PPA-Electronics: 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.
PPA-Electronics
Largest movements
- Receivables within one year +€183,915
up €183,915 (+14.2%), from €1.3m to €1.5m
of which Other amounts receivable: +€162,882
- Cash +€152,009
up €152,009 (+26.1%), from €582,582 to €734,591
mainly Net result for the year (+€1.0m) and Tax, wage and social debts (+€109,271)
- Stocks and contracts -€78,957
down €78,957 (-14.5%), from €545,410 to €466,453
- Reserves +€1.0m
up €1.0m (+90.7%), from €1.1m to €2.1m
of which Distributable reserves: +€1.0m
- Other debts -€462,096
down €462,096 (-79.7%), from €580,000 to €117,905
- Debts after one year -€366,452
down €366,452 (-94.6%), from €387,285 to €20,833
of which Other amounts payable: -€316,452
- Tax, wage and social debts +€109,271
up €109,271 (+223.9%), from €48,799 to €158,070
of which Taxes: +€82,405
- Gross operating margin +€335,269
up €335,269 (+23.4%), from €1.4m to €1.8m
- Taxes +€112,281
up €112,281 (+169.5%), from €66,254 to €178,535
- Other operating charges -€22,430
down €22,430 (-62.1%), from €36,141 to €13,712
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 | €3,156,003 | €3,461,070 | +€305,067 | +9.7% |
| Fixed assets | 21/28 | €731,766 | €775,469 | +€43,703 | +6.0% |
| Intangible fixed assets | 21 | €24,706 | €54,825 | +€30,119 | +121.9% |
| Tangible fixed assets | 22/27 | €287,592 | €292,176 | +€4,584 | +1.6% |
| Land and buildings | 22 | €2,062 | €0 | -€2,062 | -100.0% |
| Plant, machinery and equipment | 23 | €267,929 | €261,872 | -€6,057 | -2.3% |
| Furniture and vehicles | 24 | €17,601 | €30,304 | +€12,703 | +72.2% |
| Financial fixed assets | 28 | €419,468 | €428,468 | +€9,000 | +2.1% |
| Current assets | 29/58 | €2,424,237 | €2,685,601 | +€261,364 | +10.8% |
| Stocks and contracts in progress | 3 | €545,410 | €466,453 | -€78,957 | -14.5% |
| Stocks | 30/36 | €545,410 | €466,453 | -€78,957 | -14.5% |
| Amounts receivable within one year | 40/41 | €1,293,870 | €1,477,785 | +€183,915 | +14.2% |
| Trade receivables | 40 | €1,147,272 | €1,168,305 | +€21,033 | +1.8% |
| Other amounts receivable | 41 | €146,598 | €309,480 | +€162,882 | +111.1% |
| Cash at bank and in hand | 54/58 | €582,582 | €734,591 | +€152,009 | +26.1% |
| Deferred charges and accrued income | 490/1 | €2,375 | €6,773 | +€4,398 | +185.2% |
| Total equity and liabilities | 10/49 | €3,156,003 | €3,461,070 | +€305,067 | +9.7% |
| Equity | 10/15 | €1,172,363 | €2,186,693 | +€1.0m | +86.5% |
| Contributions | 10/11 | €54,550 | €54,550 | = | 0.0% |
| Reserves | 13 | €1,117,813 | €2,132,143 | +€1.0m | +90.7% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,099,063 | €2,113,393 | +€1.0m | +92.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,983,640 | €1,274,377 | -€709,263 | -35.8% |
| Amounts payable after more than one year | 17 | €387,285 | €20,833 | -€366,452 | -94.6% |
| Financial debts | 170/4 | €70,833 | €20,833 | -€50,000 | -70.6% |
| Other amounts payable | 178/9 | €316,452 | €0 | -€316,452 | -100.0% |
| Amounts payable within one year | 42/48 | €1,596,355 | €1,252,747 | -€343,608 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 43 | €80,499 | €80,317 | -€182 | -0.2% |
| Credit institutions | 430/8 | €80,499 | €80,317 | -€182 | -0.2% |
| Trade debts | 44 | €837,056 | €846,456 | +€9,399 | +1.1% |
| Suppliers | 440/4 | €837,056 | €846,456 | +€9,399 | +1.1% |
| Taxes, remuneration and social security | 45 | €48,799 | €158,070 | +€109,271 | +223.9% |
| Taxes | 450/3 | €10,507 | €92,912 | +€82,405 | +784.3% |
| Remuneration and social security | 454/9 | €38,293 | €65,158 | +€26,866 | +70.2% |
| Other amounts payable | 47/48 | €580,000 | €117,905 | -€462,096 | -79.7% |
| Accrued charges and deferred income | 492/3 | - | €797 | +€797 | |
| Non-recurring operating income | 76A | - | €6,365 | +€6,365 | |
| Remuneration, social security and pensions | 62 | €419,970 | €428,875 | +€8,905 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,435 | €64,809 | +€12,374 | +23.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €36,777 | €46,527 | +€9,750 | +26.5% |
| Other operating charges | 640/8 | €36,141 | €13,712 | -€22,430 | -62.1% |
| Gross operating margin | 9900 | €1,430,454 | €1,765,723 | +€335,269 | +23.4% |
| Operating profit (loss) | 9901 | €885,131 | €1,211,801 | +€326,670 | +36.9% |
| Financial income | 75/76B | €1,245 | €1,346 | +€102 | +8.2% |
| Recurring financial income | 75 | €1,245 | €1,346 | +€102 | +8.2% |
| Financial charges | 65/66B | €11,463 | €20,283 | +€8,820 | +76.9% |
| Recurring financial charges | 65 | €11,463 | €20,283 | +€8,820 | +76.9% |
| Profit (loss) for the period before taxes | 9903 | €874,913 | €1,192,864 | +€317,952 | +36.3% |
| Income taxes | 67/77 | €66,254 | €178,535 | +€112,281 | +169.5% |
| Profit (loss) for the period | 9904 | €808,659 | €1,014,330 | +€205,671 | +25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €808,659 | €1,014,330 | +€205,671 | +25.4% |
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.