Putain: 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.
Putain
Largest movements
- Cash +€18,511
up €18,511 (+43.5%), from €42,565 to €61,076
mainly Other debts (+€79,203) and Tax, wage and social debts (+€8,550)
- Receivables within one year +€15,308
up €15,308 (+6045.6%), from €253 to €15,561
- Deferred charges and accrued income +€8,581
new in 2025: €8,581
- Intangible fixed assets -€5,200
down €5,200 (-25.0%), from €20,786 to €15,586
- Stocks and contracts -€2,484
down €2,484 (-13.6%), from €18,327 to €15,843
- Other debts +€79,203
up €79,203 (+76.4%), from €103,699 to €182,902
- Profit (loss) carried forward -€32,631
down €32,631 (-63.3%), from -€51,571 to -€84,202
- Trade debts -€20,728
down €20,728 (-62.1%), from €33,383 to €12,654
- Tax, wage and social debts +€8,550
up €8,550 (+133.9%), from €6,384 to €14,934
of which Remuneration and social security: +€11,174
- Staff costs -€74,344
down €74,344 (-39.0%), from €190,769 to €116,425
- Gross operating margin -€56,346
down €56,346 (-36.9%), from €152,733 to €96,387
- Depreciation -€5,581
down €5,581 (-42.4%), from €13,157 to €7,575
- Financial charges +€5,233
up €5,233, from -€1,246 to €3,987
- Other operating charges -€1,558
down €1,558 (-59.9%), from €2,598 to €1,041
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 | €101,195 | €134,592 | +€33,397 | +33.0% |
| Fixed assets | 21/28 | €40,050 | €33,530 | -€6,519 | -16.3% |
| Intangible fixed assets | 21 | €20,786 | €15,586 | -€5,200 | -25.0% |
| Tangible fixed assets | 22/27 | €14,803 | €13,484 | -€1,319 | -8.9% |
| Furniture and vehicles | 24 | €13,512 | €12,389 | -€1,122 | -8.3% |
| Other tangible fixed assets | 26 | €1,291 | €1,094 | -€197 | -15.3% |
| Financial fixed assets | 28 | €4,461 | €4,461 | = | 0.0% |
| Current assets | 29/58 | €61,145 | €101,061 | +€39,916 | +65.3% |
| Stocks and contracts in progress | 3 | €18,327 | €15,843 | -€2,484 | -13.6% |
| Stocks | 30/36 | €18,327 | €15,843 | -€2,484 | -13.6% |
| Amounts receivable within one year | 40/41 | €253 | €15,561 | +€15,308 | +6045.6% |
| Trade receivables | 40 | €253 | €15,561 | +€15,308 | +6045.6% |
| Cash at bank and in hand | 54/58 | €42,565 | €61,076 | +€18,511 | +43.5% |
| Deferred charges and accrued income | 490/1 | - | €8,581 | +€8,581 | |
| Total equity and liabilities | 10/49 | €101,195 | €134,592 | +€33,397 | +33.0% |
| Equity | 10/15 | -€46,571 | -€79,202 | -€32,631 | -70.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,571 | -€84,202 | -€32,631 | -63.3% |
| Amounts payable | 17/49 | €147,766 | €213,794 | +€66,028 | +44.7% |
| Amounts payable within one year | 42/48 | €147,766 | €213,794 | +€66,028 | +44.7% |
| Financial debts | 43 | €4,301 | €3,303 | -€998 | -23.2% |
| Credit institutions | 430/8 | €4,301 | €3,303 | -€998 | -23.2% |
| Trade debts | 44 | €33,383 | €12,654 | -€20,728 | -62.1% |
| Suppliers | 440/4 | €33,383 | €12,654 | -€20,728 | -62.1% |
| Taxes, remuneration and social security | 45 | €6,384 | €14,934 | +€8,550 | +133.9% |
| Taxes | 450/3 | €6,384 | €3,760 | -€2,624 | -41.1% |
| Remuneration and social security | 454/9 | - | €11,174 | +€11,174 | |
| Other amounts payable | 47/48 | €103,699 | €182,902 | +€79,203 | +76.4% |
| Remuneration, social security and pensions | 62 | €190,769 | €116,425 | -€74,344 | -39.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,157 | €7,575 | -€5,581 | -42.4% |
| Other operating charges | 640/8 | €2,598 | €1,041 | -€1,558 | -59.9% |
| Gross operating margin | 9900 | €152,733 | €96,387 | -€56,346 | -36.9% |
| Operating profit (loss) | 9901 | -€53,791 | -€28,654 | +€25,137 | +46.7% |
| Financial income | 75/76B | €973 | €9 | -€964 | -99.0% |
| Recurring financial income | 75 | €973 | €9 | -€964 | -99.0% |
| Financial charges | 65/66B | -€1,246 | €3,987 | +€5,233 | |
| Recurring financial charges | 65 | -€1,246 | €3,987 | +€5,233 | |
| Profit (loss) for the period before taxes | 9903 | -€51,571 | -€32,631 | +€18,940 | +36.7% |
| Profit (loss) for the period | 9904 | -€51,571 | -€32,631 | +€18,940 | +36.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,571 | -€32,631 | +€18,940 | +36.7% |
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 11 October 2026 via checked.be.