Populus Nigra Partners: 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.
Populus Nigra Partners
Largest movements
- Financial fixed assets +€1.4m
up €1.4m (+41.6%), from €3.5m to €4.9m
- Cash +€74,065
up €74,065 (+895%), from €8,271 to €82,336
mainly Contributions, distributions and other (+€1.5m) and Deferred charges and accrued income (+€32,409)
- Contributions +€1.5m
up €1.5m (+43.0%), from €3.5m to €5.0m
- Gross operating margin -€4,689
down €4,689 (-34.4%), from -€13,637 to -€18,326
- Other operating charges +€522
up €522 (+74.3%), from €702 to €1,224
- Financial income -€220
down €220 (-100%), from €220 to €0
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 | €3,492,769 | €4,969,088 | +€1.5m | +42.3% |
| Fixed assets | 21/28 | €3,452,089 | €4,886,752 | +€1.4m | +41.6% |
| Financial fixed assets | 28 | €3,452,089 | €4,886,752 | +€1.4m | +41.6% |
| Current assets | 29/58 | €40,680 | €82,336 | +€41,656 | +102% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €8,271 | €82,336 | +€74,065 | +895% |
| Deferred charges and accrued income | 490/1 | €32,409 | €0 | -€32,409 | -100% |
| Total equity and liabilities | 10/49 | €3,492,769 | €4,969,088 | +€1.5m | +42.3% |
| Equity | 10/15 | €3,488,462 | €4,968,862 | +€1.5m | +42.4% |
| Contributions | 10/11 | €3,490,000 | €4,990,000 | +€1.5m | +43.0% |
| Capital | 10 | €3,490,000 | €4,990,000 | +€1.5m | +43.0% |
| Issued capital | 100 | €10,000,000 | €10,000,000 | = | 0.0% |
| Uncalled capital | 101 | €6,510,000 | €5,010,000 | -€1.5m | -23.0% |
| Reserves | 13 | €632 | €632 | = | 0.0% |
| Non-distributable reserves | 130/1 | €632 | €632 | = | 0.0% |
| Legal reserve | 130 | €632 | €632 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€2,169 | -€21,770 | -€19,601 | -904% |
| Amounts payable | 17/49 | €4,307 | €226 | -€4,081 | -94.8% |
| Amounts payable within one year | 42/48 | €4,307 | €226 | -€4,081 | -94.8% |
| Trade debts | 44 | €95 | €226 | +€131 | +138% |
| Suppliers | 440/4 | €95 | €226 | +€131 | +138% |
| Taxes, remuneration and social security | 45 | €4,212 | €0 | -€4,212 | -100% |
| Taxes | 450/3 | €4,212 | €0 | -€4,212 | -100% |
| Other operating charges | 640/8 | €702 | €1,224 | +€522 | +74.3% |
| Gross operating margin | 9900 | -€13,637 | -€18,326 | -€4,689 | -34.4% |
| Operating profit (loss) | 9901 | -€14,340 | -€19,551 | -€5,211 | -36.3% |
| Financial income | 75/76B | €220 | €0 | -€220 | -100% |
| Recurring financial income | 75 | €220 | €0 | -€220 | -100% |
| Financial charges | 65/66B | €54 | €50 | -€4 | -7.0% |
| Recurring financial charges | 65 | €54 | €50 | -€4 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,174 | -€19,601 | -€5,427 | -38.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€14,174 | -€19,601 | -€5,427 | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,174 | -€19,601 | -€5,427 | -38.3% |
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 25 October 2026 via checked.be.