Powtree Capital: 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.
Powtree Capital
Largest movements
- Receivables after one year +€1.2m
up €1.2m (+73.5%), from €1.6m to €2.8m
- Current investments -€546,676
down €546,676 (-78.3%), from €698,223 to €151,548
- Cash +€441,403
up €441,403 (+332%), from €132,949 to €574,352
mainly Net result for the year (+€603,466) and Current investments (+€546,676)
- Tangible fixed assets +€340,327
up €340,327 (+34.4%), from €990,084 to €1.3m
of which Land and buildings: +€362,004
- Receivables within one year -€150,236
down €150,236 (-63.0%), from €238,640 to €88,404
of which Trade receivables: -€153,695
- Reserves +€403,466
up €403,466 (+14.9%), from €2.7m to €3.1m
- Other debts +€349,070
up €349,070 (+349%), from €100,000 to €449,070
- Debts after one year +€285,991
up €285,991 (+63.9%), from €447,457 to €733,448
- Trade debts +€145,616
up €145,616 (+61.7%), from €235,875 to €381,491
- Tax, wage and social debts +€57,148
up €57,148 (+391%), from €14,618 to €71,767
of which Taxes: +€56,882
- Gross operating margin +€159,001
up €159,001 (+17.9%), from €889,950 to €1.0m
- Depreciation +€93,938
up €93,938 (+207%), from €45,345 to €139,284
- Taxes +€24,608
up €24,608 (+11.6%), from €212,711 to €237,319
- Financial charges +€13,265
up €13,265 (+193%), from €6,881 to €20,146
- Financial income -€13,141
down €13,141 (-34.0%), from €38,593 to €25,452
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 | €3,671,943 | €4,938,172 | +€1.3m | +34.5% |
| Fixed assets | 21/28 | €990,084 | €1,330,411 | +€340,327 | +34.4% |
| Tangible fixed assets | 22/27 | €990,084 | €1,330,411 | +€340,327 | +34.4% |
| Land and buildings | 22 | €771,198 | €1,133,202 | +€362,004 | +46.9% |
| Furniture and vehicles | 24 | €218,886 | €197,208 | -€21,677 | -9.9% |
| Current assets | 29/58 | €2,681,860 | €3,607,762 | +€925,902 | +34.5% |
| Amounts receivable after more than one year | 29 | €1,607,826 | €2,789,378 | +€1.2m | +73.5% |
| Other amounts receivable | 291 | €1,607,826 | €2,789,378 | +€1.2m | +73.5% |
| Amounts receivable within one year | 40/41 | €238,640 | €88,404 | -€150,236 | -63.0% |
| Trade receivables | 40 | €238,003 | €84,307 | -€153,695 | -64.6% |
| Other amounts receivable | 41 | €637 | €4,096 | +€3,459 | +543% |
| Current investments | 50/53 | €698,223 | €151,548 | -€546,676 | -78.3% |
| Cash at bank and in hand | 54/58 | €132,949 | €574,352 | +€441,403 | +332% |
| Deferred charges and accrued income | 490/1 | €4,221 | €4,080 | -€142 | -3.4% |
| Total equity and liabilities | 10/49 | €3,671,943 | €4,938,172 | +€1.3m | +34.5% |
| Equity | 10/15 | €2,707,097 | €3,110,562 | +€403,466 | +14.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,702,097 | €3,105,562 | +€403,466 | +14.9% |
| Distributable reserves | 133 | €2,702,097 | €3,105,562 | +€403,466 | +14.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €964,847 | €1,827,610 | +€862,763 | +89.4% |
| Amounts payable after more than one year | 17 | €447,457 | €733,448 | +€285,991 | +63.9% |
| Financial debts | 170/4 | €447,457 | €733,448 | +€285,991 | +63.9% |
| Amounts payable within one year | 42/48 | €390,921 | €968,008 | +€577,087 | +148% |
| Current portion of amounts payable after more than one year | 42 | €40,428 | €65,680 | +€25,252 | +62.5% |
| Trade debts | 44 | €235,875 | €381,491 | +€145,616 | +61.7% |
| Suppliers | 440/4 | €235,875 | €381,491 | +€145,616 | +61.7% |
| Taxes, remuneration and social security | 45 | €14,618 | €71,767 | +€57,148 | +391% |
| Taxes | 450/3 | €7,176 | €64,058 | +€56,882 | +793% |
| Remuneration and social security | 454/9 | €7,443 | €7,709 | +€267 | +3.6% |
| Other amounts payable | 47/48 | €100,000 | €449,070 | +€349,070 | +349% |
| Accrued charges and deferred income | 492/3 | €126,469 | €126,154 | -€315 | -0.2% |
| Remuneration, social security and pensions | 62 | €68,115 | €65,298 | -€2,817 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,345 | €139,284 | +€93,938 | +207% |
| Other operating charges | 640/8 | €6,659 | €8,890 | +€2,231 | +33.5% |
| Gross operating margin | 9900 | €889,950 | €1,048,951 | +€159,001 | +17.9% |
| Operating profit (loss) | 9901 | €769,831 | €835,479 | +€65,648 | +8.5% |
| Financial income | 75/76B | €38,593 | €25,452 | -€13,141 | -34.0% |
| Recurring financial income | 75 | €38,593 | €25,452 | -€13,141 | -34.0% |
| Financial charges | 65/66B | €6,881 | €20,146 | +€13,265 | +193% |
| Recurring financial charges | 65 | €6,881 | €20,146 | +€13,265 | +193% |
| Profit (loss) for the period before taxes | 9903 | €801,543 | €840,785 | +€39,242 | +4.9% |
| Income taxes | 67/77 | €212,711 | €237,319 | +€24,608 | +11.6% |
| Profit (loss) for the period | 9904 | €588,832 | €603,466 | +€14,634 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €588,832 | €603,466 | +€14,634 | +2.5% |
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 14 October 2026 via checked.be.