Pobaco: 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.
Pobaco
Largest movements
- Tangible fixed assets +€21.9m
new in 2025: €21.9m
- Stocks and contracts -€5.8m
down €5.8m (-97.2%), from €6.0m to €168,000
- Debts after one year +€18.0m
up €18.0m (+2,335%), from €772,475 to €18.8m
of which Financial debts: +€18.8m
- Short-term financial debts -€4.4m
down €4.4m (-100%), from €4.4m to €0
- Current portion of long-term debt +€1.2m
new in 2025: €1.2m
- Profit (loss) carried forward +€1.1m
up €1.1m (+2,822%), from €39,065 to €1.1m
- Other debts -€500,000
down €500,000 (-100%), from €500,000 to €0
- Gross operating margin +€1.8m
up €1.8m (+127%), from €1.4m to €3.1m
- Depreciation +€1.5m
new in 2025: €1.5m
- Other operating charges -€335,472
down €335,472 (-91.2%), from €367,884 to €32,413
- Taxes +€187,842
up €187,842 (+105%), from €179,688 to €367,530
- Financial charges -€135,628
down €135,628 (-45.8%), from €295,848 to €160,220
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 | €6,073,512 | €22,082,238 | +€16.0m | +264% |
| Fixed assets | 21/28 | - | €21,903,306 | +€21.9m | |
| Tangible fixed assets | 22/27 | - | €21,903,306 | +€21.9m | |
| Land and buildings | 22 | - | €21,903,306 | +€21.9m | |
| Current assets | 29/58 | €6,073,512 | €178,932 | -€5.9m | -97.1% |
| Stocks and contracts in progress | 3 | €5,968,000 | €168,000 | -€5.8m | -97.2% |
| Stocks | 30/36 | €5,968,000 | €168,000 | -€5.8m | -97.2% |
| Amounts receivable within one year | 40/41 | €5,000 | €1,020 | -€3,980 | -79.6% |
| Trade receivables | 40 | €5,000 | €1,020 | -€3,980 | -79.6% |
| Cash at bank and in hand | 54/58 | €98,816 | €6,946 | -€91,871 | -93.0% |
| Deferred charges and accrued income | 490/1 | €1,696 | €2,966 | +€1,270 | +74.9% |
| Total equity and liabilities | 10/49 | €6,073,512 | €22,082,238 | +€16.0m | +264% |
| Equity | 10/15 | €89,065 | €1,191,292 | +€1.1m | +1,238% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,065 | €1,141,292 | +€1.1m | +2,822% |
| Amounts payable | 17/49 | €5,984,448 | €20,890,946 | +€14.9m | +249% |
| Amounts payable after more than one year | 17 | €772,475 | €18,807,335 | +€18.0m | +2,335% |
| Financial debts | 170/4 | - | €18,800,000 | +€18.8m | |
| Other amounts payable | 178/9 | €772,475 | €7,335 | -€765,140 | -99.1% |
| Amounts payable within one year | 42/48 | €5,132,842 | €2,083,611 | -€3.0m | -59.4% |
| Current portion of amounts payable after more than one year | 42 | - | €1,200,000 | +€1.2m | |
| Financial debts | 43 | €4,389,699 | €0 | -€4.4m | -100% |
| Credit institutions | 430/8 | €4,389,699 | €0 | -€4.4m | -100% |
| Trade debts | 44 | €63,455 | €15,464 | -€47,991 | -75.6% |
| Suppliers | 440/4 | €63,455 | €15,464 | -€47,991 | -75.6% |
| Advances received on contracts in progress | 46 | - | €320,929 | +€320,929 | |
| Taxes, remuneration and social security | 45 | €179,688 | €547,218 | +€367,530 | +205% |
| Taxes | 450/3 | €179,688 | €547,218 | +€367,530 | +205% |
| Other amounts payable | 47/48 | €500,000 | €0 | -€500,000 | -100% |
| Accrued charges and deferred income | 492/3 | €79,130 | €0 | -€79,130 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,476,626 | +€1.5m | |
| Other operating charges | 640/8 | €367,884 | €32,413 | -€335,472 | -91.2% |
| Gross operating margin | 9900 | €1,382,485 | €3,139,016 | +€1.8m | +127% |
| Operating profit (loss) | 9901 | €1,014,600 | €1,629,977 | +€615,377 | +60.7% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €295,848 | €160,220 | -€135,628 | -45.8% |
| Recurring financial charges | 65 | €295,848 | €160,220 | -€135,628 | -45.8% |
| Profit (loss) for the period before taxes | 9903 | €718,753 | €1,469,757 | +€751,004 | +104% |
| Income taxes | 67/77 | €179,688 | €367,530 | +€187,842 | +105% |
| Profit (loss) for the period | 9904 | €539,065 | €1,102,227 | +€563,162 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €539,065 | €1,102,227 | +€563,162 | +104% |
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 15 October 2026 via checked.be.