PUBLIWEST: 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.
PUBLIWEST
Largest movements
- Receivables within one year +€37,583
up €37,583 (+11.8%), from €317,233 to €354,816
- Receivables after one year -€13,500
down €13,500 (-21.9%), from €61,594 to €48,094
- Profit (loss) carried forward +€21,170
up €21,170 (+7.0%), from -€302,033 to -€280,863
- Gross operating margin -€2,952
down €2,952 (-27.7%), from €10,669 to €7,717
- Financial income +€1,453
up €1,453 (+8.0%), from €18,062 to €19,515
- Depreciation -€503
down €503 (-27.9%), from €1,805 to €1,302
- Other operating charges +€479
up €479 (+11.4%), from €4,208 to €4,687
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 | €583,647 | €605,977 | +€22,330 | +3.8% |
| Fixed assets | 21/28 | €203,976 | €202,674 | -€1,302 | -0.6% |
| Tangible fixed assets | 22/27 | €203,976 | €202,674 | -€1,302 | -0.6% |
| Land and buildings | 22 | €203,976 | €202,674 | -€1,302 | -0.6% |
| Current assets | 29/58 | €379,671 | €403,303 | +€23,632 | +6.2% |
| Amounts receivable after more than one year | 29 | €61,594 | €48,094 | -€13,500 | -21.9% |
| Other amounts receivable | 291 | €61,594 | €48,094 | -€13,500 | -21.9% |
| Amounts receivable within one year | 40/41 | €317,233 | €354,816 | +€37,583 | +11.8% |
| Other amounts receivable | 41 | €317,233 | €354,816 | +€37,583 | +11.8% |
| Cash at bank and in hand | 54/58 | €845 | €394 | -€451 | -53.4% |
| Total equity and liabilities | 10/49 | €583,647 | €605,977 | +€22,330 | +3.8% |
| Equity | 10/15 | €580,139 | €601,308 | +€21,170 | +3.6% |
| Contributions | 10/11 | €867,627 | €867,627 | = | 0.0% |
| Capital | 10 | €867,627 | €867,627 | = | 0.0% |
| Issued capital | 100 | €867,627 | €867,627 | = | 0.0% |
| Reserves | 13 | €14,544 | €14,544 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,544 | €14,544 | = | 0.0% |
| Legal reserve | 130 | €14,307 | €14,307 | = | 0.0% |
| Reserves not available under the articles | 1311 | €237 | €237 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€302,033 | -€280,863 | +€21,170 | +7.0% |
| Amounts payable | 17/49 | €3,508 | €4,669 | +€1,160 | +33.1% |
| Amounts payable within one year | 42/48 | - | €4,669 | +€4,669 | |
| Trade debts | 44 | - | €4,669 | +€4,669 | |
| Suppliers | 440/4 | - | €4,669 | +€4,669 | |
| Accrued charges and deferred income | 492/3 | €3,508 | - | -€3,508 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,805 | €1,302 | -€503 | -27.9% |
| Other operating charges | 640/8 | €4,208 | €4,687 | +€479 | +11.4% |
| Gross operating margin | 9900 | €10,669 | €7,717 | -€2,952 | -27.7% |
| Operating profit (loss) | 9901 | €4,657 | €1,728 | -€2,928 | -62.9% |
| Financial income | 75/76B | €18,062 | €19,515 | +€1,453 | +8.0% |
| Recurring financial income | 75 | €18,062 | €19,515 | +€1,453 | +8.0% |
| Financial charges | 65/66B | €75 | €74 | -€2 | -2.1% |
| Recurring financial charges | 65 | €75 | €74 | -€2 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €22,644 | €21,170 | -€1,474 | -6.5% |
| Profit (loss) for the period | 9904 | €22,644 | €21,170 | -€1,474 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,644 | €21,170 | -€1,474 | -6.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.