PUBLIMATS: 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.
PUBLIMATS
Largest movements
- Cash +€65,192
up €65,192 (+109.7%), from €59,410 to €124,602
mainly Trade debts (+€34,404) and Depreciation (+€26,358)
- Receivables within one year +€35,878
up €35,878 (+34.4%), from €104,356 to €140,234
of which Trade receivables: +€21,972
- Tangible fixed assets -€26,358
down €26,358 (-18.4%), from €143,382 to €117,023
of which Leasing and similar rights: -€20,488
- Deferred charges and accrued income -€12,036
down €12,036 (-73.3%), from €16,420 to €4,384
- Trade debts +€34,404
up €34,404 (+33.0%), from €104,267 to €138,671
- Tax, wage and social debts +€23,133
up €23,133 (+56.3%), from €41,103 to €64,236
of which Taxes: +€24,634
- Other debts +€13,936
up €13,936 (+39.8%), from €35,030 to €48,965
- Debts after one year -€12,280
down €12,280 (-12.7%), from €96,833 to €84,552
of which Financial debts: -€13,330
- Profit (loss) carried forward +€6,501
up €6,501 (+47.5%), from -€13,698 to -€7,197
- Gross operating margin +€69,315
up €69,315 (+43.0%), from €161,320 to €230,635
- Write-downs -€16,884
no longer reported in 2025 (was €16,884)
- Other operating charges -€13,185
down €13,185 (-90.7%), from €14,530 to €1,345
- Taxes +€12,750
up €12,750 (+566.7%), from €2,250 to €15,000
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 | €323,568 | €386,243 | +€62,675 | +19.4% |
| Fixed assets | 21/28 | €143,382 | €117,023 | -€26,358 | -18.4% |
| Tangible fixed assets | 22/27 | €143,382 | €117,023 | -€26,358 | -18.4% |
| Plant, machinery and equipment | 23 | €21,225 | €16,307 | -€4,919 | -23.2% |
| Furniture and vehicles | 24 | €1,185 | €233 | -€952 | -80.3% |
| Leasing and similar rights | 25 | €120,971 | €100,484 | -€20,488 | -16.9% |
| Current assets | 29/58 | €180,186 | €269,220 | +€89,034 | +49.4% |
| Amounts receivable within one year | 40/41 | €104,356 | €140,234 | +€35,878 | +34.4% |
| Trade receivables | 40 | €103,262 | €125,234 | +€21,972 | +21.3% |
| Other amounts receivable | 41 | €1,094 | €15,000 | +€13,906 | +1271.1% |
| Cash at bank and in hand | 54/58 | €59,410 | €124,602 | +€65,192 | +109.7% |
| Deferred charges and accrued income | 490/1 | €16,420 | €4,384 | -€12,036 | -73.3% |
| Total equity and liabilities | 10/49 | €323,568 | €386,243 | +€62,675 | +19.4% |
| Equity | 10/15 | €29,987 | €36,488 | +€6,501 | +21.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,085 | €25,085 | = | 0.0% |
| Distributable reserves | 133 | €25,085 | €25,085 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,698 | -€7,197 | +€6,501 | +47.5% |
| Amounts payable | 17/49 | €293,581 | €349,756 | +€56,174 | +19.1% |
| Amounts payable after more than one year | 17 | €96,833 | €84,552 | -€12,280 | -12.7% |
| Financial debts | 170/4 | €95,258 | €81,927 | -€13,330 | -14.0% |
| Other amounts payable | 178/9 | €1,575 | €2,625 | +€1,050 | +66.7% |
| Amounts payable within one year | 42/48 | €196,749 | €265,203 | +€68,454 | +34.8% |
| Current portion of amounts payable after more than one year | 42 | €16,349 | €13,330 | -€3,019 | -18.5% |
| Trade debts | 44 | €104,267 | €138,671 | +€34,404 | +33.0% |
| Suppliers | 440/4 | €104,267 | €138,671 | +€34,404 | +33.0% |
| Taxes, remuneration and social security | 45 | €41,103 | €64,236 | +€23,133 | +56.3% |
| Taxes | 450/3 | €14,903 | €39,537 | +€24,634 | +165.3% |
| Remuneration and social security | 454/9 | €26,200 | €24,700 | -€1,500 | -5.7% |
| Other amounts payable | 47/48 | €35,030 | €48,965 | +€13,936 | +39.8% |
| Remuneration, social security and pensions | 62 | €181,949 | €181,445 | -€504 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,023 | €26,358 | -€665 | -2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €16,884 | - | -€16,884 | |
| Other operating charges | 640/8 | €14,530 | €1,345 | -€13,185 | -90.7% |
| Gross operating margin | 9900 | €161,320 | €230,635 | +€69,315 | +43.0% |
| Operating profit (loss) | 9901 | -€79,065 | €21,487 | +€100,552 | |
| Financial income | 75/76B | €3,637 | €3,489 | -€147 | -4.0% |
| Recurring financial income | 75 | €3,637 | €3,489 | -€147 | -4.0% |
| Financial charges | 65/66B | €4,154 | €3,475 | -€679 | -16.3% |
| Recurring financial charges | 65 | €4,154 | €3,475 | -€679 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | -€79,583 | €21,501 | +€101,084 | |
| Income taxes | 67/77 | €2,250 | €15,000 | +€12,750 | +566.7% |
| Profit (loss) for the period | 9904 | -€81,832 | €6,501 | +€88,333 | |
| Profit (loss) for the period to be appropriated | 9905 | -€81,832 | €6,501 | +€88,333 |
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 6 October 2026 via checked.be.