PONNET: 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.
PONNET
Largest movements
- Cash -€194,181
down €194,181 (-54.8%), from €354,125 to €159,944
mainly Trade debts (-€97,842) and Net result for the year (-€59,607)
- Tangible fixed assets -€66,652
down €66,652 (-61.0%), from €109,184 to €42,532
of which Other tangible fixed assets: -€34,606
- Receivables within one year +€56,792
up €56,792 (+150.1%), from €37,831 to €94,623
of which Trade receivables: +€42,044
- Stocks and contracts -€25,000
down €25,000 (-12.4%), from €202,069 to €177,069
- Financial fixed assets +€19,622
up €19,622 (+3.5%), from €555,627 to €575,249
- Trade debts -€97,842
down €97,842 (-49.5%), from €197,736 to €99,894
- Reserves -€59,607
down €59,607 (-19.9%), from €299,891 to €240,284
of which Distributable reserves: -€59,607
- Tax, wage and social debts -€45,926
down €45,926 (-21.7%), from €211,441 to €165,515
of which Remuneration and social security: -€31,098
- Debts after one year -€16,849
down €16,849 (-66.8%), from €25,230 to €8,381
- Gross operating margin -€88,128
down €88,128 (-7.6%), from €1.2m to €1.1m
- Staff costs -€48,632
down €48,632 (-4.4%), from €1.1m to €1.1m
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 | €1,292,088 | €1,083,269 | -€208,819 | -16.2% |
| Fixed assets | 21/28 | €664,811 | €617,781 | -€47,030 | -7.1% |
| Tangible fixed assets | 22/27 | €109,184 | €42,532 | -€66,652 | -61.0% |
| Plant, machinery and equipment | 23 | €65,066 | €34,620 | -€30,446 | -46.8% |
| Furniture and vehicles | 24 | €2,946 | €1,346 | -€1,600 | -54.3% |
| Other tangible fixed assets | 26 | €41,173 | €6,567 | -€34,606 | -84.0% |
| Financial fixed assets | 28 | €555,627 | €575,249 | +€19,622 | +3.5% |
| Current assets | 29/58 | €627,277 | €465,488 | -€161,789 | -25.8% |
| Stocks and contracts in progress | 3 | €202,069 | €177,069 | -€25,000 | -12.4% |
| Stocks | 30/36 | €202,069 | €177,069 | -€25,000 | -12.4% |
| Amounts receivable within one year | 40/41 | €37,831 | €94,623 | +€56,792 | +150.1% |
| Trade receivables | 40 | €32,456 | €74,500 | +€42,044 | +129.5% |
| Other amounts receivable | 41 | €5,375 | €20,124 | +€14,748 | +274.4% |
| Cash at bank and in hand | 54/58 | €354,125 | €159,944 | -€194,181 | -54.8% |
| Deferred charges and accrued income | 490/1 | €33,251 | €33,851 | +€600 | +1.8% |
| Total equity and liabilities | 10/49 | €1,292,088 | €1,083,269 | -€208,819 | -16.2% |
| Equity | 10/15 | €819,913 | €760,306 | -€59,607 | -7.3% |
| Contributions | 10/11 | €520,021 | €520,021 | = | 0.0% |
| Capital | 10 | €520,021 | €520,021 | = | 0.0% |
| Issued capital | 100 | €520,021 | €520,021 | = | 0.0% |
| Reserves | 13 | €299,891 | €240,284 | -€59,607 | -19.9% |
| Non-distributable reserves | 130/1 | €52,002 | €52,002 | = | 0.0% |
| Legal reserve | 130 | €52,002 | €52,002 | = | 0.0% |
| Distributable reserves | 133 | €247,889 | €188,282 | -€59,607 | -24.0% |
| Amounts payable | 17/49 | €472,176 | €322,964 | -€149,212 | -31.6% |
| Amounts payable after more than one year | 17 | €25,230 | €8,381 | -€16,849 | -66.8% |
| Financial debts | 170/4 | €25,230 | €8,381 | -€16,849 | -66.8% |
| Amounts payable within one year | 42/48 | €446,946 | €310,830 | -€136,115 | -30.5% |
| Current portion of amounts payable after more than one year | 42 | €37,236 | €40,654 | +€3,418 | +9.2% |
| Trade debts | 44 | €197,736 | €99,894 | -€97,842 | -49.5% |
| Suppliers | 440/4 | €197,736 | €99,894 | -€97,842 | -49.5% |
| Taxes, remuneration and social security | 45 | €211,441 | €165,515 | -€45,926 | -21.7% |
| Taxes | 450/3 | €19,125 | €4,296 | -€14,828 | -77.5% |
| Remuneration and social security | 454/9 | €192,316 | €161,218 | -€31,098 | -16.2% |
| Other amounts payable | 47/48 | €532 | €4,768 | +€4,236 | +796.1% |
| Accrued charges and deferred income | 492/3 | €0 | €3,752 | +€3,752 | |
| Non-recurring operating income | 76A | €3,500 | €25,000 | +€21,500 | +614.3% |
| Remuneration, social security and pensions | 62 | €1,117,759 | €1,069,127 | -€48,632 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,306 | €70,133 | -€4,172 | -5.6% |
| Other operating charges | 640/8 | €4,739 | €5,724 | +€985 | +20.8% |
| Gross operating margin | 9900 | €1,159,289 | €1,071,162 | -€88,128 | -7.6% |
| Operating profit (loss) | 9901 | -€37,514 | -€73,823 | -€36,308 | -96.8% |
| Financial income | 75/76B | €19,458 | €19,908 | +€450 | +2.3% |
| Recurring financial income | 75 | €19,458 | €19,908 | +€450 | +2.3% |
| Financial charges | 65/66B | €8,750 | €5,692 | -€3,058 | -34.9% |
| Recurring financial charges | 65 | €8,750 | €5,692 | -€3,058 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | -€26,807 | -€59,607 | -€32,800 | -122.4% |
| Income taxes | 67/77 | €82 | €0 | -€82 | -100.0% |
| Profit (loss) for the period | 9904 | -€26,889 | -€59,607 | -€32,718 | -121.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,889 | -€59,607 | -€32,718 | -121.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.