PUFFS: 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.
PUFFS
Largest movements
- Stocks and contracts -€2,045
down €2,045 (-7.1%), from €28,945 to €26,900
- Receivables within one year -€1,206
down €1,206 (-10.4%), from €11,609 to €10,402
- Cash -€559
down €559 (-87.5%), from €639 to €80
mainly Net result for the year (-€2,734) and Trade debts (-€2,356)
- Profit (loss) carried forward -€2,734
down €2,734 (-29.0%), from -€9,411 to -€12,145
- Trade debts -€2,356
down €2,356 (-53.7%), from €4,385 to €2,029
- Other debts +€1,000
up €1,000 (+284.8%), from €351 to €1,351
- Tax, wage and social debts -€643
no longer reported in 2025 (was €643)
- Debts after one year +€523
up €523 (+2.0%), from €26,129 to €26,652
- Gross operating margin -€2,443
down €2,443, from €940 to -€1,503
- Other operating charges -€2,260
down €2,260 (-74.1%), from €3,049 to €789
- Financial charges -€291
down €291 (-33.6%), from €866 to €575
- Financial income +€134
new in 2025: €134
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 | €41,192 | €37,382 | -€3,810 | -9.3% |
| Current assets | 29/58 | €41,192 | €37,382 | -€3,810 | -9.3% |
| Stocks and contracts in progress | 3 | €28,945 | €26,900 | -€2,045 | -7.1% |
| Stocks | 30/36 | €28,945 | €26,900 | -€2,045 | -7.1% |
| Amounts receivable within one year | 40/41 | €11,609 | €10,402 | -€1,206 | -10.4% |
| Trade receivables | 40 | €11,609 | €10,402 | -€1,206 | -10.4% |
| Cash at bank and in hand | 54/58 | €639 | €80 | -€559 | -87.5% |
| Total equity and liabilities | 10/49 | €41,192 | €37,382 | -€3,810 | -9.3% |
| Equity | 10/15 | €9,684 | €6,951 | -€2,734 | -28.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €495 | €495 | = | 0.0% |
| Distributable reserves | 133 | €495 | €495 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,411 | -€12,145 | -€2,734 | -29.0% |
| Amounts payable | 17/49 | €31,508 | €30,432 | -€1,077 | -3.4% |
| Amounts payable after more than one year | 17 | €26,129 | €26,652 | +€523 | +2.0% |
| Other amounts payable | 178/9 | €26,129 | €26,652 | +€523 | +2.0% |
| Amounts payable within one year | 42/48 | €5,379 | €3,380 | -€1,999 | -37.2% |
| Trade debts | 44 | €4,385 | €2,029 | -€2,356 | -53.7% |
| Suppliers | 440/4 | €4,385 | €2,029 | -€2,356 | -53.7% |
| Taxes, remuneration and social security | 45 | €643 | - | -€643 | |
| Taxes | 450/3 | €643 | - | -€643 | |
| Other amounts payable | 47/48 | €351 | €1,351 | +€1,000 | +284.8% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Other operating charges | 640/8 | €3,049 | €789 | -€2,260 | -74.1% |
| Gross operating margin | 9900 | €940 | -€1,503 | -€2,443 | |
| Operating profit (loss) | 9901 | -€2,109 | -€2,292 | -€183 | -8.7% |
| Financial income | 75/76B | - | €134 | +€134 | |
| Recurring financial income | 75 | - | €134 | +€134 | |
| Financial charges | 65/66B | €866 | €575 | -€291 | -33.6% |
| Recurring financial charges | 65 | €866 | €575 | -€291 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,975 | -€2,734 | +€242 | +8.1% |
| Profit (loss) for the period | 9904 | -€2,975 | -€2,734 | +€242 | +8.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,975 | -€2,734 | +€242 | +8.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.