PUBLIMAG: 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.
What changed
PUBLIMAG
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1,515
2024 · €33,906-€32,390
Equity
€500,711
2024 · €499,195+€1,515
Cash
€1,273
2024 · €9,515-€8,242
Balance sheet total
€783,366
2024 · €944,930-€161,564
Largest movements
Assets
- Tangible fixed assets -€146,197
down €146,197 (-17.1%), from €852,806 to €706,610
of which Land and buildings: -€96,967
Equity and liabilities
- Other debts -€78,724
down €78,724 (-60.5%), from €130,056 to €51,332
- Debts after one year -€66,932
down €66,932 (-38.3%), from €174,800 to €107,868
- Current portion of long-term debt -€12,644
down €12,644 (-15.9%), from €79,576 to €66,932
Income statement
- Gross operating margin -€35,712
down €35,712 (-23.0%), from €155,496 to €119,784
- Other operating charges +€6,085
up €6,085 (+121.8%), from €4,997 to €11,082
- Taxes -€5,708
down €5,708 (-55.7%), from €10,242 to €4,534
- Financial charges -€2,325
down €2,325 (-37.3%), from €6,231 to €3,906
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.
Result 2024
€33,906
Gross operating margin
-€35,712
Staff costs
+€371
Depreciation
+€1,087
Other operating charges
-€6,085
Financial income
-€85
Financial charges
+€2,325
Taxes
+€5,708
Result 2025
€1,515
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.
From operations
+€25,127
Investment
+€46,207
Financing
-€79,576
Cash 2024
€9,515
From operations (derived)
+€25,127
Net result for the year
+€1,515
Depreciation
+€99,990
Receivables within one year
+€7,126
Trade debts
-€1,511
Tax, wage and social debts
-€3,269
Other debts
-€78,724
Investment (derived)
+€46,207
Investment in fixed assets (net)
+€46,207
Financing
-€79,576
Debts after one year
-€66,932
Current portion of long-term debt
-€12,644
Cash 2025
€1,273
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €944,930 | €783,366 | -€161,564 | -17.1% |
| Fixed assets | 21/28 | €852,806 | €706,610 | -€146,197 | -17.1% |
| Tangible fixed assets | 22/27 | €852,806 | €706,610 | -€146,197 | -17.1% |
| Land and buildings | 22 | €779,043 | €682,076 | -€96,967 | -12.4% |
| Plant, machinery and equipment | 23 | €8,024 | €7,449 | -€576 | -7.2% |
| Furniture and vehicles | 24 | €63,475 | - | -€63,475 | |
| Other tangible fixed assets | 26 | €2,263 | €17,084 | +€14,821 | +654.8% |
| Current assets | 29/58 | €92,124 | €76,756 | -€15,367 | -16.7% |
| Amounts receivable within one year | 40/41 | €82,609 | €75,483 | -€7,126 | -8.6% |
| Trade receivables | 40 | €49,362 | €49,392 | +€30 | +0.1% |
| Other amounts receivable | 41 | €33,247 | €26,091 | -€7,156 | -21.5% |
| Cash at bank and in hand | 54/58 | €9,515 | €1,273 | -€8,242 | -86.6% |
| Total equity and liabilities | 10/49 | €944,930 | €783,366 | -€161,564 | -17.1% |
| Equity | 10/15 | €499,195 | €500,711 | +€1,515 | +0.3% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €420,863 | €422,379 | +€1,515 | +0.4% |
| Non-distributable reserves | 130/1 | €930 | €930 | = | 0.0% |
| Reserves not available under the articles | 1311 | €930 | €930 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,062 | €3,062 | = | 0.0% |
| Distributable reserves | 133 | €416,872 | €418,387 | +€1,515 | +0.4% |
| Profit (loss) carried forward | 14 | €72,135 | €72,135 | = | 0.0% |
| Provisions and deferred taxes | 16 | €54,583 | €54,583 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €54,583 | €54,583 | = | 0.0% |
| Pensions and similar obligations | 160 | €54,583 | €54,583 | = | 0.0% |
| Amounts payable | 17/49 | €391,151 | €228,072 | -€163,080 | -41.7% |
| Amounts payable after more than one year | 17 | €174,800 | €107,868 | -€66,932 | -38.3% |
| Financial debts | 170/4 | €174,800 | €107,868 | -€66,932 | -38.3% |
| Amounts payable within one year | 42/48 | €216,351 | €120,203 | -€96,148 | -44.4% |
| Current portion of amounts payable after more than one year | 42 | €79,576 | €66,932 | -€12,644 | -15.9% |
| Trade debts | 44 | €2,453 | €942 | -€1,511 | -61.6% |
| Suppliers | 440/4 | €2,453 | €942 | -€1,511 | -61.6% |
| Taxes, remuneration and social security | 45 | €4,266 | €997 | -€3,269 | -76.6% |
| Taxes | 450/3 | €3,767 | €997 | -€2,770 | -73.5% |
| Remuneration and social security | 454/9 | €499 | - | -€499 | |
| Other amounts payable | 47/48 | €130,056 | €51,332 | -€78,724 | -60.5% |
| Non-recurring operating income | 76A | - | €16,225 | +€16,225 | |
| Remuneration, social security and pensions | 62 | €942 | €570 | -€371 | -39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,077 | €99,990 | -€1,087 | -1.1% |
| Other operating charges | 640/8 | €4,997 | €11,082 | +€6,085 | +121.8% |
| Gross operating margin | 9900 | €155,496 | €119,784 | -€35,712 | -23.0% |
| Operating profit (loss) | 9901 | €48,480 | €8,142 | -€40,338 | -83.2% |
| Financial income | 75/76B | €1,898 | €1,813 | -€85 | -4.5% |
| Recurring financial income | 75 | €1,898 | €1,813 | -€85 | -4.5% |
| Financial charges | 65/66B | €6,231 | €3,906 | -€2,325 | -37.3% |
| Recurring financial charges | 65 | €6,231 | €3,906 | -€2,325 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €44,147 | €6,049 | -€38,098 | -86.3% |
| Income taxes | 67/77 | €10,242 | €4,534 | -€5,708 | -55.7% |
| Profit (loss) for the period | 9904 | €33,906 | €1,515 | -€32,390 | -95.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,906 | €1,515 | -€32,390 | -95.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.