POBENCO: 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.
POBENCO
Largest movements
- Receivables within one year -€148,761
down €148,761 (-45.2%), from €329,109 to €180,348
of which Trade receivables: -€117,387
- Tangible fixed assets -€111,321
down €111,321 (-6.1%), from €1.8m to €1.7m
of which Land and buildings: -€85,994
- Reserves -€125,000
down €125,000 (-10.9%), from €1.1m to €1.0m
of which Distributable reserves: -€125,000
- Trade debts -€98,425
down €98,425 (-33.0%), from €297,944 to €199,519
- Debts after one year -€75,787
down €75,787 (-6.4%), from €1.2m to €1.1m
of which Financial debts: -€79,329
- Other debts +€60,000
up €60,000 (+50.0%), from €120,000 to €180,000
- Gross operating margin -€109,769
down €109,769 (-17.1%), from €641,494 to €531,725
- Taxes -€44,946
down €44,946 (-70.5%), from €63,771 to €18,825
- Depreciation +€43,544
up €43,544 (+28.2%), from €154,293 to €197,837
- Staff costs -€34,553
down €34,553 (-18.2%), from €189,568 to €155,015
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 | €3,298,008 | €3,061,009 | -€236,999 | -7.2% |
| Fixed assets | 21/28 | €1,815,305 | €1,703,984 | -€111,321 | -6.1% |
| Tangible fixed assets | 22/27 | €1,814,732 | €1,703,411 | -€111,321 | -6.1% |
| Land and buildings | 22 | €1,260,619 | €1,174,624 | -€85,994 | -6.8% |
| Plant, machinery and equipment | 23 | €503,681 | €452,491 | -€51,190 | -10.2% |
| Furniture and vehicles | 24 | €50,432 | €76,296 | +€25,863 | +51.3% |
| Financial fixed assets | 28 | €573 | €573 | = | 0.0% |
| Current assets | 29/58 | €1,482,703 | €1,357,025 | -€125,678 | -8.5% |
| Stocks and contracts in progress | 3 | €450,963 | €459,743 | +€8,779 | +1.9% |
| Stocks | 30/36 | €450,963 | €459,743 | +€8,779 | +1.9% |
| Amounts receivable within one year | 40/41 | €329,109 | €180,348 | -€148,761 | -45.2% |
| Trade receivables | 40 | €224,948 | €107,561 | -€117,387 | -52.2% |
| Other amounts receivable | 41 | €104,161 | €72,787 | -€31,374 | -30.1% |
| Cash at bank and in hand | 54/58 | €695,530 | €709,526 | +€13,996 | +2.0% |
| Deferred charges and accrued income | 490/1 | €7,101 | €7,408 | +€308 | +4.3% |
| Total equity and liabilities | 10/49 | €3,298,008 | €3,061,009 | -€236,999 | -7.2% |
| Equity | 10/15 | €1,605,849 | €1,472,301 | -€133,548 | -8.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,145,197 | €1,020,197 | -€125,000 | -10.9% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €1,139,000 | €1,014,000 | -€125,000 | -11.0% |
| Profit (loss) carried forward | 14 | €335,650 | €336,093 | +€444 | +0.1% |
| Investment grants | 15 | €63,029 | €54,037 | -€8,992 | -14.3% |
| Amounts payable | 17/49 | €1,692,159 | €1,588,708 | -€103,451 | -6.1% |
| Amounts payable after more than one year | 17 | €1,176,309 | €1,100,522 | -€75,787 | -6.4% |
| Financial debts | 170/4 | €1,112,213 | €1,032,884 | -€79,329 | -7.1% |
| Other amounts payable | 178/9 | €64,096 | €67,638 | +€3,542 | +5.5% |
| Amounts payable within one year | 42/48 | €510,790 | €483,536 | -€27,254 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €78,476 | €79,329 | +€853 | +1.1% |
| Trade debts | 44 | €297,944 | €199,519 | -€98,425 | -33.0% |
| Suppliers | 440/4 | €297,944 | €199,519 | -€98,425 | -33.0% |
| Taxes, remuneration and social security | 45 | €14,370 | €24,688 | +€10,318 | +71.8% |
| Taxes | 450/3 | €35 | €13,536 | +€13,501 | +38,574% |
| Remuneration and social security | 454/9 | €14,335 | €11,152 | -€3,183 | -22.2% |
| Other amounts payable | 47/48 | €120,000 | €180,000 | +€60,000 | +50.0% |
| Accrued charges and deferred income | 492/3 | €5,060 | €4,650 | -€410 | -8.1% |
| Remuneration, social security and pensions | 62 | €189,568 | €155,015 | -€34,553 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,293 | €197,837 | +€43,544 | +28.2% |
| Other operating charges | 640/8 | €13,602 | €18,544 | +€4,943 | +36.3% |
| Non-recurring operating charges | 66A | €35,122 | €86,670 | +€51,548 | +147% |
| Gross operating margin | 9900 | €641,494 | €531,725 | -€109,769 | -17.1% |
| Operating profit (loss) | 9901 | €248,909 | €73,658 | -€175,251 | -70.4% |
| Financial income | 75/76B | €18,292 | €18,586 | +€295 | +1.6% |
| Recurring financial income | 75 | €18,292 | €18,586 | +€295 | +1.6% |
| Financial charges | 65/66B | €19,067 | €17,976 | -€1,091 | -5.7% |
| Recurring financial charges | 65 | €19,067 | €17,976 | -€1,091 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €248,133 | €74,269 | -€173,865 | -70.1% |
| Income taxes | 67/77 | €63,771 | €18,825 | -€44,946 | -70.5% |
| Profit (loss) for the period | 9904 | €184,363 | €55,444 | -€128,919 | -69.9% |
| Profit (loss) for the period to be appropriated | 9905 | €184,363 | €55,444 | -€128,919 | -69.9% |
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 14 October 2026 via checked.be.