PUBLICON: 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.
PUBLICON
Largest movements
- Cash +€45,408
up €45,408 (+30.4%), from €149,427 to €194,835
mainly Other debts (+€168,581) and Net result for the year (+€87,080)
- Receivables after one year +€15,000
new in 2025: €15,000
- Receivables within one year -€4,747
down €4,747 (-22.7%), from €20,869 to €16,122
of which Trade receivables: -€2,910
- Other debts +€168,581
new in 2025: €168,581
- Profit (loss) carried forward -€112,920
down €112,920 (-70.8%), from €159,520 to €46,600
- Gross operating margin +€13,871
up €13,871 (+14.3%), from €97,294 to €111,165
- Taxes +€4,488
up €4,488 (+21.9%), from €20,469 to €24,957
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 | €174,969 | €230,966 | +€55,997 | +32.0% |
| Fixed assets | 21/28 | €1,042 | €2,590 | +€1,548 | +148.6% |
| Tangible fixed assets | 22/27 | €1,042 | €2,590 | +€1,548 | +148.6% |
| Plant, machinery and equipment | 23 | €1,042 | €1,294 | +€252 | +24.2% |
| Furniture and vehicles | 24 | - | €1,296 | +€1,296 | |
| Current assets | 29/58 | €173,927 | €228,376 | +€54,449 | +31.3% |
| Amounts receivable after more than one year | 29 | - | €15,000 | +€15,000 | |
| Other amounts receivable | 291 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €20,869 | €16,122 | -€4,747 | -22.7% |
| Trade receivables | 40 | €17,152 | €14,242 | -€2,910 | -17.0% |
| Other amounts receivable | 41 | €3,717 | €1,881 | -€1,837 | -49.4% |
| Cash at bank and in hand | 54/58 | €149,427 | €194,835 | +€45,408 | +30.4% |
| Deferred charges and accrued income | 490/1 | €3,630 | €2,418 | -€1,212 | -33.4% |
| Total equity and liabilities | 10/49 | €174,969 | €230,966 | +€55,997 | +32.0% |
| Equity | 10/15 | €161,920 | €49,000 | -€112,920 | -69.7% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €159,520 | €46,600 | -€112,920 | -70.8% |
| Amounts payable | 17/49 | €13,048 | €181,965 | +€168,917 | +1294.5% |
| Amounts payable within one year | 42/48 | €13,048 | €181,965 | +€168,917 | +1294.5% |
| Trade debts | 44 | €3,834 | €4,175 | +€342 | +8.9% |
| Suppliers | 440/4 | €3,834 | €4,175 | +€342 | +8.9% |
| Taxes, remuneration and social security | 45 | €9,215 | €9,209 | -€6 | -0.1% |
| Taxes | 450/3 | €9,215 | €9,209 | -€6 | -0.1% |
| Other amounts payable | 47/48 | - | €168,581 | +€168,581 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €523 | €1,160 | +€637 | +121.7% |
| Other operating charges | 640/8 | €181 | €148 | -€33 | -18.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €97,294 | €111,165 | +€13,871 | +14.3% |
| Operating profit (loss) | 9901 | €96,590 | €109,857 | +€13,267 | +13.7% |
| Financial income | 75/76B | €1,691 | €2,309 | +€619 | +36.6% |
| Recurring financial income | 75 | €1,691 | €2,309 | +€619 | +36.6% |
| Financial charges | 65/66B | €94 | €130 | +€35 | +37.7% |
| Recurring financial charges | 65 | €94 | €130 | +€35 | +37.7% |
| Profit (loss) for the period before taxes | 9903 | €98,187 | €112,037 | +€13,850 | +14.1% |
| Income taxes | 67/77 | €20,469 | €24,957 | +€4,488 | +21.9% |
| Profit (loss) for the period | 9904 | €77,718 | €87,080 | +€9,363 | +12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €77,718 | €87,080 | +€9,363 | +12.0% |
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 9 October 2026 via checked.be.