POND'OR: 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.
What changed
POND'OR
NACE 46.331, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€365,796
2024 · €274,932+€90,864
Equity
€1.7m
2024 · €1.3m+€347,204
Cash
€550,409
2024 · €268,256+€282,154
Balance sheet total
€5.1m
2024 · €4.1m+€1.1m
Largest movements
Assets
- Stocks and contracts +€750,000
up €750,000 (+179%), from €420,000 to €1.2m
- Receivables after one year +€500,000
new in 2025: €500,000
- Cash +€282,154
up €282,154 (+105%), from €268,256 to €550,409
mainly Trade debts (+€1.2m) and Net result for the year (+€365,796)
- Receivables within one year -€276,599
down €276,599 (-23.2%), from €1.2m to €917,159
of which Other amounts receivable: -€522,590
- Tangible fixed assets -€160,208
down €160,208 (-7.5%), from €2.1m to €2.0m
Equity and liabilities
- Trade debts +€1.2m
up €1.2m (+104%), from €1.1m to €2.3m
- Reserves +€365,796
up €365,796 (+31.0%), from €1.2m to €1.5m
of which Tax-exempt reserves: +€252,600
- Short-term financial debts -€250,000
down €250,000 (-66.7%), from €375,000 to €125,000
- Debts after one year -€181,319
down €181,319 (-17.3%), from €1.0m to €864,799
Income statement
- Gross operating margin +€352,961
up €352,961 (+38.0%), from €928,038 to €1.3m
- Write-downs +€150,826
new in 2025: €150,826
- Taxes +€105,398
up €105,398 (+119%), from €88,821 to €194,218
- Staff costs +€27,513
up €27,513 (+10.7%), from €256,443 to €283,956
- Depreciation -€18,770
down €18,770 (-9.2%), from €203,435 to €184,666
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.
Result 2024
€274,932
Gross operating margin
+€352,961
Staff costs
-€27,513
Depreciation
+€18,770
Write-downs
-€150,826
Other operating charges
+€5,969
Financial income
-€723
Financial charges
-€2,376
Taxes
-€105,398
Result 2025
€365,796
raises the resultlowers the result
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.
From operations
+€750,300
Investment
-€24,457
Financing
-€443,689
Cash 2024
€268,256
From operations (derived)
+€750,300
Net result for the year
+€365,796
Depreciation
+€184,666
Receivables after one year
-€500,000
Stocks and contracts
-€750,000
Receivables within one year
+€276,599
Deferred charges and accrued income
+€30,422
Trade debts
+€1.2m
Tax, wage and social debts
-€14,816
Other debts
+€3,153
Accrued charges and deferred income
-€2,122
Investment (derived)
-€24,457
Investment in fixed assets (net)
-€24,457
Financing
-€443,689
Debts after one year
-€181,319
Current portion of long-term debt
+€6,222
Short-term financial debts
-€250,000
Contributions, distributions and other
-€18,592
Cash 2025
€550,409
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,075,930 | €5,140,855 | +€1.1m | +26.1% |
| Fixed assets | 21/28 | €2,122,647 | €1,962,438 | -€160,208 | -7.5% |
| Tangible fixed assets | 22/27 | €2,122,019 | €1,961,811 | -€160,208 | -7.5% |
| Land and buildings | 22 | €1,265,951 | €1,188,745 | -€77,206 | -6.1% |
| Plant, machinery and equipment | 23 | €251,974 | €217,961 | -€34,012 | -13.5% |
| Furniture and vehicles | 24 | €54,556 | €36,998 | -€17,558 | -32.2% |
| Leasing and similar rights | 25 | €215,306 | €191,365 | -€23,940 | -11.1% |
| Other tangible fixed assets | 26 | €334,233 | €326,742 | -€7,491 | -2.2% |
| Financial fixed assets | 28 | €627 | €627 | = | 0.0% |
| Current assets | 29/58 | €1,953,284 | €3,178,416 | +€1.2m | +62.7% |
| Amounts receivable after more than one year | 29 | - | €500,000 | +€500,000 | |
| Other amounts receivable | 291 | - | €500,000 | +€500,000 | |
| Stocks and contracts in progress | 3 | €420,000 | €1,170,000 | +€750,000 | +179% |
| Stocks | 30/36 | €420,000 | €1,170,000 | +€750,000 | +179% |
| Amounts receivable within one year | 40/41 | €1,193,758 | €917,159 | -€276,599 | -23.2% |
| Trade receivables | 40 | €618,826 | €864,817 | +€245,991 | +39.8% |
| Other amounts receivable | 41 | €574,932 | €52,342 | -€522,590 | -90.9% |
| Cash at bank and in hand | 54/58 | €268,256 | €550,409 | +€282,154 | +105% |
| Deferred charges and accrued income | 490/1 | €71,270 | €40,848 | -€30,422 | -42.7% |
| Total equity and liabilities | 10/49 | €4,075,930 | €5,140,855 | +€1.1m | +26.1% |
| Equity | 10/15 | €1,328,100 | €1,675,303 | +€347,204 | +26.1% |
| Contributions | 10/11 | €37,192 | €18,600 | -€18,592 | -50.0% |
| Revaluation surpluses | 12 | €109,350 | €109,350 | = | 0.0% |
| Reserves | 13 | €1,181,557 | €1,547,353 | +€365,796 | +31.0% |
| Non-distributable reserves | 130/1 | €3,719 | €0 | -€3,719 | -100% |
| Reserves not available under the articles | 1311 | €3,719 | €0 | -€3,719 | -100% |
| Tax-exempt reserves | 132 | - | €252,600 | +€252,600 | |
| Distributable reserves | 133 | €1,177,838 | €1,294,753 | +€116,915 | +9.9% |
| Amounts payable | 17/49 | €2,747,831 | €3,465,552 | +€717,721 | +26.1% |
| Amounts payable after more than one year | 17 | €1,046,119 | €864,799 | -€181,319 | -17.3% |
| Financial debts | 170/4 | €1,046,119 | €864,799 | -€181,319 | -17.3% |
| Amounts payable within one year | 42/48 | €1,699,590 | €2,600,752 | +€901,162 | +53.0% |
| Current portion of amounts payable after more than one year | 42 | €175,097 | €181,319 | +€6,222 | +3.6% |
| Financial debts | 43 | €375,000 | €125,000 | -€250,000 | -66.7% |
| Credit institutions | 430/8 | €375,000 | €125,000 | -€250,000 | -66.7% |
| Trade debts | 44 | €1,113,273 | €2,269,876 | +€1.2m | +104% |
| Suppliers | 440/4 | €1,113,273 | €2,269,876 | +€1.2m | +104% |
| Taxes, remuneration and social security | 45 | €31,594 | €16,778 | -€14,816 | -46.9% |
| Taxes | 450/3 | €0 | €2,219 | +€2,219 | |
| Remuneration and social security | 454/9 | €31,594 | €14,559 | -€17,035 | -53.9% |
| Other amounts payable | 47/48 | €4,626 | €7,779 | +€3,153 | +68.2% |
| Accrued charges and deferred income | 492/3 | €2,122 | €0 | -€2,122 | -100% |
| Remuneration, social security and pensions | 62 | €256,443 | €283,956 | +€27,513 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €203,435 | €184,666 | -€18,770 | -9.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €150,826 | +€150,826 | |
| Other operating charges | 640/8 | €19,184 | €13,214 | -€5,969 | -31.1% |
| Gross operating margin | 9900 | €928,038 | €1,280,999 | +€352,961 | +38.0% |
| Operating profit (loss) | 9901 | €448,976 | €648,337 | +€199,361 | +44.4% |
| Financial income | 75/76B | €33,233 | €32,510 | -€723 | -2.2% |
| Recurring financial income | 75 | €33,233 | €32,510 | -€723 | -2.2% |
| Financial charges | 65/66B | €118,457 | €120,833 | +€2,376 | +2.0% |
| Recurring financial charges | 65 | €118,457 | €120,833 | +€2,376 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €363,753 | €560,014 | +€196,262 | +54.0% |
| Income taxes | 67/77 | €88,821 | €194,218 | +€105,398 | +119% |
| Profit (loss) for the period | 9904 | €274,932 | €365,796 | +€90,864 | +33.0% |
| Transfer to tax-exempt reserves | 689 | - | €252,600 | +€252,600 | |
| Profit (loss) for the period to be appropriated | 9905 | €274,932 | €113,196 | -€161,736 | -58.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.