PP LINE: 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 LINE
Largest movements
- Receivables within one year -€19,198
down €19,198 (-14.9%), from €128,997 to €109,799
of which Trade receivables: -€16,682
- Tangible fixed assets +€17,293
up €17,293 (+31.6%), from €54,654 to €71,946
of which Plant, machinery and equipment: +€29,342
- Cash -€2,766
down €2,766 (-11.4%), from €24,197 to €21,431
mainly Net result for the year (-€91,409) and Investment in fixed assets (net) (-€35,622)
- Profit (loss) carried forward -€91,409
down €91,409 (-517.5%), from -€17,663 to -€109,072
- Other debts +€53,526
up €53,526 (+42.2%), from €126,803 to €180,329
- Debts after one year +€22,424
new in 2025: €22,424
- Current portion of long-term debt +€10,576
new in 2025: €10,576
- Gross operating margin -€69,460
down €69,460 (-31.9%), from €217,730 to €148,271
- Staff costs +€42,152
up €42,152 (+29.9%), from €140,917 to €183,068
- Other operating charges +€16,883
up €16,883 (+84.2%), from €20,044 to €36,927
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 | €237,209 | €232,537 | -€4,671 | -2.0% |
| Fixed assets | 21/28 | €84,014 | €101,307 | +€17,293 | +20.6% |
| Tangible fixed assets | 22/27 | €54,654 | €71,946 | +€17,293 | +31.6% |
| Land and buildings | 22 | €28,744 | €21,270 | -€7,474 | -26.0% |
| Plant, machinery and equipment | 23 | €2,246 | €31,587 | +€29,342 | +1306.5% |
| Furniture and vehicles | 24 | €23,664 | €19,089 | -€4,575 | -19.3% |
| Financial fixed assets | 28 | €29,361 | €29,361 | = | 0.0% |
| Current assets | 29/58 | €153,194 | €131,230 | -€21,964 | -14.3% |
| Amounts receivable within one year | 40/41 | €128,997 | €109,799 | -€19,198 | -14.9% |
| Trade receivables | 40 | €107,909 | €91,227 | -€16,682 | -15.5% |
| Other amounts receivable | 41 | €21,087 | €18,572 | -€2,516 | -11.9% |
| Cash at bank and in hand | 54/58 | €24,197 | €21,431 | -€2,766 | -11.4% |
| Total equity and liabilities | 10/49 | €237,209 | €232,537 | -€4,671 | -2.0% |
| Equity | 10/15 | €3,237 | -€88,172 | -€91,409 | |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,663 | -€109,072 | -€91,409 | -517.5% |
| Amounts payable | 17/49 | €233,972 | €320,709 | +€86,738 | +37.1% |
| Amounts payable after more than one year | 17 | - | €22,424 | +€22,424 | |
| Financial debts | 170/4 | - | €22,424 | +€22,424 | |
| Amounts payable within one year | 42/48 | €233,972 | €298,286 | +€64,314 | +27.5% |
| Current portion of amounts payable after more than one year | 42 | - | €10,576 | +€10,576 | |
| Trade debts | 44 | €85,513 | €83,967 | -€1,547 | -1.8% |
| Suppliers | 440/4 | €85,513 | €83,967 | -€1,547 | -1.8% |
| Taxes, remuneration and social security | 45 | €21,655 | €23,413 | +€1,758 | +8.1% |
| Taxes | 450/3 | €19,674 | €15,611 | -€4,063 | -20.6% |
| Remuneration and social security | 454/9 | €1,981 | €7,802 | +€5,821 | +293.8% |
| Other amounts payable | 47/48 | €126,803 | €180,329 | +€53,526 | +42.2% |
| Remuneration, social security and pensions | 62 | €140,917 | €183,068 | +€42,152 | +29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,511 | €18,329 | +€819 | +4.7% |
| Other operating charges | 640/8 | €20,044 | €36,927 | +€16,883 | +84.2% |
| Gross operating margin | 9900 | €217,730 | €148,271 | -€69,460 | -31.9% |
| Operating profit (loss) | 9901 | €39,259 | -€90,054 | -€129,313 | |
| Financial income | 75/76B | - | €496 | +€496 | |
| Recurring financial income | 75 | - | €496 | +€496 | |
| Financial charges | 65/66B | €3,032 | €1,851 | -€1,180 | -38.9% |
| Recurring financial charges | 65 | €3,032 | €1,851 | -€1,180 | -38.9% |
| Profit (loss) for the period before taxes | 9903 | €36,227 | -€91,409 | -€127,636 | |
| Profit (loss) for the period | 9904 | €36,227 | -€91,409 | -€127,636 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,227 | -€91,409 | -€127,636 |
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 28 September 2026 via checked.be.