PUNT: 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.
PUNT
Largest movements
- Tangible fixed assets -€18,529
down €18,529 (-11.2%), from €165,807 to €147,278
of which Land and buildings: -€16,977
- Cash +€12,202
up €12,202 (+7.5%), from €162,107 to €174,309
mainly Other debts (+€30,945) and Depreciation (+€21,047)
- Receivables within one year +€3,495
up €3,495 (+212.9%), from €1,642 to €5,137
of which Trade receivables: +€4,840
- Other debts +€30,945
up €30,945 (+180.3%), from €17,159 to €48,104
- Profit (loss) carried forward -€21,103
down €21,103 (-27.8%), from -€75,940 to -€97,043
- Debts after one year -€10,368
down €10,368 (-7.3%), from €142,685 to €132,316
- Gross operating margin -€5,145
down €5,145 (-25.6%), from €20,080 to €14,935
- Depreciation +€1,119
up €1,119 (+5.6%), from €19,929 to €21,047
- Financial charges -€768
down €768 (-5.7%), from €13,534 to €12,767
- Financial income -€411
no longer reported in 2025 (was €411)
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 | €329,556 | €326,760 | -€2,796 | -0.8% |
| Fixed assets | 21/28 | €165,807 | €147,278 | -€18,529 | -11.2% |
| Tangible fixed assets | 22/27 | €165,807 | €147,278 | -€18,529 | -11.2% |
| Land and buildings | 22 | €147,774 | €130,796 | -€16,977 | -11.5% |
| Plant, machinery and equipment | 23 | €18,033 | €16,481 | -€1,552 | -8.6% |
| Current assets | 29/58 | €163,749 | €179,482 | +€15,733 | +9.6% |
| Amounts receivable within one year | 40/41 | €1,642 | €5,137 | +€3,495 | +212.9% |
| Trade receivables | 40 | - | €4,840 | +€4,840 | |
| Other amounts receivable | 41 | €1,642 | €297 | -€1,345 | -81.9% |
| Cash at bank and in hand | 54/58 | €162,107 | €174,309 | +€12,202 | +7.5% |
| Deferred charges and accrued income | 490/1 | - | €36 | +€36 | |
| Total equity and liabilities | 10/49 | €329,556 | €326,760 | -€2,796 | -0.8% |
| Equity | 10/15 | €150,178 | €129,075 | -€21,103 | -14.1% |
| Contributions | 10/11 | €3,726 | €3,726 | = | 0.0% |
| Capital | 10 | €3,726 | €3,726 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €14,874 | €14,874 | = | 0.0% |
| Reserves | 13 | €222,392 | €222,392 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,644 | €6,644 | = | 0.0% |
| Distributable reserves | 133 | €213,888 | €213,888 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,940 | -€97,043 | -€21,103 | -27.8% |
| Amounts payable | 17/49 | €179,378 | €197,685 | +€18,307 | +10.2% |
| Amounts payable after more than one year | 17 | €142,685 | €132,316 | -€10,368 | -7.3% |
| Financial debts | 170/4 | €142,685 | €132,316 | -€10,368 | -7.3% |
| Amounts payable within one year | 42/48 | €36,693 | €65,368 | +€28,675 | +78.1% |
| Current portion of amounts payable after more than one year | 42 | €9,533 | €10,368 | +€836 | +8.8% |
| Trade debts | 44 | €3,978 | €1,870 | -€2,108 | -53.0% |
| Suppliers | 440/4 | €3,978 | €1,870 | -€2,108 | -53.0% |
| Taxes, remuneration and social security | 45 | €6,024 | €5,027 | -€997 | -16.6% |
| Taxes | 450/3 | €3,324 | €2,304 | -€1,020 | -30.7% |
| Remuneration and social security | 454/9 | €2,699 | €2,722 | +€23 | +0.9% |
| Other amounts payable | 47/48 | €17,159 | €48,104 | +€30,945 | +180.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,929 | €21,047 | +€1,119 | +5.6% |
| Other operating charges | 640/8 | €2,161 | €2,224 | +€63 | +2.9% |
| Gross operating margin | 9900 | €20,080 | €14,935 | -€5,145 | -25.6% |
| Operating profit (loss) | 9901 | -€2,010 | -€8,336 | -€6,326 | -314.8% |
| Financial income | 75/76B | €411 | - | -€411 | |
| Recurring financial income | 75 | €411 | - | -€411 | |
| Financial charges | 65/66B | €13,534 | €12,767 | -€768 | -5.7% |
| Recurring financial charges | 65 | €13,534 | €12,767 | -€768 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | -€15,133 | -€21,103 | -€5,970 | -39.4% |
| Profit (loss) for the period | 9904 | -€15,133 | -€21,103 | -€5,970 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,133 | -€21,103 | -€5,970 | -39.4% |
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.