PPMG: 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.
PPMG
Largest movements
- Tangible fixed assets +€6,502
up €6,502 (+172%), from €3,782 to €10,284
of which Plant, machinery and equipment: +€4,008
- Receivables within one year +€5,516
up €5,516 (+9.4%), from €58,694 to €64,210
of which Trade receivables: +€5,516
- Cash -€1,413
down €1,413 (-5.0%), from €28,270 to €26,857
mainly Tax, wage and social debts (-€13,662) and Investment in fixed assets (net) (-€9,674)
- Deferred charges and accrued income +€1,115
up €1,115 (+164%), from €679 to €1,795
- Profit (loss) carried forward +€25,382
up €25,382 (+37.6%), from €67,443 to €92,825
- Tax, wage and social debts -€13,662
down €13,662 (-65.1%), from €20,982 to €7,320
- Gross operating margin -€50,033
down €50,033 (-57.8%), from €86,593 to €36,560
- Taxes -€10,225
down €10,225 (-58.3%), from €17,545 to €7,320
- Depreciation +€2,465
up €2,465 (+349%), from €707 to €3,172
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 | €91,426 | €103,145 | +€11,720 | +12.8% |
| Fixed assets | 21/28 | €3,782 | €10,284 | +€6,502 | +172% |
| Tangible fixed assets | 22/27 | €3,782 | €10,284 | +€6,502 | +172% |
| Plant, machinery and equipment | 23 | - | €4,008 | +€4,008 | |
| Furniture and vehicles | 24 | €3,782 | €6,275 | +€2,493 | +65.9% |
| Current assets | 29/58 | €87,644 | €92,862 | +€5,218 | +6.0% |
| Amounts receivable within one year | 40/41 | €58,694 | €64,210 | +€5,516 | +9.4% |
| Trade receivables | 40 | €2,694 | €8,210 | +€5,516 | +205% |
| Other amounts receivable | 41 | €56,000 | €56,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €28,270 | €26,857 | -€1,413 | -5.0% |
| Deferred charges and accrued income | 490/1 | €679 | €1,795 | +€1,115 | +164% |
| Total equity and liabilities | 10/49 | €91,426 | €103,145 | +€11,720 | +12.8% |
| Equity | 10/15 | €70,443 | €95,825 | +€25,382 | +36.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,443 | €92,825 | +€25,382 | +37.6% |
| Amounts payable | 17/49 | €20,982 | €7,320 | -€13,662 | -65.1% |
| Amounts payable within one year | 42/48 | €20,982 | €7,320 | -€13,662 | -65.1% |
| Taxes, remuneration and social security | 45 | €20,982 | €7,320 | -€13,662 | -65.1% |
| Taxes | 450/3 | €20,982 | €7,320 | -€13,662 | -65.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €707 | €3,172 | +€2,465 | +349% |
| Other operating charges | 640/8 | €675 | €446 | -€229 | -34.0% |
| Gross operating margin | 9900 | €86,593 | €36,560 | -€50,033 | -57.8% |
| Operating profit (loss) | 9901 | €85,212 | €32,942 | -€52,269 | -61.3% |
| Financial charges | 65/66B | €223 | €241 | +€17 | +7.8% |
| Recurring financial charges | 65 | €223 | €241 | +€17 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €84,988 | €32,702 | -€52,287 | -61.5% |
| Income taxes | 67/77 | €17,545 | €7,320 | -€10,225 | -58.3% |
| Profit (loss) for the period | 9904 | €67,443 | €25,382 | -€42,062 | -62.4% |
| Profit (loss) for the period to be appropriated | 9905 | €67,443 | €25,382 | -€42,062 | -62.4% |
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 14 October 2026 via checked.be.