publiq: 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.
publiq
Largest movements
- Receivables within one year +€659,450
up €659,450 (+39.5%), from €1.7m to €2.3m
of which Other amounts receivable: +€422,643
- Current investments +€255,325
up €255,325 (+2181.7%), from €11,703 to €267,028
- Intangible fixed assets -€125,780
down €125,780 (-21.9%), from €573,059 to €447,279
- Cash +€91,511
up €91,511 (+11.9%), from €770,942 to €862,453
mainly Depreciation (+€597,536) and Accrued charges and deferred income (+€540,355)
- Tangible fixed assets -€60,084
down €60,084 (-22.9%), from €262,507 to €202,423
- Profit (loss) carried forward +€978,222
no longer reported in 2025 (was -€978,222)
- Accrued charges and deferred income +€540,355
up €540,355 (+184.2%), from €293,299 to €833,654
- Reserves -€436,998
down €436,998 (-24.6%), from €1.8m to €1.3m
- Debts within one year -€280,415
down €280,415 (-13.5%), from €2.1m to €1.8m
of which Tax, wage and social debts: -€289,409
- Gross operating margin +€1.1m
up €1.1m (+17.7%), from €6.2m to €7.3m
- Staff costs +€826,979
up €826,979 (+14.6%), from €5.7m to €6.5m
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 | €3,378,909 | €4,196,794 | +€817,885 | +24.2% |
| Fixed assets | 21/28 | €861,261 | €681,169 | -€180,092 | -20.9% |
| Intangible fixed assets | 21 | €573,059 | €447,279 | -€125,780 | -21.9% |
| Tangible fixed assets | 22/27 | €262,507 | €202,423 | -€60,084 | -22.9% |
| Plant, machinery and equipment | 23 | €48,535 | €21,669 | -€26,866 | -55.4% |
| Furniture and vehicles | 24 | €37,965 | €33,054 | -€4,911 | -12.9% |
| Other tangible fixed assets | 26 | €176,007 | €147,700 | -€28,307 | -16.1% |
| Financial fixed assets | 28 | €25,695 | €31,467 | +€5,772 | +22.5% |
| Current assets | 29/58 | €2,517,648 | €3,515,624 | +€997,976 | +39.6% |
| Amounts receivable after more than one year | 29 | €5,024 | - | -€5,024 | |
| Other amounts receivable | 291 | €5,024 | - | -€5,024 | |
| Amounts receivable within one year | 40/41 | €1,669,068 | €2,328,518 | +€659,450 | +39.5% |
| Trade receivables | 40 | €632,325 | €869,132 | +€236,807 | +37.5% |
| Other amounts receivable | 41 | €1,036,743 | €1,459,386 | +€422,643 | +40.8% |
| Current investments | 50/53 | €11,703 | €267,028 | +€255,325 | +2181.7% |
| Cash at bank and in hand | 54/58 | €770,942 | €862,453 | +€91,511 | +11.9% |
| Deferred charges and accrued income | 490/1 | €60,911 | €57,626 | -€3,285 | -5.4% |
| Total equity and liabilities | 10/49 | €3,378,909 | €4,196,794 | +€817,885 | +24.2% |
| Equity | 10/15 | €801,521 | €1,342,745 | +€541,224 | +67.5% |
| Reserves | 13 | €1,779,743 | €1,342,745 | -€436,998 | -24.6% |
| Profit (loss) carried forward | 14 | -€978,222 | - | +€978,222 | |
| Provisions and deferred taxes | 16 | €207,561 | €224,282 | +€16,721 | +8.1% |
| Provisions for liabilities and charges | 160/5 | €207,561 | €224,282 | +€16,721 | +8.1% |
| Other liabilities and charges | 164/5 | €207,561 | €224,282 | +€16,721 | +8.1% |
| Amounts payable | 17/49 | €2,369,827 | €2,629,767 | +€259,940 | +11.0% |
| Amounts payable within one year | 42/48 | €2,076,528 | €1,796,113 | -€280,415 | -13.5% |
| Trade debts | 44 | €636,489 | €645,327 | +€8,838 | +1.4% |
| Suppliers | 440/4 | €636,489 | €645,327 | +€8,838 | +1.4% |
| Taxes, remuneration and social security | 45 | €992,085 | €702,676 | -€289,409 | -29.2% |
| Taxes | 450/3 | €178,631 | €84,508 | -€94,123 | -52.7% |
| Remuneration and social security | 454/9 | €813,454 | €618,168 | -€195,286 | -24.0% |
| Accrued charges and deferred income | 492/3 | €293,299 | €833,654 | +€540,355 | +184.2% |
| Non-recurring operating income | 76A | - | €723 | +€723 | |
| Remuneration, social security and pensions | 62 | €5,666,471 | €6,493,450 | +€826,979 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €646,434 | €597,536 | -€48,898 | -7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,270 | -€19 | +€7,251 | +99.7% |
| Other operating charges | 640/8 | €11,792 | €31,815 | +€20,023 | +169.8% |
| Non-recurring operating charges | 66A | - | €492 | +€492 | |
| Gross operating margin | 9900 | €6,193,464 | €7,291,932 | +€1.1m | +17.7% |
| Operating profit (loss) | 9901 | -€123,963 | €151,937 | +€275,900 | |
| Financial income | 75/76B | €40,688 | €5,808 | -€34,880 | -85.7% |
| Recurring financial income | 75 | €40,688 | €5,808 | -€34,880 | -85.7% |
| Financial charges | 65/66B | €1,559 | €7,058 | +€5,499 | +352.7% |
| Recurring financial charges | 65 | €1,559 | €7,058 | +€5,499 | +352.7% |
| Profit (loss) for the period before taxes | 9903 | -€84,834 | €150,686 | +€235,520 | |
| Profit (loss) for the period | 9904 | -€84,834 | €150,686 | +€235,520 | |
| Profit (loss) for the period to be appropriated | 9905 | -€84,834 | €150,686 | +€235,520 |
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 11 October 2026 via checked.be.