PPP&P: what changed
Two fiscal 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&P
Largest movements
- Cash +€171,347
up €171,347 (+62.5%), from €274,010 to €445,357
mainly Net result for the year (+€661,912) and Other debts (+€476,740)
- Other debts +€476,740
new in 2025: €476,740
- Reserves -€150,000
down €150,000 (-43.5%), from €344,500 to €194,500
- Profit (loss) carried forward -€143,328
down €143,328 (-100.0%), from €143,328 to €0
- Tax, wage and social debts +€47,392
up €47,392 (+138.4%), from €34,245 to €81,637
- Debts after one year -€38,096
down €38,096 (-15.6%), from €244,495 to €206,399
- Gross operating margin +€597,123
up €597,123 (+191.9%), from €311,090 to €908,213
- Taxes +€179,004
up €179,004 (+382.9%), from €46,752 to €225,756
- Write-downs -€42,500
down €42,500 (-100.0%), from €42,500 to €0
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 | €845,941 | €1,017,913 | +€171,972 | +20.3% |
| Fixed assets | 21/28 | €458,149 | €450,191 | -€7,958 | -1.7% |
| Tangible fixed assets | 22/27 | €458,149 | €450,191 | -€7,958 | -1.7% |
| Land and buildings | 22 | €453,465 | €447,814 | -€5,651 | -1.2% |
| Plant, machinery and equipment | 23 | €461 | €247 | -€215 | -46.5% |
| Furniture and vehicles | 24 | €4,222 | €2,130 | -€2,092 | -49.6% |
| Current assets | 29/58 | €387,793 | €567,722 | +€179,930 | +46.4% |
| Amounts receivable within one year | 40/41 | €112,279 | €121,638 | +€9,359 | +8.3% |
| Trade receivables | 40 | €81,392 | €74,266 | -€7,126 | -8.8% |
| Other amounts receivable | 41 | €30,887 | €47,372 | +€16,484 | +53.4% |
| Cash at bank and in hand | 54/58 | €274,010 | €445,357 | +€171,347 | +62.5% |
| Deferred charges and accrued income | 490/1 | €1,504 | €727 | -€776 | -51.6% |
| Total equity and liabilities | 10/49 | €845,941 | €1,017,913 | +€171,972 | +20.3% |
| Equity | 10/15 | €494,028 | €213,050 | -€280,978 | -56.9% |
| Contributions | 10/11 | €6,200 | €18,550 | +€12,350 | +199.2% |
| Reserves | 13 | €344,500 | €194,500 | -€150,000 | -43.5% |
| Distributable reserves | 133 | €344,500 | €194,500 | -€150,000 | -43.5% |
| Profit (loss) carried forward | 14 | €143,328 | €0 | -€143,328 | -100.0% |
| Amounts payable | 17/49 | €351,914 | €804,863 | +€452,949 | +128.7% |
| Amounts payable after more than one year | 17 | €244,495 | €206,399 | -€38,096 | -15.6% |
| Financial debts | 170/4 | €244,495 | €206,399 | -€38,096 | -15.6% |
| Amounts payable within one year | 42/48 | €107,418 | €598,464 | +€491,046 | +457.1% |
| Current portion of amounts payable after more than one year | 42 | €37,716 | €38,096 | +€380 | +1.0% |
| Trade debts | 44 | €35,457 | €1,991 | -€33,466 | -94.4% |
| Suppliers | 440/4 | €35,457 | €1,991 | -€33,466 | -94.4% |
| Taxes, remuneration and social security | 45 | €34,245 | €81,637 | +€47,392 | +138.4% |
| Taxes | 450/3 | €34,245 | €81,637 | +€47,392 | +138.4% |
| Other amounts payable | 47/48 | - | €476,740 | +€476,740 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,999 | €12,958 | -€41 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €42,500 | €0 | -€42,500 | -100.0% |
| Other operating charges | 640/8 | €3,690 | €1,605 | -€2,085 | -56.5% |
| Gross operating margin | 9900 | €311,090 | €908,213 | +€597,123 | +191.9% |
| Operating profit (loss) | 9901 | €251,901 | €893,650 | +€641,749 | +254.8% |
| Financial income | 75/76B | €782 | €1,982 | +€1,200 | +153.5% |
| Recurring financial income | 75 | €782 | €1,982 | +€1,200 | +153.5% |
| Financial charges | 65/66B | €7,921 | €7,963 | +€42 | +0.5% |
| Recurring financial charges | 65 | €7,921 | €7,963 | +€42 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €244,762 | €887,668 | +€642,906 | +262.7% |
| Income taxes | 67/77 | €46,752 | €225,756 | +€179,004 | +382.9% |
| Profit (loss) for the period | 9904 | €198,010 | €661,912 | +€463,902 | +234.3% |
| Profit (loss) for the period to be appropriated | 9905 | €198,010 | €661,912 | +€463,902 | +234.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.