PUBLI TAPTOE: 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 TAPTOE
Largest movements
- Intangible fixed assets -€100,000
down €100,000 (-25.0%), from €399,726 to €299,726
- Receivables within one year -€41,879
down €41,879 (-28.1%), from €149,223 to €107,344
of which Trade receivables: -€41,879
- Cash -€29,440
down €29,440 (-48.6%), from €60,582 to €31,142
mainly Net result for the year (-€139,695) and Trade debts (-€58,844)
- Tangible fixed assets +€14,774
up €14,774 (+19.5%), from €75,600 to €90,374
of which Furniture and vehicles: +€15,001
- Reserves -€128,017
down €128,017 (-73.0%), from €175,476 to €47,459
of which Distributable reserves: -€128,017
- Tax, wage and social debts +€63,991
up €63,991 (+130%), from €49,237 to €113,228
of which Remuneration and social security: +€48,485
- Trade debts -€58,844
down €58,844 (-84.4%), from €69,734 to €10,890
- Other debts -€46,293
down €46,293 (-49.6%), from €93,288 to €46,994
- Debts after one year +€18,793
new in 2025: €18,793
- Gross operating margin -€130,478
down €130,478 (-27.7%), from €471,285 to €340,807
- Staff costs +€36,458
up €36,458 (+11.0%), from €330,549 to €367,007
- Financial income -€8,487
down €8,487 (-74.1%), from €11,453 to €2,966
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 | €686,235 | €530,104 | -€156,131 | -22.8% |
| Fixed assets | 21/28 | €475,826 | €390,600 | -€85,226 | -17.9% |
| Intangible fixed assets | 21 | €399,726 | €299,726 | -€100,000 | -25.0% |
| Tangible fixed assets | 22/27 | €75,600 | €90,374 | +€14,774 | +19.5% |
| Land and buildings | 22 | €29,750 | €29,750 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €598 | +€598 | |
| Furniture and vehicles | 24 | €42,957 | €57,959 | +€15,001 | +34.9% |
| Other tangible fixed assets | 26 | €2,892 | €2,067 | -€825 | -28.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €210,409 | €139,504 | -€70,905 | -33.7% |
| Amounts receivable within one year | 40/41 | €149,223 | €107,344 | -€41,879 | -28.1% |
| Trade receivables | 40 | €149,223 | €107,344 | -€41,879 | -28.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €60,582 | €31,142 | -€29,440 | -48.6% |
| Deferred charges and accrued income | 490/1 | €604 | €1,018 | +€414 | +68.6% |
| Total equity and liabilities | 10/49 | €686,235 | €530,104 | -€156,131 | -22.8% |
| Equity | 10/15 | €471,976 | €332,281 | -€139,695 | -29.6% |
| Contributions | 10/11 | €296,500 | €296,500 | = | 0.0% |
| Capital | 10 | €296,500 | €296,500 | = | 0.0% |
| Issued capital | 100 | €296,500 | €296,500 | = | 0.0% |
| Reserves | 13 | €175,476 | €47,459 | -€128,017 | -73.0% |
| Non-distributable reserves | 130/1 | €19,808 | €19,808 | = | 0.0% |
| Legal reserve | 130 | €19,808 | €19,808 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,651 | €27,651 | = | 0.0% |
| Distributable reserves | 133 | €128,017 | €0 | -€128,017 | -100% |
| Profit (loss) carried forward | 14 | - | -€11,678 | -€11,678 | |
| Amounts payable | 17/49 | €214,259 | €197,823 | -€16,435 | -7.7% |
| Amounts payable after more than one year | 17 | - | €18,793 | +€18,793 | |
| Financial debts | 170/4 | - | €18,793 | +€18,793 | |
| Amounts payable within one year | 42/48 | €212,259 | €177,031 | -€35,228 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | - | €5,918 | +€5,918 | |
| Trade debts | 44 | €69,734 | €10,890 | -€58,844 | -84.4% |
| Suppliers | 440/4 | €69,734 | €10,890 | -€58,844 | -84.4% |
| Taxes, remuneration and social security | 45 | €49,237 | €113,228 | +€63,991 | +130% |
| Taxes | 450/3 | €14,106 | €29,612 | +€15,506 | +110% |
| Remuneration and social security | 454/9 | €35,131 | €83,616 | +€48,485 | +138% |
| Other amounts payable | 47/48 | €93,288 | €46,994 | -€46,293 | -49.6% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €330,549 | €367,007 | +€36,458 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,701 | €112,132 | +€2,431 | +2.2% |
| Other operating charges | 640/8 | €3,040 | €2,074 | -€966 | -31.8% |
| Gross operating margin | 9900 | €471,285 | €340,807 | -€130,478 | -27.7% |
| Operating profit (loss) | 9901 | €27,995 | -€140,406 | -€168,401 | |
| Financial income | 75/76B | €11,453 | €2,966 | -€8,487 | -74.1% |
| Recurring financial income | 75 | €11,453 | €2,966 | -€8,487 | -74.1% |
| Financial charges | 65/66B | €786 | €1,642 | +€856 | +109% |
| Recurring financial charges | 65 | €786 | €1,642 | +€856 | +109% |
| Profit (loss) for the period before taxes | 9903 | €38,663 | -€139,082 | -€177,745 | |
| Income taxes | 67/77 | €653 | €614 | -€40 | -6.1% |
| Profit (loss) for the period | 9904 | €38,009 | -€139,695 | -€177,705 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,009 | -€139,695 | -€177,705 |
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 22 October 2026 via checked.be.