PPP DEVELOPMENT: 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.
PPP DEVELOPMENT
Largest movements
- Stocks and contracts +€135,121
up €135,121 (+6.4%), from €2.1m to €2.2m
- Other debts +€466,000
up €466,000 (+48.4%), from €963,430 to €1.4m
- Short-term financial debts -€262,851
down €262,851 (-21.1%), from €1.2m to €985,000
- Trade debts -€53,192
down €53,192 (-84.4%), from €63,057 to €9,865
- Profit (loss) carried forward -€49,534
down €49,534 (-130.6%), from -€37,925 to -€87,459
- Gross operating margin -€76,733
down €76,733 (-49.7%), from €154,493 to €77,760
- Financial charges -€30,783
down €30,783 (-20.7%), from €148,982 to €118,200
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 | €2,415,438 | €2,541,230 | +€125,791 | +5.2% |
| Fixed assets | 21/28 | €17,000 | €17,000 | = | 0.0% |
| Financial fixed assets | 28 | €17,000 | €17,000 | = | 0.0% |
| Current assets | 29/58 | €2,398,438 | €2,524,230 | +€125,791 | +5.2% |
| Stocks and contracts in progress | 3 | €2,107,676 | €2,242,797 | +€135,121 | +6.4% |
| Contracts in progress | 37 | €2,107,676 | €2,242,797 | +€135,121 | +6.4% |
| Amounts receivable within one year | 40/41 | €287,112 | €276,683 | -€10,429 | -3.6% |
| Other amounts receivable | 41 | €287,112 | €276,683 | -€10,429 | -3.6% |
| Cash at bank and in hand | 54/58 | €641 | €1,593 | +€952 | +148.4% |
| Deferred charges and accrued income | 490/1 | €3,009 | €3,156 | +€147 | +4.9% |
| Total equity and liabilities | 10/49 | €2,415,438 | €2,541,230 | +€125,791 | +5.2% |
| Equity | 10/15 | €62,075 | €12,541 | -€49,534 | -79.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,925 | -€87,459 | -€49,534 | -130.6% |
| Amounts payable | 17/49 | €2,353,363 | €2,528,688 | +€175,325 | +7.4% |
| Amounts payable within one year | 42/48 | €2,274,338 | €2,424,295 | +€149,957 | +6.6% |
| Financial debts | 43 | €1,247,851 | €985,000 | -€262,851 | -21.1% |
| Credit institutions | 430/8 | €1,247,851 | €985,000 | -€262,851 | -21.1% |
| Trade debts | 44 | €63,057 | €9,865 | -€53,192 | -84.4% |
| Suppliers | 440/4 | €63,057 | €9,865 | -€53,192 | -84.4% |
| Other amounts payable | 47/48 | €963,430 | €1,429,430 | +€466,000 | +48.4% |
| Accrued charges and deferred income | 492/3 | €79,025 | €104,393 | +€25,369 | +32.1% |
| Other operating charges | 640/8 | €8,817 | €9,094 | +€277 | +3.1% |
| Gross operating margin | 9900 | €154,493 | €77,760 | -€76,733 | -49.7% |
| Operating profit (loss) | 9901 | €145,676 | €68,666 | -€77,010 | -52.9% |
| Financial charges | 65/66B | €148,982 | €118,200 | -€30,783 | -20.7% |
| Recurring financial charges | 65 | €148,982 | €118,200 | -€30,783 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,307 | -€49,534 | -€46,227 | -1398.0% |
| Profit (loss) for the period | 9904 | -€3,307 | -€49,534 | -€46,227 | -1398.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,307 | -€49,534 | -€46,227 | -1398.0% |
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 9 October 2026 via checked.be.