Po&Ma: 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.
Po&Ma
Largest movements
- Cash +€24,560
up €24,560 (+732%), from €3,357 to €27,917
mainly Net result for the year (+€25,941) and Depreciation (+€20,480)
- Tangible fixed assets -€17,499
down €17,499 (-2.9%), from €600,555 to €583,056
of which Land and buildings: -€10,419
- Receivables within one year -€7,702
down €7,702 (-32.0%), from €24,070 to €16,369
of which Other amounts receivable: -€7,702
- Stocks and contracts +€7,118
new in 2025: €7,118
- Debts after one year -€27,509
down €27,509 (-6.7%), from €410,524 to €383,015
- Reserves +€25,941
up €25,941 (+14.6%), from €178,221 to €204,161
- Gross operating margin +€44,347
up €44,347 (+257%), from €17,261 to €61,607
- Taxes +€6,370
up €6,370 (+5,020%), from €127 to €6,496
- Financial charges -€1,109
down €1,109 (-12.5%), from €8,858 to €7,749
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 | €629,937 | €635,830 | +€5,893 | +0.9% |
| Fixed assets | 21/28 | €600,555 | €583,056 | -€17,499 | -2.9% |
| Tangible fixed assets | 22/27 | €600,555 | €583,056 | -€17,499 | -2.9% |
| Land and buildings | 22 | €570,272 | €559,853 | -€10,419 | -1.8% |
| Plant, machinery and equipment | 23 | €28,757 | €19,589 | -€9,167 | -31.9% |
| Furniture and vehicles | 24 | €1,526 | €3,614 | +€2,087 | +137% |
| Current assets | 29/58 | €29,382 | €52,774 | +€23,392 | +79.6% |
| Stocks and contracts in progress | 3 | - | €7,118 | +€7,118 | |
| Stocks | 30/36 | - | €7,118 | +€7,118 | |
| Amounts receivable within one year | 40/41 | €24,070 | €16,369 | -€7,702 | -32.0% |
| Trade receivables | 40 | €7,865 | €7,865 | = | 0.0% |
| Other amounts receivable | 41 | €16,205 | €8,504 | -€7,702 | -47.5% |
| Cash at bank and in hand | 54/58 | €3,357 | €27,917 | +€24,560 | +732% |
| Deferred charges and accrued income | 490/1 | €1,955 | €1,371 | -€584 | -29.9% |
| Total equity and liabilities | 10/49 | €629,937 | €635,830 | +€5,893 | +0.9% |
| Equity | 10/15 | €185,221 | €211,161 | +€25,941 | +14.0% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €178,221 | €204,161 | +€25,941 | +14.6% |
| Distributable reserves | 133 | €178,221 | €204,161 | +€25,941 | +14.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €444,717 | €424,669 | -€20,048 | -4.5% |
| Amounts payable after more than one year | 17 | €410,524 | €383,015 | -€27,509 | -6.7% |
| Financial debts | 170/4 | €410,524 | €383,015 | -€27,509 | -6.7% |
| Amounts payable within one year | 42/48 | €33,987 | €41,654 | +€7,667 | +22.6% |
| Current portion of amounts payable after more than one year | 42 | €27,016 | €31,061 | +€4,045 | +15.0% |
| Trade debts | 44 | €773 | €290 | -€482 | -62.4% |
| Suppliers | 440/4 | €773 | €290 | -€482 | -62.4% |
| Advances received on contracts in progress | 46 | €1,050 | €1,150 | +€100 | +9.5% |
| Taxes, remuneration and social security | 45 | €482 | €1,685 | +€1,203 | +250% |
| Taxes | 450/3 | €13 | €1,685 | +€1,672 | +12,665% |
| Remuneration and social security | 454/9 | €468 | €0 | -€468 | -100% |
| Other amounts payable | 47/48 | €4,667 | €7,467 | +€2,801 | +60.0% |
| Accrued charges and deferred income | 492/3 | €205 | €0 | -€205 | -100% |
| Non-recurring operating income | 76A | - | €2,715 | +€2,715 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,239 | €20,480 | +€242 | +1.2% |
| Other operating charges | 640/8 | €792 | €941 | +€148 | +18.7% |
| Gross operating margin | 9900 | €17,261 | €61,607 | +€44,347 | +257% |
| Operating profit (loss) | 9901 | -€3,770 | €40,186 | +€43,957 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €8,858 | €7,749 | -€1,109 | -12.5% |
| Recurring financial charges | 65 | €8,858 | €7,749 | -€1,109 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | -€12,628 | €32,437 | +€45,065 | |
| Income taxes | 67/77 | €127 | €6,496 | +€6,370 | +5,020% |
| Profit (loss) for the period | 9904 | -€12,755 | €25,941 | +€38,696 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,755 | €25,941 | +€38,696 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.