PUMM: 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.
PUMM
Largest movements
- Receivables within one year -€24,071
down €24,071 (-32.1%), from €74,918 to €50,847
of which Trade receivables: -€25,934
- Deferred charges and accrued income -€10,548
no longer reported in 2025 (was €10,548)
- Tangible fixed assets -€9,784
down €9,784 (-17.3%), from €56,586 to €46,802
of which Furniture and vehicles: -€16,153
- Cash +€3,104
up €3,104 (+83.6%), from €3,712 to €6,816
mainly Receivables within one year (+€24,071) and Depreciation (+€19,041)
- Other debts -€26,882
down €26,882 (-63.2%), from €42,522 to €15,640
- Tax, wage and social debts -€20,378
down €20,378 (-81.8%), from €24,914 to €4,536
of which Remuneration and social security: -€12,012
- Reserves +€15,623
up €15,623 (+3124.7%), from €500 to €16,123
of which Distributable reserves: +€15,623
- Debts after one year -€12,500
down €12,500 (-43.9%), from €28,469 to €15,969
- Trade debts +€2,838
new in 2025: €2,838
- Gross operating margin +€15,016
up €15,016 (+56.4%), from €26,609 to €41,625
- Taxes +€2,733
up €2,733 (+151.6%), from €1,803 to €4,536
- Financial charges +€1,477
up €1,477 (+2875.5%), from €51 to €1,529
- Depreciation +€1,266
up €1,266 (+7.1%), from €17,774 to €19,041
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 | €145,763 | €104,464 | -€41,299 | -28.3% |
| Fixed assets | 21/28 | €56,586 | €46,802 | -€9,784 | -17.3% |
| Tangible fixed assets | 22/27 | €56,586 | €46,802 | -€9,784 | -17.3% |
| Plant, machinery and equipment | 23 | €8,083 | €14,452 | +€6,369 | +78.8% |
| Furniture and vehicles | 24 | €48,503 | €32,350 | -€16,153 | -33.3% |
| Current assets | 29/58 | €89,177 | €57,662 | -€31,515 | -35.3% |
| Amounts receivable within one year | 40/41 | €74,918 | €50,847 | -€24,071 | -32.1% |
| Trade receivables | 40 | €73,634 | €47,700 | -€25,934 | -35.2% |
| Other amounts receivable | 41 | €1,284 | €3,147 | +€1,863 | +145.2% |
| Cash at bank and in hand | 54/58 | €3,712 | €6,816 | +€3,104 | +83.6% |
| Deferred charges and accrued income | 490/1 | €10,548 | - | -€10,548 | |
| Total equity and liabilities | 10/49 | €145,763 | €104,464 | -€41,299 | -28.3% |
| Equity | 10/15 | €37,357 | €52,980 | +€15,623 | +41.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | €5,000 | = | 0.0% |
| Issued capital | 100 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €500 | €16,123 | +€15,623 | +3124.7% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Legal reserve | 130 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | - | €15,623 | +€15,623 | |
| Profit (loss) carried forward | 14 | €31,857 | €31,857 | = | 0.0% |
| Amounts payable | 17/49 | €108,406 | €51,484 | -€56,922 | -52.5% |
| Amounts payable after more than one year | 17 | €28,469 | €15,969 | -€12,500 | -43.9% |
| Financial debts | 170/4 | €28,469 | €15,969 | -€12,500 | -43.9% |
| Amounts payable within one year | 42/48 | €79,937 | €35,515 | -€44,422 | -55.6% |
| Current portion of amounts payable after more than one year | 42 | €12,501 | €12,500 | -€1 | 0.0% |
| Trade debts | 44 | - | €2,838 | +€2,838 | |
| Suppliers | 440/4 | - | €2,838 | +€2,838 | |
| Taxes, remuneration and social security | 45 | €24,914 | €4,536 | -€20,378 | -81.8% |
| Taxes | 450/3 | €12,902 | €4,536 | -€8,366 | -64.8% |
| Remuneration and social security | 454/9 | €12,012 | - | -€12,012 | |
| Other amounts payable | 47/48 | €42,522 | €15,640 | -€26,882 | -63.2% |
| Remuneration, social security and pensions | 62 | €96 | - | -€96 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,774 | €19,041 | +€1,266 | +7.1% |
| Other operating charges | 640/8 | €655 | €896 | +€241 | +36.9% |
| Gross operating margin | 9900 | €26,609 | €41,625 | +€15,016 | +56.4% |
| Operating profit (loss) | 9901 | €8,083 | €21,688 | +€13,605 | +168.3% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €51 | €1,529 | +€1,477 | +2875.5% |
| Recurring financial charges | 65 | €51 | €1,529 | +€1,477 | +2875.5% |
| Profit (loss) for the period before taxes | 9903 | €8,035 | €20,160 | +€12,125 | +150.9% |
| Income taxes | 67/77 | €1,803 | €4,536 | +€2,733 | +151.6% |
| Profit (loss) for the period | 9904 | €6,232 | €15,623 | +€9,391 | +150.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,232 | €15,623 | +€9,391 | +150.7% |
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 10 October 2026 via checked.be.