PUBLIMAGE: 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.
PUBLIMAGE
Largest movements
- Cash -€44,397
down €44,397 (-57.5%), from €77,172 to €32,775
mainly Other debts (-€29,609) and Net result for the year (-€18,425)
- Receivables within one year -€11,398
down €11,398 (-86.1%), from €13,231 to €1,833
of which Trade receivables: -€11,093
- Other debts -€29,609
down €29,609 (-29.4%), from €100,630 to €71,021
- Profit (loss) carried forward -€18,425
down €18,425 (-35.0%), from -€52,694 to -€71,119
- Trade debts -€8,021
down €8,021 (-90.0%), from €8,914 to €893
- Gross operating margin -€87,765
down €87,765, from €70,187 to -€17,577
- Other operating charges -€764
down €764 (-66.4%), from €1,151 to €387
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 | €177,086 | €121,031 | -€56,055 | -31.7% |
| Fixed assets | 21/28 | €714 | €348 | -€366 | -51.3% |
| Tangible fixed assets | 22/27 | €714 | €348 | -€366 | -51.3% |
| Furniture and vehicles | 24 | €714 | €348 | -€366 | -51.3% |
| Current assets | 29/58 | €176,372 | €120,683 | -€55,689 | -31.6% |
| Stocks and contracts in progress | 3 | €84,870 | €84,870 | = | 0.0% |
| Stocks | 30/36 | €84,870 | €84,870 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €13,231 | €1,833 | -€11,398 | -86.1% |
| Trade receivables | 40 | €12,378 | €1,284 | -€11,093 | -89.6% |
| Other amounts receivable | 41 | €853 | €548 | -€305 | -35.8% |
| Cash at bank and in hand | 54/58 | €77,172 | €32,775 | -€44,397 | -57.5% |
| Deferred charges and accrued income | 490/1 | €1,099 | €1,205 | +€106 | +9.7% |
| Total equity and liabilities | 10/49 | €177,086 | €121,031 | -€56,055 | -31.7% |
| Equity | 10/15 | -€32,457 | -€50,882 | -€18,425 | -56.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,645 | €1,645 | = | 0.0% |
| Distributable reserves | 133 | €1,645 | €1,645 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,694 | -€71,119 | -€18,425 | -35.0% |
| Amounts payable | 17/49 | €209,543 | €171,913 | -€37,630 | -18.0% |
| Amounts payable after more than one year | 17 | €100,000 | €100,000 | = | 0.0% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €109,543 | €71,913 | -€37,630 | -34.4% |
| Trade debts | 44 | €8,914 | €893 | -€8,021 | -90.0% |
| Suppliers | 440/4 | €8,914 | €893 | -€8,021 | -90.0% |
| Other amounts payable | 47/48 | €100,630 | €71,021 | -€29,609 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €614 | €366 | -€248 | -40.4% |
| Other operating charges | 640/8 | €1,151 | €387 | -€764 | -66.4% |
| Gross operating margin | 9900 | €70,187 | -€17,577 | -€87,765 | |
| Operating profit (loss) | 9901 | €68,422 | -€18,331 | -€86,753 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €99 | €95 | -€5 | -4.7% |
| Recurring financial charges | 65 | €99 | €95 | -€5 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €68,324 | -€18,425 | -€86,750 | |
| Profit (loss) for the period | 9904 | €68,324 | -€18,425 | -€86,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €68,324 | -€18,425 | -€86,750 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.