PONTOJ: 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.
PONTOJ
Largest movements
- Tangible fixed assets +€431,851
up €431,851 (+107.0%), from €403,774 to €835,625
of which Land and buildings: +€406,541
- Cash -€328,367
down €328,367 (-72.5%), from €452,615 to €124,248
mainly Investment in fixed assets (net) (-€448,511) and Debts after one year (-€64,560)
- Receivables within one year +€37,245
up €37,245 (+5.5%), from €671,919 to €709,164
of which Trade receivables: +€38,391
- Reserves +€212,562
up €212,562 (+18.4%), from €1.2m to €1.4m
of which Distributable reserves: +€212,562
- Debts after one year -€64,560
down €64,560 (-41.2%), from €156,656 to €92,095
- Gross operating margin -€89,926
down €89,926 (-23.0%), from €390,388 to €300,463
- Taxes -€32,734
down €32,734 (-25.8%), from €126,693 to €93,959
- Financial income +€9,603
up €9,603 (+52.3%), from €18,369 to €27,972
- Depreciation +€5,290
up €5,290 (+46.5%), from €11,371 to €16,660
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 | €1,551,336 | €1,697,665 | +€146,329 | +9.4% |
| Fixed assets | 21/28 | €406,774 | €838,625 | +€431,851 | +106.2% |
| Tangible fixed assets | 22/27 | €403,774 | €835,625 | +€431,851 | +107.0% |
| Land and buildings | 22 | €398,085 | €804,625 | +€406,541 | +102.1% |
| Plant, machinery and equipment | 23 | €2,553 | €5,931 | +€3,378 | +132.3% |
| Furniture and vehicles | 24 | €3,137 | €19,566 | +€16,429 | +523.8% |
| Other tangible fixed assets | 26 | - | €5,503 | +€5,503 | |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €1,144,561 | €859,040 | -€285,521 | -24.9% |
| Amounts receivable within one year | 40/41 | €671,919 | €709,164 | +€37,245 | +5.5% |
| Trade receivables | 40 | €412,102 | €450,493 | +€38,391 | +9.3% |
| Other amounts receivable | 41 | €259,817 | €258,671 | -€1,146 | -0.4% |
| Cash at bank and in hand | 54/58 | €452,615 | €124,248 | -€328,367 | -72.5% |
| Deferred charges and accrued income | 490/1 | €20,027 | €25,628 | +€5,601 | +28.0% |
| Total equity and liabilities | 10/49 | €1,551,336 | €1,697,665 | +€146,329 | +9.4% |
| Equity | 10/15 | €1,167,366 | €1,379,928 | +€212,562 | +18.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,154,966 | €1,367,528 | +€212,562 | +18.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €135 | €135 | = | 0.0% |
| Distributable reserves | 133 | €1,152,971 | €1,365,533 | +€212,562 | +18.4% |
| Provisions and deferred taxes | 16 | €45 | €45 | = | 0.0% |
| Deferred taxes | 168 | €45 | €45 | = | 0.0% |
| Amounts payable | 17/49 | €383,925 | €317,693 | -€66,233 | -17.3% |
| Amounts payable after more than one year | 17 | €156,656 | €92,095 | -€64,560 | -41.2% |
| Financial debts | 170/4 | €156,656 | €92,095 | -€64,560 | -41.2% |
| Amounts payable within one year | 42/48 | €221,947 | €220,795 | -€1,152 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €64,224 | €64,560 | +€337 | +0.5% |
| Trade debts | 44 | €4,723 | - | -€4,723 | |
| Suppliers | 440/4 | €4,723 | - | -€4,723 | |
| Taxes, remuneration and social security | 45 | €153,001 | €139,668 | -€13,332 | -8.7% |
| Taxes | 450/3 | €153,001 | €139,668 | -€13,332 | -8.7% |
| Other amounts payable | 47/48 | - | €16,566 | +€16,566 | |
| Accrued charges and deferred income | 492/3 | €5,322 | €4,802 | -€520 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,371 | €16,660 | +€5,290 | +46.5% |
| Other operating charges | 640/8 | €1,393 | €1,941 | +€548 | +39.4% |
| Gross operating margin | 9900 | €390,388 | €300,463 | -€89,926 | -23.0% |
| Operating profit (loss) | 9901 | €377,625 | €281,861 | -€95,764 | -25.4% |
| Financial income | 75/76B | €18,369 | €27,972 | +€9,603 | +52.3% |
| Recurring financial income | 75 | €18,369 | €27,972 | +€9,603 | +52.3% |
| Financial charges | 65/66B | €3,827 | €3,311 | -€515 | -13.5% |
| Recurring financial charges | 65 | €3,827 | €3,311 | -€515 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €392,167 | €306,521 | -€85,645 | -21.8% |
| Income taxes | 67/77 | €126,693 | €93,959 | -€32,734 | -25.8% |
| Profit (loss) for the period | 9904 | €265,473 | €212,562 | -€52,911 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €265,473 | €212,562 | -€52,911 | -19.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.