Ponjaert Raf: 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.
Ponjaert Raf
Largest movements
- Cash +€89,895
up €89,895 (+53.9%), from €166,904 to €256,799
mainly Net result for the year (+€67,047) and Tax, wage and social debts (+€13,030)
- Tangible fixed assets -€7,275
down €7,275 (-19.1%), from €38,097 to €30,823
of which Furniture and vehicles: -€7,035
- Receivables within one year -€4,142
down €4,142 (-9.0%), from €46,229 to €42,088
of which Other amounts receivable: -€4,205
- Reserves +€66,214
up €66,214 (+28.5%), from €232,068 to €298,282
- Tax, wage and social debts +€13,030
up €13,030 (+203%), from €6,430 to €19,460
of which Remuneration and social security: +€7,383
- Gross operating margin +€5,026
up €5,026 (+2.3%), from €221,400 to €226,425
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 | €257,435 | €335,648 | +€78,213 | +30.4% |
| Fixed assets | 21/28 | €38,097 | €30,823 | -€7,275 | -19.1% |
| Tangible fixed assets | 22/27 | €38,097 | €30,823 | -€7,275 | -19.1% |
| Plant, machinery and equipment | 23 | €3,527 | €4,187 | +€659 | +18.7% |
| Furniture and vehicles | 24 | €26,945 | €19,910 | -€7,035 | -26.1% |
| Other tangible fixed assets | 26 | €7,625 | €6,726 | -€899 | -11.8% |
| Current assets | 29/58 | €219,338 | €304,825 | +€85,488 | +39.0% |
| Amounts receivable within one year | 40/41 | €46,229 | €42,088 | -€4,142 | -9.0% |
| Trade receivables | 40 | €6,553 | €6,616 | +€63 | +1.0% |
| Other amounts receivable | 41 | €39,676 | €35,472 | -€4,205 | -10.6% |
| Cash at bank and in hand | 54/58 | €166,904 | €256,799 | +€89,895 | +53.9% |
| Deferred charges and accrued income | 490/1 | €6,204 | €5,939 | -€265 | -4.3% |
| Total equity and liabilities | 10/49 | €257,435 | €335,648 | +€78,213 | +30.4% |
| Equity | 10/15 | €234,068 | €300,282 | +€66,214 | +28.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €232,068 | €298,282 | +€66,214 | +28.5% |
| Distributable reserves | 133 | €232,068 | €298,282 | +€66,214 | +28.5% |
| Amounts payable | 17/49 | €23,367 | €35,366 | +€11,999 | +51.4% |
| Amounts payable within one year | 42/48 | €23,367 | €35,366 | +€11,999 | +51.4% |
| Trade debts | 44 | €16,138 | €15,074 | -€1,064 | -6.6% |
| Suppliers | 440/4 | €16,138 | €15,074 | -€1,064 | -6.6% |
| Taxes, remuneration and social security | 45 | €6,430 | €19,460 | +€13,030 | +203% |
| Taxes | 450/3 | €3,026 | €8,673 | +€5,647 | +187% |
| Remuneration and social security | 454/9 | €3,404 | €10,787 | +€7,383 | +217% |
| Other amounts payable | 47/48 | €800 | €833 | +€33 | +4.1% |
| Remuneration, social security and pensions | 62 | €116,356 | €114,605 | -€1,752 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,184 | €9,804 | +€620 | +6.7% |
| Other operating charges | 640/8 | €3,866 | €3,405 | -€462 | -11.9% |
| Gross operating margin | 9900 | €221,400 | €226,425 | +€5,026 | +2.3% |
| Operating profit (loss) | 9901 | €91,993 | €98,612 | +€6,619 | +7.2% |
| Financial income | 75/76B | €3,418 | €2,044 | -€1,374 | -40.2% |
| Recurring financial income | 75 | €3,418 | €2,044 | -€1,374 | -40.2% |
| Financial charges | 65/66B | €257 | €462 | +€205 | +79.9% |
| Recurring financial charges | 65 | €257 | €462 | +€205 | +79.9% |
| Profit (loss) for the period before taxes | 9903 | €95,155 | €100,194 | +€5,039 | +5.3% |
| Income taxes | 67/77 | €31,188 | €33,147 | +€1,959 | +6.3% |
| Profit (loss) for the period | 9904 | €63,966 | €67,047 | +€3,081 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €63,966 | €67,047 | +€3,081 | +4.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.