PONSAERTS: 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.
PONSAERTS
Largest movements
- Cash +€48,738
up €48,738 (+12.8%), from €380,281 to €429,019
mainly Depreciation (+€47,794) and Net result for the year (+€45,083)
- Tangible fixed assets -€40,216
down €40,216 (-10.8%), from €373,525 to €333,309
- Receivables within one year +€26,299
up €26,299 (+7.7%), from €340,099 to €366,398
of which Trade receivables: +€26,721
- Trade debts +€42,931
up €42,931 (+46.3%), from €92,814 to €135,744
- Debts after one year -€16,938
down €16,938 (-92.2%), from €18,380 to €1,443
- Staff costs +€44,796
up €44,796 (+11.6%), from €386,090 to €430,886
- Taxes -€17,588
down €17,588 (-45.6%), from €38,541 to €20,953
- Financial income -€15,273
down €15,273 (-78.9%), from €19,359 to €4,086
of which Non-recurring financial income: -€16,000
- Write-downs -€12,464
down €12,464 (-79.9%), from €15,600 to €3,136
- Gross operating margin -€8,881
down €8,881 (-1.5%), from €587,024 to €578,143
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 | €1,180,744 | €1,217,487 | +€36,744 | +3.1% |
| Fixed assets | 21/28 | €373,525 | €333,309 | -€40,216 | -10.8% |
| Tangible fixed assets | 22/27 | €373,525 | €333,309 | -€40,216 | -10.8% |
| Land and buildings | 22 | €266,441 | €251,707 | -€14,735 | -5.5% |
| Plant, machinery and equipment | 23 | €41,948 | €31,099 | -€10,849 | -25.9% |
| Furniture and vehicles | 24 | €65,135 | €50,503 | -€14,632 | -22.5% |
| Current assets | 29/58 | €807,219 | €884,179 | +€76,960 | +9.5% |
| Stocks and contracts in progress | 3 | €30,846 | €31,816 | +€970 | +3.1% |
| Stocks | 30/36 | €30,846 | €31,816 | +€970 | +3.1% |
| Amounts receivable within one year | 40/41 | €340,099 | €366,398 | +€26,299 | +7.7% |
| Trade receivables | 40 | €308,720 | €335,442 | +€26,721 | +8.7% |
| Other amounts receivable | 41 | €31,378 | €30,956 | -€422 | -1.3% |
| Current investments | 50/53 | €41,118 | €41,633 | +€515 | +1.3% |
| Cash at bank and in hand | 54/58 | €380,281 | €429,019 | +€48,738 | +12.8% |
| Deferred charges and accrued income | 490/1 | €14,875 | €15,313 | +€437 | +2.9% |
| Total equity and liabilities | 10/49 | €1,180,744 | €1,217,487 | +€36,744 | +3.1% |
| Equity | 10/15 | €915,732 | €919,044 | +€3,312 | +0.4% |
| Contributions | 10/11 | €511,747 | €511,747 | = | 0.0% |
| Capital | 10 | €511,747 | €511,747 | = | 0.0% |
| Issued capital | 100 | €511,747 | €511,747 | = | 0.0% |
| Reserves | 13 | €403,985 | €407,297 | +€3,312 | +0.8% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,758 | €8,370 | -€3,389 | -28.8% |
| Distributable reserves | 133 | €384,790 | €391,490 | +€6,700 | +1.7% |
| Provisions and deferred taxes | 16 | €6,055 | €4,310 | -€1,745 | -28.8% |
| Deferred taxes | 168 | €6,055 | €4,310 | -€1,745 | -28.8% |
| Amounts payable | 17/49 | €258,956 | €294,133 | +€35,177 | +13.6% |
| Amounts payable after more than one year | 17 | €18,380 | €1,443 | -€16,938 | -92.2% |
| Financial debts | 170/4 | €18,380 | €1,443 | -€16,938 | -92.2% |
| Amounts payable within one year | 42/48 | €237,892 | €289,650 | +€51,758 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | €16,261 | €16,938 | +€677 | +4.2% |
| Trade debts | 44 | €92,814 | €135,744 | +€42,931 | +46.3% |
| Suppliers | 440/4 | €92,814 | €135,744 | +€42,931 | +46.3% |
| Taxes, remuneration and social security | 45 | €29,224 | €33,005 | +€3,782 | +12.9% |
| Taxes | 450/3 | €12,556 | €16,152 | +€3,596 | +28.6% |
| Remuneration and social security | 454/9 | €16,668 | €16,854 | +€186 | +1.1% |
| Other amounts payable | 47/48 | €99,594 | €103,963 | +€4,369 | +4.4% |
| Accrued charges and deferred income | 492/3 | €2,684 | €3,040 | +€356 | +13.3% |
| Remuneration, social security and pensions | 62 | €386,090 | €430,886 | +€44,796 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,306 | €47,794 | +€2,488 | +5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,600 | €3,136 | -€12,464 | -79.9% |
| Other operating charges | 640/8 | €19,630 | €27,510 | +€7,880 | +40.1% |
| Gross operating margin | 9900 | €587,024 | €578,143 | -€8,881 | -1.5% |
| Operating profit (loss) | 9901 | €120,398 | €68,818 | -€51,581 | -42.8% |
| Financial income | 75/76B | €19,359 | €4,086 | -€15,273 | -78.9% |
| Recurring financial income | 75 | €3,359 | €4,086 | +€727 | +21.7% |
| Non-recurring financial income | 76B | €16,000 | - | -€16,000 | |
| Financial charges | 65/66B | €12,993 | €8,612 | -€4,381 | -33.7% |
| Recurring financial charges | 65 | €12,993 | €8,612 | -€4,381 | -33.7% |
| Profit (loss) for the period before taxes | 9903 | €126,764 | €64,292 | -€62,472 | -49.3% |
| Transfer from deferred taxes | 780 | €1,745 | €1,745 | = | 0.0% |
| Income taxes | 67/77 | €38,541 | €20,953 | -€17,588 | -45.6% |
| Profit (loss) for the period | 9904 | €89,968 | €45,083 | -€44,884 | -49.9% |
| Transfer from tax-exempt reserves | 789 | €3,389 | €3,389 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €93,356 | €48,472 | -€44,884 | -48.1% |
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.