PP FINANCE: 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 FINANCE
Largest movements
- Cash +€177,998
up €177,998 (+27.8%), from €639,762 to €817,760
mainly Net result for the year (+€200,391) and Depreciation (+€15,237)
- Reserves +€200,391
up €200,391 (+10.1%), from €2.0m to €2.2m
of which Distributable reserves: +€200,391
- Financial income +€29,730
up €29,730 (+22.5%), from €132,400 to €162,130
- Gross operating margin -€19,612
down €19,612 (-15.2%), from €129,191 to €109,580
- Taxes -€2,521
down €2,521 (-6.1%), from €41,114 to €38,592
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 | €2,702,676 | €2,878,312 | +€175,637 | +6.5% |
| Fixed assets | 21/28 | €2,051,023 | €2,035,787 | -€15,237 | -0.7% |
| Tangible fixed assets | 22/27 | €63,893 | €48,657 | -€15,237 | -23.8% |
| Land and buildings | 22 | €23,970 | €23,970 | = | 0.0% |
| Furniture and vehicles | 24 | €39,923 | €24,687 | -€15,237 | -38.2% |
| Financial fixed assets | 28 | €1,987,130 | €1,987,130 | = | 0.0% |
| Current assets | 29/58 | €651,652 | €842,526 | +€190,873 | +29.3% |
| Amounts receivable within one year | 40/41 | €10,594 | €24,504 | +€13,910 | +131% |
| Other amounts receivable | 41 | €10,594 | €24,504 | +€13,910 | +131% |
| Cash at bank and in hand | 54/58 | €639,762 | €817,760 | +€177,998 | +27.8% |
| Deferred charges and accrued income | 490/1 | €1,296 | €261 | -€1,035 | -79.8% |
| Total equity and liabilities | 10/49 | €2,702,676 | €2,878,312 | +€175,637 | +6.5% |
| Equity | 10/15 | €2,309,128 | €2,509,519 | +€200,391 | +8.7% |
| 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 | €1,982,724 | €2,183,114 | +€200,391 | +10.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,976,524 | €2,176,914 | +€200,391 | +10.1% |
| Profit (loss) carried forward | 14 | €264,404 | €264,404 | = | 0.0% |
| Amounts payable | 17/49 | €393,548 | €368,794 | -€24,754 | -6.3% |
| Amounts payable within one year | 42/48 | €393,548 | €368,794 | -€24,754 | -6.3% |
| Financial debts | 43 | €1,339 | €262 | -€1,077 | -80.4% |
| Credit institutions | 430/8 | €1,339 | €262 | -€1,077 | -80.4% |
| Trade debts | 44 | €3,713 | €4,960 | +€1,246 | +33.6% |
| Suppliers | 440/4 | €3,713 | €4,960 | +€1,246 | +33.6% |
| Taxes, remuneration and social security | 45 | €7,325 | €7,086 | -€240 | -3.3% |
| Taxes | 450/3 | €7,325 | €7,086 | -€240 | -3.3% |
| Other amounts payable | 47/48 | €381,170 | €356,487 | -€24,684 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,791 | €15,237 | -€555 | -3.5% |
| Other operating charges | 640/8 | €6,358 | €6,882 | +€524 | +8.2% |
| Gross operating margin | 9900 | €129,191 | €109,580 | -€19,612 | -15.2% |
| Operating profit (loss) | 9901 | €107,042 | €87,461 | -€19,581 | -18.3% |
| Financial income | 75/76B | €132,400 | €162,130 | +€29,730 | +22.5% |
| Recurring financial income | 75 | €132,400 | €162,130 | +€29,730 | +22.5% |
| Financial charges | 65/66B | €11,605 | €10,608 | -€997 | -8.6% |
| Recurring financial charges | 65 | €11,605 | €10,608 | -€997 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €227,838 | €238,983 | +€11,146 | +4.9% |
| Income taxes | 67/77 | €41,114 | €38,592 | -€2,521 | -6.1% |
| Profit (loss) for the period | 9904 | €186,724 | €200,391 | +€13,667 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €186,724 | €200,391 | +€13,667 | +7.3% |
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.