PUPIL: 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.
PUPIL
Largest movements
- Current investments +€375,000
up €375,000 (+116.5%), from €321,917 to €696,917
- Cash -€214,603
down €214,603 (-18.6%), from €1.2m to €938,169
mainly Contributions, distributions and other (-€562,314) and Current investments (-€375,000)
- Receivables within one year -€50,512
down €50,512 (-94.1%), from €53,688 to €3,176
- Other debts +€433,370
up €433,370 (+439.3%), from €98,658 to €532,028
- Reserves -€356,626
down €356,626 (-23.7%), from €1.5m to €1.1m
- Taxes +€19,505
up €19,505 (+27.4%), from €71,278 to €90,782
- Gross operating margin +€14,757
up €14,757 (+4.4%), from €333,577 to €348,333
- Financial income -€11,351
down €11,351 (-43.7%), from €25,995 to €14,644
- Financial charges +€4,517
up €4,517 (+70.5%), from €6,411 to €10,928
- Staff costs +€3,517
up €3,517 (+9.9%), from €35,387 to €38,903
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 | €1,686,611 | €1,773,460 | +€86,849 | +5.1% |
| Fixed assets | 21/28 | €80,388 | €68,737 | -€11,651 | -14.5% |
| Tangible fixed assets | 22/27 | €80,388 | €68,737 | -€11,651 | -14.5% |
| Land and buildings | 22 | €12,915 | €14,371 | +€1,456 | +11.3% |
| Plant, machinery and equipment | 23 | €25,425 | €23,175 | -€2,250 | -8.8% |
| Furniture and vehicles | 24 | €38,754 | €28,519 | -€10,235 | -26.4% |
| Other tangible fixed assets | 26 | €3,294 | €2,672 | -€622 | -18.9% |
| Current assets | 29/58 | €1,606,223 | €1,704,723 | +€98,500 | +6.1% |
| Stocks and contracts in progress | 3 | €77,375 | €66,170 | -€11,206 | -14.5% |
| Stocks | 30/36 | €77,375 | €66,170 | -€11,206 | -14.5% |
| Amounts receivable within one year | 40/41 | €53,688 | €3,176 | -€50,512 | -94.1% |
| Other amounts receivable | 41 | €53,688 | €3,176 | -€50,512 | -94.1% |
| Current investments | 50/53 | €321,917 | €696,917 | +€375,000 | +116.5% |
| Cash at bank and in hand | 54/58 | €1,152,772 | €938,169 | -€214,603 | -18.6% |
| Deferred charges and accrued income | 490/1 | €471 | €292 | -€179 | -38.0% |
| Total equity and liabilities | 10/49 | €1,686,611 | €1,773,460 | +€86,849 | +5.1% |
| Equity | 10/15 | €1,521,828 | €1,165,202 | -€356,626 | -23.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,503,228 | €1,146,602 | -€356,626 | -23.7% |
| Distributable reserves | 133 | €1,503,228 | €1,146,602 | -€356,626 | -23.7% |
| Amounts payable | 17/49 | €164,782 | €608,258 | +€443,475 | +269.1% |
| Amounts payable within one year | 42/48 | €164,782 | €598,653 | +€433,870 | +263.3% |
| Trade debts | 44 | €27,792 | €25,856 | -€1,936 | -7.0% |
| Suppliers | 440/4 | €27,792 | €25,856 | -€1,936 | -7.0% |
| Taxes, remuneration and social security | 45 | €38,332 | €40,768 | +€2,436 | +6.4% |
| Taxes | 450/3 | €28,708 | €31,099 | +€2,391 | +8.3% |
| Remuneration and social security | 454/9 | €9,625 | €9,669 | +€45 | +0.5% |
| Other amounts payable | 47/48 | €98,658 | €532,028 | +€433,370 | +439.3% |
| Accrued charges and deferred income | 492/3 | - | €9,605 | +€9,605 | |
| Remuneration, social security and pensions | 62 | €35,387 | €38,903 | +€3,517 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,807 | €14,671 | +€864 | +6.3% |
| Other operating charges | 640/8 | €2,319 | €2,004 | -€315 | -13.6% |
| Gross operating margin | 9900 | €333,577 | €348,333 | +€14,757 | +4.4% |
| Operating profit (loss) | 9901 | €282,063 | €292,754 | +€10,691 | +3.8% |
| Financial income | 75/76B | €25,995 | €14,644 | -€11,351 | -43.7% |
| Recurring financial income | 75 | €25,995 | €14,644 | -€11,351 | -43.7% |
| Financial charges | 65/66B | €6,411 | €10,928 | +€4,517 | +70.5% |
| Recurring financial charges | 65 | €6,411 | €10,928 | +€4,517 | +70.5% |
| Profit (loss) for the period before taxes | 9903 | €301,647 | €296,470 | -€5,177 | -1.7% |
| Income taxes | 67/77 | €71,278 | €90,782 | +€19,505 | +27.4% |
| Profit (loss) for the period | 9904 | €230,369 | €205,688 | -€24,681 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €230,369 | €205,688 | -€24,681 | -10.7% |
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 4 October 2026 via checked.be.