PUPPY IMMO: 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.
PUPPY IMMO
Largest movements
- Tangible fixed assets -€46,455
down €46,455 (-14.7%), from €316,936 to €270,481
- Cash +€31,651
up €31,651 (+17.2%), from €184,074 to €215,725
mainly Depreciation (+€50,930) and Net result for the year (+€13,365)
- Receivables within one year +€26,958
up €26,958 (+10,390%), from €259 to €27,217
of which Trade receivables: +€26,913
- Reserves +€11,929
up €11,929 (+3.0%), from €396,088 to €408,017
of which Distributable reserves: +€11,929
- Gross operating margin +€2,631
up €2,631 (+3.6%), from €73,488 to €76,120
- Depreciation -€2,436
down €2,436 (-4.6%), from €53,365 to €50,930
- Taxes +€1,214
up €1,214 (+37.5%), from €3,241 to €4,455
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 | €502,368 | €513,424 | +€11,055 | +2.2% |
| Fixed assets | 21/28 | €316,936 | €270,481 | -€46,455 | -14.7% |
| Tangible fixed assets | 22/27 | €316,936 | €270,481 | -€46,455 | -14.7% |
| Land and buildings | 22 | €316,936 | €270,481 | -€46,455 | -14.7% |
| Current assets | 29/58 | €185,432 | €242,942 | +€57,511 | +31.0% |
| Amounts receivable within one year | 40/41 | €259 | €27,217 | +€26,958 | +10,390% |
| Trade receivables | 40 | - | €26,913 | +€26,913 | |
| Other amounts receivable | 41 | €259 | €305 | +€45 | +17.4% |
| Cash at bank and in hand | 54/58 | €184,074 | €215,725 | +€31,651 | +17.2% |
| Deferred charges and accrued income | 490/1 | €1,098 | - | -€1,098 | |
| Total equity and liabilities | 10/49 | €502,368 | €513,424 | +€11,055 | +2.2% |
| Equity | 10/15 | €499,153 | €512,518 | +€13,365 | +2.7% |
| Contributions | 10/11 | €80,167 | €80,167 | = | 0.0% |
| Capital | 10 | €80,167 | €80,167 | = | 0.0% |
| Issued capital | 100 | €80,167 | €80,167 | = | 0.0% |
| Reserves | 13 | €396,088 | €408,017 | +€11,929 | +3.0% |
| Non-distributable reserves | 130/1 | €8,017 | €8,017 | = | 0.0% |
| Legal reserve | 130 | €8,017 | €8,017 | = | 0.0% |
| Distributable reserves | 133 | €388,071 | €400,000 | +€11,929 | +3.1% |
| Profit (loss) carried forward | 14 | €22,899 | €24,334 | +€1,436 | +6.3% |
| Amounts payable | 17/49 | €3,215 | €906 | -€2,309 | -71.8% |
| Amounts payable within one year | 42/48 | €3,215 | €906 | -€2,309 | -71.8% |
| Financial debts | 43 | €74 | €76 | +€1 | +1.6% |
| Credit institutions | 430/8 | €74 | €76 | +€1 | +1.6% |
| Trade debts | 44 | €1,192 | €172 | -€1,020 | -85.6% |
| Suppliers | 440/4 | €1,192 | €172 | -€1,020 | -85.6% |
| Taxes, remuneration and social security | 45 | €1,949 | €659 | -€1,290 | -66.2% |
| Taxes | 450/3 | €1,949 | €659 | -€1,290 | -66.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,365 | €50,930 | -€2,436 | -4.6% |
| Other operating charges | 640/8 | €6,646 | €6,854 | +€208 | +3.1% |
| Gross operating margin | 9900 | €73,488 | €76,120 | +€2,631 | +3.6% |
| Operating profit (loss) | 9901 | €13,477 | €18,336 | +€4,858 | +36.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €515 | €516 | +€1 | +0.2% |
| Recurring financial charges | 65 | €515 | €516 | +€1 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €12,962 | €17,819 | +€4,857 | +37.5% |
| Income taxes | 67/77 | €3,241 | €4,455 | +€1,214 | +37.5% |
| Profit (loss) for the period | 9904 | €9,722 | €13,365 | +€3,643 | +37.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,722 | €13,365 | +€3,643 | +37.5% |
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 20 October 2026 via checked.be.