Plus Group: what changed
Plus Group
Largest movements
- Receivables within one year +€2.3m
up €2.3m (+232%), from €994,898 to €3.3m
of which Other amounts receivable: +€1.2m
- Financial fixed assets +€1.9m
up €1.9m (+104%), from €1.8m to €3.7m
- Tangible fixed assets +€405,244
up €405,244 (+215%), from €188,296 to €593,540
of which Land and buildings: +€253,446
- Stocks and contracts -€171,049
down €171,049 (-100%), from €171,049 to €0
of which Stocks: -€143,234
- Cash -€144,073
down €144,073 (-11.4%), from €1.3m to €1.1m
- Accrued charges and deferred income +€2.2m
new in 2025: €2.2m
- Reserves +€1.7m
up €1.7m (+114%), from €1.5m to €3.2m
of which Distributable reserves: +€853,350
- Trade debts +€372,132
up €372,132 (+25.4%), from €1.5m to €1.8m
- Debts after one year +€324,575
up €324,575 (+42.2%), from €770,021 to €1.1m
- Tax, wage and social debts -€194,946
down €194,946 (-48.9%), from €398,329 to €203,383
of which Taxes: -€114,009
- Gross operating margin +€2.1m
up €2.1m (+121%), from €1.7m to €3.8m
- Taxes +€394,650
up €394,650 (+198%), from €199,085 to €593,735
- Staff costs +€292,907
up €292,907 (+35.9%), from €815,929 to €1.1m
- Depreciation +€141,408
up €141,408 (+162%), from €87,399 to €228,807
- Financial charges +€102,688
up €102,688 (+124%), from €82,825 to €185,513
Change in the result, 2023 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,457,904 | €8,846,662 | +€4.4m | +98.4% |
| Fixed assets | 21/28 | €2,009,712 | €4,285,990 | +€2.3m | +113% |
| Intangible fixed assets | 21 | €7,675 | €0 | -€7,675 | -100% |
| Tangible fixed assets | 22/27 | €188,296 | €593,540 | +€405,244 | +215% |
| Land and buildings | 22 | €7,769 | €261,215 | +€253,446 | +3,262% |
| Plant, machinery and equipment | 23 | €109,002 | €174,598 | +€65,596 | +60.2% |
| Furniture and vehicles | 24 | €69,036 | €156,374 | +€87,338 | +127% |
| Other tangible fixed assets | 26 | €2,490 | €1,354 | -€1,136 | -45.6% |
| Financial fixed assets | 28 | €1,813,741 | €3,692,450 | +€1.9m | +104% |
| Current assets | 29/58 | €2,448,191 | €4,560,671 | +€2.1m | +86.3% |
| Stocks and contracts in progress | 3 | €171,049 | €0 | -€171,049 | -100% |
| Stocks | 30/36 | €143,234 | €0 | -€143,234 | -100% |
| Contracts in progress | 37 | €27,816 | €0 | -€27,816 | -100% |
| Amounts receivable within one year | 40/41 | €994,898 | €3,298,663 | +€2.3m | +232% |
| Trade receivables | 40 | €810,314 | €1,892,156 | +€1.1m | +134% |
| Other amounts receivable | 41 | €184,584 | €1,406,507 | +€1.2m | +662% |
| Cash at bank and in hand | 54/58 | €1,260,079 | €1,116,006 | -€144,073 | -11.4% |
| Deferred charges and accrued income | 490/1 | €22,164 | €146,002 | +€123,838 | +559% |
| Total equity and liabilities | 10/49 | €4,457,904 | €8,846,662 | +€4.4m | +98.4% |
| Equity | 10/15 | €1,503,231 | €3,200,686 | +€1.7m | +113% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,484,631 | €3,182,086 | +€1.7m | +114% |
| Tax-exempt reserves | 132 | - | €844,105 | +€844,105 | |
| Distributable reserves | 133 | €1,484,631 | €2,337,981 | +€853,350 | +57.5% |
| Amounts payable | 17/49 | €2,954,673 | €5,645,976 | +€2.7m | +91.1% |
| Amounts payable after more than one year | 17 | €770,021 | €1,094,596 | +€324,575 | +42.2% |
| Financial debts | 170/4 | €770,021 | €1,094,596 | +€324,575 | +42.2% |
| Amounts payable within one year | 42/48 | €2,184,652 | €2,345,061 | +€160,409 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €185,815 | €291,447 | +€105,633 | +56.8% |
| Financial debts | 43 | €131,698 | €12,692 | -€119,006 | -90.4% |
| Credit institutions | 430/8 | €127,603 | €0 | -€127,603 | -100% |
| Other loans | 439 | €4,095 | €12,692 | +€8,597 | +210% |
| Trade debts | 44 | €1,463,070 | €1,835,202 | +€372,132 | +25.4% |
| Suppliers | 440/4 | €1,463,070 | €1,835,202 | +€372,132 | +25.4% |
| Taxes, remuneration and social security | 45 | €398,329 | €203,383 | -€194,946 | -48.9% |
| Taxes | 450/3 | €307,300 | €193,291 | -€114,009 | -37.1% |
| Remuneration and social security | 454/9 | €91,029 | €10,092 | -€80,937 | -88.9% |
| Other amounts payable | 47/48 | €5,739 | €2,336 | -€3,403 | -59.3% |
| Accrued charges and deferred income | 492/3 | - | €2,206,319 | +€2.2m | |
| Non-recurring operating income | 76A | €2,893 | €34,991 | +€32,099 | +1,110% |
| Remuneration, social security and pensions | 62 | €815,929 | €1,108,836 | +€292,907 | +35.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,399 | €228,807 | +€141,408 | +162% |
| Other operating charges | 640/8 | €13,233 | €31,953 | +€18,721 | +141% |
| Non-recurring operating charges | 66A | - | €14,234 | +€14,234 | |
| Gross operating margin | 9900 | €1,727,591 | €3,818,209 | +€2.1m | +121% |
| Operating profit (loss) | 9901 | €811,030 | €2,434,379 | +€1.6m | +200% |
| Financial income | 75/76B | €15,291 | €42,323 | +€27,032 | +177% |
| Recurring financial income | 75 | €15,291 | €42,323 | +€27,032 | +177% |
| Financial charges | 65/66B | €82,825 | €185,513 | +€102,688 | +124% |
| Recurring financial charges | 65 | €82,825 | €185,513 | +€102,688 | +124% |
| Profit (loss) for the period before taxes | 9903 | €743,497 | €2,291,190 | +€1.5m | +208% |
| Income taxes | 67/77 | €199,085 | €593,735 | +€394,650 | +198% |
| Profit (loss) for the period | 9904 | €544,412 | €1,697,455 | +€1.2m | +212% |
| Transfer to tax-exempt reserves | 689 | - | €844,105 | +€844,105 | |
| Profit (loss) for the period to be appropriated | 9905 | €544,412 | €853,350 | +€308,938 | +56.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 August 2023 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.