POEF: 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.
POEF
Largest movements
- Cash +€21,069
up €21,069 (+61.1%), from €34,509 to €55,578
mainly Net result for the year (+€24,461) and Receivables within one year (+€5,005)
- Tangible fixed assets +€11,228
up €11,228 (+83.2%), from €13,498 to €24,725
of which Furniture and vehicles: +€11,631
- Receivables within one year -€5,005
down €5,005 (-20.1%), from €24,916 to €19,911
of which Trade receivables: -€5,005
- Reserves +€24,461
up €24,461 (+50.0%), from €48,885 to €73,347
- Other debts +€1,294
up €1,294 (+157.9%), from €820 to €2,113
- Trade debts +€1,168
up €1,168 (+35.8%), from €3,263 to €4,431
- Gross operating margin +€7,330
up €7,330 (+24.0%), from €30,489 to €37,819
- Taxes +€2,080
up €2,080 (+31.8%), from €6,532 to €8,612
- Depreciation +€524
up €524 (+19.2%), from €2,733 to €3,257
- Other operating charges -€424
down €424 (-34.2%), from €1,241 to €816
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 | €74,331 | €101,745 | +€27,414 | +36.9% |
| Fixed assets | 21/28 | €13,613 | €24,840 | +€11,228 | +82.5% |
| Tangible fixed assets | 22/27 | €13,498 | €24,725 | +€11,228 | +83.2% |
| Plant, machinery and equipment | 23 | €1,144 | €740 | -€404 | -35.3% |
| Furniture and vehicles | 24 | €12,354 | €23,985 | +€11,631 | +94.2% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €60,719 | €76,905 | +€16,186 | +26.7% |
| Amounts receivable within one year | 40/41 | €24,916 | €19,911 | -€5,005 | -20.1% |
| Trade receivables | 40 | €24,754 | €19,749 | -€5,005 | -20.2% |
| Other amounts receivable | 41 | €162 | €162 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €34,509 | €55,578 | +€21,069 | +61.1% |
| Deferred charges and accrued income | 490/1 | €1,294 | €1,417 | +€123 | +9.5% |
| Total equity and liabilities | 10/49 | €74,331 | €101,745 | +€27,414 | +36.9% |
| Equity | 10/15 | €50,885 | €75,347 | +€24,461 | +48.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €48,885 | €73,347 | +€24,461 | +50.0% |
| Distributable reserves | 133 | €48,885 | €73,347 | +€24,461 | +50.0% |
| Amounts payable | 17/49 | €23,446 | €26,399 | +€2,953 | +12.6% |
| Amounts payable within one year | 42/48 | €23,446 | €26,399 | +€2,953 | +12.6% |
| Trade debts | 44 | €3,263 | €4,431 | +€1,168 | +35.8% |
| Suppliers | 440/4 | €3,263 | €4,431 | +€1,168 | +35.8% |
| Taxes, remuneration and social security | 45 | €19,363 | €19,854 | +€491 | +2.5% |
| Taxes | 450/3 | €17,054 | €19,854 | +€2,800 | +16.4% |
| Remuneration and social security | 454/9 | €2,309 | - | -€2,309 | |
| Other amounts payable | 47/48 | €820 | €2,113 | +€1,294 | +157.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,733 | €3,257 | +€524 | +19.2% |
| Other operating charges | 640/8 | €1,241 | €816 | -€424 | -34.2% |
| Gross operating margin | 9900 | €30,489 | €37,819 | +€7,330 | +24.0% |
| Operating profit (loss) | 9901 | €26,516 | €33,745 | +€7,229 | +27.3% |
| Financial income | 75/76B | €12 | €29 | +€17 | +145.5% |
| Recurring financial income | 75 | €12 | €29 | +€17 | +145.5% |
| Financial charges | 65/66B | €981 | €701 | -€280 | -28.6% |
| Recurring financial charges | 65 | €981 | €701 | -€280 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €25,547 | €33,073 | +€7,526 | +29.5% |
| Income taxes | 67/77 | €6,532 | €8,612 | +€2,080 | +31.8% |
| Profit (loss) for the period | 9904 | €19,015 | €24,461 | +€5,446 | +28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,015 | €24,461 | +€5,446 | +28.6% |
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 7 October 2026 via checked.be.