POPJA: 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.
POPJA
Largest movements
- Cash +€17,452
up €17,452 (+52.6%), from €33,186 to €50,638
mainly Depreciation (+€18,754) and Net result for the year (+€9,295)
- Tangible fixed assets -€9,621
down €9,621 (-18.5%), from €52,019 to €42,398
of which Furniture and vehicles: -€4,918
- Intangible fixed assets -€4,000
down €4,000 (-31.3%), from €12,787 to €8,787
- Receivables within one year +€3,667
up €3,667 (+134.7%), from €2,723 to €6,390
of which Other amounts receivable: +€3,565
- Reserves +€9,295
up €9,295 (+29.4%), from €31,625 to €40,919
- Debts after one year -€7,543
down €7,543 (-37.9%), from €19,887 to €12,343
- Trade debts +€6,965
up €6,965 (+83.1%), from €8,381 to €15,346
- Other debts -€1,434
down €1,434 (-7.4%), from €19,427 to €17,993
- Gross operating margin -€14,396
down €14,396 (-13.9%), from €103,567 to €89,171
- Financial charges -€2,975
down €2,975 (-35.6%), from €8,364 to €5,390
- Taxes -€2,235
down €2,235 (-47.9%), from €4,670 to €2,435
- Depreciation +€1,692
up €1,692 (+9.9%), from €17,061 to €18,754
- Staff costs -€1,185
down €1,185 (-2.1%), from €55,335 to €54,150
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 | €100,716 | €108,214 | +€7,498 | +7.4% |
| Fixed assets | 21/28 | €64,807 | €51,186 | -€13,621 | -21.0% |
| Intangible fixed assets | 21 | €12,787 | €8,787 | -€4,000 | -31.3% |
| Tangible fixed assets | 22/27 | €52,019 | €42,398 | -€9,621 | -18.5% |
| Plant, machinery and equipment | 23 | €25,574 | €20,872 | -€4,703 | -18.4% |
| Furniture and vehicles | 24 | €26,445 | €21,527 | -€4,918 | -18.6% |
| Current assets | 29/58 | €35,909 | €57,028 | +€21,119 | +58.8% |
| Amounts receivable within one year | 40/41 | €2,723 | €6,390 | +€3,667 | +134.7% |
| Trade receivables | 40 | €2,123 | €2,225 | +€102 | +4.8% |
| Other amounts receivable | 41 | €600 | €4,165 | +€3,565 | +594.2% |
| Cash at bank and in hand | 54/58 | €33,186 | €50,638 | +€17,452 | +52.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €100,716 | €108,214 | +€7,498 | +7.4% |
| Equity | 10/15 | €34,625 | €43,919 | +€9,295 | +26.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €31,625 | €40,919 | +€9,295 | +29.4% |
| Distributable reserves | 133 | €31,625 | €40,919 | +€9,295 | +29.4% |
| Amounts payable | 17/49 | €66,091 | €64,294 | -€1,797 | -2.7% |
| Amounts payable after more than one year | 17 | €19,887 | €12,343 | -€7,543 | -37.9% |
| Financial debts | 170/4 | €19,887 | €12,343 | -€7,543 | -37.9% |
| Amounts payable within one year | 42/48 | €46,205 | €51,951 | +€5,746 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €7,854 | €7,543 | -€311 | -4.0% |
| Trade debts | 44 | €8,381 | €15,346 | +€6,965 | +83.1% |
| Suppliers | 440/4 | €8,381 | €15,346 | +€6,965 | +83.1% |
| Taxes, remuneration and social security | 45 | €10,543 | €11,070 | +€526 | +5.0% |
| Taxes | 450/3 | €2,579 | €920 | -€1,659 | -64.3% |
| Remuneration and social security | 454/9 | €7,964 | €10,149 | +€2,185 | +27.4% |
| Other amounts payable | 47/48 | €19,427 | €17,993 | -€1,434 | -7.4% |
| Remuneration, social security and pensions | 62 | €55,335 | €54,150 | -€1,185 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,061 | €18,754 | +€1,692 | +9.9% |
| Other operating charges | 640/8 | €78 | €198 | +€120 | +155.0% |
| Gross operating margin | 9900 | €103,567 | €89,171 | -€14,396 | -13.9% |
| Operating profit (loss) | 9901 | €31,093 | €16,069 | -€15,024 | -48.3% |
| Financial income | 75/76B | €42 | €1,051 | +€1,009 | +2427.5% |
| Recurring financial income | 75 | €42 | €1,051 | +€1,009 | +2427.5% |
| Financial charges | 65/66B | €8,364 | €5,390 | -€2,975 | -35.6% |
| Recurring financial charges | 65 | €8,364 | €5,390 | -€2,975 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | €22,770 | €11,730 | -€11,040 | -48.5% |
| Income taxes | 67/77 | €4,670 | €2,435 | -€2,235 | -47.9% |
| Profit (loss) for the period | 9904 | €18,100 | €9,295 | -€8,805 | -48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,100 | €9,295 | -€8,805 | -48.6% |
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 9 October 2026 via checked.be.