PUTTERS: 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.
PUTTERS
Largest movements
- Cash +€94,155
up €94,155 (+49.9%), from €188,844 to €282,999
mainly Net result for the year (+€92,727) and Depreciation (+€6,031)
- Tangible fixed assets -€6,031
down €6,031 (-38.3%), from €15,739 to €9,708
of which Furniture and vehicles: -€4,005
- Stocks and contracts +€5,327
up €5,327 (+30.6%), from €17,415 to €22,742
- Reserves +€92,727
up €92,727 (+78.5%), from €118,182 to €210,909
of which Distributable reserves: +€92,727
- Trade debts +€5,025
up €5,025 (+25.6%), from €19,602 to €24,627
- Turnover +€43,407
up €43,407 (+8.0%), from €544,018 to €587,425
- Gross operating margin +€42,949
up €42,949 (+43.0%), from €99,995 to €142,944
- Purchases and services +€32,100
up €32,100 (+7.6%), from €420,018 to €452,118
- Taxes +€15,303
up €15,303 (+53.1%), from €28,821 to €44,124
- Depreciation -€6,058
down €6,058 (-50.1%), from €12,089 to €6,031
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 | €222,635 | €318,531 | +€95,896 | +43.1% |
| Fixed assets | 21/28 | €15,739 | €9,708 | -€6,031 | -38.3% |
| Tangible fixed assets | 22/27 | €15,739 | €9,708 | -€6,031 | -38.3% |
| Land and buildings | 22 | €11,458 | €9,708 | -€1,750 | -15.3% |
| Plant, machinery and equipment | 23 | €276 | €0 | -€276 | -100.0% |
| Furniture and vehicles | 24 | €4,005 | €0 | -€4,005 | -100.0% |
| Current assets | 29/58 | €206,896 | €308,823 | +€101,927 | +49.3% |
| Stocks and contracts in progress | 3 | €17,415 | €22,742 | +€5,327 | +30.6% |
| Stocks | 30/36 | €17,415 | €22,742 | +€5,327 | +30.6% |
| Amounts receivable within one year | 40/41 | - | €205 | +€205 | |
| Other amounts receivable | 41 | - | €205 | +€205 | |
| Cash at bank and in hand | 54/58 | €188,844 | €282,999 | +€94,155 | +49.9% |
| Deferred charges and accrued income | 490/1 | €637 | €2,877 | +€2,240 | +351.6% |
| Total equity and liabilities | 10/49 | €222,635 | €318,531 | +€95,896 | +43.1% |
| Equity | 10/15 | €191,444 | €282,571 | +€91,127 | +47.6% |
| Contributions | 10/11 | €56,000 | €56,000 | = | 0.0% |
| Reserves | 13 | €118,182 | €210,909 | +€92,727 | +78.5% |
| Non-distributable reserves | 130/1 | €1,682 | €1,682 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,682 | €1,682 | = | 0.0% |
| Distributable reserves | 133 | €116,500 | €209,227 | +€92,727 | +79.6% |
| Profit (loss) carried forward | 14 | €17,262 | €15,662 | -€1,600 | -9.3% |
| Amounts payable | 17/49 | €31,191 | €35,960 | +€4,769 | +15.3% |
| Amounts payable within one year | 42/48 | €31,191 | €35,960 | +€4,769 | +15.3% |
| Trade debts | 44 | €19,602 | €24,627 | +€5,025 | +25.6% |
| Suppliers | 440/4 | €19,602 | €24,627 | +€5,025 | +25.6% |
| Taxes, remuneration and social security | 45 | €10,469 | €10,213 | -€256 | -2.4% |
| Taxes | 450/3 | €10,469 | €10,213 | -€256 | -2.4% |
| Other amounts payable | 47/48 | €1,120 | €1,120 | = | 0.0% |
| Turnover | 70 | €544,018 | €587,425 | +€43,407 | +8.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €420,018 | €452,118 | +€32,100 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,089 | €6,031 | -€6,058 | -50.1% |
| Other operating charges | 640/8 | €1,030 | €1,034 | +€4 | +0.4% |
| Gross operating margin | 9900 | €99,995 | €142,944 | +€42,949 | +43.0% |
| Operating profit (loss) | 9901 | €86,876 | €135,879 | +€49,003 | +56.4% |
| Financial income | 75/76B | €539 | €1,011 | +€472 | +87.6% |
| Recurring financial income | 75 | €539 | €1,011 | +€472 | +87.6% |
| Financial charges | 65/66B | €38 | €39 | +€1 | +2.6% |
| Recurring financial charges | 65 | €38 | €39 | +€1 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €87,377 | €136,851 | +€49,474 | +56.6% |
| Income taxes | 67/77 | €28,821 | €44,124 | +€15,303 | +53.1% |
| Profit (loss) for the period | 9904 | €58,556 | €92,727 | +€34,171 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €58,556 | €92,727 | +€34,171 | +58.4% |
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 3 October 2026 via checked.be.