PUBLI CARLO: 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 CARLO
Largest movements
- Cash +€11,519
up €11,519 (+18.9%), from €61,033 to €72,552
mainly Net result for the year (+€29,349) and Depreciation (+€3,417)
- Receivables within one year +€6,965
up €6,965 (+8.2%), from €85,094 to €92,059
of which Trade receivables: +€5,987
- Deferred charges and accrued income +€3,164
up €3,164 (+187%), from €1,688 to €4,853
- Reserves +€29,000
up €29,000 (+32.0%), from €90,655 to €119,655
- Tax, wage and social debts -€8,440
down €8,440 (-50.3%), from €16,782 to €8,342
- Trade debts +€1,884
up €1,884 (+21.4%), from €8,809 to €10,693
- Gross operating margin -€38,882
down €38,882 (-44.6%), from €87,233 to €48,352
- Taxes -€7,157
down €7,157 (-35.9%), from €19,920 to €12,764
- Depreciation -€6,871
down €6,871 (-66.8%), from €10,288 to €3,417
- Financial charges +€1,547
up €1,547 (+906%), from €171 to €1,718
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 | €161,304 | €184,097 | +€22,793 | +14.1% |
| Fixed assets | 21/28 | €13,488 | €14,634 | +€1,145 | +8.5% |
| Tangible fixed assets | 22/27 | €13,488 | €14,634 | +€1,145 | +8.5% |
| Plant, machinery and equipment | 23 | €12,510 | €10,653 | -€1,857 | -14.8% |
| Furniture and vehicles | 24 | €978 | €3,135 | +€2,157 | +221% |
| Other tangible fixed assets | 26 | - | €846 | +€846 | |
| Current assets | 29/58 | €147,815 | €169,463 | +€21,648 | +14.6% |
| Amounts receivable within one year | 40/41 | €85,094 | €92,059 | +€6,965 | +8.2% |
| Trade receivables | 40 | €64,942 | €70,930 | +€5,987 | +9.2% |
| Other amounts receivable | 41 | €20,151 | €21,129 | +€977 | +4.9% |
| Cash at bank and in hand | 54/58 | €61,033 | €72,552 | +€11,519 | +18.9% |
| Deferred charges and accrued income | 490/1 | €1,688 | €4,853 | +€3,164 | +187% |
| Total equity and liabilities | 10/49 | €161,304 | €184,097 | +€22,793 | +14.1% |
| Equity | 10/15 | €135,713 | €165,062 | +€29,349 | +21.6% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €90,655 | €119,655 | +€29,000 | +32.0% |
| Distributable reserves | 133 | €90,655 | €119,655 | +€29,000 | +32.0% |
| Profit (loss) carried forward | 14 | €38,558 | €38,907 | +€349 | +0.9% |
| Amounts payable | 17/49 | €25,591 | €19,035 | -€6,556 | -25.6% |
| Amounts payable within one year | 42/48 | €25,591 | €19,035 | -€6,556 | -25.6% |
| Trade debts | 44 | €8,809 | €10,693 | +€1,884 | +21.4% |
| Suppliers | 440/4 | €8,809 | €10,693 | +€1,884 | +21.4% |
| Taxes, remuneration and social security | 45 | €16,782 | €8,342 | -€8,440 | -50.3% |
| Taxes | 450/3 | €16,782 | €8,342 | -€8,440 | -50.3% |
| Non-recurring operating income | 76A | - | €13,898 | +€13,898 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,288 | €3,417 | -€6,871 | -66.8% |
| Other operating charges | 640/8 | €1,797 | €2,190 | +€393 | +21.8% |
| Gross operating margin | 9900 | €87,233 | €48,352 | -€38,882 | -44.6% |
| Operating profit (loss) | 9901 | €75,148 | €42,744 | -€32,404 | -43.1% |
| Financial income | 75/76B | €469 | €1,087 | +€617 | +131% |
| Recurring financial income | 75 | €469 | €1,087 | +€617 | +131% |
| Financial charges | 65/66B | €171 | €1,718 | +€1,547 | +906% |
| Recurring financial charges | 65 | €171 | €1,718 | +€1,547 | +906% |
| Profit (loss) for the period before taxes | 9903 | €75,447 | €42,113 | -€33,334 | -44.2% |
| Income taxes | 67/77 | €19,920 | €12,764 | -€7,157 | -35.9% |
| Profit (loss) for the period | 9904 | €55,526 | €29,349 | -€26,177 | -47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,526 | €29,349 | -€26,177 | -47.1% |
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 24 October 2026 via checked.be.