PUKA: 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.
PUKA
Largest movements
- Cash +€15,182
up €15,182 (+38.0%), from €39,983 to €55,164
mainly Current portion of long-term debt (+€67,934) and Net result for the year (+€27,487)
- Tangible fixed assets +€10,942
up €10,942 (+4.4%), from €248,785 to €259,727
of which Plant, machinery and equipment: +€14,488
- Receivables within one year +€6,604
up €6,604 (+36.0%), from €18,336 to €24,940
of which Other amounts receivable: +€6,604
- Current portion of long-term debt +€67,934
new in 2025: €67,934
- Debts after one year -€65,932
down €65,932 (-65.9%), from €100,000 to €34,068
- Reserves +€27,480
up €27,480 (+14.2%), from €193,000 to €220,480
of which Distributable reserves: +€29,340
- Trade debts +€4,066
up €4,066 (+202.9%), from €2,004 to €6,070
- Depreciation -€26,686
down €26,686 (-79.8%), from €33,424 to €6,738
- Gross operating margin -€5,961
down €5,961 (-10.7%), from €55,694 to €49,733
- Taxes +€5,125
up €5,125 (+66.4%), from €7,721 to €12,846
- Financial income -€2,149
down €2,149 (-93.2%), from €2,306 to €157
- Financial charges +€1,979
up €1,979 (+2114.9%), from €94 to €2,073
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 | €307,409 | €341,894 | +€34,486 | +11.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €248,785 | €259,727 | +€10,942 | +4.4% |
| Tangible fixed assets | 22/27 | €248,785 | €259,727 | +€10,942 | +4.4% |
| Land and buildings | 22 | €248,483 | €243,293 | -€5,190 | -2.1% |
| Plant, machinery and equipment | 23 | - | €14,488 | +€14,488 | |
| Furniture and vehicles | 24 | €303 | €1,947 | +€1,644 | +543.5% |
| Current assets | 29/58 | €58,623 | €82,167 | +€23,544 | +40.2% |
| Amounts receivable within one year | 40/41 | €18,336 | €24,940 | +€6,604 | +36.0% |
| Trade receivables | 40 | €6,548 | €6,548 | = | 0.0% |
| Other amounts receivable | 41 | €11,789 | €18,393 | +€6,604 | +56.0% |
| Cash at bank and in hand | 54/58 | €39,983 | €55,164 | +€15,182 | +38.0% |
| Deferred charges and accrued income | 490/1 | €304 | €2,063 | +€1,758 | +577.6% |
| Total equity and liabilities | 10/49 | €307,409 | €341,894 | +€34,486 | +11.2% |
| Equity | 10/15 | €200,480 | €227,967 | +€27,487 | +13.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €193,000 | €220,480 | +€27,480 | +14.2% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €191,140 | €220,480 | +€29,340 | +15.4% |
| Profit (loss) carried forward | 14 | €1,280 | €1,287 | +€7 | +0.6% |
| Amounts payable | 17/49 | €106,929 | €113,927 | +€6,998 | +6.5% |
| Amounts payable after more than one year | 17 | €100,000 | €34,068 | -€65,932 | -65.9% |
| Financial debts | 170/4 | €100,000 | €34,068 | -€65,932 | -65.9% |
| Amounts payable within one year | 42/48 | €6,929 | €79,859 | +€72,930 | +1052.6% |
| Current portion of amounts payable after more than one year | 42 | - | €67,934 | +€67,934 | |
| Trade debts | 44 | €2,004 | €6,070 | +€4,066 | +202.9% |
| Suppliers | 440/4 | €2,004 | €6,070 | +€4,066 | +202.9% |
| Taxes, remuneration and social security | 45 | €4,925 | €5,855 | +€930 | +18.9% |
| Taxes | 450/3 | €4,925 | €5,855 | +€930 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,424 | €6,738 | -€26,686 | -79.8% |
| Other operating charges | 640/8 | €215 | €745 | +€530 | +246.7% |
| Gross operating margin | 9900 | €55,694 | €49,733 | -€5,961 | -10.7% |
| Operating profit (loss) | 9901 | €22,055 | €42,249 | +€20,195 | +91.6% |
| Financial income | 75/76B | €2,306 | €157 | -€2,149 | -93.2% |
| Recurring financial income | 75 | €2,306 | €157 | -€2,149 | -93.2% |
| Financial charges | 65/66B | €94 | €2,073 | +€1,979 | +2114.9% |
| Recurring financial charges | 65 | €94 | €2,073 | +€1,979 | +2114.9% |
| Profit (loss) for the period before taxes | 9903 | €24,267 | €40,334 | +€16,066 | +66.2% |
| Income taxes | 67/77 | €7,721 | €12,846 | +€5,125 | +66.4% |
| Profit (loss) for the period | 9904 | €16,546 | €27,487 | +€10,941 | +66.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,546 | €27,487 | +€10,941 | +66.1% |
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 1 October 2026 via checked.be.