POP - ART: 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.
POP - ART
Largest movements
- Tangible fixed assets -€1.0m
down €1.0m (-100%), from €1.0m to €0
of which Land and buildings: -€1.0m
- Cash +€878,283
up €878,283 (+16,154%), from €5,437 to €883,720
mainly Investment in fixed assets (net) (+€1.0m) and Net result for the year (+€384,501)
- Receivables within one year +€71,512
up €71,512 (+356%), from €20,060 to €91,572
- Debts after one year -€309,894
down €309,894 (-100%), from €309,894 to €0
- Profit (loss) carried forward +€254,013
up €254,013, from -€254,013 to €0
- Current portion of long-term debt -€108,743
down €108,743 (-100%), from €108,743 to €0
- Tax, wage and social debts +€64,239
new in 2025: €64,239
- Other debts +€52,143
up €52,143 (+41.6%), from €125,486 to €177,629
- Gross operating margin +€484,295
up €484,295, from -€20,451 to €463,843
- Taxes +€62,677
up €62,677 (+4,013%), from €1,562 to €64,239
- Depreciation -€36,950
down €36,950 (-100%), from €36,950 to €0
- Financial charges -€10,682
down €10,682 (-74.4%), from €14,359 to €3,677
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 | €1,068,069 | €975,292 | -€92,777 | -8.7% |
| Fixed assets | 21/28 | €1,041,864 | €0 | -€1.0m | -100% |
| Tangible fixed assets | 22/27 | €1,041,639 | €0 | -€1.0m | -100% |
| Land and buildings | 22 | €1,022,262 | €0 | -€1.0m | -100% |
| Plant, machinery and equipment | 23 | €12,863 | €0 | -€12,863 | -100% |
| Furniture and vehicles | 24 | €4,862 | €0 | -€4,862 | -100% |
| Other tangible fixed assets | 26 | €1,652 | €0 | -€1,652 | -100% |
| Financial fixed assets | 28 | €225 | €0 | -€225 | -100% |
| Current assets | 29/58 | €26,205 | €975,292 | +€949,087 | +3,622% |
| Amounts receivable within one year | 40/41 | €20,060 | €91,572 | +€71,512 | +356% |
| Other amounts receivable | 41 | €20,060 | €91,572 | +€71,512 | +356% |
| Cash at bank and in hand | 54/58 | €5,437 | €883,720 | +€878,283 | +16,154% |
| Deferred charges and accrued income | 490/1 | €708 | €0 | -€708 | -100% |
| Total equity and liabilities | 10/49 | €1,068,069 | €975,292 | -€92,777 | -8.7% |
| Equity | 10/15 | €523,924 | €733,425 | +€209,501 | +40.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €715,938 | €671,425 | -€44,513 | -6.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €709,738 | €665,225 | -€44,513 | -6.3% |
| Profit (loss) carried forward | 14 | -€254,013 | €0 | +€254,013 | |
| Amounts payable | 17/49 | €544,145 | €241,868 | -€302,277 | -55.6% |
| Amounts payable after more than one year | 17 | €309,894 | €0 | -€309,894 | -100% |
| Financial debts | 170/4 | €309,894 | €0 | -€309,894 | -100% |
| Amounts payable within one year | 42/48 | €234,251 | €241,868 | +€7,617 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €108,743 | €0 | -€108,743 | -100% |
| Trade debts | 44 | €22 | €0 | -€22 | -100% |
| Suppliers | 440/4 | €22 | €0 | -€22 | -100% |
| Taxes, remuneration and social security | 45 | - | €64,239 | +€64,239 | |
| Taxes | 450/3 | - | €64,239 | +€64,239 | |
| Other amounts payable | 47/48 | €125,486 | €177,629 | +€52,143 | +41.6% |
| Non-recurring operating income | 76A | - | €501,968 | +€501,968 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,950 | €0 | -€36,950 | -100% |
| Other operating charges | 640/8 | €3,936 | €785 | -€3,151 | -80.1% |
| Non-recurring operating charges | 66A | - | €10,931 | +€10,931 | |
| Gross operating margin | 9900 | -€20,451 | €463,843 | +€484,295 | |
| Operating profit (loss) | 9901 | -€61,337 | €452,127 | +€513,464 | |
| Financial income | 75/76B | €305 | €289 | -€16 | -5.3% |
| Recurring financial income | 75 | €305 | €289 | -€16 | -5.3% |
| Financial charges | 65/66B | €14,359 | €3,677 | -€10,682 | -74.4% |
| Recurring financial charges | 65 | €14,359 | €3,677 | -€10,682 | -74.4% |
| Profit (loss) for the period before taxes | 9903 | -€75,391 | €448,739 | +€524,130 | |
| Income taxes | 67/77 | €1,562 | €64,239 | +€62,677 | +4,013% |
| Profit (loss) for the period | 9904 | -€76,953 | €384,501 | +€461,454 | |
| Profit (loss) for the period to be appropriated | 9905 | -€76,953 | €384,501 | +€461,454 |
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 23 October 2026 via checked.be.