POPPE: 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.
POPPE
Largest movements
- Tangible fixed assets +€34,896
up €34,896 (+43.8%), from €79,588 to €114,484
of which Furniture and vehicles: +€35,794
- Cash -€4,477
down €4,477 (-43.2%), from €10,370 to €5,893
mainly Advances received (-€45,000) and Investment in fixed assets (net) (-€40,000)
- Debts after one year +€92,797
new in 2025: €92,797
of which Financial debts: +€47,797
- Advances received -€45,000
down €45,000 (-100%), from €45,000 to €0
- Other debts -€24,562
down €24,562 (-82.5%), from €29,785 to €5,223
- Trade debts -€5,327
down €5,327 (-6.3%), from €84,431 to €79,104
- Tax, wage and social debts +€4,930
up €4,930 (+171%), from €2,892 to €7,822
- Gross operating margin -€1,973
down €1,973 (-9.3%), from €21,299 to €19,327
- Depreciation +€1,683
up €1,683 (+49.2%), from €3,421 to €5,104
- Financial charges -€1,569
down €1,569 (-12.7%), from €12,351 to €10,783
- Taxes -€1,142
down €1,142 (-100%), from €1,142 to €0
- Financial income +€627
up €627 (+651%), from €96 to €724
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 | €408,903 | €434,760 | +€25,857 | +6.3% |
| Fixed assets | 21/28 | €79,723 | €114,619 | +€34,896 | +43.8% |
| Tangible fixed assets | 22/27 | €79,588 | €114,484 | +€34,896 | +43.8% |
| Land and buildings | 22 | €77,027 | €77,027 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,332 | €1,434 | -€898 | -38.5% |
| Furniture and vehicles | 24 | €228 | €36,022 | +€35,794 | +15,693% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €329,181 | €320,142 | -€9,039 | -2.7% |
| Stocks and contracts in progress | 3 | €239,806 | €239,025 | -€781 | -0.3% |
| Stocks | 30/36 | €224,875 | €224,431 | -€444 | -0.2% |
| Contracts in progress | 37 | €14,931 | €14,594 | -€337 | -2.3% |
| Amounts receivable within one year | 40/41 | €76,323 | €72,873 | -€3,450 | -4.5% |
| Trade receivables | 40 | €65,369 | €66,074 | +€706 | +1.1% |
| Other amounts receivable | 41 | €10,955 | €6,799 | -€4,155 | -37.9% |
| Cash at bank and in hand | 54/58 | €10,370 | €5,893 | -€4,477 | -43.2% |
| Deferred charges and accrued income | 490/1 | €2,682 | €2,351 | -€332 | -12.4% |
| Total equity and liabilities | 10/49 | €408,903 | €434,760 | +€25,857 | +6.3% |
| Equity | 10/15 | €124,209 | €127,223 | +€3,014 | +2.4% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €48,944 | €48,944 | = | 0.0% |
| Distributable reserves | 133 | €48,944 | €48,944 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,068 | €72,082 | +€3,014 | +4.4% |
| Amounts payable | 17/49 | €284,694 | €307,537 | +€22,843 | +8.0% |
| Amounts payable after more than one year | 17 | - | €92,797 | +€92,797 | |
| Financial debts | 170/4 | - | €47,797 | +€47,797 | |
| Advances received on contracts in progress | 176 | - | €45,000 | +€45,000 | |
| Amounts payable within one year | 42/48 | €284,607 | €214,649 | -€69,958 | -24.6% |
| Financial debts | 43 | €122,500 | €122,500 | = | 0.0% |
| Other loans | 439 | €122,500 | €122,500 | = | 0.0% |
| Trade debts | 44 | €84,431 | €79,104 | -€5,327 | -6.3% |
| Suppliers | 440/4 | €84,431 | €79,104 | -€5,327 | -6.3% |
| Advances received on contracts in progress | 46 | €45,000 | €0 | -€45,000 | -100% |
| Taxes, remuneration and social security | 45 | €2,892 | €7,822 | +€4,930 | +171% |
| Taxes | 450/3 | €2,892 | €7,822 | +€4,930 | +171% |
| Other amounts payable | 47/48 | €29,785 | €5,223 | -€24,562 | -82.5% |
| Accrued charges and deferred income | 492/3 | €87 | €91 | +€4 | +4.4% |
| Non-recurring operating income | 76A | €33 | €51 | +€18 | +53.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,421 | €5,104 | +€1,683 | +49.2% |
| Other operating charges | 640/8 | €668 | €1,149 | +€481 | +72.1% |
| Gross operating margin | 9900 | €21,299 | €19,327 | -€1,973 | -9.3% |
| Operating profit (loss) | 9901 | €17,211 | €13,073 | -€4,137 | -24.0% |
| Financial income | 75/76B | €96 | €724 | +€627 | +651% |
| Recurring financial income | 75 | €96 | €724 | +€627 | +651% |
| Financial charges | 65/66B | €12,351 | €10,783 | -€1,569 | -12.7% |
| Recurring financial charges | 65 | €12,351 | €10,783 | -€1,569 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €4,956 | €3,014 | -€1,942 | -39.2% |
| Income taxes | 67/77 | €1,142 | €0 | -€1,142 | -100% |
| Profit (loss) for the period | 9904 | €3,814 | €3,014 | -€799 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,814 | €3,014 | -€799 | -21.0% |
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 26 October 2026 via checked.be.