POPAY CORPORATE: what changed
What changed
POPAY CORPORATE
NACE 82.100, Office administrative and support services
filed annual accounts (NBB)
Net result for the year
-€529,489
2024 · -€358,091-€171,398
Equity
-€751,339
2024 · -€221,850-€529,489
Cash
€26,645
2024 · €47,897-€21,252
Balance sheet total
€3.6m
2024 · €2.8m+€854,567
Largest movements
Assets
- Receivables within one year +€520,290
up €520,290 (+50.0%), from €1.0m to €1.6m
of which Trade receivables: +€502,710
- Intangible fixed assets +€354,924
up €354,924 (+31.7%), from €1.1m to €1.5m
Equity and liabilities
- Trade debts +€882,800
up €882,800 (+36.8%), from €2.4m to €3.3m
- Profit (loss) carried forward -€529,489
down €529,489 (-75.6%), from -€700,247 to -€1.2m
- Debts after one year +€416,150
up €416,150 (+86.3%), from €482,000 to €898,150
of which Financial debts: +€297,150
- Advances received +€102,850
new in 2025: €102,850
- Current portion of long-term debt -€40,497
down €40,497 (-100%), from €40,497 to €0
Income statement
- Depreciation +€96,906
up €96,906 (+44.9%), from €215,706 to €312,612
- Gross operating margin -€54,518
down €54,518 (-78.5%), from -€69,441 to -€123,959
- Financial charges +€19,717
up €19,717 (+78.0%), from €25,288 to €45,005
- Financial income +€6,452
up €6,452 (+42,277%), from €15 to €6,467
- Taxes +€5,528
new in 2025: €5,528
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€358,091
Gross operating margin
-€54,518
Staff costs
-€1,391
Depreciation
-€96,906
Other operating charges
+€210
Financial income
+€6,452
Financial charges
-€19,717
Taxes
-€5,528
Result 2025
-€529,489
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€270,631
Investment
-€667,536
Financing
+€375,653
Cash 2024
€47,897
From operations (derived)
+€270,631
Net result for the year
-€529,489
Depreciation
+€312,612
Receivables within one year
-€520,290
Deferred charges and accrued income
-€606
Trade debts
+€882,800
Tax, wage and social debts
+€5,810
Advances received
+€102,850
Other debts
-€17,871
Accrued charges and deferred income
+€34,814
Investment (derived)
-€667,536
Investment in fixed assets (net)
-€667,536
Financing
+€375,653
Debts after one year
+€416,150
Current portion of long-term debt
-€40,497
Cash 2025
€26,645
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,774,908 | €3,629,476 | +€854,567 | +30.8% |
| Fixed assets | 21/28 | €1,181,739 | €1,536,663 | +€354,924 | +30.0% |
| Intangible fixed assets | 21 | €1,121,233 | €1,476,157 | +€354,924 | +31.7% |
| Financial fixed assets | 28 | €60,507 | €60,507 | = | 0.0% |
| Current assets | 29/58 | €1,593,169 | €2,092,813 | +€499,643 | +31.4% |
| Amounts receivable after more than one year | 29 | €283,314 | €283,314 | = | 0.0% |
| Other amounts receivable | 291 | €283,314 | €283,314 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,040,156 | €1,560,446 | +€520,290 | +50.0% |
| Trade receivables | 40 | €1,010,867 | €1,513,577 | +€502,710 | +49.7% |
| Other amounts receivable | 41 | €29,289 | €46,868 | +€17,580 | +60.0% |
| Current investments | 50/53 | €210,000 | €210,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €47,897 | €26,645 | -€21,252 | -44.4% |
| Deferred charges and accrued income | 490/1 | €11,801 | €12,408 | +€606 | +5.1% |
| Total equity and liabilities | 10/49 | €2,774,908 | €3,629,476 | +€854,567 | +30.8% |
| Equity | 10/15 | -€221,850 | -€751,339 | -€529,489 | -239% |
| Contributions | 10/11 | €91,000 | €91,000 | = | 0.0% |
| Reserves | 13 | €387,397 | €387,397 | = | 0.0% |
| Non-distributable reserves | 130/1 | €210,000 | €210,000 | = | 0.0% |
| Own shares acquired | 1312 | €210,000 | €210,000 | = | 0.0% |
| Distributable reserves | 133 | €177,397 | €177,397 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€700,247 | -€1,229,736 | -€529,489 | -75.6% |
| Amounts payable | 17/49 | €2,996,758 | €4,380,814 | +€1.4m | +46.2% |
| Amounts payable after more than one year | 17 | €482,000 | €898,150 | +€416,150 | +86.3% |
| Financial debts | 170/4 | €482,000 | €779,150 | +€297,150 | +61.6% |
| Other amounts payable | 178/9 | - | €119,000 | +€119,000 | |
| Amounts payable within one year | 42/48 | €2,481,975 | €3,415,067 | +€933,092 | +37.6% |
| Current portion of amounts payable after more than one year | 42 | €40,497 | €0 | -€40,497 | -100% |
| Financial debts | 43 | €909 | €909 | = | 0.0% |
| Credit institutions | 430/8 | €909 | €909 | = | 0.0% |
| Trade debts | 44 | €2,396,780 | €3,279,580 | +€882,800 | +36.8% |
| Suppliers | 440/4 | €2,396,780 | €3,279,580 | +€882,800 | +36.8% |
| Advances received on contracts in progress | 46 | - | €102,850 | +€102,850 | |
| Taxes, remuneration and social security | 45 | €5,471 | €11,281 | +€5,810 | +106% |
| Taxes | 450/3 | - | €5,528 | +€5,528 | |
| Remuneration and social security | 454/9 | €5,471 | €5,753 | +€282 | +5.2% |
| Other amounts payable | 47/48 | €38,318 | €20,447 | -€17,871 | -46.6% |
| Accrued charges and deferred income | 492/3 | €32,783 | €67,597 | +€34,814 | +106% |
| Remuneration, social security and pensions | 62 | €46,262 | €47,653 | +€1,391 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €215,706 | €312,612 | +€96,906 | +44.9% |
| Other operating charges | 640/8 | €1,409 | €1,199 | -€210 | -14.9% |
| Gross operating margin | 9900 | -€69,441 | -€123,959 | -€54,518 | -78.5% |
| Operating profit (loss) | 9901 | -€332,818 | -€485,423 | -€152,604 | -45.9% |
| Financial income | 75/76B | €15 | €6,467 | +€6,452 | +42,277% |
| Recurring financial income | 75 | €15 | €6,467 | +€6,452 | +42,277% |
| Financial charges | 65/66B | €25,288 | €45,005 | +€19,717 | +78.0% |
| Recurring financial charges | 65 | €25,288 | €45,005 | +€19,717 | +78.0% |
| Profit (loss) for the period before taxes | 9903 | -€358,091 | -€523,961 | -€165,870 | -46.3% |
| Income taxes | 67/77 | - | €5,528 | +€5,528 | |
| Profit (loss) for the period | 9904 | -€358,091 | -€529,489 | -€171,398 | -47.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€358,091 | -€529,489 | -€171,398 | -47.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.