PP BELGIUM: 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.
What changed
PP BELGIUM
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€505,444
2024 · €30,177-€535,621
Equity
€118,720
2024 · €624,165-€505,444
Cash
€14,302
2024 · €5,538+€8,764
Balance sheet total
€2.1m
2024 · €1.8m+€235,382
Largest movements
Assets
- Receivables within one year +€171,154
up €171,154 (+17.7%), from €966,211 to €1.1m
of which Other amounts receivable: +€362,048
- Intangible fixed assets +€31,878
up €31,878 (+25.0%), from €127,318 to €159,197
Equity and liabilities
- Debts after one year +€568,830
up €568,830 (+86.9%), from €654,818 to €1.2m
- Profit (loss) carried forward -€505,444
down €505,444 (-34.3%), from -€1.5m to -€2.0m
- Other debts +€269,145
up €269,145 (+209%), from €128,748 to €397,892
- Current portion of long-term debt -€141,140
down €141,140 (-90.5%), from €156,008 to €14,868
- Accrued charges and deferred income +€56,506
up €56,506 (+47.1%), from €120,092 to €176,599
Income statement
- Services and other goods +€220,805
up €220,805 (+23.8%), from €928,781 to €1.1m
- Staff costs +€119,397
up €119,397 (+175%), from €68,036 to €187,434
- Turnover -€110,138
down €110,138 (-10.0%), from €1.1m to €988,213
- Financial charges +€62,475
up €62,475 (+194%), from €32,155 to €94,630
of which Financial charges: +€62,475
- Depreciation +€21,578
up €21,578 (+50.7%), from €42,522 to €64,100
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.
Result 2024
€30,177
Turnover
-€110,138
Other operating income
-€3,959
Services and other goods
-€220,805
Staff costs
-€119,397
Depreciation
-€21,578
Other operating charges
+€476
Other operating items
+€2,267
Financial income
+€191
Financial charges
-€62,475
Taxes
-€203
Result 2025
-€505,444
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€303,441
Investment
-€115,485
Financing
+€427,690
Cash 2024
€5,538
From operations (derived)
-€303,441
Net result for the year
-€505,444
Depreciation
+€64,100
Receivables within one year
-€171,154
Deferred charges and accrued income
-€4,079
Trade debts
-€33,942
Tax, wage and social debts
+€21,427
Other debts
+€269,145
Accrued charges and deferred income
+€56,506
Investment (derived)
-€115,485
Investment in fixed assets (net)
-€115,485
Financing
+€427,690
Debts after one year
+€568,830
Current portion of long-term debt
-€141,140
Cash 2025
€14,302
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,823,887 | €2,059,269 | +€235,382 | +12.9% |
| Formation expenses | 20 | €834 | €498 | -€336 | -40.3% |
| Fixed assets | 21/28 | €840,498 | €892,220 | +€51,722 | +6.2% |
| Intangible fixed assets | 21 | €127,318 | €159,197 | +€31,878 | +25.0% |
| Tangible fixed assets | 22/27 | €48,580 | €68,423 | +€19,843 | +40.8% |
| Plant, machinery and equipment | 23 | €8,146 | €7,416 | -€730 | -9.0% |
| Furniture and vehicles | 24 | €19,016 | €11,701 | -€7,315 | -38.5% |
| Leasing and similar rights | 25 | €19,484 | €48,095 | +€28,611 | +147% |
| Other tangible fixed assets | 26 | €1,934 | €1,211 | -€722 | -37.4% |
| Financial fixed assets | 28 | €664,600 | €664,600 | = | 0.0% |
| Affiliated companies | 280/1 | €664,600 | €664,600 | = | 0.0% |
| Participating interests | 280 | €664,600 | €664,600 | = | 0.0% |
| Current assets | 29/58 | €982,554 | €1,166,551 | +€183,996 | +18.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €966,211 | €1,137,364 | +€171,154 | +17.7% |
| Trade receivables | 40 | €882,318 | €691,424 | -€190,894 | -21.6% |
| Other amounts receivable | 41 | €83,892 | €445,940 | +€362,048 | +432% |
| Cash at bank and in hand | 54/58 | €5,538 | €14,302 | +€8,764 | +158% |
| Deferred charges and accrued income | 490/1 | €10,806 | €14,884 | +€4,079 | +37.7% |
| Total equity and liabilities | 10/49 | €1,823,887 | €2,059,269 | +€235,382 | +12.9% |
| Equity | 10/15 | €624,165 | €118,720 | -€505,444 | -81.0% |
| Contributions | 10/11 | €1,847,636 | €1,847,636 | = | 0.0% |
| Capital | 10 | €1,045,467 | €1,045,467 | = | 0.0% |
| Issued capital | 100 | €1,045,467 | €1,045,467 | = | 0.0% |
| Contributions outside capital | 11 | €802,168 | €802,168 | = | 0.0% |
| Share premium | 1100/10 | €802,168 | €802,168 | = | 0.0% |
| Revaluation surpluses | 12 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,475,331 | -€1,980,775 | -€505,444 | -34.3% |
| Amounts payable | 17/49 | €1,199,722 | €1,940,548 | +€740,826 | +61.7% |
| Amounts payable after more than one year | 17 | €654,818 | €1,223,648 | +€568,830 | +86.9% |
| Financial debts | 170/4 | €654,818 | €1,223,648 | +€568,830 | +86.9% |
| Subordinated loans | 170 | €640,792 | €1,190,792 | +€550,000 | +85.8% |
| Leasing and similar obligations | 172 | €14,026 | €32,856 | +€18,830 | +134% |
| Amounts payable within one year | 42/48 | €424,812 | €540,301 | +€115,489 | +27.2% |
| Current portion of amounts payable after more than one year | 42 | €156,008 | €14,868 | -€141,140 | -90.5% |
| Trade debts | 44 | €119,309 | €85,367 | -€33,942 | -28.4% |
| Suppliers | 440/4 | €119,309 | €85,367 | -€33,942 | -28.4% |
| Taxes, remuneration and social security | 45 | €20,747 | €42,174 | +€21,427 | +103% |
| Taxes | 450/3 | €10,607 | €10,184 | -€423 | -4.0% |
| Remuneration and social security | 454/9 | €10,140 | €31,990 | +€21,850 | +215% |
| Other amounts payable | 47/48 | €128,748 | €397,892 | +€269,145 | +209% |
| Accrued charges and deferred income | 492/3 | €120,092 | €176,599 | +€56,506 | +47.1% |
| Operating income | 70/76A | €1,117,107 | €1,003,011 | -€114,097 | -10.2% |
| Turnover | 70 | €1,098,351 | €988,213 | -€110,138 | -10.0% |
| Other operating income | 74 | €18,757 | €14,798 | -€3,959 | -21.1% |
| Operating charges | 60/66A | €1,054,522 | €1,413,559 | +€359,037 | +34.0% |
| Services and other goods | 61 | €928,781 | €1,149,586 | +€220,805 | +23.8% |
| Remuneration, social security and pensions | 62 | €68,036 | €187,434 | +€119,397 | +175% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,522 | €64,100 | +€21,578 | +50.7% |
| Other operating charges | 640/8 | €12,916 | €12,439 | -€476 | -3.7% |
| Non-recurring operating charges | 66A | €2,267 | €0 | -€2,267 | -100% |
| Operating profit (loss) | 9901 | €62,586 | -€410,548 | -€473,134 | |
| Financial income | 75/76B | €0 | €191 | +€191 | |
| Recurring financial income | 75 | €0 | €191 | +€191 | |
| Other financial income | 752/9 | €0 | €191 | +€191 | |
| Financial charges | 65/66B | €32,155 | €94,630 | +€62,475 | +194% |
| Recurring financial charges | 65 | €32,155 | €94,630 | +€62,475 | +194% |
| Debt charges | 650 | €31,037 | €93,379 | +€62,342 | +201% |
| Other financial charges | 652/9 | €1,118 | €1,251 | +€133 | +11.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €30,431 | -€504,987 | -€535,418 | |
| Income taxes | 67/77 | €254 | €457 | +€203 | +79.7% |
| Taxes | 670/3 | €254 | €457 | +€203 | +79.7% |
| Profit (loss) for the period | 9904 | €30,177 | -€505,444 | -€535,621 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,177 | -€505,444 | -€535,621 |
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 23 October 2026 via checked.be.