PP-LAW: 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-LAW
Largest movements
- Receivables within one year -€35,233
down €35,233 (-23.1%), from €152,484 to €117,251
of which Trade receivables: -€19,757
- Tangible fixed assets -€8,300
down €8,300 (-1.4%), from €583,453 to €575,153
of which Other tangible fixed assets: -€7,335
- Reserves +€199,060
up €199,060 (+958%), from €20,780 to €219,841
of which Distributable reserves: +€200,920
- Profit (loss) carried forward -€181,770
no longer reported in 2025 (was €181,770)
- Debts after one year -€50,882
down €50,882 (-13.0%), from €390,890 to €340,009
- Short-term financial debts -€19,314
down €19,314 (-35.7%), from €54,129 to €34,815
- Other debts +€18,178
new in 2025: €18,178
- Depreciation -€24,098
down €24,098 (-72.6%), from €33,198 to €9,101
- Gross operating margin -€12,302
down €12,302 (-22.8%), from €54,000 to €41,698
- Financial charges +€3,752
up €3,752 (+38.2%), from €9,813 to €13,565
- Other operating charges -€1,744
down €1,744 (-50.0%), from €3,487 to €1,742
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 | €735,940 | €692,472 | -€43,468 | -5.9% |
| Fixed assets | 21/28 | €583,453 | €575,218 | -€8,235 | -1.4% |
| Tangible fixed assets | 22/27 | €583,453 | €575,153 | -€8,300 | -1.4% |
| Land and buildings | 22 | €555,419 | €555,020 | -€399 | -0.1% |
| Furniture and vehicles | 24 | €3,269 | €2,703 | -€566 | -17.3% |
| Other tangible fixed assets | 26 | €24,764 | €17,429 | -€7,335 | -29.6% |
| Financial fixed assets | 28 | - | €65 | +€65 | |
| Current assets | 29/58 | €152,488 | €117,255 | -€35,233 | -23.1% |
| Amounts receivable within one year | 40/41 | €152,484 | €117,251 | -€35,233 | -23.1% |
| Trade receivables | 40 | €136,735 | €116,978 | -€19,757 | -14.4% |
| Other amounts receivable | 41 | €15,749 | €273 | -€15,476 | -98.3% |
| Cash at bank and in hand | 54/58 | €4 | €4 | = | 0.0% |
| Total equity and liabilities | 10/49 | €735,940 | €692,472 | -€43,468 | -5.9% |
| Equity | 10/15 | €221,150 | €238,441 | +€17,291 | +7.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,780 | €219,841 | +€199,060 | +958% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €18,920 | €219,841 | +€200,920 | +1,062% |
| Profit (loss) carried forward | 14 | €181,770 | - | -€181,770 | |
| Amounts payable | 17/49 | €514,791 | €454,032 | -€60,759 | -11.8% |
| Amounts payable after more than one year | 17 | €390,890 | €340,009 | -€50,882 | -13.0% |
| Financial debts | 170/4 | €390,890 | €340,009 | -€50,882 | -13.0% |
| Amounts payable within one year | 42/48 | €123,900 | €114,023 | -€9,877 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €50,092 | €50,882 | +€790 | +1.6% |
| Financial debts | 43 | €54,129 | €34,815 | -€19,314 | -35.7% |
| Credit institutions | 430/8 | €54,129 | €34,815 | -€19,314 | -35.7% |
| Trade debts | 44 | €3,303 | €4,165 | +€862 | +26.1% |
| Suppliers | 440/4 | €3,303 | €4,165 | +€862 | +26.1% |
| Taxes, remuneration and social security | 45 | €16,377 | €5,983 | -€10,394 | -63.5% |
| Taxes | 450/3 | €16,377 | €5,983 | -€10,394 | -63.5% |
| Other amounts payable | 47/48 | - | €18,178 | +€18,178 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,198 | €9,101 | -€24,098 | -72.6% |
| Other operating charges | 640/8 | €3,487 | €1,742 | -€1,744 | -50.0% |
| Gross operating margin | 9900 | €54,000 | €41,698 | -€12,302 | -22.8% |
| Operating profit (loss) | 9901 | €17,315 | €30,855 | +€13,540 | +78.2% |
| Financial income | 75/76B | €38 | €1 | -€37 | -98.7% |
| Recurring financial income | 75 | €38 | €1 | -€37 | -98.7% |
| Financial charges | 65/66B | €9,813 | €13,565 | +€3,752 | +38.2% |
| Recurring financial charges | 65 | €9,813 | €13,565 | +€3,752 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €7,540 | €17,291 | +€9,751 | +129% |
| Profit (loss) for the period | 9904 | €7,540 | €17,291 | +€9,751 | +129% |
| Profit (loss) for the period to be appropriated | 9905 | €7,540 | €17,291 | +€9,751 | +129% |
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 16 October 2026 via checked.be.