PUDA: 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.
PUDA
Largest movements
- Cash +€9,837
up €9,837 (+89.9%), from €10,947 to €20,784
mainly Net result for the year (+€22,403) and Depreciation (+€16,063)
- Stocks and contracts +€7,240
up €7,240 (+159.9%), from €4,527 to €11,768
- Receivables within one year +€6,857
up €6,857 (+37.5%), from €18,265 to €25,122
of which Other amounts receivable: +€6,608
- Tangible fixed assets +€6,157
up €6,157 (+20.9%), from €29,405 to €35,562
of which Other tangible fixed assets: +€20,871
- Receivables after one year -€3,940
down €3,940 (-100.0%), from €3,940 to €0
- Reserves +€22,403
up €22,403 (+96.9%), from €23,119 to €45,522
- Current portion of long-term debt +€6,717
up €6,717 (+44.6%), from €15,045 to €21,762
- Debts after one year -€5,534
down €5,534 (-48.5%), from €11,406 to €5,871
- Trade debts +€1,963
up €1,963 (+5069.5%), from €39 to €2,002
- Tax, wage and social debts +€1,940
up €1,940 (+242.8%), from €799 to €2,739
- Gross operating margin +€26,472
up €26,472 (+102.2%), from €25,895 to €52,367
- Taxes +€6,897
up €6,897 (+350.8%), from €1,966 to €8,862
- Depreciation -€1,421
down €1,421 (-8.1%), from €17,484 to €16,063
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 | €69,007 | €96,496 | +€27,490 | +39.8% |
| Fixed assets | 21/28 | €29,405 | €35,562 | +€6,157 | +20.9% |
| Tangible fixed assets | 22/27 | €29,405 | €35,562 | +€6,157 | +20.9% |
| Plant, machinery and equipment | 23 | €1,497 | €1,320 | -€177 | -11.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €27,909 | €13,371 | -€14,537 | -52.1% |
| Other tangible fixed assets | 26 | - | €20,871 | +€20,871 | |
| Current assets | 29/58 | €39,602 | €60,934 | +€21,333 | +53.9% |
| Amounts receivable after more than one year | 29 | €3,940 | €0 | -€3,940 | -100.0% |
| Other amounts receivable | 291 | €3,940 | €0 | -€3,940 | -100.0% |
| Stocks and contracts in progress | 3 | €4,527 | €11,768 | +€7,240 | +159.9% |
| Stocks | 30/36 | €4,527 | €11,768 | +€7,240 | +159.9% |
| Amounts receivable within one year | 40/41 | €18,265 | €25,122 | +€6,857 | +37.5% |
| Trade receivables | 40 | €7,250 | €7,499 | +€249 | +3.4% |
| Other amounts receivable | 41 | €11,015 | €17,623 | +€6,608 | +60.0% |
| Cash at bank and in hand | 54/58 | €10,947 | €20,784 | +€9,837 | +89.9% |
| Deferred charges and accrued income | 490/1 | €1,922 | €3,261 | +€1,339 | +69.7% |
| Total equity and liabilities | 10/49 | €69,007 | €96,496 | +€27,490 | +39.8% |
| Equity | 10/15 | €41,719 | €64,122 | +€22,403 | +53.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,119 | €45,522 | +€22,403 | +96.9% |
| Distributable reserves | 133 | €23,119 | €45,522 | +€22,403 | +96.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €27,288 | €32,374 | +€5,087 | +18.6% |
| Amounts payable after more than one year | 17 | €11,406 | €5,871 | -€5,534 | -48.5% |
| Financial debts | 170/4 | €11,406 | €5,871 | -€5,534 | -48.5% |
| Amounts payable within one year | 42/48 | €15,882 | €26,503 | +€10,621 | +66.9% |
| Current portion of amounts payable after more than one year | 42 | €15,045 | €21,762 | +€6,717 | +44.6% |
| Trade debts | 44 | €39 | €2,002 | +€1,963 | +5069.5% |
| Suppliers | 440/4 | €39 | €2,002 | +€1,963 | +5069.5% |
| Taxes, remuneration and social security | 45 | €799 | €2,739 | +€1,940 | +242.8% |
| Taxes | 450/3 | €799 | €2,739 | +€1,940 | +242.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,484 | €16,063 | -€1,421 | -8.1% |
| Other operating charges | 640/8 | €2,327 | €2,767 | +€440 | +18.9% |
| Non-recurring operating charges | 66A | - | €1,500 | +€1,500 | |
| Gross operating margin | 9900 | €25,895 | €52,367 | +€26,472 | +102.2% |
| Operating profit (loss) | 9901 | €6,084 | €32,036 | +€25,953 | +426.6% |
| Financial income | 75/76B | €746 | €795 | +€49 | +6.6% |
| Recurring financial income | 75 | €746 | €795 | +€49 | +6.6% |
| Financial charges | 65/66B | €1,054 | €1,566 | +€512 | +48.6% |
| Recurring financial charges | 65 | €1,054 | €1,566 | +€512 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | €5,776 | €31,265 | +€25,489 | +441.3% |
| Income taxes | 67/77 | €1,966 | €8,862 | +€6,897 | +350.8% |
| Profit (loss) for the period | 9904 | €3,810 | €22,403 | +€18,593 | +487.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,810 | €22,403 | +€18,593 | +487.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.