PO-WOW: what changed
Two fiscal 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-WOW
Largest movements
- Receivables within one year -€34,662
down €34,662 (-57.2%), from €60,548 to €25,886
of which Trade receivables: -€42,662
- Tangible fixed assets -€13,234
down €13,234 (-25.1%), from €52,769 to €39,535
- Cash -€11,393
down €11,393 (-19.0%), from €60,105 to €48,712
mainly Net result for the year (-€20,536) and Contributions, distributions and other (-€18,089)
- Profit (loss) carried forward -€20,536
new in 2025: -€20,536
- Reserves -€18,089
down €18,089 (-16.0%), from €113,264 to €95,174
of which Distributable reserves: -€18,089
- Trade debts -€15,835
down €15,835 (-85.0%), from €18,620 to €2,785
- Debts after one year -€5,795
down €5,795 (-24.2%), from €23,956 to €18,161
- Gross operating margin -€49,315
down €49,315, from €44,153 to -€5,161
- Taxes -€10,549
no longer reported in 2025 (was €10,549)
- Depreciation +€5,460
up €5,460 (+70.2%), from €7,774 to €13,234
- Financial charges +€514
up €514 (+62.6%), from €821 to €1,335
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 | €175,487 | €116,260 | -€59,227 | -33.7% |
| Fixed assets | 21/28 | €52,860 | €39,626 | -€13,234 | -25.0% |
| Tangible fixed assets | 22/27 | €52,769 | €39,535 | -€13,234 | -25.1% |
| Furniture and vehicles | 24 | €52,769 | €39,535 | -€13,234 | -25.1% |
| Financial fixed assets | 28 | €92 | €92 | = | 0.0% |
| Current assets | 29/58 | €122,626 | €76,634 | -€45,993 | -37.5% |
| Amounts receivable within one year | 40/41 | €60,548 | €25,886 | -€34,662 | -57.2% |
| Trade receivables | 40 | €60,548 | €17,886 | -€42,662 | -70.5% |
| Other amounts receivable | 41 | - | €8,000 | +€8,000 | |
| Cash at bank and in hand | 54/58 | €60,105 | €48,712 | -€11,393 | -19.0% |
| Deferred charges and accrued income | 490/1 | €1,974 | €2,036 | +€63 | +3.2% |
| Total equity and liabilities | 10/49 | €175,487 | €116,260 | -€59,227 | -33.7% |
| Equity | 10/15 | €119,464 | €80,838 | -€38,625 | -32.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €113,264 | €95,174 | -€18,089 | -16.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €111,404 | €93,314 | -€18,089 | -16.2% |
| Profit (loss) carried forward | 14 | - | -€20,536 | -€20,536 | |
| Amounts payable | 17/49 | €56,023 | €35,422 | -€20,601 | -36.8% |
| Amounts payable after more than one year | 17 | €23,956 | €18,161 | -€5,795 | -24.2% |
| Financial debts | 170/4 | €23,956 | €18,161 | -€5,795 | -24.2% |
| Amounts payable within one year | 42/48 | €32,067 | €17,261 | -€14,806 | -46.2% |
| Current portion of amounts payable after more than one year | 42 | €7,500 | €7,349 | -€152 | -2.0% |
| Trade debts | 44 | €18,620 | €2,785 | -€15,835 | -85.0% |
| Suppliers | 440/4 | €18,620 | €2,785 | -€15,835 | -85.0% |
| Taxes, remuneration and social security | 45 | €5,870 | €6,804 | +€934 | +15.9% |
| Taxes | 450/3 | €5,870 | €6,804 | +€934 | +15.9% |
| Remuneration and social security | 454/9 | €0 | - | -€0 | |
| Other amounts payable | 47/48 | €77 | €323 | +€246 | +318.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,774 | €13,234 | +€5,460 | +70.2% |
| Other operating charges | 640/8 | €581 | €806 | +€225 | +38.8% |
| Gross operating margin | 9900 | €44,153 | -€5,161 | -€49,315 | |
| Operating profit (loss) | 9901 | €35,799 | -€19,201 | -€55,000 | |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €821 | €1,335 | +€514 | +62.6% |
| Recurring financial charges | 65 | €821 | €1,335 | +€514 | +62.6% |
| Profit (loss) for the period before taxes | 9903 | €34,983 | -€20,536 | -€55,519 | |
| Income taxes | 67/77 | €10,549 | - | -€10,549 | |
| Profit (loss) for the period | 9904 | €24,435 | -€20,536 | -€44,970 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,435 | -€20,536 | -€44,970 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.