PUTTEMANS: 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.
PUTTEMANS
Largest movements
- Tangible fixed assets -€30,107
down €30,107 (-7.2%), from €415,742 to €385,635
of which Land and buildings: -€24,563
- Cash +€7,358
up €7,358 (+218.6%), from €3,366 to €10,724
mainly Depreciation (+€30,107) and Net result for the year (+€6,181)
- Debts after one year -€12,270
down €12,270 (-11.0%), from €111,961 to €99,691
- Other debts -€6,196
down €6,196 (-15.3%), from €40,591 to €34,396
- Reserves +€6,181
up €6,181 (+3.5%), from €178,003 to €184,184
of which Distributable reserves: +€6,181
- Depreciation -€3,792
down €3,792 (-11.2%), from €33,899 to €30,107
- Gross operating margin +€3,124
up €3,124 (+6.8%), from €45,758 to €48,882
- Taxes +€959
up €959 (+21.1%), from €4,556 to €5,516
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 | €426,648 | €406,718 | -€19,930 | -4.7% |
| Fixed assets | 21/28 | €415,742 | €385,635 | -€30,107 | -7.2% |
| Tangible fixed assets | 22/27 | €415,742 | €385,635 | -€30,107 | -7.2% |
| Land and buildings | 22 | €232,143 | €207,580 | -€24,563 | -10.6% |
| Furniture and vehicles | 24 | €748 | €486 | -€261 | -35.0% |
| Other tangible fixed assets | 26 | €182,852 | €177,569 | -€5,282 | -2.9% |
| Current assets | 29/58 | €10,906 | €21,083 | +€10,176 | +93.3% |
| Amounts receivable within one year | 40/41 | - | €484 | +€484 | |
| Other amounts receivable | 41 | - | €484 | +€484 | |
| Cash at bank and in hand | 54/58 | €3,366 | €10,724 | +€7,358 | +218.6% |
| Deferred charges and accrued income | 490/1 | €7,541 | €9,875 | +€2,334 | +31.0% |
| Total equity and liabilities | 10/49 | €426,648 | €406,718 | -€19,930 | -4.7% |
| Equity | 10/15 | €240,003 | €246,184 | +€6,181 | +2.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €178,003 | €184,184 | +€6,181 | +3.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €171,803 | €177,984 | +€6,181 | +3.6% |
| Provisions and deferred taxes | 16 | €4,920 | €3,280 | -€1,640 | -33.3% |
| Provisions for liabilities and charges | 160/5 | €4,920 | €3,280 | -€1,640 | -33.3% |
| Other liabilities and charges | 164/5 | €4,920 | €3,280 | -€1,640 | -33.3% |
| Amounts payable | 17/49 | €181,725 | €157,254 | -€24,471 | -13.5% |
| Amounts payable after more than one year | 17 | €111,961 | €99,691 | -€12,270 | -11.0% |
| Financial debts | 170/4 | €111,961 | €99,691 | -€12,270 | -11.0% |
| Amounts payable within one year | 42/48 | €59,499 | €47,257 | -€12,242 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €16,010 | €12,270 | -€3,739 | -23.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €747 | €35 | -€712 | -95.3% |
| Suppliers | 440/4 | €747 | €35 | -€712 | -95.3% |
| Taxes, remuneration and social security | 45 | €2,151 | €556 | -€1,594 | -74.1% |
| Taxes | 450/3 | €2,151 | €556 | -€1,594 | -74.1% |
| Other amounts payable | 47/48 | €40,591 | €34,396 | -€6,196 | -15.3% |
| Accrued charges and deferred income | 492/3 | €10,265 | €10,306 | +€41 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,899 | €30,107 | -€3,792 | -11.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,640 | -€1,640 | = | 0.0% |
| Other operating charges | 640/8 | €6,384 | €6,853 | +€469 | +7.3% |
| Gross operating margin | 9900 | €45,758 | €48,882 | +€3,124 | +6.8% |
| Operating profit (loss) | 9901 | €7,116 | €13,563 | +€6,447 | +90.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €2,098 | €1,866 | -€231 | -11.0% |
| Recurring financial charges | 65 | €2,098 | €1,866 | -€231 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €5,018 | €11,697 | +€6,678 | +133.1% |
| Income taxes | 67/77 | €4,556 | €5,516 | +€959 | +21.1% |
| Profit (loss) for the period | 9904 | €462 | €6,181 | +€5,719 | +1237.0% |
| Profit (loss) for the period to be appropriated | 9905 | €462 | €6,181 | +€5,719 | +1237.0% |
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 28 September 2026 via checked.be.