PPC Pools: 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.
PPC Pools
Largest movements
- Tangible fixed assets -€128,032
down €128,032 (-29.0%), from €441,021 to €312,989
of which Leasing and similar rights: -€114,791
- Cash -€54,936
down €54,936 (-16.3%), from €336,187 to €281,251
mainly Contributions, distributions and other (-€463,000) and Debts after one year (-€95,035)
- Stocks and contracts +€41,680
up €41,680 (+21.4%), from €194,645 to €236,325
- Receivables within one year +€19,861
up €19,861 (+51.2%), from €38,817 to €58,678
of which Trade receivables: +€27,408
- Reserves -€162,618
down €162,618 (-27.8%), from €585,876 to €423,258
- Other debts +€133,200
new in 2025: €133,200
- Debts after one year -€95,035
down €95,035 (-47.6%), from €199,604 to €104,568
- Trade debts +€26,528
up €26,528 (+49.8%), from €53,228 to €79,755
- Current portion of long-term debt -€23,431
down €23,431 (-23.2%), from €101,104 to €77,673
- Gross operating margin +€235,021
up €235,021 (+38.3%), from €613,424 to €848,444
- Staff costs +€160,652
up €160,652 (+100%), from €160,407 to €321,059
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 | €1,044,088 | €937,959 | -€106,130 | -10.2% |
| Fixed assets | 21/28 | €461,861 | €341,631 | -€120,230 | -26.0% |
| Intangible fixed assets | 21 | €11,811 | €19,613 | +€7,801 | +66.0% |
| Tangible fixed assets | 22/27 | €441,021 | €312,989 | -€128,032 | -29.0% |
| Plant, machinery and equipment | 23 | €108,312 | €93,271 | -€15,041 | -13.9% |
| Furniture and vehicles | 24 | €5,418 | €5,564 | +€146 | +2.7% |
| Leasing and similar rights | 25 | €313,390 | €198,599 | -€114,791 | -36.6% |
| Other tangible fixed assets | 26 | €13,900 | €15,555 | +€1,655 | +11.9% |
| Financial fixed assets | 28 | €9,029 | €9,029 | = | 0.0% |
| Current assets | 29/58 | €582,227 | €596,328 | +€14,100 | +2.4% |
| Stocks and contracts in progress | 3 | €194,645 | €236,325 | +€41,680 | +21.4% |
| Stocks | 30/36 | €194,645 | €236,325 | +€41,680 | +21.4% |
| Amounts receivable within one year | 40/41 | €38,817 | €58,678 | +€19,861 | +51.2% |
| Trade receivables | 40 | €27,877 | €55,284 | +€27,408 | +98.3% |
| Other amounts receivable | 41 | €10,940 | €3,393 | -€7,547 | -69.0% |
| Cash at bank and in hand | 54/58 | €336,187 | €281,251 | -€54,936 | -16.3% |
| Deferred charges and accrued income | 490/1 | €12,578 | €20,074 | +€7,496 | +59.6% |
| Total equity and liabilities | 10/49 | €1,044,088 | €937,959 | -€106,130 | -10.2% |
| Equity | 10/15 | €625,876 | €463,258 | -€162,618 | -26.0% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €585,876 | €423,258 | -€162,618 | -27.8% |
| Distributable reserves | 133 | €585,876 | €423,258 | -€162,618 | -27.8% |
| Amounts payable | 17/49 | €418,213 | €474,701 | +€56,489 | +13.5% |
| Amounts payable after more than one year | 17 | €199,604 | €104,568 | -€95,035 | -47.6% |
| Financial debts | 170/4 | €199,604 | €104,568 | -€95,035 | -47.6% |
| Amounts payable within one year | 42/48 | €218,609 | €369,758 | +€151,149 | +69.1% |
| Current portion of amounts payable after more than one year | 42 | €101,104 | €77,673 | -€23,431 | -23.2% |
| Trade debts | 44 | €53,228 | €79,755 | +€26,528 | +49.8% |
| Suppliers | 440/4 | €53,228 | €79,755 | +€26,528 | +49.8% |
| Advances received on contracts in progress | 46 | €23,186 | €28,772 | +€5,587 | +24.1% |
| Taxes, remuneration and social security | 45 | €41,092 | €50,357 | +€9,265 | +22.5% |
| Taxes | 450/3 | €20,077 | €8,105 | -€11,972 | -59.6% |
| Remuneration and social security | 454/9 | €21,014 | €42,252 | +€21,237 | +101% |
| Other amounts payable | 47/48 | - | €133,200 | +€133,200 | |
| Accrued charges and deferred income | 492/3 | - | €375 | +€375 | |
| Non-recurring operating income | 76A | - | €9,482 | +€9,482 | |
| Remuneration, social security and pensions | 62 | €160,407 | €321,059 | +€160,652 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,721 | €141,190 | -€2,531 | -1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,792 | - | -€2,792 | |
| Other operating charges | 640/8 | €940 | €1,778 | +€839 | +89.2% |
| Gross operating margin | 9900 | €613,424 | €848,444 | +€235,021 | +38.3% |
| Operating profit (loss) | 9901 | €305,563 | €384,418 | +€78,854 | +25.8% |
| Financial income | 75/76B | €2 | €676 | +€675 | +34,951% |
| Recurring financial income | 75 | €2 | €676 | +€675 | +34,951% |
| Financial charges | 65/66B | €9,296 | €9,820 | +€524 | +5.6% |
| Recurring financial charges | 65 | €9,296 | €9,820 | +€524 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €296,270 | €375,274 | +€79,005 | +26.7% |
| Income taxes | 67/77 | €69,060 | €74,893 | +€5,833 | +8.4% |
| Profit (loss) for the period | 9904 | €227,210 | €300,382 | +€73,172 | +32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €227,210 | €300,382 | +€73,172 | +32.2% |
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.