PLUTO: 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.
PLUTO
Largest movements
- Receivables within one year +€64,383
up €64,383 (+22.2%), from €290,366 to €354,749
of which Trade receivables: +€54,190
- Cash +€34,619
up €34,619 (+125%), from €27,777 to €62,396
mainly Short-term financial debts (+€160,000) and Net result for the year (+€32,076)
- Tangible fixed assets -€17,898
down €17,898 (-14.0%), from €127,686 to €109,788
of which Other tangible fixed assets: -€12,671
- Deferred charges and accrued income +€13,146
up €13,146 (+21.0%), from €62,478 to €75,624
- Short-term financial debts +€160,000
up €160,000 (+1,600%), from €10,000 to €170,000
- Trade debts -€78,893
down €78,893 (-25.3%), from €311,233 to €232,340
- Reserves +€32,076
up €32,076 (+8.7%), from €367,558 to €399,634
of which Distributable reserves: +€32,076
- Debts after one year -€26,333
down €26,333 (-39.5%), from €66,643 to €40,309
- Tax, wage and social debts +€22,871
up €22,871 (+51.8%), from €44,176 to €67,047
of which Taxes: +€16,484
- Gross operating margin +€40,328
up €40,328 (+7.6%), from €531,176 to €571,504
- Financial income -€24,175
down €24,175 (-66.2%), from €36,532 to €12,358
- Staff costs -€20,743
down €20,743 (-4.8%), from €429,104 to €408,361
- Taxes +€11,041
up €11,041 (+209%), from €5,284 to €16,325
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 | €1,120,858 | €1,220,723 | +€99,865 | +8.9% |
| Fixed assets | 21/28 | €141,062 | €121,013 | -€20,049 | -14.2% |
| Tangible fixed assets | 22/27 | €127,686 | €109,788 | -€17,898 | -14.0% |
| Plant, machinery and equipment | 23 | €23,618 | €16,252 | -€7,366 | -31.2% |
| Furniture and vehicles | 24 | €22,483 | €24,622 | +€2,140 | +9.5% |
| Other tangible fixed assets | 26 | €81,584 | €68,914 | -€12,671 | -15.5% |
| Financial fixed assets | 28 | €13,376 | €11,225 | -€2,151 | -16.1% |
| Current assets | 29/58 | €979,796 | €1,099,709 | +€119,913 | +12.2% |
| Stocks and contracts in progress | 3 | €599,175 | €606,940 | +€7,765 | +1.3% |
| Stocks | 30/36 | €599,175 | €606,940 | +€7,765 | +1.3% |
| Amounts receivable within one year | 40/41 | €290,366 | €354,749 | +€64,383 | +22.2% |
| Trade receivables | 40 | €246,794 | €300,984 | +€54,190 | +22.0% |
| Other amounts receivable | 41 | €43,572 | €53,765 | +€10,193 | +23.4% |
| Cash at bank and in hand | 54/58 | €27,777 | €62,396 | +€34,619 | +125% |
| Deferred charges and accrued income | 490/1 | €62,478 | €75,624 | +€13,146 | +21.0% |
| Total equity and liabilities | 10/49 | €1,120,858 | €1,220,723 | +€99,865 | +8.9% |
| Equity | 10/15 | €576,685 | €608,761 | +€32,076 | +5.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €367,558 | €399,634 | +€32,076 | +8.7% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €347,558 | €379,634 | +€32,076 | +9.2% |
| Profit (loss) carried forward | 14 | €9,128 | €9,128 | = | 0.0% |
| Amounts payable | 17/49 | €544,172 | €611,961 | +€67,789 | +12.5% |
| Amounts payable after more than one year | 17 | €66,643 | €40,309 | -€26,333 | -39.5% |
| Trade debts | 175 | €66,643 | €40,309 | -€26,333 | -39.5% |
| Amounts payable within one year | 42/48 | €391,319 | €495,720 | +€104,402 | +26.7% |
| Current portion of amounts payable after more than one year | 42 | €25,910 | €26,333 | +€423 | +1.6% |
| Financial debts | 43 | €10,000 | €170,000 | +€160,000 | +1,600% |
| Credit institutions | 430/8 | €10,000 | €170,000 | +€160,000 | +1,600% |
| Trade debts | 44 | €311,233 | €232,340 | -€78,893 | -25.3% |
| Suppliers | 440/4 | €311,233 | €232,340 | -€78,893 | -25.3% |
| Taxes, remuneration and social security | 45 | €44,176 | €67,047 | +€22,871 | +51.8% |
| Taxes | 450/3 | €10,142 | €26,625 | +€16,484 | +163% |
| Remuneration and social security | 454/9 | €34,034 | €40,421 | +€6,387 | +18.8% |
| Accrued charges and deferred income | 492/3 | €86,211 | €75,932 | -€10,279 | -11.9% |
| Non-recurring operating income | 76A | €8,123 | €13,476 | +€5,353 | +65.9% |
| Remuneration, social security and pensions | 62 | €429,104 | €408,361 | -€20,743 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,516 | €28,986 | -€3,530 | -10.9% |
| Other operating charges | 640/8 | €4,109 | €3,347 | -€762 | -18.5% |
| Gross operating margin | 9900 | €531,176 | €571,504 | +€40,328 | +7.6% |
| Operating profit (loss) | 9901 | €65,447 | €130,810 | +€65,363 | +99.9% |
| Financial income | 75/76B | €36,532 | €12,358 | -€24,175 | -66.2% |
| Recurring financial income | 75 | €36,532 | €12,358 | -€24,175 | -66.2% |
| Financial charges | 65/66B | €93,652 | €94,767 | +€1,115 | +1.2% |
| Recurring financial charges | 65 | €93,652 | €94,767 | +€1,115 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €8,327 | €48,401 | +€40,073 | +481% |
| Income taxes | 67/77 | €5,284 | €16,325 | +€11,041 | +209% |
| Profit (loss) for the period | 9904 | €3,044 | €32,076 | +€29,032 | +954% |
| Profit (loss) for the period to be appropriated | 9905 | €3,044 | €32,076 | +€29,032 | +954% |
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 18 October 2026 via checked.be.