PUNCH: 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.
PUNCH
Largest movements
- Tangible fixed assets +€19,967
up €19,967 (+146%), from €13,658 to €33,625
of which Furniture and vehicles: +€17,522
- Deferred charges and accrued income +€16,652
up €16,652 (+787%), from €2,115 to €18,767
- Cash +€6,351
up €6,351 (+8.0%), from €79,763 to €86,114
mainly Net result for the year (+€27,017) and Depreciation (+€6,449)
- Receivables within one year -€5,471
down €5,471 (-64.0%), from €8,552 to €3,082
of which Other amounts receivable: -€5,305
- Reserves +€26,500
up €26,500 (+57.6%), from €46,000 to €72,500
- Tax, wage and social debts +€5,592
up €5,592 (+19.2%), from €29,118 to €34,710
- Trade debts +€4,890
up €4,890 (+61.1%), from €8,001 to €12,890
- Gross operating margin -€23,711
down €23,711 (-32.9%), from €72,034 to €48,323
- Taxes -€7,651
down €7,651 (-36.0%), from €21,246 to €13,595
- Depreciation +€3,833
up €3,833 (+147%), from €2,616 to €6,449
- Other operating charges +€750
up €750 (+103%), from €731 to €1,481
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.
Derived cash bridge
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 | €104,088 | €141,588 | +€37,500 | +36.0% |
| Fixed assets | 21/28 | €13,658 | €33,625 | +€19,967 | +146% |
| Tangible fixed assets | 22/27 | €13,658 | €33,625 | +€19,967 | +146% |
| Furniture and vehicles | 24 | €11,862 | €29,384 | +€17,522 | +148% |
| Other tangible fixed assets | 26 | €1,796 | €4,241 | +€2,445 | +136% |
| Current assets | 29/58 | €90,430 | €107,963 | +€17,532 | +19.4% |
| Amounts receivable within one year | 40/41 | €8,552 | €3,082 | -€5,471 | -64.0% |
| Trade receivables | 40 | €407 | €241 | -€166 | -40.9% |
| Other amounts receivable | 41 | €8,145 | €2,841 | -€5,305 | -65.1% |
| Cash at bank and in hand | 54/58 | €79,763 | €86,114 | +€6,351 | +8.0% |
| Deferred charges and accrued income | 490/1 | €2,115 | €18,767 | +€16,652 | +787% |
| Total equity and liabilities | 10/49 | €104,088 | €141,588 | +€37,500 | +36.0% |
| Equity | 10/15 | €66,970 | €93,987 | +€27,017 | +40.3% |
| Contributions | 10/11 | €20,452 | €20,452 | = | 0.0% |
| Reserves | 13 | €46,000 | €72,500 | +€26,500 | +57.6% |
| Distributable reserves | 133 | €46,000 | €72,500 | +€26,500 | +57.6% |
| Profit (loss) carried forward | 14 | €518 | €1,035 | +€517 | +99.9% |
| Amounts payable | 17/49 | €37,119 | €47,601 | +€10,482 | +28.2% |
| Amounts payable within one year | 42/48 | €37,119 | €47,601 | +€10,482 | +28.2% |
| Trade debts | 44 | €8,001 | €12,890 | +€4,890 | +61.1% |
| Suppliers | 440/4 | €8,001 | €12,890 | +€4,890 | +61.1% |
| Taxes, remuneration and social security | 45 | €29,118 | €34,710 | +€5,592 | +19.2% |
| Taxes | 450/3 | €29,118 | €34,710 | +€5,592 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,616 | €6,449 | +€3,833 | +147% |
| Other operating charges | 640/8 | €731 | €1,481 | +€750 | +103% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €72,034 | €48,323 | -€23,711 | -32.9% |
| Operating profit (loss) | 9901 | €68,687 | €40,393 | -€28,294 | -41.2% |
| Financial income | 75/76B | €449 | €446 | -€3 | -0.8% |
| Recurring financial income | 75 | €449 | €446 | -€3 | -0.8% |
| Financial charges | 65/66B | €161 | €227 | +€66 | +41.2% |
| Recurring financial charges | 65 | €161 | €227 | +€66 | +41.2% |
| Profit (loss) for the period before taxes | 9903 | €68,975 | €40,612 | -€28,363 | -41.1% |
| Income taxes | 67/77 | €21,246 | €13,595 | -€7,651 | -36.0% |
| Profit (loss) for the period | 9904 | €47,730 | €27,017 | -€20,712 | -43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €47,730 | €27,017 | -€20,712 | -43.4% |
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 21 October 2026 via checked.be.