | €656 | €372 | -€283 | -43.2% |
| Profit (loss) for the period before taxes | 9903 | -€42,132 | -€4,386 | +€37,746 | +89.6% |
| Income taxes | 67/77 | €7,303 | - | -€7,303 | |
| Profit (loss) for the period | 9904 | -€49,435 | -€4,386 | +€45,049 | +91.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,435 | -€4,386 | +€45,049 | +91.1% |
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 25 October 2026 via checked.be.