PPR: 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.
PPR
Largest movements
- Receivables within one year -€65,836
down €65,836 (-36.3%), from €181,485 to €115,650
of which Trade receivables: -€73,449
- Financial fixed assets -€8,250
down €8,250 (-2.9%), from €285,500 to €277,250
- Trade debts -€43,582
down €43,582 (-55.2%), from €78,923 to €35,341
- Debts after one year -€26,207
down €26,207 (-28.6%), from €91,603 to €65,396
- Reserves +€16,568
up €16,568 (+5.4%), from €308,694 to €325,262
- Short-term financial debts -€12,457
down €12,457 (-78.7%), from €15,833 to €3,376
- Tax, wage and social debts -€8,132
down €8,132 (-26.3%), from €30,881 to €22,749
- Gross operating margin -€81,806
down €81,806 (-71.0%), from €115,177 to €33,371
- Taxes -€22,708
down €22,708 (-72.9%), from €31,163 to €8,455
- Depreciation -€1,343
down €1,343 (-84.1%), from €1,597 to €254
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 | €581,642 | €509,254 | -€72,388 | -12.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €398,788 | €390,284 | -€8,504 | -2.1% |
| Tangible fixed assets | 22/27 | €113,288 | €113,034 | -€254 | -0.2% |
| Furniture and vehicles | 24 | €263 | €9 | -€254 | -96.7% |
| Other tangible fixed assets | 26 | €113,025 | €113,025 | = | 0.0% |
| Financial fixed assets | 28 | €285,500 | €277,250 | -€8,250 | -2.9% |
| Current assets | 29/58 | €182,854 | €118,970 | -€63,884 | -34.9% |
| Amounts receivable within one year | 40/41 | €181,485 | €115,650 | -€65,836 | -36.3% |
| Trade receivables | 40 | €179,735 | €106,287 | -€73,449 | -40.9% |
| Other amounts receivable | 41 | €1,750 | €9,363 | +€7,613 | +435.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €963 | €1,299 | +€336 | +34.9% |
| Deferred charges and accrued income | 490/1 | €406 | €2,021 | +€1,615 | +397.3% |
| Total equity and liabilities | 10/49 | €581,642 | €509,254 | -€72,388 | -12.4% |
| Equity | 10/15 | €306,463 | €323,031 | +€16,568 | +5.4% |
| Contributions | 10/11 | €14,467 | €14,467 | = | 0.0% |
| Reserves | 13 | €308,694 | €325,262 | +€16,568 | +5.4% |
| Distributable reserves | 133 | €308,694 | €325,262 | +€16,568 | +5.4% |
| Profit (loss) carried forward | 14 | -€16,698 | -€16,698 | = | 0.0% |
| Amounts payable | 17/49 | €275,179 | €186,222 | -€88,956 | -32.3% |
| Amounts payable after more than one year | 17 | €91,603 | €65,396 | -€26,207 | -28.6% |
| Financial debts | 170/4 | €91,603 | €65,396 | -€26,207 | -28.6% |
| Amounts payable within one year | 42/48 | €183,575 | €120,826 | -€62,749 | -34.2% |
| Current portion of amounts payable after more than one year | 42 | €25,176 | €26,207 | +€1,031 | +4.1% |
| Financial debts | 43 | €15,833 | €3,376 | -€12,457 | -78.7% |
| Credit institutions | 430/8 | €15,833 | €3,376 | -€12,457 | -78.7% |
| Trade debts | 44 | €78,923 | €35,341 | -€43,582 | -55.2% |
| Suppliers | 440/4 | €78,923 | €35,341 | -€43,582 | -55.2% |
| Taxes, remuneration and social security | 45 | €30,881 | €22,749 | -€8,132 | -26.3% |
| Taxes | 450/3 | €30,881 | €22,749 | -€8,132 | -26.3% |
| Other amounts payable | 47/48 | €32,762 | €33,152 | +€390 | +1.2% |
| Non-recurring operating income | 76A | €486 | €21,407 | +€20,921 | +4306.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,597 | €254 | -€1,343 | -84.1% |
| Other operating charges | 640/8 | €685 | €1,808 | +€1,123 | +164.0% |
| Gross operating margin | 9900 | €115,177 | €33,371 | -€81,806 | -71.0% |
| Operating profit (loss) | 9901 | €112,895 | €31,309 | -€81,586 | -72.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,643 | €6,287 | +€643 | +11.4% |
| Recurring financial charges | 65 | €5,643 | €6,287 | +€643 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €107,251 | €25,023 | -€82,229 | -76.7% |
| Income taxes | 67/77 | €31,163 | €8,455 | -€22,708 | -72.9% |
| Profit (loss) for the period | 9904 | €76,088 | €16,568 | -€59,520 | -78.2% |
| Profit (loss) for the period to be appropriated | 9905 | €76,088 | €16,568 | -€59,520 | -78.2% |
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 6 October 2026 via checked.be.