PUDDING: 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.
PUDDING
Largest movements
- Tangible fixed assets -€56,654
down €56,654 (-2.6%), from €2.1m to €2.1m
of which Land and buildings: -€40,627
- Receivables within one year -€54,637
down €54,637 (-31.2%), from €175,274 to €120,637
of which Other amounts receivable: -€33,722
- Debts after one year -€170,312
down €170,312 (-12.3%), from €1.4m to €1.2m
- Reserves +€83,000
up €83,000 (+27.7%), from €300,000 to €383,000
- Advances received -€50,000
no longer reported in 2025 (was €50,000)
- Depreciation -€46,151
down €46,151 (-35.9%), from €128,561 to €82,410
- Gross operating margin +€34,434
up €34,434 (+13.9%), from €246,938 to €281,372
- Financial charges +€23,567
up €23,567 (+52.5%), from €44,858 to €68,425
- Taxes +€16,612
up €16,612 (+102.1%), from €16,278 to €32,889
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 | €2,394,051 | €2,264,110 | -€129,940 | -5.4% |
| Fixed assets | 21/28 | €2,142,741 | €2,086,087 | -€56,654 | -2.6% |
| Tangible fixed assets | 22/27 | €2,142,741 | €2,086,087 | -€56,654 | -2.6% |
| Land and buildings | 22 | €2,081,839 | €2,041,212 | -€40,627 | -2.0% |
| Furniture and vehicles | 24 | €60,902 | €44,875 | -€16,027 | -26.3% |
| Current assets | 29/58 | €251,309 | €178,023 | -€73,286 | -29.2% |
| Amounts receivable within one year | 40/41 | €175,274 | €120,637 | -€54,637 | -31.2% |
| Trade receivables | 40 | €141,552 | €120,637 | -€20,915 | -14.8% |
| Other amounts receivable | 41 | €33,722 | - | -€33,722 | |
| Cash at bank and in hand | 54/58 | €75,402 | €52,399 | -€23,003 | -30.5% |
| Deferred charges and accrued income | 490/1 | €633 | €4,987 | +€4,355 | +688.1% |
| Total equity and liabilities | 10/49 | €2,394,051 | €2,264,110 | -€129,940 | -5.4% |
| Equity | 10/15 | €380,291 | €464,062 | +€83,771 | +22.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Revaluation surpluses | 12 | €63,949 | €63,949 | = | 0.0% |
| Reserves | 13 | €300,000 | €383,000 | +€83,000 | +27.7% |
| Distributable reserves | 133 | €300,000 | €383,000 | +€83,000 | +27.7% |
| Profit (loss) carried forward | 14 | €3,942 | €4,713 | +€771 | +19.6% |
| Amounts payable | 17/49 | €2,013,760 | €1,800,048 | -€213,711 | -10.6% |
| Amounts payable after more than one year | 17 | €1,382,525 | €1,212,213 | -€170,312 | -12.3% |
| Financial debts | 170/4 | €1,382,525 | €1,212,213 | -€170,312 | -12.3% |
| Amounts payable within one year | 42/48 | €631,234 | €585,514 | -€45,720 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €211,778 | €197,911 | -€13,867 | -6.5% |
| Trade debts | 44 | €24,542 | €11,085 | -€13,458 | -54.8% |
| Suppliers | 440/4 | €24,542 | €11,085 | -€13,458 | -54.8% |
| Advances received on contracts in progress | 46 | €50,000 | - | -€50,000 | |
| Taxes, remuneration and social security | 45 | €15,572 | €24,912 | +€9,340 | +60.0% |
| Taxes | 450/3 | €12,622 | €21,962 | +€9,340 | +74.0% |
| Remuneration and social security | 454/9 | €2,950 | €2,950 | = | 0.0% |
| Other amounts payable | 47/48 | €329,342 | €351,607 | +€22,265 | +6.8% |
| Accrued charges and deferred income | 492/3 | - | €2,321 | +€2,321 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,561 | €82,410 | -€46,151 | -35.9% |
| Other operating charges | 640/8 | €15,162 | €13,877 | -€1,285 | -8.5% |
| Gross operating margin | 9900 | €246,938 | €281,372 | +€34,434 | +13.9% |
| Operating profit (loss) | 9901 | €103,216 | €185,085 | +€81,870 | +79.3% |
| Financial income | 75/76B | €196 | - | -€196 | |
| Recurring financial income | 75 | €196 | - | -€196 | |
| Financial charges | 65/66B | €44,858 | €68,425 | +€23,567 | +52.5% |
| Recurring financial charges | 65 | €44,858 | €68,425 | +€23,567 | +52.5% |
| Profit (loss) for the period before taxes | 9903 | €58,554 | €116,660 | +€58,107 | +99.2% |
| Income taxes | 67/77 | €16,278 | €32,889 | +€16,612 | +102.1% |
| Profit (loss) for the period | 9904 | €42,276 | €83,771 | +€41,495 | +98.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,276 | €83,771 | +€41,495 | +98.2% |
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.