PPA INVEST: 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.
PPA INVEST
Largest movements
- Financial fixed assets -€780,000
down €780,000 (-94.0%), from €830,000 to €50,000
- Tangible fixed assets +€770,900
new in 2025: €770,900
- Cash +€84,400
up €84,400 (+574%), from €14,716 to €99,117
mainly Contributions, distributions and other (+€71,050) and Depreciation (+€14,936)
- Reserves +€821,050
new in 2025: €821,050
of which Tax-exempt reserves: +€806,949
- Profit (loss) carried forward -€762,050
down €762,050 (-11,408%), from -€6,680 to -€768,730
- Gross operating margin +€14,685
up €14,685, from -€3,013 to €11,672
- Depreciation +€14,104
up €14,104 (+1,694%), from €833 to €14,936
- Other operating charges +€4,338
up €4,338 (+341%), from €1,273 to €5,611
- Taxes +€2,804
new in 2025: €2,804
- Financial charges +€230
up €230 (+164%), from €141 to €370
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 | €848,484 | €926,083 | +€77,599 | +9.1% |
| Formation expenses | 20 | €2,517 | €1,687 | -€830 | -33.0% |
| Fixed assets | 21/28 | €830,000 | €820,900 | -€9,100 | -1.1% |
| Tangible fixed assets | 22/27 | - | €770,900 | +€770,900 | |
| Land and buildings | 22 | - | €770,900 | +€770,900 | |
| Financial fixed assets | 28 | €830,000 | €50,000 | -€780,000 | -94.0% |
| Current assets | 29/58 | €15,966 | €103,497 | +€87,530 | +548% |
| Amounts receivable within one year | 40/41 | €1,250 | €316 | -€934 | -74.7% |
| Other amounts receivable | 41 | €1,250 | €316 | -€934 | -74.7% |
| Cash at bank and in hand | 54/58 | €14,716 | €99,117 | +€84,400 | +574% |
| Deferred charges and accrued income | 490/1 | - | €4,064 | +€4,064 | |
| Total equity and liabilities | 10/49 | €848,484 | €926,083 | +€77,599 | +9.1% |
| Equity | 10/15 | €68,320 | €127,320 | +€59,000 | +86.4% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | - | €821,050 | +€821,050 | |
| Tax-exempt reserves | 132 | - | €806,949 | +€806,949 | |
| Distributable reserves | 133 | - | €14,100 | +€14,100 | |
| Profit (loss) carried forward | 14 | -€6,680 | -€768,730 | -€762,050 | -11,408% |
| Amounts payable | 17/49 | €780,163 | €798,763 | +€18,600 | +2.4% |
| Amounts payable after more than one year | 17 | €780,000 | €780,000 | = | 0.0% |
| Financial debts | 170/4 | €780,000 | €780,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €163 | €18,763 | +€18,600 | +11,386% |
| Trade debts | 44 | €163 | €8,759 | +€8,596 | +5,262% |
| Suppliers | 440/4 | €163 | €8,759 | +€8,596 | +5,262% |
| Taxes, remuneration and social security | 45 | - | €1,630 | +€1,630 | |
| Taxes | 450/3 | - | €1,630 | +€1,630 | |
| Other amounts payable | 47/48 | - | €8,374 | +€8,374 | |
| Non-recurring operating income | 76A | - | €204 | +€204 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €833 | €14,936 | +€14,104 | +1,694% |
| Other operating charges | 640/8 | €1,273 | €5,611 | +€4,338 | +341% |
| Gross operating margin | 9900 | -€3,013 | €11,672 | +€14,685 | |
| Operating profit (loss) | 9901 | -€5,119 | -€8,875 | -€3,757 | -73.4% |
| Financial charges | 65/66B | €141 | €370 | +€230 | +164% |
| Recurring financial charges | 65 | €141 | €370 | +€230 | +164% |
| Profit (loss) for the period before taxes | 9903 | -€5,259 | -€9,246 | -€3,987 | -75.8% |
| Income taxes | 67/77 | - | €2,804 | +€2,804 | |
| Profit (loss) for the period | 9904 | -€5,259 | -€12,050 | -€6,791 | -129% |
| Transfer to tax-exempt reserves | 689 | - | €750,000 | +€750,000 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,259 | -€762,050 | -€756,791 | -14,390% |
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 24 October 2026 via checked.be.