POSEIDON: 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.
POSEIDON
Largest movements
- Current investments -€2.5m
down €2.5m (-92.6%), from €2.7m to €200,000
- Receivables within one year +€2.4m
up €2.4m (+68.7%), from €3.4m to €5.8m
of which Other amounts receivable: +€2.5m
- Tangible fixed assets +€264,182
up €264,182 (+4.0%), from €6.6m to €6.8m
of which Land and buildings: +€266,718
- Deferred charges and accrued income +€139,259
up €139,259 (+64.6%), from €215,532 to €354,791
- Contributions +€799,500
up €799,500 (+644.8%), from €124,000 to €923,500
of which Contributions outside capital: +€792,408
- Reserves +€307,743
up €307,743 (+2.9%), from €10.6m to €10.9m
of which Distributable reserves: +€343,416
- Trade debts -€279,240
down €279,240 (-94.0%), from €297,046 to €17,806
- Debts after one year -€250,078
down €250,078 (-31.1%), from €804,196 to €554,118
- Gross operating margin +€50,807
up €50,807 (+5.9%), from €867,679 to €918,486
- Financial income -€28,899
down €28,899 (-13.6%), from €212,174 to €183,275
- Other operating charges +€20,111
up €20,111 (+22.7%), from €88,551 to €108,662
- Financial charges -€16,173
down €16,173 (-27.9%), from €57,871 to €41,698
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.
Cash bridge derived
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 | €13,089,143 | €13,430,247 | +€341,104 | +2.6% |
| Fixed assets | 21/28 | €6,562,841 | €6,827,023 | +€264,182 | +4.0% |
| Tangible fixed assets | 22/27 | €6,562,841 | €6,827,023 | +€264,182 | +4.0% |
| Land and buildings | 22 | €6,552,751 | €6,819,469 | +€266,718 | +4.1% |
| Furniture and vehicles | 24 | €10,090 | €7,554 | -€2,536 | -25.1% |
| Current assets | 29/58 | €6,526,302 | €6,603,224 | +€76,923 | +1.2% |
| Stocks and contracts in progress | 3 | €121,455 | €123,778 | +€2,323 | +1.9% |
| Stocks | 30/36 | €121,455 | €123,778 | +€2,323 | +1.9% |
| Amounts receivable within one year | 40/41 | €3,430,688 | €5,787,598 | +€2.4m | +68.7% |
| Trade receivables | 40 | €112,632 | €1,407 | -€111,225 | -98.8% |
| Other amounts receivable | 41 | €3,318,056 | €5,786,191 | +€2.5m | +74.4% |
| Current investments | 50/53 | €2,700,000 | €200,000 | -€2.5m | -92.6% |
| Cash at bank and in hand | 54/58 | €58,627 | €137,057 | +€78,430 | +133.8% |
| Deferred charges and accrued income | 490/1 | €215,532 | €354,791 | +€139,259 | +64.6% |
| Total equity and liabilities | 10/49 | €13,089,143 | €13,430,247 | +€341,104 | +2.6% |
| Equity | 10/15 | €10,714,124 | €11,821,367 | +€1.1m | +10.3% |
| Contributions | 10/11 | €124,000 | €923,500 | +€799,500 | +644.8% |
| Capital | 10 | €124,000 | €131,093 | +€7,093 | +5.7% |
| Issued capital | 100 | €124,000 | €131,093 | +€7,093 | +5.7% |
| Contributions outside capital | 11 | - | €792,408 | +€792,408 | |
| Share premium | 1100/10 | - | €792,408 | +€792,408 | |
| Reserves | 13 | €10,590,124 | €10,897,867 | +€307,743 | +2.9% |
| Non-distributable reserves | 130/1 | €12,400 | €13,109 | +€709 | +5.7% |
| Legal reserve | 130 | €12,400 | €13,109 | +€709 | +5.7% |
| Tax-exempt reserves | 132 | €2,754,460 | €2,718,079 | -€36,382 | -1.3% |
| Distributable reserves | 133 | €7,823,264 | €8,166,680 | +€343,416 | +4.4% |
| Provisions and deferred taxes | 16 | €819,920 | €709,560 | -€110,361 | -13.5% |
| Deferred taxes | 168 | €819,920 | €709,560 | -€110,361 | -13.5% |
| Amounts payable | 17/49 | €1,555,098 | €899,320 | -€655,778 | -42.2% |
| Amounts payable after more than one year | 17 | €804,196 | €554,118 | -€250,078 | -31.1% |
| Financial debts | 170/4 | €804,196 | €554,118 | -€250,078 | -31.1% |
| Amounts payable within one year | 42/48 | €741,907 | €341,208 | -€400,699 | -54.0% |
| Current portion of amounts payable after more than one year | 42 | €373,489 | €250,078 | -€123,411 | -33.0% |
| Trade debts | 44 | €297,046 | €17,806 | -€279,240 | -94.0% |
| Suppliers | 440/4 | €297,046 | €17,806 | -€279,240 | -94.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €1,372 | €3,323 | +€1,951 | +142.2% |
| Taxes | 450/3 | €1,372 | €3,323 | +€1,951 | +142.2% |
| Other amounts payable | 47/48 | €70,000 | €70,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €8,995 | €3,995 | -€5,000 | -55.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €547,291 | €551,745 | +€4,453 | +0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€6,166 | -€6,166 | |
| Other operating charges | 640/8 | €88,551 | €108,662 | +€20,111 | +22.7% |
| Gross operating margin | 9900 | €867,679 | €918,486 | +€50,807 | +5.9% |
| Operating profit (loss) | 9901 | €231,837 | €264,246 | +€32,409 | +14.0% |
| Financial income | 75/76B | €212,174 | €183,275 | -€28,899 | -13.6% |
| Recurring financial income | 75 | €212,174 | €183,275 | -€28,899 | -13.6% |
| Financial charges | 65/66B | €57,871 | €41,698 | -€16,173 | -27.9% |
| Recurring financial charges | 65 | €57,871 | €41,698 | -€16,173 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €386,141 | €405,823 | +€19,682 | +5.1% |
| Transfer from deferred taxes | 780 | €110,361 | €110,361 | = | 0.0% |
| Income taxes | 67/77 | €203,113 | €208,441 | +€5,328 | +2.6% |
| Profit (loss) for the period | 9904 | €293,388 | €307,743 | +€14,355 | +4.9% |
| Transfer from tax-exempt reserves | 789 | €331,082 | €331,082 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €294,700 | €294,700 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €329,770 | €344,125 | +€14,355 | +4.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.