PONIC: 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.
PONIC
Largest movements
- Tangible fixed assets -€207,781
down €207,781 (-8.0%), from €2.6m to €2.4m
of which Land and buildings: -€205,246
- Cash +€67,785
up €67,785 (+476.5%), from €14,225 to €82,010
mainly Depreciation (+€173,351) and Investment in fixed assets (net) (+€34,430)
- Reserves -€117,004
down €117,004 (-36.7%), from €319,062 to €202,058
of which Distributable reserves: -€92,716
- Gross operating margin +€19,086
up €19,086 (+79.0%), from €24,162 to €43,248
- Depreciation -€3,921
down €3,921 (-2.2%), from €177,272 to €173,351
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 | €2,605,813 | €2,471,830 | -€133,982 | -5.1% |
| Fixed assets | 21/28 | €2,582,948 | €2,375,167 | -€207,781 | -8.0% |
| Tangible fixed assets | 22/27 | €2,582,948 | €2,375,167 | -€207,781 | -8.0% |
| Land and buildings | 22 | €2,551,360 | €2,346,114 | -€205,246 | -8.0% |
| Plant, machinery and equipment | 23 | €3,554 | €2,127 | -€1,427 | -40.2% |
| Furniture and vehicles | 24 | €28,034 | €26,927 | -€1,107 | -4.0% |
| Current assets | 29/58 | €22,864 | €96,663 | +€73,799 | +322.8% |
| Amounts receivable within one year | 40/41 | €2,413 | €8,073 | +€5,660 | +234.6% |
| Trade receivables | 40 | - | €7,536 | +€7,536 | |
| Other amounts receivable | 41 | €2,413 | €537 | -€1,875 | -77.7% |
| Cash at bank and in hand | 54/58 | €14,225 | €82,010 | +€67,785 | +476.5% |
| Deferred charges and accrued income | 490/1 | €6,226 | €6,580 | +€353 | +5.7% |
| Total equity and liabilities | 10/49 | €2,605,813 | €2,471,830 | -€133,982 | -5.1% |
| Equity | 10/15 | €381,062 | €239,668 | -€141,394 | -37.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €319,062 | €202,058 | -€117,004 | -36.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €220,146 | €195,858 | -€24,288 | -11.0% |
| Distributable reserves | 133 | €92,716 | €0 | -€92,716 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€24,390 | -€24,390 | |
| Amounts payable | 17/49 | €2,224,751 | €2,232,163 | +€7,412 | +0.3% |
| Amounts payable after more than one year | 17 | €2,213,000 | €2,213,000 | = | 0.0% |
| Other amounts payable | 178/9 | €2,213,000 | €2,213,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,751 | €19,163 | +€7,412 | +63.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €11,751 | €16,478 | +€4,727 | +40.2% |
| Suppliers | 440/4 | €11,751 | €16,478 | +€4,727 | +40.2% |
| Advances received on contracts in progress | 46 | - | €2,500 | +€2,500 | |
| Taxes, remuneration and social security | 45 | - | €185 | +€185 | |
| Taxes | 450/3 | - | €185 | +€185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177,272 | €173,351 | -€3,921 | -2.2% |
| Other operating charges | 640/8 | €9,642 | €10,043 | +€401 | +4.2% |
| Non-recurring operating charges | 66A | - | €798 | +€798 | |
| Gross operating margin | 9900 | €24,162 | €43,248 | +€19,086 | +79.0% |
| Operating profit (loss) | 9901 | -€162,752 | -€140,944 | +€21,808 | +13.4% |
| Financial income | 75/76B | €104 | €0 | -€104 | -100.0% |
| Recurring financial income | 75 | €104 | €0 | -€104 | -100.0% |
| Financial charges | 65/66B | €781 | €451 | -€331 | -42.4% |
| Recurring financial charges | 65 | €781 | €451 | -€331 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | -€163,430 | -€141,394 | +€22,035 | +13.5% |
| Profit (loss) for the period | 9904 | -€163,430 | -€141,394 | +€22,035 | +13.5% |
| Transfer from tax-exempt reserves | 789 | €23,278 | €24,288 | +€1,010 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€140,152 | -€117,106 | +€23,045 | +16.4% |
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 1 October 2026 via checked.be.