PUBLICA: 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.
PUBLICA
Largest movements
- Cash +€29,716
up €29,716 (+14.8%), from €200,265 to €229,980
mainly Other debts (+€150,000) and Trade debts (+€34,005)
- Tangible fixed assets -€17,689
down €17,689 (-5.8%), from €303,955 to €286,266
of which Land and buildings: -€14,293
- Stocks and contracts +€7,484
up €7,484 (+4.9%), from €151,722 to €159,206
- Other debts +€150,000
new in 2025: €150,000
- Reserves -€141,031
down €141,031 (-23.3%), from €606,066 to €465,035
of which Distributable reserves: -€141,031
- Trade debts +€34,005
up €34,005 (+89.2%), from €38,138 to €72,143
- Current portion of long-term debt -€16,407
down €16,407 (-74.3%), from €22,088 to €5,681
- Gross operating margin +€16,204
up €16,204 (+8.8%), from €184,667 to €200,872
- Staff costs +€12,442
up €12,442 (+8.7%), from €142,903 to €155,345
- Other operating charges -€4,757
down €4,757 (-43.1%), from €11,029 to €6,272
- Taxes +€2,673
up €2,673 (+67.1%), from €3,983 to €6,656
- Financial income +€2,021
up €2,021 (+381252.8%), from €1 to €2,021
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 | €720,074 | €742,984 | +€22,910 | +3.2% |
| Fixed assets | 21/28 | €304,205 | €286,516 | -€17,689 | -5.8% |
| Tangible fixed assets | 22/27 | €303,955 | €286,266 | -€17,689 | -5.8% |
| Land and buildings | 22 | €294,066 | €279,773 | -€14,293 | -4.9% |
| Plant, machinery and equipment | 23 | €9,422 | €0 | -€9,422 | -100.0% |
| Furniture and vehicles | 24 | €467 | €6,493 | +€6,026 | +1289.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €415,869 | €456,468 | +€40,599 | +9.8% |
| Stocks and contracts in progress | 3 | €151,722 | €159,206 | +€7,484 | +4.9% |
| Stocks | 30/36 | €151,722 | €159,206 | +€7,484 | +4.9% |
| Amounts receivable within one year | 40/41 | €41,555 | €44,750 | +€3,195 | +7.7% |
| Trade receivables | 40 | €41,555 | €44,750 | +€3,195 | +7.7% |
| Cash at bank and in hand | 54/58 | €200,265 | €229,980 | +€29,716 | +14.8% |
| Deferred charges and accrued income | 490/1 | €22,327 | €22,531 | +€204 | +0.9% |
| Total equity and liabilities | 10/49 | €720,074 | €742,984 | +€22,910 | +3.2% |
| Equity | 10/15 | €624,658 | €483,627 | -€141,031 | -22.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €606,066 | €465,035 | -€141,031 | -23.3% |
| Non-distributable reserves | 130/1 | €4,958 | €4,958 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €4,958 | +€4,958 | |
| Other | 1319 | €4,958 | €0 | -€4,958 | -100.0% |
| Distributable reserves | 133 | €601,108 | €460,077 | -€141,031 | -23.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €95,416 | €259,357 | +€163,940 | +171.8% |
| Amounts payable after more than one year | 17 | €5,681 | €0 | -€5,681 | -100.0% |
| Financial debts | 170/4 | €5,681 | €0 | -€5,681 | -100.0% |
| Amounts payable within one year | 42/48 | €89,735 | €259,357 | +€169,621 | +189.0% |
| Current portion of amounts payable after more than one year | 42 | €22,088 | €5,681 | -€16,407 | -74.3% |
| Trade debts | 44 | €38,138 | €72,143 | +€34,005 | +89.2% |
| Suppliers | 440/4 | €38,138 | €72,143 | +€34,005 | +89.2% |
| Taxes, remuneration and social security | 45 | €29,510 | €31,533 | +€2,023 | +6.9% |
| Taxes | 450/3 | €9,241 | €10,182 | +€941 | +10.2% |
| Remuneration and social security | 454/9 | €20,268 | €21,350 | +€1,082 | +5.3% |
| Other amounts payable | 47/48 | - | €150,000 | +€150,000 | |
| Remuneration, social security and pensions | 62 | €142,903 | €155,345 | +€12,442 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,344 | €17,689 | +€345 | +2.0% |
| Other operating charges | 640/8 | €11,029 | €6,272 | -€4,757 | -43.1% |
| Gross operating margin | 9900 | €184,667 | €200,872 | +€16,204 | +8.8% |
| Operating profit (loss) | 9901 | €13,392 | €21,566 | +€8,174 | +61.0% |
| Financial income | 75/76B | €1 | €2,021 | +€2,021 | +381252.8% |
| Recurring financial income | 75 | €1 | €2,021 | +€2,021 | +381252.8% |
| Financial charges | 65/66B | €1,992 | €1,035 | -€957 | -48.0% |
| Recurring financial charges | 65 | €1,992 | €1,035 | -€957 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €11,400 | €22,552 | +€11,152 | +97.8% |
| Income taxes | 67/77 | €3,983 | €6,656 | +€2,673 | +67.1% |
| Profit (loss) for the period | 9904 | €7,417 | €15,896 | +€8,479 | +114.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,417 | €15,896 | +€8,479 | +114.3% |
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 5 October 2026 via checked.be.