POBRA: 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.
POBRA
Largest movements
- Cash -€41,559
down €41,559 (-49.0%), from €84,874 to €43,315
mainly Contributions, distributions and other (-€76,774) and Debts after one year (-€44,107)
- Receivables within one year +€30,814
up €30,814 (+427%), from €7,212 to €38,027
of which Other amounts receivable: +€32,516
- Tangible fixed assets -€23,932
down €23,932 (-6.6%), from €363,209 to €339,277
of which Land and buildings: -€21,597
- Current investments +€17,442
up €17,442 (+68.4%), from €25,502 to €42,943
- Other debts +€68,068
up €68,068 (+991%), from €6,870 to €74,938
- Reserves -€48,756
down €48,756 (-27.8%), from €175,068 to €126,312
- Debts after one year -€44,107
down €44,107 (-19.5%), from €225,614 to €181,507
- Tax, wage and social debts +€6,878
up €6,878 (+1,492%), from €461 to €7,339
- Gross operating margin +€19,985
up €19,985 (+26.1%), from €76,491 to €96,477
- Depreciation +€8,672
up €8,672 (+23.3%), from €37,159 to €45,831
- Taxes +€8,057
up €8,057 (+200%), from €4,024 to €12,080
- Financial income +€2,716
up €2,716 (+249%), from €1,089 to €3,806
- Financial charges +€1,641
up €1,641 (+23.1%), from €7,116 to €8,756
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 | €482,662 | €466,302 | -€16,360 | -3.4% |
| Fixed assets | 21/28 | €363,259 | €339,326 | -€23,932 | -6.6% |
| Tangible fixed assets | 22/27 | €363,209 | €339,277 | -€23,932 | -6.6% |
| Land and buildings | 22 | €353,294 | €331,697 | -€21,597 | -6.1% |
| Plant, machinery and equipment | 23 | €9,915 | €7,580 | -€2,335 | -23.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €119,403 | €126,976 | +€7,572 | +6.3% |
| Amounts receivable within one year | 40/41 | €7,212 | €38,027 | +€30,814 | +427% |
| Trade receivables | 40 | €2,450 | €749 | -€1,701 | -69.4% |
| Other amounts receivable | 41 | €4,762 | €37,277 | +€32,516 | +683% |
| Current investments | 50/53 | €25,502 | €42,943 | +€17,442 | +68.4% |
| Cash at bank and in hand | 54/58 | €84,874 | €43,315 | -€41,559 | -49.0% |
| Deferred charges and accrued income | 490/1 | €1,815 | €2,690 | +€875 | +48.2% |
| Total equity and liabilities | 10/49 | €482,662 | €466,302 | -€16,360 | -3.4% |
| Equity | 10/15 | €206,068 | €157,312 | -€48,756 | -23.7% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €175,068 | €126,312 | -€48,756 | -27.8% |
| Distributable reserves | 133 | €175,068 | €126,312 | -€48,756 | -27.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €276,594 | €308,990 | +€32,396 | +11.7% |
| Amounts payable after more than one year | 17 | €225,614 | €181,507 | -€44,107 | -19.5% |
| Financial debts | 170/4 | €225,614 | €181,507 | -€44,107 | -19.5% |
| Amounts payable within one year | 42/48 | €50,980 | €127,483 | +€76,503 | +150% |
| Current portion of amounts payable after more than one year | 42 | €43,336 | €44,107 | +€771 | +1.8% |
| Trade debts | 44 | €314 | €1,100 | +€787 | +251% |
| Suppliers | 440/4 | €314 | €1,100 | +€787 | +251% |
| Taxes, remuneration and social security | 45 | €461 | €7,339 | +€6,878 | +1,492% |
| Taxes | 450/3 | €461 | €7,339 | +€6,878 | +1,492% |
| Other amounts payable | 47/48 | €6,870 | €74,938 | +€68,068 | +991% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,159 | €45,831 | +€8,672 | +23.3% |
| Other operating charges | 640/8 | €5,321 | €5,596 | +€274 | +5.2% |
| Gross operating margin | 9900 | €76,491 | €96,477 | +€19,985 | +26.1% |
| Operating profit (loss) | 9901 | €34,011 | €45,050 | +€11,039 | +32.5% |
| Financial income | 75/76B | €1,089 | €3,806 | +€2,716 | +249% |
| Recurring financial income | 75 | €1,089 | €3,806 | +€2,716 | +249% |
| Financial charges | 65/66B | €7,116 | €8,756 | +€1,641 | +23.1% |
| Recurring financial charges | 65 | €7,116 | €8,756 | +€1,641 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €27,985 | €40,099 | +€12,114 | +43.3% |
| Income taxes | 67/77 | €4,024 | €12,080 | +€8,057 | +200% |
| Profit (loss) for the period | 9904 | €23,961 | €28,019 | +€4,058 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,961 | €28,019 | +€4,058 | +16.9% |
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 16 October 2026 via checked.be.