PUBLICOM: 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.
PUBLICOM
Largest movements
- Tangible fixed assets +€68,954
up €68,954 (+54.8%), from €125,900 to €194,854
of which Furniture and vehicles: +€76,955
- Cash -€53,371
down €53,371 (-96.4%), from €55,372 to €2,001
mainly Investment in fixed assets (net) (-€65,412) and Net result for the year (-€16,490)
- Financial fixed assets -€31,496
down €31,496 (-82.0%), from €38,414 to €6,918
- Profit (loss) carried forward -€9,837
down €9,837 (-19.5%), from -€50,436 to -€60,272
- Reserves -€6,653
down €6,653 (-3.2%), from €206,835 to €200,182
of which Tax-exempt reserves: -€6,653
- Gross operating margin +€33,300
up €33,300, from -€13,069 to €20,231
- Depreciation +€17,100
up €17,100 (+158%), from €10,854 to €27,954
- Other operating charges +€4,293
up €4,293 (+97.0%), from €4,425 to €8,718
- Financial income -€1,115
down €1,115 (-62.0%), from €1,798 to €682
- Taxes -€555
down €555 (-51.5%), from €1,078 to €523
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €234,280 | €215,545 | -€18,735 | -8.0% |
| Fixed assets | 21/28 | €164,314 | €201,772 | +€37,458 | +22.8% |
| Tangible fixed assets | 22/27 | €125,900 | €194,854 | +€68,954 | +54.8% |
| Land and buildings | 22 | €113,500 | €106,326 | -€7,174 | -6.3% |
| Plant, machinery and equipment | 23 | €1,141 | €787 | -€354 | -31.0% |
| Furniture and vehicles | 24 | €7,198 | €84,153 | +€76,955 | +1,069% |
| Other tangible fixed assets | 26 | €4,061 | €3,588 | -€473 | -11.7% |
| Financial fixed assets | 28 | €38,414 | €6,918 | -€31,496 | -82.0% |
| Current assets | 29/58 | €69,966 | €13,773 | -€56,194 | -80.3% |
| Amounts receivable within one year | 40/41 | €13,121 | €11,544 | -€1,577 | -12.0% |
| Trade receivables | 40 | - | €449 | +€449 | |
| Other amounts receivable | 41 | €13,121 | €11,095 | -€2,026 | -15.4% |
| Cash at bank and in hand | 54/58 | €55,372 | €2,001 | -€53,371 | -96.4% |
| Deferred charges and accrued income | 490/1 | €1,473 | €228 | -€1,246 | -84.5% |
| Total equity and liabilities | 10/49 | €234,280 | €215,545 | -€18,735 | -8.0% |
| Equity | 10/15 | €230,768 | €214,278 | -€16,490 | -7.1% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €206,835 | €200,182 | -€6,653 | -3.2% |
| Tax-exempt reserves | 132 | €75,398 | €68,746 | -€6,653 | -8.8% |
| Distributable reserves | 133 | €131,437 | €131,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,436 | -€60,272 | -€9,837 | -19.5% |
| Amounts payable | 17/49 | €3,513 | €1,267 | -€2,246 | -63.9% |
| Amounts payable within one year | 42/48 | €3,513 | €1,267 | -€2,246 | -63.9% |
| Trade debts | 44 | €2,434 | €767 | -€1,668 | -68.5% |
| Suppliers | 440/4 | €2,434 | €767 | -€1,668 | -68.5% |
| Taxes, remuneration and social security | 45 | €1,078 | €500 | -€578 | -53.6% |
| Taxes | 450/3 | €1,078 | €500 | -€578 | -53.6% |
| Non-recurring operating income | 76A | - | €12,000 | +€12,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,854 | €27,954 | +€17,100 | +158% |
| Other operating charges | 640/8 | €4,425 | €8,718 | +€4,293 | +97.0% |
| Gross operating margin | 9900 | -€13,069 | €20,231 | +€33,300 | |
| Operating profit (loss) | 9901 | -€28,348 | -€16,441 | +€11,907 | +42.0% |
| Financial income | 75/76B | €1,798 | €682 | -€1,115 | -62.0% |
| Recurring financial income | 75 | €1,798 | €682 | -€1,115 | -62.0% |
| Financial charges | 65/66B | €153 | €208 | +€55 | +35.9% |
| Recurring financial charges | 65 | €153 | €208 | +€55 | +35.9% |
| Profit (loss) for the period before taxes | 9903 | -€26,703 | -€15,967 | +€10,736 | +40.2% |
| Income taxes | 67/77 | €1,078 | €523 | -€555 | -51.5% |
| Profit (loss) for the period | 9904 | -€27,781 | -€16,490 | +€11,292 | +40.6% |
| Transfer from tax-exempt reserves | 789 | €6,653 | €6,653 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,129 | -€9,837 | +€11,292 | +53.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.