POPMAN: 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.
POPMAN
Largest movements
- Cash -€285,210
down €285,210 (-65.4%), from €435,796 to €150,585
mainly Net result for the year (-€254,457) and Other debts (-€210,686)
- Financial fixed assets -€199,469
down €199,469 (-4.8%), from €4.2m to €4.0m
- Profit (loss) carried forward -€254,457
down €254,457 (-12.1%), from -€2.1m to -€2.4m
- Other debts -€210,686
down €210,686 (-6.3%), from €3.3m to €3.1m
- Financial charges +€96,406
up €96,406 (+57.3%), from €168,310 to €264,717
of which Non-recurring financial charges: +€175,533
- Staff costs -€75,013
down €75,013, from €67,527 to -€7,486
- Gross operating margin -€69,635
down €69,635, from €35,603 to -€34,033
- Financial income -€3,193
down €3,193 (-7.7%), from €41,274 to €38,082
- Other operating charges -€1,690
down €1,690 (-57.0%), from €2,965 to €1,275
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 | €6,003,880 | €5,515,387 | -€488,493 | -8.1% |
| Fixed assets | 21/28 | €4,189,514 | €3,990,045 | -€199,469 | -4.8% |
| Financial fixed assets | 28 | €4,189,514 | €3,990,045 | -€199,469 | -4.8% |
| Current assets | 29/58 | €1,814,366 | €1,525,342 | -€289,024 | -15.9% |
| Amounts receivable within one year | 40/41 | €1,377,676 | €1,374,338 | -€3,338 | -0.2% |
| Trade receivables | 40 | €130,750 | €344 | -€130,406 | -99.7% |
| Other amounts receivable | 41 | €1,246,926 | €1,373,994 | +€127,068 | +10.2% |
| Cash at bank and in hand | 54/58 | €435,796 | €150,585 | -€285,210 | -65.4% |
| Deferred charges and accrued income | 490/1 | €894 | €419 | -€475 | -53.1% |
| Total equity and liabilities | 10/49 | €6,003,880 | €5,515,387 | -€488,493 | -8.1% |
| Equity | 10/15 | €2,609,629 | €2,355,173 | -€254,457 | -9.8% |
| Contributions | 10/11 | €4,700,000 | €4,700,000 | = | 0.0% |
| Reserves | 13 | €20,450 | €20,450 | = | 0.0% |
| Distributable reserves | 133 | €20,450 | €20,450 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,110,821 | -€2,365,277 | -€254,457 | -12.1% |
| Amounts payable | 17/49 | €3,394,251 | €3,160,215 | -€234,036 | -6.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €3,394,251 | €3,160,215 | -€234,036 | -6.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,858 | €7,323 | +€1,465 | +25.0% |
| Suppliers | 440/4 | €5,858 | €7,323 | +€1,465 | +25.0% |
| Taxes, remuneration and social security | 45 | €44,115 | €19,300 | -€24,815 | -56.3% |
| Taxes | 450/3 | €34,052 | €19,300 | -€14,752 | -43.3% |
| Remuneration and social security | 454/9 | €10,063 | €0 | -€10,063 | -100% |
| Other amounts payable | 47/48 | €3,344,278 | €3,133,592 | -€210,686 | -6.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €67,527 | -€7,486 | -€75,013 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €2,965 | €1,275 | -€1,690 | -57.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €35,603 | -€34,033 | -€69,635 | |
| Operating profit (loss) | 9901 | -€34,889 | -€27,821 | +€7,067 | +20.3% |
| Financial income | 75/76B | €41,274 | €38,082 | -€3,193 | -7.7% |
| Recurring financial income | 75 | €41,274 | €38,082 | -€3,193 | -7.7% |
| Financial charges | 65/66B | €168,310 | €264,717 | +€96,406 | +57.3% |
| Recurring financial charges | 65 | €168,310 | €89,184 | -€79,127 | -47.0% |
| Non-recurring financial charges | 66B | - | €175,533 | +€175,533 | |
| Profit (loss) for the period before taxes | 9903 | -€161,925 | -€254,457 | -€92,532 | -57.1% |
| Income taxes | 67/77 | €437 | €0 | -€437 | -100% |
| Profit (loss) for the period | 9904 | -€162,362 | -€254,457 | -€92,095 | -56.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€162,362 | -€254,457 | -€92,095 | -56.7% |
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 24 October 2026 via checked.be.