POTEMKINO: 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.
POTEMKINO
Largest movements
- Deferred charges and accrued income +€418,079
up €418,079 (+59.6%), from €701,294 to €1.1m
- Receivables within one year -€169,769
down €169,769 (-49.1%), from €345,793 to €176,024
of which Trade receivables: -€198,886
- Cash -€25,138
down €25,138 (-91.4%), from €27,517 to €2,379
mainly Deferred charges and accrued income (-€418,079) and Trade debts (-€284,952)
- Trade debts -€284,952
down €284,952 (-38.2%), from €746,635 to €461,683
- Current portion of long-term debt +€250,000
new in 2025: €250,000
- Debts after one year +€230,506
new in 2025: €230,506
- Accrued charges and deferred income +€175,201
up €175,201 (+274%), from €63,830 to €239,031
- Short-term financial debts -€136,108
down €136,108 (-85.2%), from €159,813 to €23,705
- Financial charges +€5,027
up €5,027 (+258%), from €1,949 to €6,976
- Gross operating margin -€4,004
down €4,004 (-7.5%), from €53,102 to €49,098
- Taxes -€3,960
down €3,960 (-88.5%), from €4,473 to €513
- Staff costs -€1,248
down €1,248 (-3.1%), from €40,336 to €39,088
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 | €1,075,804 | €1,298,690 | +€222,886 | +20.7% |
| Fixed assets | 21/28 | €1,200 | €914 | -€286 | -23.8% |
| Tangible fixed assets | 22/27 | €1,200 | €914 | -€286 | -23.8% |
| Furniture and vehicles | 24 | €1,200 | €914 | -€286 | -23.8% |
| Current assets | 29/58 | €1,074,604 | €1,297,776 | +€223,172 | +20.8% |
| Amounts receivable within one year | 40/41 | €345,793 | €176,024 | -€169,769 | -49.1% |
| Trade receivables | 40 | €274,751 | €75,865 | -€198,886 | -72.4% |
| Other amounts receivable | 41 | €71,042 | €100,159 | +€29,117 | +41.0% |
| Cash at bank and in hand | 54/58 | €27,517 | €2,379 | -€25,138 | -91.4% |
| Deferred charges and accrued income | 490/1 | €701,294 | €1,119,373 | +€418,079 | +59.6% |
| Total equity and liabilities | 10/49 | €1,075,804 | €1,298,690 | +€222,886 | +20.7% |
| Equity | 10/15 | €91,039 | €87,424 | -€3,615 | -4.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,979 | €79,364 | -€3,615 | -4.4% |
| Amounts payable | 17/49 | €984,765 | €1,211,266 | +€226,501 | +23.0% |
| Amounts payable after more than one year | 17 | - | €230,506 | +€230,506 | |
| Financial debts | 170/4 | - | €230,506 | +€230,506 | |
| Amounts payable within one year | 42/48 | €920,935 | €741,729 | -€179,206 | -19.5% |
| Current portion of amounts payable after more than one year | 42 | - | €250,000 | +€250,000 | |
| Financial debts | 43 | €159,813 | €23,705 | -€136,108 | -85.2% |
| Credit institutions | 430/8 | €159,813 | €23,705 | -€136,108 | -85.2% |
| Trade debts | 44 | €746,635 | €461,683 | -€284,952 | -38.2% |
| Suppliers | 440/4 | €746,635 | €461,683 | -€284,952 | -38.2% |
| Taxes, remuneration and social security | 45 | €7,479 | €5,833 | -€1,646 | -22.0% |
| Taxes | 450/3 | €3,000 | €513 | -€2,487 | -82.9% |
| Remuneration and social security | 454/9 | €4,479 | €5,320 | +€841 | +18.8% |
| Other amounts payable | 47/48 | €7,008 | €508 | -€6,500 | -92.8% |
| Accrued charges and deferred income | 492/3 | €63,830 | €239,031 | +€175,201 | +274% |
| Remuneration, social security and pensions | 62 | €40,336 | €39,088 | -€1,248 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,200 | €1,236 | +€36 | +3.0% |
| Other operating charges | 640/8 | €4,881 | €4,972 | +€91 | +1.9% |
| Gross operating margin | 9900 | €53,102 | €49,098 | -€4,004 | -7.5% |
| Operating profit (loss) | 9901 | €6,685 | €3,802 | -€2,883 | -43.1% |
| Financial income | 75/76B | - | €72 | +€72 | |
| Recurring financial income | 75 | - | €72 | +€72 | |
| Financial charges | 65/66B | €1,949 | €6,976 | +€5,027 | +258% |
| Recurring financial charges | 65 | €1,949 | €6,976 | +€5,027 | +258% |
| Profit (loss) for the period before taxes | 9903 | €4,736 | -€3,102 | -€7,838 | |
| Income taxes | 67/77 | €4,473 | €513 | -€3,960 | -88.5% |
| Profit (loss) for the period | 9904 | €263 | -€3,615 | -€3,878 | |
| Profit (loss) for the period to be appropriated | 9905 | €263 | -€3,615 | -€3,878 |
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 31 October 2026 via checked.be.