PUBLICUM: 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.
PUBLICUM
Largest movements
- Intangible fixed assets -€7,179
down €7,179 (-50.2%), from €14,305 to €7,126
- Cash +€4,305
up €4,305 (+25.1%), from €17,169 to €21,474
mainly Depreciation (+€13,852) and Tax, wage and social debts (+€200)
- Tangible fixed assets -€3,593
down €3,593 (-20.0%), from €17,960 to €14,367
of which Land and buildings: -€6,323
- Other debts -€3,188
down €3,188 (-13.1%), from €24,318 to €21,129
- Reserves -€3,050
down €3,050 (-24.6%), from €12,390 to €9,341
of which Distributable reserves: -€3,050
- Gross operating margin +€9,590
up €9,590 (+253.2%), from €3,787 to €13,377
- Other operating charges +€428
up €428 (+26.7%), from €1,600 to €2,028
- Depreciation +€349
up €349 (+2.6%), from €13,503 to €13,852
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 | €55,300 | €49,262 | -€6,038 | -10.9% |
| Fixed assets | 21/28 | €32,696 | €21,923 | -€10,773 | -32.9% |
| Intangible fixed assets | 21 | €14,305 | €7,126 | -€7,179 | -50.2% |
| Tangible fixed assets | 22/27 | €17,960 | €14,367 | -€3,593 | -20.0% |
| Land and buildings | 22 | €17,960 | €11,637 | -€6,323 | -35.2% |
| Furniture and vehicles | 24 | - | €2,730 | +€2,730 | |
| Financial fixed assets | 28 | €431 | €431 | = | 0.0% |
| Current assets | 29/58 | €22,604 | €27,338 | +€4,735 | +20.9% |
| Amounts receivable within one year | 40/41 | €4,266 | €4,266 | = | 0.0% |
| Other amounts receivable | 41 | €4,266 | €4,266 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,169 | €21,474 | +€4,305 | +25.1% |
| Deferred charges and accrued income | 490/1 | €1,168 | €1,598 | +€430 | +36.8% |
| Total equity and liabilities | 10/49 | €55,300 | €49,262 | -€6,038 | -10.9% |
| Equity | 10/15 | €30,982 | €27,933 | -€3,050 | -9.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €12,390 | €9,341 | -€3,050 | -24.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €10,531 | €7,481 | -€3,050 | -29.0% |
| Amounts payable | 17/49 | €24,318 | €21,329 | -€2,988 | -12.3% |
| Amounts payable within one year | 42/48 | €24,318 | €21,329 | -€2,988 | -12.3% |
| Taxes, remuneration and social security | 45 | - | €200 | +€200 | |
| Taxes | 450/3 | - | €200 | +€200 | |
| Other amounts payable | 47/48 | €24,318 | €21,129 | -€3,188 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,503 | €13,852 | +€349 | +2.6% |
| Other operating charges | 640/8 | €1,600 | €2,028 | +€428 | +26.7% |
| Gross operating margin | 9900 | €3,787 | €13,377 | +€9,590 | +253.2% |
| Operating profit (loss) | 9901 | -€11,316 | -€2,503 | +€8,813 | +77.9% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €104 | €106 | +€3 | +2.4% |
| Recurring financial charges | 65 | €104 | €106 | +€3 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,419 | -€2,604 | +€8,815 | +77.2% |
| Income taxes | 67/77 | €419 | €445 | +€26 | +6.2% |
| Profit (loss) for the period | 9904 | -€11,839 | -€3,050 | +€8,789 | +74.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,839 | -€3,050 | +€8,789 | +74.2% |
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 7 October 2026 via checked.be.