PP BENELUX: 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.
PP BENELUX
Largest movements
- Receivables within one year -€266,168
down €266,168 (-38.7%), from €688,342 to €422,174
of which Trade receivables: -€165,663
- Stocks and contracts +€216,480
up €216,480 (+190%), from €114,154 to €330,634
- Cash +€146,831
up €146,831 (+75.4%), from €194,796 to €341,627
mainly Other debts (+€635,163) and Receivables within one year (+€266,168)
- Intangible fixed assets -€25,006
down €25,006 (-49.9%), from €50,139 to €25,133
- Other debts +€635,163
up €635,163 (+220%), from €288,598 to €923,760
- Trade debts -€461,276
down €461,276 (-89.6%), from €515,040 to €53,764
- Profit (loss) carried forward -€61,965
down €61,965 (-19.9%), from €311,024 to €249,059
- Debts after one year -€36,915
down €36,915 (-100%), from €36,915 to €0
- Tax, wage and social debts +€20,231
up €20,231 (+120%), from €16,841 to €37,073
of which Remuneration and social security: +€20,344
- Staff costs +€177,681
up €177,681 (+123%), from €144,787 to €322,469
- Write-downs -€67,281
down €67,281 (-99.4%), from €67,691 to €410
- Gross operating margin +€26,721
up €26,721 (+9.8%), from €274,056 to €300,778
- Financial charges -€21,199
down €21,199 (-69.8%), from €30,364 to €9,164
- Depreciation -€3,552
down €3,552 (-10.6%), from €33,628 to €30,076
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 | €1,297,522 | €1,368,771 | +€71,249 | +5.5% |
| Fixed assets | 21/28 | €295,330 | €271,735 | -€23,595 | -8.0% |
| Intangible fixed assets | 21 | €50,139 | €25,133 | -€25,006 | -49.9% |
| Tangible fixed assets | 22/27 | €5,191 | €6,603 | +€1,411 | +27.2% |
| Plant, machinery and equipment | 23 | €4,915 | €1,203 | -€3,712 | -75.5% |
| Furniture and vehicles | 24 | €276 | €5,400 | +€5,123 | +1,855% |
| Financial fixed assets | 28 | €240,000 | €240,000 | = | 0.0% |
| Current assets | 29/58 | €1,002,192 | €1,097,036 | +€94,844 | +9.5% |
| Stocks and contracts in progress | 3 | €114,154 | €330,634 | +€216,480 | +190% |
| Stocks | 30/36 | €114,154 | €330,634 | +€216,480 | +190% |
| Amounts receivable within one year | 40/41 | €688,342 | €422,174 | -€266,168 | -38.7% |
| Trade receivables | 40 | €184,013 | €18,351 | -€165,663 | -90.0% |
| Other amounts receivable | 41 | €504,328 | €403,823 | -€100,505 | -19.9% |
| Cash at bank and in hand | 54/58 | €194,796 | €341,627 | +€146,831 | +75.4% |
| Deferred charges and accrued income | 490/1 | €4,900 | €2,601 | -€2,299 | -46.9% |
| Total equity and liabilities | 10/49 | €1,297,522 | €1,368,771 | +€71,249 | +5.5% |
| Equity | 10/15 | €379,224 | €317,259 | -€61,965 | -16.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €311,024 | €249,059 | -€61,965 | -19.9% |
| Amounts payable | 17/49 | €918,298 | €1,051,512 | +€133,214 | +14.5% |
| Amounts payable after more than one year | 17 | €36,915 | €0 | -€36,915 | -100% |
| Financial debts | 170/4 | €36,915 | €0 | -€36,915 | -100% |
| Amounts payable within one year | 42/48 | €876,960 | €1,051,512 | +€174,552 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €47,194 | €36,915 | -€10,280 | -21.8% |
| Financial debts | 43 | €8,450 | €0 | -€8,450 | -100% |
| Credit institutions | 430/8 | €8,450 | €0 | -€8,450 | -100% |
| Trade debts | 44 | €515,040 | €53,764 | -€461,276 | -89.6% |
| Suppliers | 440/4 | €515,040 | €53,764 | -€461,276 | -89.6% |
| Advances received on contracts in progress | 46 | €836 | €0 | -€836 | -100% |
| Taxes, remuneration and social security | 45 | €16,841 | €37,073 | +€20,231 | +120% |
| Taxes | 450/3 | €360 | €248 | -€112 | -31.2% |
| Remuneration and social security | 454/9 | €16,481 | €36,825 | +€20,344 | +123% |
| Other amounts payable | 47/48 | €288,598 | €923,760 | +€635,163 | +220% |
| Accrued charges and deferred income | 492/3 | €4,424 | €0 | -€4,424 | -100% |
| Non-recurring operating income | 76A | €2,645 | €0 | -€2,645 | -100% |
| Remuneration, social security and pensions | 62 | €144,787 | €322,469 | +€177,681 | +123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,628 | €30,076 | -€3,552 | -10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €67,691 | €410 | -€67,281 | -99.4% |
| Other operating charges | 640/8 | €0 | €998 | +€998 | |
| Non-recurring operating charges | 66A | €1,928 | €0 | -€1,928 | -100% |
| Gross operating margin | 9900 | €274,056 | €300,778 | +€26,721 | +9.8% |
| Operating profit (loss) | 9901 | €26,022 | -€53,176 | -€79,198 | |
| Financial income | 75/76B | €2,164 | €551 | -€1,613 | -74.5% |
| Recurring financial income | 75 | €2,164 | €551 | -€1,613 | -74.5% |
| Financial charges | 65/66B | €30,364 | €9,164 | -€21,199 | -69.8% |
| Recurring financial charges | 65 | €30,364 | €9,164 | -€21,199 | -69.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,177 | -€61,789 | -€59,612 | -2,738% |
| Income taxes | 67/77 | €71 | €176 | +€105 | +146% |
| Profit (loss) for the period | 9904 | -€2,248 | -€61,965 | -€59,717 | -2,656% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,248 | -€61,965 | -€59,717 | -2,656% |
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 19 October 2026 via checked.be.