PUBLISIMO: 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.
PUBLISIMO
Largest movements
- Receivables within one year -€2,617
down €2,617 (-13.0%), from €20,100 to €17,483
of which Trade receivables: -€2,399
- Cash +€1,306
up €1,306 (+6.2%), from €21,097 to €22,403
mainly Net result for the year (+€12,168) and Receivables within one year (+€2,617)
- Tangible fixed assets -€501
down €501 (-78.9%), from €635 to €134
of which Plant, machinery and equipment: -€331
- Profit (loss) carried forward +€20,304
up €20,304 (+91.9%), from -€22,103 to -€1,799
- Trade debts -€9,678
down €9,678 (-42.4%), from €22,837 to €13,159
- Reserves -€8,136
down €8,136 (-30.9%), from €26,367 to €18,231
of which Distributable reserves: -€8,136
- Debts after one year -€3,014
no longer reported in 2025 (was €3,014)
- Current portion of long-term debt -€2,862
down €2,862 (-48.7%), from €5,876 to €3,014
- Gross operating margin +€18,723
up €18,723, from -€1,202 to €17,521
- Taxes +€1,014
up €1,014 (+392%), from €259 to €1,273
- Other operating charges -€529
down €529 (-35.8%), from €1,477 to €948
- Depreciation -€327
down €327 (-39.5%), from €828 to €501
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.
Derived cash bridge
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 | €43,847 | €41,680 | -€2,167 | -4.9% |
| Fixed assets | 21/28 | €635 | €134 | -€501 | -78.9% |
| Tangible fixed assets | 22/27 | €635 | €134 | -€501 | -78.9% |
| Plant, machinery and equipment | 23 | €331 | - | -€331 | |
| Furniture and vehicles | 24 | €304 | €134 | -€170 | -55.9% |
| Current assets | 29/58 | €43,212 | €41,546 | -€1,666 | -3.9% |
| Stocks and contracts in progress | 3 | €1,087 | €845 | -€242 | -22.3% |
| Stocks | 30/36 | €1,087 | €845 | -€242 | -22.3% |
| Amounts receivable within one year | 40/41 | €20,100 | €17,483 | -€2,617 | -13.0% |
| Trade receivables | 40 | €18,926 | €16,527 | -€2,399 | -12.7% |
| Other amounts receivable | 41 | €1,174 | €956 | -€218 | -18.6% |
| Cash at bank and in hand | 54/58 | €21,097 | €22,403 | +€1,306 | +6.2% |
| Deferred charges and accrued income | 490/1 | €928 | €815 | -€113 | -12.2% |
| Total equity and liabilities | 10/49 | €43,847 | €41,680 | -€2,167 | -4.9% |
| Equity | 10/15 | €10,789 | €22,957 | +€12,168 | +113% |
| Contributions | 10/11 | €6,525 | €6,525 | = | 0.0% |
| Reserves | 13 | €26,367 | €18,231 | -€8,136 | -30.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €24,507 | €16,371 | -€8,136 | -33.2% |
| Profit (loss) carried forward | 14 | -€22,103 | -€1,799 | +€20,304 | +91.9% |
| Amounts payable | 17/49 | €33,058 | €18,723 | -€14,335 | -43.4% |
| Amounts payable after more than one year | 17 | €3,014 | - | -€3,014 | |
| Financial debts | 170/4 | €3,014 | - | -€3,014 | |
| Amounts payable within one year | 42/48 | €30,044 | €18,723 | -€11,321 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €5,876 | €3,014 | -€2,862 | -48.7% |
| Trade debts | 44 | €22,837 | €13,159 | -€9,678 | -42.4% |
| Suppliers | 440/4 | €22,837 | €13,159 | -€9,678 | -42.4% |
| Advances received on contracts in progress | 46 | €96 | - | -€96 | |
| Taxes, remuneration and social security | 45 | €1,235 | €2,550 | +€1,315 | +106% |
| Taxes | 450/3 | €1,235 | €2,550 | +€1,315 | +106% |
| Remuneration, social security and pensions | 62 | €286 | €175 | -€111 | -38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €828 | €501 | -€327 | -39.5% |
| Other operating charges | 640/8 | €1,477 | €948 | -€529 | -35.8% |
| Non-recurring operating charges | 66A | €4,814 | €1,289 | -€3,525 | -73.2% |
| Gross operating margin | 9900 | -€1,202 | €17,521 | +€18,723 | |
| Operating profit (loss) | 9901 | -€8,607 | €14,608 | +€23,215 | |
| Financial income | 75/76B | €42 | €100 | +€58 | +138% |
| Recurring financial income | 75 | €42 | €100 | +€58 | +138% |
| Financial charges | 65/66B | €1,431 | €1,267 | -€164 | -11.5% |
| Recurring financial charges | 65 | €1,431 | €1,267 | -€164 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,996 | €13,441 | +€23,437 | |
| Income taxes | 67/77 | €259 | €1,273 | +€1,014 | +392% |
| Profit (loss) for the period | 9904 | -€10,255 | €12,168 | +€22,423 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,255 | €12,168 | +€22,423 |
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 25 October 2026 via checked.be.