Publipand: 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.
Publipand
Largest movements
- Receivables within one year +€23,356
up €23,356 (+75.4%), from €30,965 to €54,322
of which Trade receivables: +€25,695
- Intangible fixed assets -€2,755
no longer reported in 2025 (was €2,755)
- Stocks and contracts +€2,000
up €2,000 (+9.0%), from €22,149 to €24,149
- Trade debts +€10,195
up €10,195 (+1244.3%), from €819 to €11,014
- Reserves +€6,792
up €6,792 (+6.2%), from €109,350 to €116,142
of which Distributable reserves: +€6,792
- Debts after one year +€5,523
new in 2025: €5,523
- Tax, wage and social debts +€3,292
up €3,292 (+22.6%), from €14,596 to €17,888
of which Taxes: +€1,860
- Current portion of long-term debt -€2,215
down €2,215 (-36.4%), from €6,085 to €3,870
- Staff costs +€15,828
up €15,828 (+33.4%), from €47,372 to €63,200
- Gross operating margin +€11,290
up €11,290 (+14.7%), from €76,956 to €88,247
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 | €135,851 | €159,436 | +€23,586 | +17.4% |
| Fixed assets | 21/28 | €17,259 | €14,871 | -€2,388 | -13.8% |
| Intangible fixed assets | 21 | €2,755 | - | -€2,755 | |
| Tangible fixed assets | 22/27 | €14,504 | €14,871 | +€367 | +2.5% |
| Plant, machinery and equipment | 23 | €13,721 | €5,996 | -€7,725 | -56.3% |
| Furniture and vehicles | 24 | €783 | €8,875 | +€8,092 | +1033.5% |
| Current assets | 29/58 | €118,592 | €144,565 | +€25,973 | +21.9% |
| Stocks and contracts in progress | 3 | €22,149 | €24,149 | +€2,000 | +9.0% |
| Stocks | 30/36 | €22,149 | €24,149 | +€2,000 | +9.0% |
| Amounts receivable within one year | 40/41 | €30,965 | €54,322 | +€23,356 | +75.4% |
| Trade receivables | 40 | €27,047 | €52,742 | +€25,695 | +95.0% |
| Other amounts receivable | 41 | €3,918 | €1,579 | -€2,339 | -59.7% |
| Cash at bank and in hand | 54/58 | €62,478 | €63,335 | +€857 | +1.4% |
| Deferred charges and accrued income | 490/1 | €3,000 | €2,760 | -€240 | -8.0% |
| Total equity and liabilities | 10/49 | €135,851 | €159,436 | +€23,586 | +17.4% |
| Equity | 10/15 | €114,350 | €121,142 | +€6,792 | +5.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €109,350 | €116,142 | +€6,792 | +6.2% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €108,850 | €115,642 | +€6,792 | +6.2% |
| Amounts payable | 17/49 | €21,501 | €38,294 | +€16,794 | +78.1% |
| Amounts payable after more than one year | 17 | - | €5,523 | +€5,523 | |
| Financial debts | 170/4 | - | €5,523 | +€5,523 | |
| Amounts payable within one year | 42/48 | €21,501 | €32,772 | +€11,271 | +52.4% |
| Current portion of amounts payable after more than one year | 42 | €6,085 | €3,870 | -€2,215 | -36.4% |
| Trade debts | 44 | €819 | €11,014 | +€10,195 | +1244.3% |
| Suppliers | 440/4 | €819 | €11,014 | +€10,195 | +1244.3% |
| Taxes, remuneration and social security | 45 | €14,596 | €17,888 | +€3,292 | +22.6% |
| Taxes | 450/3 | €8,620 | €10,480 | +€1,860 | +21.6% |
| Remuneration and social security | 454/9 | €5,976 | €7,407 | +€1,431 | +24.0% |
| Remuneration, social security and pensions | 62 | €47,372 | €63,200 | +€15,828 | +33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,981 | €14,533 | +€551 | +3.9% |
| Other operating charges | 640/8 | €1,617 | €978 | -€639 | -39.5% |
| Gross operating margin | 9900 | €76,956 | €88,247 | +€11,290 | +14.7% |
| Operating profit (loss) | 9901 | €13,987 | €9,536 | -€4,451 | -31.8% |
| Financial income | 75/76B | €51 | €782 | +€732 | +1439.3% |
| Recurring financial income | 75 | €51 | €782 | +€732 | +1439.3% |
| Financial charges | 65/66B | €949 | €465 | -€484 | -51.0% |
| Recurring financial charges | 65 | €860 | €465 | -€395 | -45.9% |
| Non-recurring financial charges | 66B | €89 | - | -€89 | |
| Profit (loss) for the period before taxes | 9903 | €13,088 | €9,853 | -€3,235 | -24.7% |
| Income taxes | 67/77 | €3,582 | €3,062 | -€520 | -14.5% |
| Profit (loss) for the period | 9904 | €9,507 | €6,792 | -€2,715 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,507 | €6,792 | -€2,715 | -28.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.