PUCCINI: 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.
PUCCINI
Largest movements
- Tangible fixed assets -€15,263
down €15,263 (-11.3%), from €135,447 to €120,185
of which Furniture and vehicles: -€14,402
- Receivables within one year +€13,153
up €13,153 (+115%), from €11,475 to €24,628
- Cash -€1,705
down €1,705 (-74.8%), from €2,281 to €576
mainly Receivables within one year (-€13,153) and Debts after one year (-€8,222)
- Debts after one year -€8,222
down €8,222 (-47.2%), from €17,420 to €9,198
- Reserves +€3,970
up €3,970 (+3.7%), from €106,769 to €110,738
- Gross operating margin -€2,487
down €2,487 (-9.7%), from €25,706 to €23,219
- Taxes -€1,387
down €1,387 (-87.1%), from €1,593 to €206
- Financial income +€460
up €460, from €0 to €460
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 | €151,050 | €146,767 | -€4,282 | -2.8% |
| Fixed assets | 21/28 | €135,447 | €120,185 | -€15,263 | -11.3% |
| Tangible fixed assets | 22/27 | €135,447 | €120,185 | -€15,263 | -11.3% |
| Land and buildings | 22 | €91,924 | €91,064 | -€860 | -0.9% |
| Furniture and vehicles | 24 | €43,523 | €29,121 | -€14,402 | -33.1% |
| Current assets | 29/58 | €15,602 | €26,583 | +€10,981 | +70.4% |
| Amounts receivable within one year | 40/41 | €11,475 | €24,628 | +€13,153 | +115% |
| Other amounts receivable | 41 | €11,475 | €24,628 | +€13,153 | +115% |
| Cash at bank and in hand | 54/58 | €2,281 | €576 | -€1,705 | -74.8% |
| Deferred charges and accrued income | 490/1 | €1,847 | €1,379 | -€468 | -25.3% |
| Total equity and liabilities | 10/49 | €151,050 | €146,767 | -€4,282 | -2.8% |
| Equity | 10/15 | €125,361 | €129,330 | +€3,970 | +3.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €106,769 | €110,738 | +€3,970 | +3.7% |
| Distributable reserves | 133 | €106,769 | €110,738 | +€3,970 | +3.7% |
| Amounts payable | 17/49 | €25,689 | €17,437 | -€8,252 | -32.1% |
| Amounts payable after more than one year | 17 | €17,420 | €9,198 | -€8,222 | -47.2% |
| Financial debts | 170/4 | €17,420 | €9,198 | -€8,222 | -47.2% |
| Amounts payable within one year | 42/48 | €8,269 | €8,239 | -€30 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €7,972 | €8,222 | +€250 | +3.1% |
| Trade debts | 44 | €297 | €17 | -€280 | -94.3% |
| Suppliers | 440/4 | €297 | €17 | -€280 | -94.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,263 | €15,263 | = | 0.0% |
| Other operating charges | 640/8 | €3,049 | €3,146 | +€96 | +3.2% |
| Gross operating margin | 9900 | €25,706 | €23,219 | -€2,487 | -9.7% |
| Operating profit (loss) | 9901 | €7,394 | €4,811 | -€2,583 | -34.9% |
| Financial income | 75/76B | €0 | €460 | +€460 | |
| Recurring financial income | 75 | €0 | €460 | +€460 | |
| Financial charges | 65/66B | €1,318 | €1,095 | -€223 | -16.9% |
| Recurring financial charges | 65 | €1,318 | €1,095 | -€223 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €6,076 | €4,176 | -€1,901 | -31.3% |
| Income taxes | 67/77 | €1,593 | €206 | -€1,387 | -87.1% |
| Profit (loss) for the period | 9904 | €4,484 | €3,970 | -€514 | -11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,484 | €3,970 | -€514 | -11.5% |
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 18 October 2026 via checked.be.