PPD: what changed
PPD
Largest movements
- Current investments -€26,752
no longer reported in 2025 (was €26,752)
- Cash -€8,184
down €8,184 (-37.5%), from €21,834 to €13,650
mainly Contributions, distributions and other (-€17,337) and Other debts (-€16,153)
- Receivables within one year -€4,241
down €4,241 (-20.7%), from €20,461 to €16,220
of which Trade receivables: -€5,300
- Tangible fixed assets -€3,952
down €3,952 (-66.7%), from €5,928 to €1,976
- Reserves -€17,337
down €17,337 (-84.0%), from €20,633 to €3,296
- Other debts -€16,153
down €16,153 (-47.4%), from €34,062 to €17,909
- Profit (loss) carried forward -€6,773
down €6,773, from €1,358 to -€5,415
- Current portion of long-term debt -€2,377
down €2,377 (-57.5%), from €4,136 to €1,760
- Tax, wage and social debts +€1,938
up €1,938 (+206%), from €942 to €2,880
of which Remuneration and social security: +€1,925
- Gross operating margin -€29,968
down €29,968 (-43.3%), from €69,195 to €39,227
- Staff costs -€16,862
down €16,862 (-29.3%), from €57,608 to €40,747
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €86,216 | €43,967 | -€42,249 | -49.0% |
| Fixed assets | 21/28 | €5,928 | €1,976 | -€3,952 | -66.7% |
| Tangible fixed assets | 22/27 | €5,928 | €1,976 | -€3,952 | -66.7% |
| Leasing and similar rights | 25 | €5,928 | €1,976 | -€3,952 | -66.7% |
| Current assets | 29/58 | €80,288 | €41,991 | -€38,297 | -47.7% |
| Stocks and contracts in progress | 3 | €9,000 | €9,084 | +€84 | +0.9% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Contracts in progress | 37 | €7,000 | €7,084 | +€84 | +1.2% |
| Amounts receivable within one year | 40/41 | €20,461 | €16,220 | -€4,241 | -20.7% |
| Trade receivables | 40 | €17,855 | €12,555 | -€5,300 | -29.7% |
| Other amounts receivable | 41 | €2,606 | €3,665 | +€1,059 | +40.6% |
| Current investments | 50/53 | €26,752 | - | -€26,752 | |
| Cash at bank and in hand | 54/58 | €21,834 | €13,650 | -€8,184 | -37.5% |
| Deferred charges and accrued income | 490/1 | €2,241 | €3,037 | +€796 | +35.5% |
| Total equity and liabilities | 10/49 | €86,216 | €43,967 | -€42,249 | -49.0% |
| Equity | 10/15 | €40,591 | €16,481 | -€24,110 | -59.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,633 | €3,296 | -€17,337 | -84.0% |
| Distributable reserves | 133 | €20,633 | €3,296 | -€17,337 | -84.0% |
| Profit (loss) carried forward | 14 | €1,358 | -€5,415 | -€6,773 | |
| Amounts payable | 17/49 | €45,626 | €27,486 | -€18,140 | -39.8% |
| Amounts payable after more than one year | 17 | €1,760 | - | -€1,760 | |
| Financial debts | 170/4 | €1,760 | - | -€1,760 | |
| Amounts payable within one year | 42/48 | €43,866 | €27,486 | -€16,380 | -37.3% |
| Current portion of amounts payable after more than one year | 42 | €4,136 | €1,760 | -€2,377 | -57.5% |
| Trade debts | 44 | €4,726 | €4,938 | +€212 | +4.5% |
| Suppliers | 440/4 | €4,726 | €4,938 | +€212 | +4.5% |
| Taxes, remuneration and social security | 45 | €942 | €2,880 | +€1,938 | +206% |
| Taxes | 450/3 | €942 | €955 | +€13 | +1.4% |
| Remuneration and social security | 454/9 | - | €1,925 | +€1,925 | |
| Other amounts payable | 47/48 | €34,062 | €17,909 | -€16,153 | -47.4% |
| Remuneration, social security and pensions | 62 | €57,608 | €40,747 | -€16,862 | -29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,952 | €3,952 | = | 0.0% |
| Other operating charges | 640/8 | €1,042 | €897 | -€145 | -13.9% |
| Gross operating margin | 9900 | €69,195 | €39,227 | -€29,968 | -43.3% |
| Operating profit (loss) | 9901 | €6,592 | -€6,369 | -€12,961 | |
| Financial income | 75/76B | €0 | €16 | +€16 | +161,400% |
| Recurring financial income | 75 | €0 | €16 | +€16 | +161,400% |
| Financial charges | 65/66B | €473 | €420 | -€54 | -11.3% |
| Recurring financial charges | 65 | €473 | €420 | -€54 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €6,119 | -€6,773 | -€12,892 | |
| Profit (loss) for the period | 9904 | €6,119 | -€6,773 | -€12,892 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,119 | -€6,773 | -€12,892 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.