PP Ath: what changed
Two fiscal 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.
PP Ath
Largest movements
- Stocks and contracts -€20,382
down €20,382 (-11.8%), from €173,359 to €152,977
- Cash -€14,582
down €14,582 (-43.0%), from €33,889 to €19,308
mainly Debts after one year (-€36,895) and Other debts (-€30,000)
- Tangible fixed assets -€13,463
down €13,463 (-15.8%), from €85,147 to €71,684
of which Other tangible fixed assets: -€13,992
- Intangible fixed assets -€7,084
down €7,084 (-59.7%), from €11,857 to €4,773
- Debts after one year -€36,895
down €36,895 (-57.7%), from €63,900 to €27,004
- Other debts -€30,000
no longer reported in 2025 (was €30,000)
- Profit (loss) carried forward +€11,306
up €11,306 (+24.7%), from €45,814 to €57,120
- Gross operating margin +€48,013
up €48,013 (+34.3%), from €139,901 to €187,914
- Write-downs +€27,727
new in 2025: €27,727
- Staff costs +€12,381
up €12,381 (+13.1%), from €94,356 to €106,738
- Other operating charges +€3,692
up €3,692 (+97.0%), from €3,804 to €7,496
- Taxes +€2,483
up €2,483 (+89.8%), from €2,766 to €5,249
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 | €315,991 | €262,932 | -€53,060 | -16.8% |
| Fixed assets | 21/28 | €97,004 | €76,457 | -€20,547 | -21.2% |
| Intangible fixed assets | 21 | €11,857 | €4,773 | -€7,084 | -59.7% |
| Tangible fixed assets | 22/27 | €85,147 | €71,684 | -€13,463 | -15.8% |
| Plant, machinery and equipment | 23 | €955 | €1,484 | +€529 | +55.3% |
| Other tangible fixed assets | 26 | €84,192 | €70,200 | -€13,992 | -16.6% |
| Current assets | 29/58 | €218,988 | €186,475 | -€32,513 | -14.8% |
| Stocks and contracts in progress | 3 | €173,359 | €152,977 | -€20,382 | -11.8% |
| Stocks | 30/36 | €173,359 | €152,977 | -€20,382 | -11.8% |
| Amounts receivable within one year | 40/41 | €162 | €1,583 | +€1,420 | +876.1% |
| Trade receivables | 40 | - | €402 | +€402 | |
| Other amounts receivable | 41 | €162 | €1,180 | +€1,018 | +627.8% |
| Cash at bank and in hand | 54/58 | €33,889 | €19,308 | -€14,582 | -43.0% |
| Deferred charges and accrued income | 490/1 | €11,577 | €12,608 | +€1,031 | +8.9% |
| Total equity and liabilities | 10/49 | €315,991 | €262,932 | -€53,060 | -16.8% |
| Equity | 10/15 | €55,814 | €67,120 | +€11,306 | +20.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,814 | €57,120 | +€11,306 | +24.7% |
| Amounts payable | 17/49 | €260,177 | €195,811 | -€64,366 | -24.7% |
| Amounts payable after more than one year | 17 | €63,900 | €27,004 | -€36,895 | -57.7% |
| Financial debts | 170/4 | €63,900 | €27,004 | -€36,895 | -57.7% |
| Amounts payable within one year | 42/48 | €196,277 | €168,807 | -€27,470 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €36,522 | €36,870 | +€348 | +1.0% |
| Trade debts | 44 | €81,454 | €81,529 | +€74 | +0.1% |
| Suppliers | 440/4 | €81,454 | €81,529 | +€74 | +0.1% |
| Taxes, remuneration and social security | 45 | €48,301 | €50,409 | +€2,108 | +4.4% |
| Taxes | 450/3 | €35,673 | €35,302 | -€372 | -1.0% |
| Remuneration and social security | 454/9 | €12,628 | €15,107 | +€2,480 | +19.6% |
| Other amounts payable | 47/48 | €30,000 | - | -€30,000 | |
| Remuneration, social security and pensions | 62 | €94,356 | €106,738 | +€12,381 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,636 | €21,796 | +€160 | +0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €27,727 | +€27,727 | |
| Other operating charges | 640/8 | €3,804 | €7,496 | +€3,692 | +97.0% |
| Gross operating margin | 9900 | €139,901 | €187,914 | +€48,013 | +34.3% |
| Operating profit (loss) | 9901 | €20,104 | €24,158 | +€4,054 | +20.2% |
| Financial income | 75/76B | €0 | €1 | +€1 | +147.5% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +147.5% |
| Financial charges | 65/66B | €9,990 | €7,604 | -€2,386 | -23.9% |
| Recurring financial charges | 65 | €9,990 | €7,604 | -€2,386 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €10,115 | €16,555 | +€6,440 | +63.7% |
| Income taxes | 67/77 | €2,766 | €5,249 | +€2,483 | +89.8% |
| Profit (loss) for the period | 9904 | €7,349 | €11,306 | +€3,957 | +53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,349 | €11,306 | +€3,957 | +53.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.