POPIMMO: 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.
POPIMMO
Largest movements
- Receivables within one year -€116,599
down €116,599 (-20.2%), from €577,090 to €460,492
of which Trade receivables: -€145,152
- Profit (loss) carried forward -€139,012
down €139,012 (-83.0%), from -€167,474 to -€306,486
- Other debts +€33,047
up €33,047 (+15.7%), from €210,293 to €243,341
- Reserves -€23,111
down €23,111 (-5.2%), from €445,263 to €422,151
of which Tax-exempt reserves: -€23,111
- Gross operating margin -€100,449
down €100,449, from €65,551 to -€34,898
- Financial charges -€8,792
down €8,792 (-21.2%), from €41,501 to €32,709
- Staff costs +€6,323
up €6,323 (+8.8%), from €71,882 to €78,205
- Provisions -€4,387
down €4,387, from €2,605 to -€1,782
- Depreciation -€3,905
down €3,905 (-26.5%), from €14,720 to €10,815
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 | €1,574,715 | €1,440,447 | -€134,268 | -8.5% |
| Fixed assets | 21/28 | €55,019 | €44,203 | -€10,815 | -19.7% |
| Tangible fixed assets | 22/27 | €55,019 | €44,203 | -€10,815 | -19.7% |
| Land and buildings | 22 | €54,677 | €44,203 | -€10,474 | -19.2% |
| Plant, machinery and equipment | 23 | €342 | - | -€342 | |
| Current assets | 29/58 | €1,519,697 | €1,396,244 | -€123,453 | -8.1% |
| Stocks and contracts in progress | 3 | €935,399 | €935,399 | = | 0.0% |
| Stocks | 30/36 | €935,399 | €935,399 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €577,090 | €460,492 | -€116,599 | -20.2% |
| Trade receivables | 40 | €170,152 | €25,000 | -€145,152 | -85.3% |
| Other amounts receivable | 41 | €406,939 | €435,492 | +€28,553 | +7.0% |
| Cash at bank and in hand | 54/58 | €7,208 | €353 | -€6,855 | -95.1% |
| Total equity and liabilities | 10/49 | €1,574,715 | €1,440,447 | -€134,268 | -8.5% |
| Equity | 10/15 | €339,289 | €177,166 | -€162,123 | -47.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | - | €61,500 | +€61,500 | |
| Issued capital | 100 | - | €61,500 | +€61,500 | |
| Outside capital | 11 | €61,500 | - | -€61,500 | |
| Other | 1109/19 | €61,500 | - | -€61,500 | |
| Reserves | 13 | €445,263 | €422,151 | -€23,111 | -5.2% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €439,113 | €416,001 | -€23,111 | -5.3% |
| Profit (loss) carried forward | 14 | -€167,474 | -€306,486 | -€139,012 | -83.0% |
| Provisions and deferred taxes | 16 | €146,371 | €138,667 | -€7,704 | -5.3% |
| Deferred taxes | 168 | €146,371 | €138,667 | -€7,704 | -5.3% |
| Amounts payable | 17/49 | €1,089,056 | €1,124,614 | +€35,558 | +3.3% |
| Amounts payable within one year | 42/48 | €1,089,056 | €1,124,614 | +€35,558 | +3.3% |
| Financial debts | 43 | €820,000 | €820,000 | = | 0.0% |
| Credit institutions | 430/8 | €820,000 | €820,000 | = | 0.0% |
| Trade debts | 44 | €45,225 | €48,942 | +€3,717 | +8.2% |
| Suppliers | 440/4 | €45,225 | €48,942 | +€3,717 | +8.2% |
| Taxes, remuneration and social security | 45 | €13,538 | €12,332 | -€1,206 | -8.9% |
| Taxes | 450/3 | - | €172 | +€172 | |
| Remuneration and social security | 454/9 | €13,538 | €12,160 | -€1,378 | -10.2% |
| Other amounts payable | 47/48 | €210,293 | €243,341 | +€33,047 | +15.7% |
| Remuneration, social security and pensions | 62 | €71,882 | €78,205 | +€6,323 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,720 | €10,815 | -€3,905 | -26.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,605 | -€1,782 | -€4,387 | |
| Other operating charges | 640/8 | €13,711 | €14,982 | +€1,271 | +9.3% |
| Gross operating margin | 9900 | €65,551 | -€34,898 | -€100,449 | |
| Operating profit (loss) | 9901 | -€37,367 | -€137,118 | -€99,751 | -267.0% |
| Financial charges | 65/66B | €41,501 | €32,709 | -€8,792 | -21.2% |
| Recurring financial charges | 65 | €41,501 | €32,709 | -€8,792 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | -€78,868 | -€169,827 | -€90,959 | -115.3% |
| Transfer from deferred taxes | 780 | €7,704 | €7,704 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€71,164 | -€162,123 | -€90,959 | -127.8% |
| Transfer from tax-exempt reserves | 789 | €23,111 | €23,111 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,053 | -€139,012 | -€90,959 | -189.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.