PUBLIGENCE: 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.
PUBLIGENCE
Largest movements
- Cash +€30,401
up €30,401 (+62.7%), from €48,518 to €78,919
mainly Net result for the year (+€21,455) and Trade debts (+€8,754)
- Deferred charges and accrued income -€3,254
down €3,254 (-81.0%), from €4,018 to €764
- Tangible fixed assets -€2,061
down €2,061 (-20.3%), from €10,170 to €8,110
of which Furniture and vehicles: -€3,058
- Receivables within one year +€1,384
up €1,384 (+9.7%), from €14,283 to €15,667
of which Trade receivables: +€1,334
- Reserves +€26,776
up €26,776 (+58.4%), from €45,855 to €72,631
- Profit (loss) carried forward -€14,522
down €14,522 (-100%), from €14,522 to €0
- Trade debts +€8,754
up €8,754 (+198%), from €4,429 to €13,183
- Other debts +€5,462
new in 2025: €5,462
- Gross operating margin +€28,223
up €28,223 (+380%), from €7,423 to €35,646
- Taxes +€7,106
up €7,106 (+464%), from €1,532 to €8,639
- Depreciation +€1,447
up €1,447 (+37.1%), from €3,900 to €5,347
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 | €85,240 | €111,709 | +€26,470 | +31.1% |
| Fixed assets | 21/28 | €18,420 | €16,360 | -€2,061 | -11.2% |
| Tangible fixed assets | 22/27 | €10,170 | €8,110 | -€2,061 | -20.3% |
| Plant, machinery and equipment | 23 | €593 | €1,590 | +€997 | +168% |
| Furniture and vehicles | 24 | €9,577 | €6,519 | -€3,058 | -31.9% |
| Financial fixed assets | 28 | €8,250 | €8,250 | = | 0.0% |
| Current assets | 29/58 | €66,819 | €95,350 | +€28,530 | +42.7% |
| Amounts receivable within one year | 40/41 | €14,283 | €15,667 | +€1,384 | +9.7% |
| Trade receivables | 40 | €13,393 | €14,727 | +€1,334 | +10.0% |
| Other amounts receivable | 41 | €890 | €939 | +€49 | +5.5% |
| Cash at bank and in hand | 54/58 | €48,518 | €78,919 | +€30,401 | +62.7% |
| Deferred charges and accrued income | 490/1 | €4,018 | €764 | -€3,254 | -81.0% |
| Total equity and liabilities | 10/49 | €85,240 | €111,709 | +€26,470 | +31.1% |
| Equity | 10/15 | €72,777 | €85,031 | +€12,255 | +16.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €45,855 | €72,631 | +€26,776 | +58.4% |
| Distributable reserves | 133 | €45,855 | €72,631 | +€26,776 | +58.4% |
| Profit (loss) carried forward | 14 | €14,522 | €0 | -€14,522 | -100% |
| Amounts payable | 17/49 | €12,463 | €26,678 | +€14,215 | +114% |
| Amounts payable within one year | 42/48 | €12,463 | €26,678 | +€14,215 | +114% |
| Trade debts | 44 | €4,429 | €13,183 | +€8,754 | +198% |
| Suppliers | 440/4 | €4,429 | €13,183 | +€8,754 | +198% |
| Taxes, remuneration and social security | 45 | €8,034 | €8,033 | -€1 | 0.0% |
| Taxes | 450/3 | €4,632 | €4,631 | -€1 | 0.0% |
| Remuneration and social security | 454/9 | €3,402 | €3,402 | = | 0.0% |
| Other amounts payable | 47/48 | - | €5,462 | +€5,462 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,900 | €5,347 | +€1,447 | +37.1% |
| Other operating charges | 640/8 | €749 | €692 | -€57 | -7.6% |
| Gross operating margin | 9900 | €7,423 | €35,646 | +€28,223 | +380% |
| Operating profit (loss) | 9901 | €2,774 | €29,607 | +€26,833 | +967% |
| Financial income | 75/76B | €445 | €663 | +€218 | +49.0% |
| Recurring financial income | 75 | €445 | €663 | +€218 | +49.0% |
| Financial charges | 65/66B | €135 | €176 | +€41 | +30.5% |
| Recurring financial charges | 65 | €135 | €176 | +€41 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €3,084 | €30,093 | +€27,010 | +876% |
| Income taxes | 67/77 | €1,532 | €8,639 | +€7,106 | +464% |
| Profit (loss) for the period | 9904 | €1,551 | €21,455 | +€19,903 | +1,283% |
| Profit (loss) for the period to be appropriated | 9905 | €1,551 | €21,455 | +€19,903 | +1,283% |
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 17 October 2026 via checked.be.