POPPY CAESAR: 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.
POPPY CAESAR
Largest movements
- Tangible fixed assets -€518,783
down €518,783 (-2.7%), from €19.0m to €18.5m
- Debts after one year -€900,000
down €900,000 (-7.4%), from €12.2m to €11.3m
of which Financial debts: -€900,000
- Short-term financial debts +€834,929
up €834,929 (+20.4%), from €4.1m to €4.9m
- Profit (loss) carried forward -€372,650
down €372,650 (-189%), from -€197,181 to -€569,831
- Financial charges -€210,612
down €210,612 (-25.0%), from €843,883 to €633,270
- Financial income +€145,993
up €145,993 (+32,118%), from €455 to €146,447
of which Non-recurring financial income: +€146,447
- Other operating charges +€76,139
up €76,139 (+13.4%), from €569,457 to €645,596
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 | €20,499,488 | €19,874,538 | -€624,950 | -3.0% |
| Fixed assets | 21/28 | €18,992,054 | €18,473,271 | -€518,783 | -2.7% |
| Tangible fixed assets | 22/27 | €18,992,054 | €18,473,271 | -€518,783 | -2.7% |
| Land and buildings | 22 | €18,992,054 | €18,473,271 | -€518,783 | -2.7% |
| Current assets | 29/58 | €1,507,435 | €1,401,267 | -€106,167 | -7.0% |
| Amounts receivable within one year | 40/41 | €1,200,644 | €1,256,009 | +€55,364 | +4.6% |
| Trade receivables | 40 | €1,200,644 | €1,256,009 | +€55,364 | +4.6% |
| Cash at bank and in hand | 54/58 | €71,602 | €60,342 | -€11,260 | -15.7% |
| Deferred charges and accrued income | 490/1 | €235,188 | €84,917 | -€150,271 | -63.9% |
| Total equity and liabilities | 10/49 | €20,499,488 | €19,874,538 | -€624,950 | -3.0% |
| Equity | 10/15 | €2,054,898 | €1,682,248 | -€372,650 | -18.1% |
| Contributions | 10/11 | €2,203,100 | €2,203,100 | = | 0.0% |
| Capital | 10 | €2,203,100 | €2,203,100 | = | 0.0% |
| Issued capital | 100 | €2,203,100 | €2,203,100 | = | 0.0% |
| Reserves | 13 | €48,979 | €48,979 | = | 0.0% |
| Non-distributable reserves | 130/1 | €48,979 | €48,979 | = | 0.0% |
| Legal reserve | 130 | €48,979 | €48,979 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€197,181 | -€569,831 | -€372,650 | -189% |
| Amounts payable | 17/49 | €18,444,590 | €18,192,290 | -€252,300 | -1.4% |
| Amounts payable after more than one year | 17 | €12,174,935 | €11,274,935 | -€900,000 | -7.4% |
| Financial debts | 170/4 | €12,050,000 | €11,150,000 | -€900,000 | -7.5% |
| Other amounts payable | 178/9 | €124,935 | €124,935 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,787,778 | €6,439,697 | +€651,918 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €900,000 | €900,000 | = | 0.0% |
| Financial debts | 43 | €4,096,006 | €4,930,936 | +€834,929 | +20.4% |
| Other loans | 439 | €4,096,006 | €4,930,936 | +€834,929 | +20.4% |
| Trade debts | 44 | €645,099 | €599,630 | -€45,469 | -7.0% |
| Suppliers | 440/4 | €645,099 | €599,630 | -€45,469 | -7.0% |
| Other amounts payable | 47/48 | €146,673 | €9,130 | -€137,542 | -93.8% |
| Accrued charges and deferred income | 492/3 | €481,877 | €477,658 | -€4,219 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €518,783 | €518,783 | -€0 | 0.0% |
| Other operating charges | 640/8 | €569,457 | €645,596 | +€76,139 | +13.4% |
| Gross operating margin | 9900 | €1,266,582 | €1,278,552 | +€11,970 | +0.9% |
| Operating profit (loss) | 9901 | €178,342 | €114,173 | -€64,169 | -36.0% |
| Financial income | 75/76B | €455 | €146,447 | +€145,993 | +32,118% |
| Recurring financial income | 75 | €455 | €146,447 | +€145,993 | +32,118% |
| Non-recurring financial income | 76B | - | €146,447 | +€146,447 | |
| Financial charges | 65/66B | €843,883 | €633,270 | -€210,612 | -25.0% |
| Recurring financial charges | 65 | €843,883 | €633,270 | -€210,612 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | -€665,086 | -€372,650 | +€292,436 | +44.0% |
| Profit (loss) for the period | 9904 | -€665,086 | -€372,650 | +€292,436 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€665,086 | -€372,650 | +€292,436 | +44.0% |
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 15 October 2026 via checked.be.