POPLAR: 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.
POPLAR
Largest movements
- Cash -€482,638
down €482,638 (-70.1%), from €688,181 to €205,543
mainly Other debts (-€517,314) and Net result for the year (-€33,229)
- Receivables within one year -€55,348
down €55,348 (-17.4%), from €318,425 to €263,078
of which Trade receivables: -€55,348
- Other debts -€517,314
down €517,314 (-89.7%), from €576,817 to €59,502
- Profit (loss) carried forward -€33,229
down €33,229 (-9.8%), from €339,241 to €306,012
- Accrued charges and deferred income -€14,202
down €14,202 (-36.7%), from €38,707 to €24,505
- Tax, wage and social debts +€11,245
up €11,245 (+20.9%), from €53,699 to €64,944
of which Taxes: +€12,201
- Gross operating margin -€207,456
down €207,456 (-63.6%), from €326,394 to €118,938
- Staff costs -€135,109
down €135,109 (-48.0%), from €281,702 to €146,593
- Depreciation -€13,224
down €13,224 (-67.3%), from €19,647 to €6,423
- Financial charges -€7,243
down €7,243 (-97.7%), from €7,413 to €170
- Taxes -€5,451
down €5,451 (-98.5%), from €5,534 to €83
From the 30-06-2025 result to the 31-12-2025 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 30-06-2025 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 30-06-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,052,475 | €507,127 | -€545,348 | -51.8% |
| Fixed assets | 21/28 | €39,007 | €32,584 | -€6,423 | -16.5% |
| Intangible fixed assets | 21 | €37,773 | €31,477 | -€6,295 | -16.7% |
| Tangible fixed assets | 22/27 | €1,235 | €1,107 | -€128 | -10.3% |
| Furniture and vehicles | 24 | €1,235 | €1,107 | -€128 | -10.3% |
| Current assets | 29/58 | €1,013,467 | €474,543 | -€538,925 | -53.2% |
| Stocks and contracts in progress | 3 | €3,478 | €3,750 | +€272 | +7.8% |
| Contracts in progress | 37 | €3,478 | €3,750 | +€272 | +7.8% |
| Amounts receivable within one year | 40/41 | €318,425 | €263,078 | -€55,348 | -17.4% |
| Trade receivables | 40 | €108,960 | €53,612 | -€55,348 | -50.8% |
| Other amounts receivable | 41 | €209,466 | €209,466 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €688,181 | €205,543 | -€482,638 | -70.1% |
| Deferred charges and accrued income | 490/1 | €3,383 | €2,172 | -€1,212 | -35.8% |
| Total equity and liabilities | 10/49 | €1,052,475 | €507,127 | -€545,348 | -51.8% |
| Equity | 10/15 | €360,801 | €327,572 | -€33,229 | -9.2% |
| Contributions | 10/11 | €19,600 | €19,600 | = | 0.0% |
| Reserves | 13 | €1,960 | €1,960 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,960 | - | -€1,960 | |
| Reserves not available under the articles | 1311 | €1,960 | - | -€1,960 | |
| Distributable reserves | 133 | - | €1,960 | +€1,960 | |
| Profit (loss) carried forward | 14 | €339,241 | €306,012 | -€33,229 | -9.8% |
| Amounts payable | 17/49 | €691,674 | €179,555 | -€512,118 | -74.0% |
| Amounts payable within one year | 42/48 | €652,967 | €155,050 | -€497,917 | -76.3% |
| Trade debts | 44 | €22,452 | €30,604 | +€8,153 | +36.3% |
| Suppliers | 440/4 | €22,452 | €30,604 | +€8,153 | +36.3% |
| Taxes, remuneration and social security | 45 | €53,699 | €64,944 | +€11,245 | +20.9% |
| Taxes | 450/3 | €8,304 | €20,505 | +€12,201 | +146.9% |
| Remuneration and social security | 454/9 | €45,395 | €44,438 | -€956 | -2.1% |
| Other amounts payable | 47/48 | €576,817 | €59,502 | -€517,314 | -89.7% |
| Accrued charges and deferred income | 492/3 | €38,707 | €24,505 | -€14,202 | -36.7% |
| Remuneration, social security and pensions | 62 | €281,702 | €146,593 | -€135,109 | -48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,647 | €6,423 | -€13,224 | -67.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €326,394 | €118,938 | -€207,456 | -63.6% |
| Operating profit (loss) | 9901 | €24,658 | -€34,478 | -€59,135 | |
| Financial income | 75/76B | €171 | €1,501 | +€1,330 | +775.7% |
| Recurring financial income | 75 | €171 | €1,501 | +€1,330 | +775.7% |
| Financial charges | 65/66B | €7,413 | €170 | -€7,243 | -97.7% |
| Recurring financial charges | 65 | €7,413 | €170 | -€7,243 | -97.7% |
| Profit (loss) for the period before taxes | 9903 | €17,417 | -€33,146 | -€50,563 | |
| Income taxes | 67/77 | €5,534 | €83 | -€5,451 | -98.5% |
| Profit (loss) for the period | 9904 | €11,882 | -€33,229 | -€45,111 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,882 | -€33,229 | -€45,111 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.