POPOL MANAGEMENT: 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.
POPOL MANAGEMENT
Largest movements
- Cash +€190,904
up €190,904 (+3,545%), from €5,384 to €196,288
mainly Receivables after one year (+€162,983) and Net result for the year (+€56,070)
- Receivables after one year -€162,983
down €162,983 (-21.1%), from €773,555 to €610,572
- Receivables within one year -€13,930
down €13,930 (-76.4%), from €18,231 to €4,301
of which Trade receivables: -€14,550
- Reserves +€56,070
up €56,070 (+425%), from €13,208 to €69,278
- Debts after one year -€36,256
down €36,256 (-4.7%), from €772,027 to €735,771
- Financial income +€112,319
up €112,319 (+576%), from €19,484 to €131,803
of which Non-recurring financial income: +€97,500
- Gross operating margin -€52,239
down €52,239, from €17,601 to -€34,638
- Financial charges +€21,786
up €21,786 (+120%), from €18,088 to €39,874
- Taxes -€3,344
no longer reported in 2025 (was €3,344)
- Depreciation +€759
new in 2025: €759
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 | €799,671 | €812,785 | +€13,114 | +1.6% |
| Fixed assets | 21/28 | €2,500 | €1,623 | -€877 | -35.1% |
| Tangible fixed assets | 22/27 | - | €1,623 | +€1,623 | |
| Furniture and vehicles | 24 | - | €1,623 | +€1,623 | |
| Financial fixed assets | 28 | €2,500 | - | -€2,500 | |
| Current assets | 29/58 | €797,171 | €811,162 | +€13,991 | +1.8% |
| Amounts receivable after more than one year | 29 | €773,555 | €610,572 | -€162,983 | -21.1% |
| Other amounts receivable | 291 | €773,555 | €610,572 | -€162,983 | -21.1% |
| Amounts receivable within one year | 40/41 | €18,231 | €4,301 | -€13,930 | -76.4% |
| Trade receivables | 40 | €18,231 | €3,681 | -€14,550 | -79.8% |
| Other amounts receivable | 41 | - | €620 | +€620 | |
| Cash at bank and in hand | 54/58 | €5,384 | €196,288 | +€190,904 | +3,545% |
| Total equity and liabilities | 10/49 | €799,671 | €812,785 | +€13,114 | +1.6% |
| Equity | 10/15 | €14,208 | €70,278 | +€56,070 | +395% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €13,208 | €69,278 | +€56,070 | +425% |
| Distributable reserves | 133 | €13,208 | €69,278 | +€56,070 | +425% |
| Amounts payable | 17/49 | €785,463 | €742,507 | -€42,956 | -5.5% |
| Amounts payable after more than one year | 17 | €772,027 | €735,771 | -€36,256 | -4.7% |
| Financial debts | 170/4 | €772,027 | €735,771 | -€36,256 | -4.7% |
| Amounts payable within one year | 42/48 | €13,436 | €6,736 | -€6,700 | -49.9% |
| Trade debts | 44 | €3,790 | €568 | -€3,222 | -85.0% |
| Suppliers | 440/4 | €3,790 | €568 | -€3,222 | -85.0% |
| Taxes, remuneration and social security | 45 | €6,637 | €3,344 | -€3,292 | -49.6% |
| Taxes | 450/3 | €6,637 | €3,344 | -€3,292 | -49.6% |
| Other amounts payable | 47/48 | €3,010 | €2,824 | -€186 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €759 | +€759 | |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €17,601 | -€34,638 | -€52,239 | |
| Operating profit (loss) | 9901 | €17,152 | -€35,859 | -€53,010 | |
| Financial income | 75/76B | €19,484 | €131,803 | +€112,319 | +576% |
| Recurring financial income | 75 | €19,484 | €34,303 | +€14,819 | +76.1% |
| Non-recurring financial income | 76B | - | €97,500 | +€97,500 | |
| Financial charges | 65/66B | €18,088 | €39,874 | +€21,786 | +120% |
| Recurring financial charges | 65 | €18,088 | €39,874 | +€21,786 | +120% |
| Profit (loss) for the period before taxes | 9903 | €18,547 | €56,070 | +€37,523 | +202% |
| Income taxes | 67/77 | €3,344 | - | -€3,344 | |
| Profit (loss) for the period | 9904 | €15,203 | €56,070 | +€40,868 | +269% |
| Profit (loss) for the period to be appropriated | 9905 | €15,203 | €56,070 | +€40,868 | +269% |
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 20 October 2026 via checked.be.