PP Works: 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 Works
Largest movements
- Tangible fixed assets +€11,884
new in 2025: €11,884
- Cash +€8,589
up €8,589 (+1,109%), from €775 to €9,364
mainly Debts after one year (+€10,076) and Net result for the year (+€9,352)
- Current investments +€4,489
new in 2025: €4,489
- Deferred charges and accrued income -€1,417
down €1,417 (-31.8%), from €4,462 to €3,045
- Receivables within one year -€927
down €927 (-4.9%), from €18,906 to €17,979
of which Other amounts receivable: -€487
- Debts after one year +€10,076
new in 2025: €10,076
- Reserves +€9,352
up €9,352 (+1,151%), from €813 to €10,165
- Current portion of long-term debt +€3,167
new in 2025: €3,167
- Trade debts -€2,246
down €2,246 (-22.0%), from €10,218 to €7,972
- Tax, wage and social debts +€1,969
up €1,969 (+19.5%), from €10,112 to €12,081
of which Taxes: +€4,745
- Staff costs -€13,734
down €13,734 (-17.6%), from €77,893 to €64,159
- Taxes +€4,472
up €4,472 (+359%), from €1,247 to €5,718
- Gross operating margin +€3,524
up €3,524 (+4.4%), from €80,502 to €84,026
- Other operating charges +€3,166
up €3,166 (+432%), from €733 to €3,898
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 | €24,143 | €46,761 | +€22,617 | +93.7% |
| Fixed assets | 21/28 | - | €11,884 | +€11,884 | |
| Tangible fixed assets | 22/27 | - | €11,884 | +€11,884 | |
| Furniture and vehicles | 24 | - | €11,884 | +€11,884 | |
| Current assets | 29/58 | €24,143 | €34,877 | +€10,734 | +44.5% |
| Amounts receivable within one year | 40/41 | €18,906 | €17,979 | -€927 | -4.9% |
| Trade receivables | 40 | €5,705 | €5,265 | -€440 | -7.7% |
| Other amounts receivable | 41 | €13,201 | €12,714 | -€487 | -3.7% |
| Current investments | 50/53 | - | €4,489 | +€4,489 | |
| Cash at bank and in hand | 54/58 | €775 | €9,364 | +€8,589 | +1,109% |
| Deferred charges and accrued income | 490/1 | €4,462 | €3,045 | -€1,417 | -31.8% |
| Total equity and liabilities | 10/49 | €24,143 | €46,761 | +€22,617 | +93.7% |
| Equity | 10/15 | €3,813 | €13,165 | +€9,352 | +245% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €813 | €10,165 | +€9,352 | +1,151% |
| Distributable reserves | 133 | €813 | €10,165 | +€9,352 | +1,151% |
| Amounts payable | 17/49 | €20,330 | €33,595 | +€13,265 | +65.2% |
| Amounts payable after more than one year | 17 | - | €10,076 | +€10,076 | |
| Financial debts | 170/4 | - | €10,076 | +€10,076 | |
| Amounts payable within one year | 42/48 | €20,330 | €23,220 | +€2,889 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | - | €3,167 | +€3,167 | |
| Trade debts | 44 | €10,218 | €7,972 | -€2,246 | -22.0% |
| Suppliers | 440/4 | €10,218 | €7,972 | -€2,246 | -22.0% |
| Taxes, remuneration and social security | 45 | €10,112 | €12,081 | +€1,969 | +19.5% |
| Taxes | 450/3 | €2,220 | €6,965 | +€4,745 | +214% |
| Remuneration and social security | 454/9 | €7,892 | €5,116 | -€2,776 | -35.2% |
| Accrued charges and deferred income | 492/3 | - | €300 | +€300 | |
| Remuneration, social security and pensions | 62 | €77,893 | €64,159 | -€13,734 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €616 | +€616 | |
| Other operating charges | 640/8 | €733 | €3,898 | +€3,166 | +432% |
| Gross operating margin | 9900 | €80,502 | €84,026 | +€3,524 | +4.4% |
| Operating profit (loss) | 9901 | €1,877 | €15,352 | +€13,475 | +718% |
| Financial income | 75/76B | €214 | €483 | +€269 | +126% |
| Recurring financial income | 75 | €214 | €483 | +€269 | +126% |
| Financial charges | 65/66B | €31 | €764 | +€733 | +2,349% |
| Recurring financial charges | 65 | €31 | €764 | +€733 | +2,349% |
| Profit (loss) for the period before taxes | 9903 | €2,060 | €15,071 | +€13,011 | +632% |
| Income taxes | 67/77 | €1,247 | €5,718 | +€4,472 | +359% |
| Profit (loss) for the period | 9904 | €813 | €9,352 | +€8,539 | +1,051% |
| Profit (loss) for the period to be appropriated | 9905 | €813 | €9,352 | +€8,539 | +1,051% |
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 13 October 2026 via checked.be.