POWERLINK 21: 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.
POWERLINK 21
Largest movements
- Receivables within one year +€127,221
up €127,221 (+295%), from €43,097 to €170,318
of which Trade receivables: +€116,884
- Cash +€23,604
up €23,604 (+15.8%), from €149,837 to €173,441
mainly Trade debts (+€106,848) and Net result for the year (+€30,990)
- Trade debts +€106,848
up €106,848 (+107%), from €99,999 to €206,847
- Profit (loss) carried forward +€27,956
up €27,956 (+94.2%), from €29,679 to €57,635
- Accrued charges and deferred income +€15,595
new in 2025: €15,595
- Gross operating margin -€9,041
down €9,041 (-17.8%), from €50,712 to €41,670
- Taxes -€2,330
down €2,330 (-23.3%), from €9,993 to €7,663
- Other operating charges +€1,312
up €1,312 (+260%), from €505 to €1,818
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 | €199,374 | €351,249 | +€151,875 | +76.2% |
| Current assets | 29/58 | €199,374 | €351,249 | +€151,875 | +76.2% |
| Amounts receivable within one year | 40/41 | €43,097 | €170,318 | +€127,221 | +295% |
| Trade receivables | 40 | €40,590 | €157,474 | +€116,884 | +288% |
| Other amounts receivable | 41 | €2,507 | €12,843 | +€10,337 | +412% |
| Cash at bank and in hand | 54/58 | €149,837 | €173,441 | +€23,604 | +15.8% |
| Deferred charges and accrued income | 490/1 | €6,440 | €7,490 | +€1,050 | +16.3% |
| Total equity and liabilities | 10/49 | €199,374 | €351,249 | +€151,875 | +76.2% |
| Equity | 10/15 | €91,179 | €122,169 | +€30,990 | +34.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | - | €3,033 | +€3,033 | |
| Non-distributable reserves | 130/1 | - | €3,033 | +€3,033 | |
| Legal reserve | 130 | - | €3,033 | +€3,033 | |
| Profit (loss) carried forward | 14 | €29,679 | €57,635 | +€27,956 | +94.2% |
| Amounts payable | 17/49 | €108,196 | €229,080 | +€120,885 | +112% |
| Amounts payable within one year | 42/48 | €108,196 | €213,485 | +€105,290 | +97.3% |
| Trade debts | 44 | €99,999 | €206,847 | +€106,848 | +107% |
| Suppliers | 440/4 | €99,999 | €206,847 | +€106,848 | +107% |
| Taxes, remuneration and social security | 45 | €8,197 | €6,639 | -€1,558 | -19.0% |
| Taxes | 450/3 | €8,197 | €6,639 | -€1,558 | -19.0% |
| Accrued charges and deferred income | 492/3 | - | €15,595 | +€15,595 | |
| Other operating charges | 640/8 | €505 | €1,818 | +€1,312 | +260% |
| Gross operating margin | 9900 | €50,712 | €41,670 | -€9,041 | -17.8% |
| Operating profit (loss) | 9901 | €50,206 | €39,853 | -€10,354 | -20.6% |
| Financial charges | 65/66B | €1,206 | €1,199 | -€7 | -0.5% |
| Recurring financial charges | 65 | €1,206 | €1,199 | -€7 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €49,000 | €38,653 | -€10,347 | -21.1% |
| Income taxes | 67/77 | €9,993 | €7,663 | -€2,330 | -23.3% |
| Profit (loss) for the period | 9904 | €39,007 | €30,990 | -€8,017 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,007 | €30,990 | -€8,017 | -20.6% |
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 13 October 2026 via checked.be.