PUBLIMAC: 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.
PUBLIMAC
Largest movements
- Cash -€30,973
down €30,973 (-88.9%), from €34,849 to €3,876
mainly Other debts (-€24,572) and Receivables within one year (-€7,488)
- Receivables within one year +€7,488
up €7,488 (+2.1%), from €355,325 to €362,813
of which Other amounts receivable: +€8,606
- Other debts -€24,572
down €24,572 (-100.0%), from €24,572 to €0
- Financial income -€252,105
down €252,105 (-100.0%), from €252,105 to €0
of which Financial income: -€252,105
- Gross operating margin +€30,503
up €30,503, from -€24,892 to €5,610
- Other operating charges -€6,235
down €6,235 (-72.5%), from €8,600 to €2,365
- Financial charges -€4,615
down €4,615 (-85.4%), from €5,407 to €792
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 | €390,352 | €367,475 | -€22,877 | -5.9% |
| Fixed assets | 21/28 | €0 | €682 | +€682 | |
| Tangible fixed assets | 22/27 | €0 | €682 | +€682 | |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | - | €682 | +€682 | |
| Current assets | 29/58 | €390,352 | €366,793 | -€23,560 | -6.0% |
| Stocks and contracts in progress | 3 | €179 | €104 | -€75 | -41.9% |
| Stocks | 30/36 | €179 | €104 | -€75 | -41.9% |
| Amounts receivable within one year | 40/41 | €355,325 | €362,813 | +€7,488 | +2.1% |
| Trade receivables | 40 | €17,372 | €16,253 | -€1,118 | -6.4% |
| Other amounts receivable | 41 | €337,953 | €346,560 | +€8,606 | +2.5% |
| Cash at bank and in hand | 54/58 | €34,849 | €3,876 | -€30,973 | -88.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €390,352 | €367,475 | -€22,877 | -5.9% |
| Equity | 10/15 | €300,886 | €303,206 | +€2,320 | +0.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €241,328 | €241,328 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €231,328 | €231,328 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,443 | -€38,123 | +€2,320 | +5.7% |
| Provisions and deferred taxes | 16 | €63,026 | €63,026 | = | 0.0% |
| Deferred taxes | 168 | €63,026 | €63,026 | = | 0.0% |
| Amounts payable | 17/49 | €26,440 | €1,243 | -€25,197 | -95.3% |
| Amounts payable within one year | 42/48 | €26,440 | €1,130 | -€25,310 | -95.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,868 | €447 | -€1,422 | -76.1% |
| Suppliers | 440/4 | €1,868 | €447 | -€1,422 | -76.1% |
| Taxes, remuneration and social security | 45 | €0 | €684 | +€684 | |
| Taxes | 450/3 | €0 | €684 | +€684 | |
| Other amounts payable | 47/48 | €24,572 | €0 | -€24,572 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €113 | +€113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €134 | +€134 | |
| Other operating charges | 640/8 | €8,600 | €2,365 | -€6,235 | -72.5% |
| Gross operating margin | 9900 | -€24,892 | €5,610 | +€30,503 | |
| Operating profit (loss) | 9901 | -€33,492 | €3,112 | +€36,604 | |
| Financial income | 75/76B | €252,105 | €0 | -€252,105 | -100.0% |
| Recurring financial income | 75 | €252,105 | €0 | -€252,105 | -100.0% |
| Non-recurring financial income | 76B | €252,105 | €0 | -€252,105 | -100.0% |
| Financial charges | 65/66B | €5,407 | €792 | -€4,615 | -85.4% |
| Recurring financial charges | 65 | €5,407 | €792 | -€4,615 | -85.4% |
| Profit (loss) for the period before taxes | 9903 | €213,205 | €2,320 | -€210,886 | -98.9% |
| Transfer from deferred taxes | 780 | €7,197 | €0 | -€7,197 | -100.0% |
| Transfer to deferred taxes | 680 | €63,026 | €0 | -€63,026 | -100.0% |
| Profit (loss) for the period | 9904 | €157,377 | €2,320 | -€155,057 | -98.5% |
| Transfer from tax-exempt reserves | 789 | €13,969 | €0 | -€13,969 | -100.0% |
| Transfer to tax-exempt reserves | 689 | €189,078 | €0 | -€189,078 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,733 | €2,320 | +€20,052 |
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 1 October 2026 via checked.be.