PUBLICO - PRINT: 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.
PUBLICO - PRINT
Largest movements
- Tangible fixed assets -€19,750
down €19,750 (-13.7%), from €144,421 to €124,671
of which Other tangible fixed assets: -€12,174
- Current investments +€17,413
up €17,413 (+5.9%), from €296,597 to €314,010
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€10,117
up €10,117 (+126%), from €8,047 to €18,164
- Depreciation -€1,288
down €1,288 (-5.6%), from €23,142 to €21,854
- Taxes -€184
down €184 (-51.5%), from €357 to €173
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 | €445,896 | €443,033 | -€2,863 | -0.6% |
| Fixed assets | 21/28 | €144,421 | €124,671 | -€19,750 | -13.7% |
| Tangible fixed assets | 22/27 | €144,421 | €124,671 | -€19,750 | -13.7% |
| Land and buildings | 22 | €67,330 | €62,058 | -€5,272 | -7.8% |
| Furniture and vehicles | 24 | €4,047 | €1,743 | -€2,304 | -56.9% |
| Other tangible fixed assets | 26 | €73,045 | €60,870 | -€12,174 | -16.7% |
| Current assets | 29/58 | €301,474 | €318,361 | +€16,887 | +5.6% |
| Amounts receivable within one year | 40/41 | €569 | €369 | -€201 | -35.3% |
| Other amounts receivable | 41 | €569 | €369 | -€201 | -35.3% |
| Current investments | 50/53 | €296,597 | €314,010 | +€17,413 | +5.9% |
| Cash at bank and in hand | 54/58 | €4,308 | €3,982 | -€325 | -7.6% |
| Total equity and liabilities | 10/49 | €445,896 | €443,033 | -€2,863 | -0.6% |
| Equity | 10/15 | €443,102 | €440,210 | -€2,891 | -0.7% |
| Contributions | 10/11 | €429,600 | €429,600 | = | 0.0% |
| Reserves | 13 | €51,269 | €51,269 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,644 | €19,644 | = | 0.0% |
| Distributable reserves | 133 | €31,625 | €31,625 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,767 | -€40,658 | -€2,891 | -7.7% |
| Amounts payable | 17/49 | €2,794 | €2,822 | +€28 | +1.0% |
| Amounts payable after more than one year | 17 | €1,535 | €1,535 | = | 0.0% |
| Other amounts payable | 178/9 | €1,535 | €1,535 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,259 | €1,288 | +€28 | +2.3% |
| Trade debts | 44 | €1,259 | €1,288 | +€28 | +2.3% |
| Suppliers | 440/4 | €1,259 | €1,288 | +€28 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,142 | €21,854 | -€1,288 | -5.6% |
| Other operating charges | 640/8 | €777 | €796 | +€18 | +2.4% |
| Gross operating margin | 9900 | €8,047 | €18,164 | +€10,117 | +126% |
| Operating profit (loss) | 9901 | -€15,873 | -€4,486 | +€11,387 | +71.7% |
| Financial income | 75/76B | €1,932 | €1,807 | -€125 | -6.5% |
| Recurring financial income | 75 | €1,932 | €1,807 | -€125 | -6.5% |
| Financial charges | 65/66B | €38 | €39 | +€2 | +4.0% |
| Recurring financial charges | 65 | €38 | €39 | +€2 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,978 | -€2,718 | +€11,260 | +80.6% |
| Income taxes | 67/77 | €357 | €173 | -€184 | -51.5% |
| Profit (loss) for the period | 9904 | -€14,336 | -€2,891 | +€11,444 | +79.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,336 | -€2,891 | +€11,444 | +79.8% |
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.