PUNCH INTERNATIONAL: 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 INTERNATIONAL
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Trade debts +€61,008
up €61,008 (+51.6%), from €118,236 to €179,244
- Short-term financial debts -€44,050
down €44,050 (-93.1%), from €47,303 to €3,253
- Profit (loss) carried forward -€31,567
down €31,567 (-7.1%), from -€446,257 to -€477,824
- Other debts +€30,397
up €30,397 (+2.6%), from €1.2m to €1.2m
- Current portion of long-term debt -€20,000
down €20,000 (-12.5%), from €160,000 to €140,000
- Depreciation -€13,718
down €13,718 (-59.7%), from €22,980 to €9,262
- Other operating charges +€9,973
up €9,973 (+126%), from €7,910 to €17,882
- Financial charges -€5,565
down €5,565 (-36.5%), from €15,247 to €9,682
- Gross operating margin -€2,868
down €2,868 (-52.9%), from €5,421 to €2,553
- Financial income -€1,228
down €1,228 (-22.3%), from €5,504 to €4,276
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,350,314 | €1,345,785 | -€4,529 | -0.3% |
| Fixed assets | 21/28 | €1,171,333 | €1,166,745 | -€4,588 | -0.4% |
| Tangible fixed assets | 22/27 | €66,831 | €62,243 | -€4,588 | -6.9% |
| Land and buildings | 22 | €51,496 | €45,671 | -€5,825 | -11.3% |
| Plant, machinery and equipment | 23 | €546 | €3,787 | +€3,241 | +593% |
| Furniture and vehicles | 24 | €14,788 | €12,785 | -€2,003 | -13.5% |
| Financial fixed assets | 28 | €1,104,502 | €1,104,502 | = | 0.0% |
| Current assets | 29/58 | €178,981 | €179,039 | +€59 | 0.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €178,981 | €179,039 | +€59 | 0.0% |
| Trade receivables | 40 | €27,797 | €23,924 | -€3,873 | -13.9% |
| Other amounts receivable | 41 | €151,183 | €155,115 | +€3,932 | +2.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,350,314 | €1,345,785 | -€4,529 | -0.3% |
| Equity | 10/15 | -€212,753 | -€244,320 | -€31,567 | -14.8% |
| Contributions | 10/11 | €178,500 | €178,500 | = | 0.0% |
| Capital | 10 | €178,500 | €178,500 | = | 0.0% |
| Issued capital | 100 | €178,500 | €178,500 | = | 0.0% |
| Reserves | 13 | €55,004 | €55,004 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,850 | €17,850 | = | 0.0% |
| Legal reserve | 130 | €17,850 | €17,850 | = | 0.0% |
| Tax-exempt reserves | 132 | €36,690 | €36,690 | = | 0.0% |
| Distributable reserves | 133 | €464 | €464 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€446,257 | -€477,824 | -€31,567 | -7.1% |
| Provisions and deferred taxes | 16 | €70,000 | €70,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €70,000 | €70,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,493,067 | €1,520,105 | +€27,038 | +1.8% |
| Amounts payable within one year | 42/48 | €1,492,494 | €1,520,105 | +€27,611 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €160,000 | €140,000 | -€20,000 | -12.5% |
| Financial debts | 43 | €47,303 | €3,253 | -€44,050 | -93.1% |
| Credit institutions | 430/8 | €47,303 | €3,253 | -€44,050 | -93.1% |
| Trade debts | 44 | €118,236 | €179,244 | +€61,008 | +51.6% |
| Suppliers | 440/4 | €118,236 | €179,244 | +€61,008 | +51.6% |
| Taxes, remuneration and social security | 45 | €2,180 | €2,435 | +€255 | +11.7% |
| Taxes | 450/3 | €2,180 | €2,435 | +€255 | +11.7% |
| Other amounts payable | 47/48 | €1,164,776 | €1,195,173 | +€30,397 | +2.6% |
| Accrued charges and deferred income | 492/3 | €573 | €0 | -€573 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,980 | €9,262 | -€13,718 | -59.7% |
| Other operating charges | 640/8 | €7,910 | €17,882 | +€9,973 | +126% |
| Non-recurring operating charges | 66A | €10,999 | €0 | -€10,999 | -100% |
| Gross operating margin | 9900 | €5,421 | €2,553 | -€2,868 | -52.9% |
| Operating profit (loss) | 9901 | -€36,467 | -€24,591 | +€11,877 | +32.6% |
| Financial income | 75/76B | €5,504 | €4,276 | -€1,228 | -22.3% |
| Recurring financial income | 75 | €5,504 | €4,276 | -€1,228 | -22.3% |
| Financial charges | 65/66B | €15,247 | €9,682 | -€5,565 | -36.5% |
| Recurring financial charges | 65 | €15,247 | €9,682 | -€5,565 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | -€46,211 | -€29,997 | +€16,214 | +35.1% |
| Income taxes | 67/77 | €700 | €1,570 | +€871 | +124% |
| Profit (loss) for the period | 9904 | -€46,910 | -€31,567 | +€15,343 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,910 | -€31,567 | +€15,343 | +32.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.