POPPY V: 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 V
Largest movements
- Stocks and contracts +€50,834
up €50,834 (+22.2%), from €228,942 to €279,776
- Tangible fixed assets -€27,107
down €27,107 (-14.0%), from €194,279 to €167,172
of which Other tangible fixed assets: -€27,130
- Cash +€11,879
up €11,879 (+86.8%), from €13,685 to €25,564
mainly Net result for the year (+€69,476) and Depreciation (+€30,482)
- Profit (loss) carried forward +€69,476
up €69,476 (+42.6%), from -€163,273 to -€93,797
- Trade debts -€41,972
down €41,972 (-46.7%), from €89,810 to €47,838
- Accrued charges and deferred income +€14,000
up €14,000 (+233%), from €6,000 to €20,000
- Tax, wage and social debts -€6,718
down €6,718 (-14.9%), from €45,003 to €38,285
of which Taxes: -€5,886
- Gross operating margin +€94,836
up €94,836 (+116%), from €81,739 to €176,575
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 | €477,405 | €508,433 | +€31,029 | +6.5% |
| Fixed assets | 21/28 | €199,088 | €169,861 | -€29,227 | -14.7% |
| Intangible fixed assets | 21 | €4,809 | €2,689 | -€2,119 | -44.1% |
| Tangible fixed assets | 22/27 | €194,279 | €167,172 | -€27,107 | -14.0% |
| Plant, machinery and equipment | 23 | €68 | €936 | +€868 | +1,285% |
| Furniture and vehicles | 24 | €1,716 | €871 | -€845 | -49.2% |
| Other tangible fixed assets | 26 | €192,496 | €165,366 | -€27,130 | -14.1% |
| Current assets | 29/58 | €278,317 | €338,572 | +€60,255 | +21.6% |
| Stocks and contracts in progress | 3 | €228,942 | €279,776 | +€50,834 | +22.2% |
| Stocks | 30/36 | €228,942 | €279,776 | +€50,834 | +22.2% |
| Amounts receivable within one year | 40/41 | €23,795 | €21,296 | -€2,499 | -10.5% |
| Trade receivables | 40 | €19,540 | €21,296 | +€1,756 | +9.0% |
| Other amounts receivable | 41 | €4,255 | - | -€4,255 | |
| Cash at bank and in hand | 54/58 | €13,685 | €25,564 | +€11,879 | +86.8% |
| Deferred charges and accrued income | 490/1 | €11,895 | €11,936 | +€41 | +0.3% |
| Total equity and liabilities | 10/49 | €477,405 | €508,433 | +€31,029 | +6.5% |
| Equity | 10/15 | -€163,173 | -€93,697 | +€69,476 | +42.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€163,273 | -€93,797 | +€69,476 | +42.6% |
| Amounts payable | 17/49 | €640,578 | €602,131 | -€38,447 | -6.0% |
| Amounts payable within one year | 42/48 | €634,578 | €582,131 | -€52,447 | -8.3% |
| Trade debts | 44 | €89,810 | €47,838 | -€41,972 | -46.7% |
| Suppliers | 440/4 | €89,810 | €47,838 | -€41,972 | -46.7% |
| Taxes, remuneration and social security | 45 | €45,003 | €38,285 | -€6,718 | -14.9% |
| Taxes | 450/3 | €30,206 | €24,320 | -€5,886 | -19.5% |
| Remuneration and social security | 454/9 | €14,796 | €13,964 | -€832 | -5.6% |
| Other amounts payable | 47/48 | €499,765 | €496,008 | -€3,757 | -0.8% |
| Accrued charges and deferred income | 492/3 | €6,000 | €20,000 | +€14,000 | +233% |
| Remuneration, social security and pensions | 62 | €73,572 | €73,328 | -€244 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,231 | €30,482 | -€748 | -2.4% |
| Other operating charges | 640/8 | €1,334 | €1,219 | -€116 | -8.7% |
| Gross operating margin | 9900 | €81,739 | €176,575 | +€94,836 | +116% |
| Operating profit (loss) | 9901 | -€24,397 | €71,547 | +€95,944 | |
| Financial income | 75/76B | €2,366 | €1,384 | -€981 | -41.5% |
| Recurring financial income | 75 | €2,366 | €1,384 | -€981 | -41.5% |
| Financial charges | 65/66B | €4,541 | €3,078 | -€1,463 | -32.2% |
| Recurring financial charges | 65 | €4,541 | €3,078 | -€1,463 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | -€26,573 | €69,853 | +€96,426 | |
| Income taxes | 67/77 | €221 | €377 | +€156 | +70.4% |
| Profit (loss) for the period | 9904 | -€26,795 | €69,476 | +€96,270 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,795 | €69,476 | +€96,270 |
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 21 October 2026 via checked.be.