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
- Cash +€29,181
up €29,181 (+332%), from €8,803 to €37,983
mainly Depreciation (+€17,061) and Debts after one year (+€16,518)
- Stocks and contracts +€28,484
up €28,484 (+108%), from €26,305 to €54,789
- Tangible fixed assets -€15,115
down €15,115 (-7.0%), from €215,990 to €200,875
of which Furniture and vehicles: -€12,743
- Receivables within one year -€8,640
down €8,640 (-27.0%), from €31,992 to €23,352
of which Trade receivables: -€6,493
- Debts after one year +€16,518
up €16,518 (+80.1%), from €20,617 to €37,135
- Current portion of long-term debt +€5,379
up €5,379 (+44.7%), from €12,036 to €17,416
- Trade debts +€4,737
up €4,737 (+11.2%), from €42,371 to €47,108
- Tax, wage and social debts +€3,613
up €3,613 (+25.8%), from €14,008 to €17,621
- Gross operating margin +€3,555
up €3,555 (+15.0%), from €23,747 to €27,303
- Financial charges +€1,240
up €1,240 (+47.3%), from €2,620 to €3,860
- Depreciation +€745
up €745 (+4.6%), from €16,316 to €17,061
- Other operating charges +€456
up €456 (+25.2%), from €1,808 to €2,264
- Financial income -€383
down €383 (-42.0%), from €912 to €529
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 | €285,875 | €320,974 | +€35,099 | +12.3% |
| Fixed assets | 21/28 | €215,990 | €200,875 | -€15,115 | -7.0% |
| Tangible fixed assets | 22/27 | €215,990 | €200,875 | -€15,115 | -7.0% |
| Land and buildings | 22 | €156,000 | €156,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,491 | €3,442 | -€2,050 | -37.3% |
| Furniture and vehicles | 24 | €52,183 | €39,440 | -€12,743 | -24.4% |
| Other tangible fixed assets | 26 | €2,315 | €1,993 | -€322 | -13.9% |
| Current assets | 29/58 | €69,885 | €120,099 | +€50,214 | +71.9% |
| Stocks and contracts in progress | 3 | €26,305 | €54,789 | +€28,484 | +108% |
| Stocks | 30/36 | €26,305 | €54,789 | +€28,484 | +108% |
| Amounts receivable within one year | 40/41 | €31,992 | €23,352 | -€8,640 | -27.0% |
| Trade receivables | 40 | €22,625 | €16,132 | -€6,493 | -28.7% |
| Other amounts receivable | 41 | €9,367 | €7,220 | -€2,147 | -22.9% |
| Cash at bank and in hand | 54/58 | €8,803 | €37,983 | +€29,181 | +332% |
| Deferred charges and accrued income | 490/1 | €2,786 | €3,975 | +€1,190 | +42.7% |
| Total equity and liabilities | 10/49 | €285,875 | €320,974 | +€35,099 | +12.3% |
| Equity | 10/15 | €186,650 | €188,542 | +€1,892 | +1.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €49,695 | €51,587 | +€1,892 | +3.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €47,835 | €49,727 | +€1,892 | +4.0% |
| Profit (loss) carried forward | 14 | €130,755 | €130,755 | = | 0.0% |
| Amounts payable | 17/49 | €99,225 | €132,433 | +€33,208 | +33.5% |
| Amounts payable after more than one year | 17 | €20,617 | €37,135 | +€16,518 | +80.1% |
| Financial debts | 170/4 | €20,617 | €37,135 | +€16,518 | +80.1% |
| Amounts payable within one year | 42/48 | €78,608 | €95,297 | +€16,689 | +21.2% |
| Current portion of amounts payable after more than one year | 42 | €12,036 | €17,416 | +€5,379 | +44.7% |
| Financial debts | 43 | €91 | €50 | -€41 | -44.9% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €91 | €50 | -€41 | -44.9% |
| Trade debts | 44 | €42,371 | €47,108 | +€4,737 | +11.2% |
| Suppliers | 440/4 | €42,371 | €47,108 | +€4,737 | +11.2% |
| Taxes, remuneration and social security | 45 | €14,008 | €17,621 | +€3,613 | +25.8% |
| Taxes | 450/3 | €14,008 | €17,621 | +€3,613 | +25.8% |
| Other amounts payable | 47/48 | €10,102 | €13,103 | +€3,000 | +29.7% |
| Non-recurring operating income | 76A | €1,925 | €0 | -€1,925 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,316 | €17,061 | +€745 | +4.6% |
| Other operating charges | 640/8 | €1,808 | €2,264 | +€456 | +25.2% |
| Gross operating margin | 9900 | €23,747 | €27,303 | +€3,555 | +15.0% |
| Operating profit (loss) | 9901 | €5,622 | €7,977 | +€2,354 | +41.9% |
| Financial income | 75/76B | €912 | €529 | -€383 | -42.0% |
| Recurring financial income | 75 | €912 | €529 | -€383 | -42.0% |
| Financial charges | 65/66B | €2,620 | €3,860 | +€1,240 | +47.3% |
| Recurring financial charges | 65 | €2,620 | €3,860 | +€1,240 | +47.3% |
| Profit (loss) for the period before taxes | 9903 | €3,915 | €4,646 | +€731 | +18.7% |
| Income taxes | 67/77 | €2,999 | €2,754 | -€245 | -8.2% |
| Profit (loss) for the period | 9904 | €916 | €1,892 | +€976 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €916 | €1,892 | +€976 | +107% |
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 16 October 2026 via checked.be.