PUBLIMMO: 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.
PUBLIMMO
Largest movements
- Tangible fixed assets +€233,446
up €233,446 (+119.8%), from €194,808 to €428,254
of which Land and buildings: +€241,584
- Stocks and contracts -€208,453
no longer reported in 2025 (was €208,453)
- Cash +€207,349
up €207,349 (+63.9%), from €324,687 to €532,036
mainly Net result for the year (+€277,313) and Stocks and contracts (+€208,453)
- Reserves +€187,313
up €187,313 (+45.6%), from €411,161 to €598,474
of which Tax-exempt reserves: +€247,287
- Provisions +€82,429
new in 2025: €82,429
- Other debts -€39,874
down €39,874 (-13.8%), from €289,782 to €249,908
- Gross operating margin +€305,644
up €305,644 (+299.5%), from €102,059 to €407,703
- Taxes -€17,481
down €17,481 (-59.2%), from €29,507 to €12,026
- Depreciation +€12,668
up €12,668 (+325.6%), from €3,891 to €16,559
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 | €740,078 | €978,870 | +€238,792 | +32.3% |
| Fixed assets | 21/28 | €194,808 | €428,254 | +€233,446 | +119.8% |
| Tangible fixed assets | 22/27 | €194,808 | €428,254 | +€233,446 | +119.8% |
| Land and buildings | 22 | €150,829 | €392,413 | +€241,584 | +160.2% |
| Furniture and vehicles | 24 | €43,979 | €35,841 | -€8,138 | -18.5% |
| Current assets | 29/58 | €545,270 | €550,617 | +€5,346 | +1.0% |
| Stocks and contracts in progress | 3 | €208,453 | - | -€208,453 | |
| Stocks | 30/36 | €208,453 | - | -€208,453 | |
| Amounts receivable within one year | 40/41 | €8,846 | €13,318 | +€4,472 | +50.6% |
| Other amounts receivable | 41 | €8,846 | €13,318 | +€4,472 | +50.6% |
| Cash at bank and in hand | 54/58 | €324,687 | €532,036 | +€207,349 | +63.9% |
| Deferred charges and accrued income | 490/1 | €3,285 | €5,262 | +€1,977 | +60.2% |
| Total equity and liabilities | 10/49 | €740,078 | €978,870 | +€238,792 | +32.3% |
| Equity | 10/15 | €429,761 | €617,074 | +€187,313 | +43.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €411,161 | €598,474 | +€187,313 | +45.6% |
| Tax-exempt reserves | 132 | - | €247,287 | +€247,287 | |
| Distributable reserves | 133 | €411,161 | €351,187 | -€59,974 | -14.6% |
| Provisions and deferred taxes | 16 | - | €82,429 | +€82,429 | |
| Deferred taxes | 168 | - | €82,429 | +€82,429 | |
| Amounts payable | 17/49 | €310,317 | €279,367 | -€30,950 | -10.0% |
| Amounts payable after more than one year | 17 | €7,437 | €7,437 | = | 0.0% |
| Other amounts payable | 178/9 | €7,437 | €7,437 | = | 0.0% |
| Amounts payable within one year | 42/48 | €299,627 | €268,175 | -€31,452 | -10.5% |
| Trade debts | 44 | €3,405 | €11,107 | +€7,702 | +226.2% |
| Suppliers | 440/4 | €3,405 | €11,107 | +€7,702 | +226.2% |
| Taxes, remuneration and social security | 45 | €6,439 | €7,160 | +€721 | +11.2% |
| Taxes | 450/3 | €6,439 | €7,160 | +€721 | +11.2% |
| Other amounts payable | 47/48 | €289,782 | €249,908 | -€39,874 | -13.8% |
| Accrued charges and deferred income | 492/3 | €3,254 | €3,755 | +€502 | +15.4% |
| Non-recurring operating income | 76A | - | €333,887 | +€333,887 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,891 | €16,559 | +€12,668 | +325.6% |
| Other operating charges | 640/8 | €18,377 | €20,478 | +€2,101 | +11.4% |
| Gross operating margin | 9900 | €102,059 | €407,703 | +€305,644 | +299.5% |
| Operating profit (loss) | 9901 | €79,791 | €370,666 | +€290,875 | +364.5% |
| Financial income | 75/76B | €1,495 | €1,147 | -€348 | -23.3% |
| Recurring financial income | 75 | €1,495 | €1,147 | -€348 | -23.3% |
| Financial charges | 65/66B | €129 | €45 | -€84 | -65.2% |
| Recurring financial charges | 65 | €129 | €45 | -€84 | -65.2% |
| Profit (loss) for the period before taxes | 9903 | €81,157 | €371,768 | +€290,611 | +358.1% |
| Transfer from deferred taxes | 780 | - | €1,043 | +€1,043 | |
| Transfer to deferred taxes | 680 | - | €83,472 | +€83,472 | |
| Income taxes | 67/77 | €29,507 | €12,026 | -€17,481 | -59.2% |
| Profit (loss) for the period | 9904 | €51,650 | €277,313 | +€225,663 | +436.9% |
| Transfer from tax-exempt reserves | 789 | - | €3,128 | +€3,128 | |
| Transfer to tax-exempt reserves | 689 | - | €250,415 | +€250,415 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,650 | €30,026 | -€21,624 | -41.9% |
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.