POEVACO: 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.
POEVACO
Largest movements
- Cash -€273,780
down €273,780 (-45.5%), from €601,602 to €327,822
mainly Trade debts (-€105,724) and Net result for the year (-€97,501)
- Stocks and contracts -€86,826
down €86,826 (-21.7%), from €400,305 to €313,480
- Receivables within one year +€55,220
up €55,220 (+117.0%), from €47,205 to €102,425
of which Other amounts receivable: +€58,784
- Tangible fixed assets -€23,464
down €23,464 (-10.4%), from €224,823 to €201,359
of which Land and buildings: -€21,631
- Trade debts -€105,724
down €105,724 (-14.6%), from €725,893 to €620,169
- Reserves -€97,501
down €97,501 (-28.2%), from €345,168 to €247,667
of which Distributable reserves: -€97,501
- Tax, wage and social debts -€88,430
down €88,430 (-100.0%), from €88,430 to €0
- Current portion of long-term debt -€53,577
down €53,577 (-100.0%), from €53,577 to €0
- Gross operating margin -€444,025
down €444,025, from €413,105 to -€30,920
- Taxes -€92,531
down €92,531 (-100.0%), from €92,531 to €0
- Depreciation -€7,295
down €7,295 (-13.2%), from €55,454 to €48,159
- Other operating charges +€4,565
up €4,565 (+96.6%), from €4,723 to €9,288
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 | €1,285,910 | €954,914 | -€330,996 | -25.7% |
| Fixed assets | 21/28 | €232,922 | €206,988 | -€25,934 | -11.1% |
| Intangible fixed assets | 21 | €7,849 | €5,379 | -€2,470 | -31.5% |
| Tangible fixed assets | 22/27 | €224,823 | €201,359 | -€23,464 | -10.4% |
| Land and buildings | 22 | €219,799 | €198,168 | -€21,631 | -9.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €5,024 | €3,191 | -€1,833 | -36.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €1,052,987 | €747,926 | -€305,062 | -29.0% |
| Stocks and contracts in progress | 3 | €400,305 | €313,480 | -€86,826 | -21.7% |
| Stocks | 30/36 | €400,305 | €313,480 | -€86,826 | -21.7% |
| Amounts receivable within one year | 40/41 | €47,205 | €102,425 | +€55,220 | +117.0% |
| Trade receivables | 40 | €45,453 | €41,889 | -€3,564 | -7.8% |
| Other amounts receivable | 41 | €1,753 | €60,536 | +€58,784 | +3354.3% |
| Cash at bank and in hand | 54/58 | €601,602 | €327,822 | -€273,780 | -45.5% |
| Deferred charges and accrued income | 490/1 | €3,875 | €4,199 | +€324 | +8.4% |
| Total equity and liabilities | 10/49 | €1,285,910 | €954,914 | -€330,996 | -25.7% |
| Equity | 10/15 | €407,168 | €309,667 | -€97,501 | -23.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €345,168 | €247,667 | -€97,501 | -28.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €338,968 | €241,467 | -€97,501 | -28.8% |
| Amounts payable | 17/49 | €878,742 | €645,247 | -€233,495 | -26.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €867,900 | €623,563 | -€244,337 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €53,577 | €0 | -€53,577 | -100.0% |
| Trade debts | 44 | €725,893 | €620,169 | -€105,724 | -14.6% |
| Suppliers | 440/4 | €725,893 | €620,169 | -€105,724 | -14.6% |
| Advances received on contracts in progress | 46 | - | €3,122 | +€3,122 | |
| Taxes, remuneration and social security | 45 | €88,430 | €0 | -€88,430 | -100.0% |
| Taxes | 450/3 | €88,430 | €0 | -€88,430 | -100.0% |
| Other amounts payable | 47/48 | - | €272 | +€272 | |
| Accrued charges and deferred income | 492/3 | €10,842 | €21,684 | +€10,842 | +100.0% |
| Remuneration, social security and pensions | 62 | - | €1,167 | +€1,167 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,454 | €48,159 | -€7,295 | -13.2% |
| Other operating charges | 640/8 | €4,723 | €9,288 | +€4,565 | +96.6% |
| Non-recurring operating charges | 66A | €145 | €5,286 | +€5,140 | +3534.1% |
| Gross operating margin | 9900 | €413,105 | -€30,920 | -€444,025 | |
| Operating profit (loss) | 9901 | €352,782 | -€94,820 | -€447,602 | |
| Financial income | 75/76B | €407 | €96 | -€312 | -76.5% |
| Recurring financial income | 75 | €407 | €96 | -€312 | -76.5% |
| Financial charges | 65/66B | €4,824 | €2,777 | -€2,047 | -42.4% |
| Recurring financial charges | 65 | €4,824 | €2,777 | -€2,047 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | €348,366 | -€97,501 | -€445,867 | |
| Income taxes | 67/77 | €92,531 | €0 | -€92,531 | -100.0% |
| Profit (loss) for the period | 9904 | €255,835 | -€97,501 | -€353,336 | |
| Profit (loss) for the period to be appropriated | 9905 | €255,835 | -€97,501 | -€353,336 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.