POPPES: 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.
POPPES
Largest movements
- Receivables after one year -€1.3m
down €1.3m (-39.3%), from €3.3m to €2.0m
- Cash +€1.1m
up €1.1m (+385%), from €288,521 to €1.4m
mainly Receivables after one year (+€1.3m) and Net result for the year (+€109,515)
No liability line moved by more than 1% of the balance sheet total.
- Financial income +€82,824
up €82,824 (+131%), from €63,397 to €146,220
- Taxes +€25,210
up €25,210 (+95.4%), from €26,440 to €51,650
- Gross operating margin -€5,276
down €5,276 (-21.6%), from €24,426 to €19,150
- Other operating charges +€2,711
up €2,711 (+280%), from €968 to €3,679
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 | €48,092,227 | €48,200,197 | +€107,969 | +0.2% |
| Formation expenses | 20 | €806 | €382 | -€424 | -52.7% |
| Fixed assets | 21/28 | €42,739,677 | €42,739,677 | = | 0.0% |
| Financial fixed assets | 28 | €42,739,677 | €42,739,677 | = | 0.0% |
| Current assets | 29/58 | €5,351,745 | €5,460,139 | +€108,394 | +2.0% |
| Amounts receivable after more than one year | 29 | €3,297,247 | €1,999,977 | -€1.3m | -39.3% |
| Other amounts receivable | 291 | €3,297,247 | €1,999,977 | -€1.3m | -39.3% |
| Current investments | 50/53 | €1,758,978 | €2,059,477 | +€300,499 | +17.1% |
| Cash at bank and in hand | 54/58 | €288,521 | €1,400,562 | +€1.1m | +385% |
| Deferred charges and accrued income | 490/1 | €6,999 | €122 | -€6,876 | -98.3% |
| Total equity and liabilities | 10/49 | €48,092,227 | €48,200,197 | +€107,969 | +0.2% |
| Equity | 10/15 | €48,064,996 | €48,174,510 | +€109,515 | +0.2% |
| Contributions | 10/11 | €47,995,911 | €47,995,911 | = | 0.0% |
| Reserves | 13 | €59,929 | €169,444 | +€109,515 | +183% |
| Distributable reserves | 133 | €59,929 | €169,444 | +€109,515 | +183% |
| Profit (loss) carried forward | 14 | €9,156 | €9,156 | = | 0.0% |
| Amounts payable | 17/49 | €27,232 | €25,687 | -€1,545 | -5.7% |
| Amounts payable within one year | 42/48 | €27,232 | €25,687 | -€1,545 | -5.7% |
| Trade debts | 44 | €395 | €1,291 | +€895 | +227% |
| Suppliers | 440/4 | €395 | €1,291 | +€895 | +227% |
| Taxes, remuneration and social security | 45 | €26,837 | €24,396 | -€2,440 | -9.1% |
| Taxes | 450/3 | €26,837 | €24,396 | -€2,440 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €424 | €424 | = | 0.0% |
| Other operating charges | 640/8 | €968 | €3,679 | +€2,711 | +280% |
| Gross operating margin | 9900 | €24,426 | €19,150 | -€5,276 | -21.6% |
| Operating profit (loss) | 9901 | €23,034 | €15,046 | -€7,988 | -34.7% |
| Financial income | 75/76B | €63,397 | €146,220 | +€82,824 | +131% |
| Recurring financial income | 75 | €63,397 | €146,220 | +€82,824 | +131% |
| Financial charges | 65/66B | €62 | €102 | +€40 | +64.9% |
| Recurring financial charges | 65 | €62 | €102 | +€40 | +64.9% |
| Profit (loss) for the period before taxes | 9903 | €86,369 | €161,165 | +€74,796 | +86.6% |
| Income taxes | 67/77 | €26,440 | €51,650 | +€25,210 | +95.4% |
| Profit (loss) for the period | 9904 | €59,929 | €109,515 | +€49,585 | +82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €59,929 | €109,515 | +€49,585 | +82.7% |
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.