PUBLI-FDM: 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.
PUBLI-FDM
Largest movements
- Tangible fixed assets +€160,229
up €160,229 (+15.3%), from €1.0m to €1.2m
of which Leasing and similar rights: +€201,607
- Cash -€114,073
down €114,073 (-31.2%), from €365,366 to €251,293
mainly Investment in fixed assets (net) (-€411,158) and Trade debts (-€217,852)
- Receivables within one year -€101,179
down €101,179 (-7.4%), from €1.4m to €1.3m
of which Other amounts receivable: -€229,397
- Trade debts -€217,852
down €217,852 (-24.6%), from €886,147 to €668,296
- Profit (loss) carried forward -€134,190
down €134,190, from €68,515 to -€65,676
- Accrued charges and deferred income +€124,623
up €124,623 (+410.5%), from €30,359 to €154,982
- Debts after one year +€119,426
up €119,426 (+11.8%), from €1.0m to €1.1m
- Tax, wage and social debts +€63,600
up €63,600 (+20.5%), from €309,848 to €373,449
of which Remuneration and social security: +€57,278
- Staff costs +€262,691
up €262,691 (+16.7%), from €1.6m to €1.8m
- Gross operating margin +€92,350
up €92,350 (+4.7%), from €2.0m to €2.1m
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 | €3,760,909 | €3,692,869 | -€68,040 | -1.8% |
| Fixed assets | 21/28 | €1,099,373 | €1,255,751 | +€156,379 | +14.2% |
| Intangible fixed assets | 21 | €46,921 | €43,071 | -€3,850 | -8.2% |
| Tangible fixed assets | 22/27 | €1,047,752 | €1,207,980 | +€160,229 | +15.3% |
| Plant, machinery and equipment | 23 | €114,561 | €89,391 | -€25,170 | -22.0% |
| Furniture and vehicles | 24 | €44,073 | €34,532 | -€9,541 | -21.6% |
| Leasing and similar rights | 25 | €837,615 | €1,039,221 | +€201,607 | +24.1% |
| Other tangible fixed assets | 26 | €51,503 | €44,836 | -€6,667 | -12.9% |
| Financial fixed assets | 28 | €4,700 | €4,700 | = | 0.0% |
| Current assets | 29/58 | €2,661,537 | €2,437,118 | -€224,419 | -8.4% |
| Stocks and contracts in progress | 3 | €929,517 | €911,611 | -€17,906 | -1.9% |
| Stocks | 30/36 | €929,517 | €911,611 | -€17,906 | -1.9% |
| Amounts receivable within one year | 40/41 | €1,366,654 | €1,265,475 | -€101,179 | -7.4% |
| Trade receivables | 40 | €1,129,874 | €1,258,091 | +€128,218 | +11.3% |
| Other amounts receivable | 41 | €236,781 | €7,384 | -€229,397 | -96.9% |
| Cash at bank and in hand | 54/58 | €365,366 | €251,293 | -€114,073 | -31.2% |
| Deferred charges and accrued income | 490/1 | €0 | €8,739 | +€8,739 | |
| Total equity and liabilities | 10/49 | €3,760,909 | €3,692,869 | -€68,040 | -1.8% |
| Equity | 10/15 | €381,587 | €247,397 | -€134,190 | -35.2% |
| Contributions | 10/11 | €17,404 | €17,404 | = | 0.0% |
| Reserves | 13 | €295,668 | €295,668 | = | 0.0% |
| Distributable reserves | 133 | €295,668 | €295,668 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,515 | -€65,676 | -€134,190 | |
| Amounts payable | 17/49 | €3,379,322 | €3,445,472 | +€66,150 | +2.0% |
| Amounts payable after more than one year | 17 | €1,010,512 | €1,129,938 | +€119,426 | +11.8% |
| Financial debts | 170/4 | €1,010,512 | €1,129,938 | +€119,426 | +11.8% |
| Amounts payable within one year | 42/48 | €2,338,451 | €2,160,553 | -€177,898 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €220,883 | €238,362 | +€17,478 | +7.9% |
| Financial debts | 43 | €850,500 | €800,000 | -€50,500 | -5.9% |
| Credit institutions | 430/8 | €850,500 | €800,000 | -€50,500 | -5.9% |
| Trade debts | 44 | €886,147 | €668,296 | -€217,852 | -24.6% |
| Suppliers | 440/4 | €886,147 | €668,296 | -€217,852 | -24.6% |
| Taxes, remuneration and social security | 45 | €309,848 | €373,449 | +€63,600 | +20.5% |
| Taxes | 450/3 | €64,569 | €70,891 | +€6,322 | +9.8% |
| Remuneration and social security | 454/9 | €245,280 | €302,558 | +€57,278 | +23.4% |
| Other amounts payable | 47/48 | €71,072 | €80,447 | +€9,375 | +13.2% |
| Accrued charges and deferred income | 492/3 | €30,359 | €154,982 | +€124,623 | +410.5% |
| Remuneration, social security and pensions | 62 | €1,577,175 | €1,839,867 | +€262,691 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268,210 | €254,779 | -€13,431 | -5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €265 | €774 | +€509 | +191.9% |
| Other operating charges | 640/8 | €9,228 | €11,153 | +€1,925 | +20.9% |
| Gross operating margin | 9900 | €1,981,272 | €2,073,623 | +€92,350 | +4.7% |
| Operating profit (loss) | 9901 | €126,393 | -€32,951 | -€159,344 | |
| Financial income | 75/76B | €1,423 | €524 | -€899 | -63.2% |
| Recurring financial income | 75 | €1,423 | €524 | -€899 | -63.2% |
| Financial charges | 65/66B | €100,739 | €101,648 | +€908 | +0.9% |
| Recurring financial charges | 65 | €100,739 | €101,648 | +€908 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €27,077 | -€134,074 | -€161,151 | |
| Income taxes | 67/77 | €0 | €116 | +€116 | |
| Profit (loss) for the period | 9904 | €27,077 | -€134,190 | -€161,268 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,077 | -€134,190 | -€161,268 |
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 8 October 2026 via checked.be.