PUBLI-ART: 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.
PUBLI-ART
Largest movements
- Cash -€11,768
down €11,768 (-33.1%), from €35,562 to €23,794
mainly Investment in fixed assets (net) (-€28,000) and Debts after one year (-€25,107)
- Tangible fixed assets -€8,289
down €8,289 (-9.0%), from €92,252 to €83,962
of which Land and buildings: -€16,000
- Receivables within one year -€5,376
down €5,376 (-8.4%), from €63,847 to €58,471
of which Trade receivables: -€26,225
- Deferred charges and accrued income +€5,088
up €5,088 (+267%), from €1,907 to €6,995
- Debts after one year -€25,107
down €25,107 (-38.7%), from €64,888 to €39,781
- Accrued charges and deferred income -€8,354
down €8,354 (-61.3%), from €13,622 to €5,267
- Reserves +€8,074
up €8,074 (+11.0%), from €73,611 to €81,685
of which Distributable reserves: +€8,074
- Trade debts +€4,019
up €4,019 (+89.6%), from €4,487 to €8,506
- Gross operating margin -€22,180
down €22,180 (-31.6%), from €70,223 to €48,043
- Depreciation +€6,348
up €6,348 (+21.2%), from €29,941 to €36,289
- Financial income +€3,641
up €3,641 (+222%), from €1,641 to €5,282
of which Non-recurring financial income: +€3,250
- Taxes -€2,044
down €2,044 (-59.9%), from €3,414 to €1,370
- Other operating charges -€991
down €991 (-19.7%), from €5,023 to €4,032
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 | €199,286 | €178,941 | -€20,345 | -10.2% |
| Fixed assets | 21/28 | €97,970 | €89,680 | -€8,289 | -8.5% |
| Tangible fixed assets | 22/27 | €92,252 | €83,962 | -€8,289 | -9.0% |
| Land and buildings | 22 | €49,300 | €33,300 | -€16,000 | -32.5% |
| Plant, machinery and equipment | 23 | €7,818 | €4,933 | -€2,885 | -36.9% |
| Furniture and vehicles | 24 | €35,134 | €45,730 | +€10,596 | +30.2% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €5,718 | €5,718 | = | 0.0% |
| Current assets | 29/58 | €101,316 | €89,260 | -€12,056 | -11.9% |
| Amounts receivable within one year | 40/41 | €63,847 | €58,471 | -€5,376 | -8.4% |
| Trade receivables | 40 | €35,512 | €9,288 | -€26,225 | -73.8% |
| Other amounts receivable | 41 | €28,335 | €49,183 | +€20,849 | +73.6% |
| Cash at bank and in hand | 54/58 | €35,562 | €23,794 | -€11,768 | -33.1% |
| Deferred charges and accrued income | 490/1 | €1,907 | €6,995 | +€5,088 | +267% |
| Total equity and liabilities | 10/49 | €199,286 | €178,941 | -€20,345 | -10.2% |
| Equity | 10/15 | €79,811 | €87,885 | +€8,074 | +10.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €73,611 | €81,685 | +€8,074 | +11.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €71,751 | €79,825 | +€8,074 | +11.3% |
| Amounts payable | 17/49 | €119,474 | €91,055 | -€28,419 | -23.8% |
| Amounts payable after more than one year | 17 | €64,888 | €39,781 | -€25,107 | -38.7% |
| Financial debts | 170/4 | €64,888 | €39,781 | -€25,107 | -38.7% |
| Amounts payable within one year | 42/48 | €40,964 | €46,007 | +€5,043 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €24,199 | €25,107 | +€908 | +3.8% |
| Trade debts | 44 | €4,487 | €8,506 | +€4,019 | +89.6% |
| Suppliers | 440/4 | €4,487 | €8,506 | +€4,019 | +89.6% |
| Taxes, remuneration and social security | 45 | €12,278 | €12,394 | +€116 | +0.9% |
| Taxes | 450/3 | €12,278 | €12,394 | +€116 | +0.9% |
| Accrued charges and deferred income | 492/3 | €13,622 | €5,267 | -€8,354 | -61.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,941 | €36,289 | +€6,348 | +21.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €280 | +€280 | |
| Other operating charges | 640/8 | €5,023 | €4,032 | -€991 | -19.7% |
| Non-recurring operating charges | 66A | €1,847 | - | -€1,847 | |
| Gross operating margin | 9900 | €70,223 | €48,043 | -€22,180 | -31.6% |
| Operating profit (loss) | 9901 | €33,412 | €7,442 | -€25,970 | -77.7% |
| Financial income | 75/76B | €1,641 | €5,282 | +€3,641 | +222% |
| Recurring financial income | 75 | €1,641 | €2,031 | +€390 | +23.8% |
| Non-recurring financial income | 76B | - | €3,250 | +€3,250 | |
| Financial charges | 65/66B | €3,296 | €3,280 | -€16 | -0.5% |
| Recurring financial charges | 65 | €4,064 | €3,280 | -€784 | -19.3% |
| Non-recurring financial charges | 66B | -€768 | - | +€768 | |
| Profit (loss) for the period before taxes | 9903 | €31,757 | €9,444 | -€22,314 | -70.3% |
| Income taxes | 67/77 | €3,414 | €1,370 | -€2,044 | -59.9% |
| Profit (loss) for the period | 9904 | €28,343 | €8,074 | -€20,270 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,343 | €8,074 | -€20,270 | -71.5% |
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 23 October 2026 via checked.be.