PUTZEYS & CO: 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.
PUTZEYS & CO
Largest movements
- Current investments -€2.6m
down €2.6m (-83.3%), from €3.1m to €513,795
- Cash +€289,822
up €289,822 (+73.4%), from €394,918 to €684,740
mainly Current investments (+€2.6m) and Net result for the year (+€557,799)
- Tangible fixed assets -€152,182
down €152,182 (-2.3%), from €6.6m to €6.4m
of which Other tangible fixed assets: -€147,291
- Other debts -€2.8m
down €2.8m (-53.3%), from €5.3m to €2.5m
- Reserves +€557,000
up €557,000 (+13.8%), from €4.0m to €4.6m
of which Distributable reserves: +€557,000
- Financial income +€243,217
up €243,217 (+113.9%), from €213,583 to €456,800
- Financial charges +€117,257
up €117,257 (+72.2%), from €162,294 to €279,552
of which Financial charges: +€108,892
- Gross operating margin +€103,822
up €103,822 (+10.3%), from €1.0m to €1.1m
- Taxes +€60,698
up €60,698 (+24.7%), from €245,608 to €306,306
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 | €10,262,712 | €7,919,936 | -€2.3m | -22.8% |
| Fixed assets | 21/28 | €6,562,478 | €6,410,296 | -€152,182 | -2.3% |
| Tangible fixed assets | 22/27 | €6,561,911 | €6,409,729 | -€152,182 | -2.3% |
| Plant, machinery and equipment | 23 | €2,710 | €737 | -€1,973 | -72.8% |
| Furniture and vehicles | 24 | €50,726 | €47,809 | -€2,918 | -5.8% |
| Other tangible fixed assets | 26 | €6,508,474 | €6,361,183 | -€147,291 | -2.3% |
| Financial fixed assets | 28 | €567 | €567 | = | 0.0% |
| Current assets | 29/58 | €3,700,235 | €1,509,640 | -€2.2m | -59.2% |
| Amounts receivable after more than one year | 29 | €2,500 | - | -€2,500 | |
| Other amounts receivable | 291 | €2,500 | - | -€2,500 | |
| Amounts receivable within one year | 40/41 | €202,211 | €295,631 | +€93,421 | +46.2% |
| Trade receivables | 40 | €191,910 | €285,692 | +€93,781 | +48.9% |
| Other amounts receivable | 41 | €10,300 | €9,940 | -€361 | -3.5% |
| Current investments | 50/53 | €3,084,384 | €513,795 | -€2.6m | -83.3% |
| Cash at bank and in hand | 54/58 | €394,918 | €684,740 | +€289,822 | +73.4% |
| Deferred charges and accrued income | 490/1 | €16,222 | €15,474 | -€748 | -4.6% |
| Total equity and liabilities | 10/49 | €10,262,712 | €7,919,936 | -€2.3m | -22.8% |
| Equity | 10/15 | €4,513,182 | €5,070,980 | +€557,799 | +12.4% |
| Contributions | 10/11 | €19,600 | €19,600 | = | 0.0% |
| Reserves | 13 | €4,023,307 | €4,580,307 | +€557,000 | +13.8% |
| Non-distributable reserves | 130/1 | €308,147 | €308,147 | = | 0.0% |
| Reserves not available under the articles | 1311 | €308,147 | €308,147 | = | 0.0% |
| Distributable reserves | 133 | €3,715,161 | €4,272,161 | +€557,000 | +15.0% |
| Profit (loss) carried forward | 14 | €470,274 | €471,073 | +€799 | +0.2% |
| Amounts payable | 17/49 | €5,749,530 | €2,848,956 | -€2.9m | -50.4% |
| Amounts payable after more than one year | 17 | €125,847 | €87,353 | -€38,495 | -30.6% |
| Financial debts | 170/4 | €123,427 | €84,933 | -€38,495 | -31.2% |
| Other amounts payable | 178/9 | €2,420 | €2,420 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,586,697 | €2,713,626 | -€2.9m | -51.4% |
| Current portion of amounts payable after more than one year | 42 | €38,056 | €38,495 | +€438 | +1.2% |
| Trade debts | 44 | €48,131 | €25,877 | -€22,254 | -46.2% |
| Suppliers | 440/4 | €48,131 | €21,034 | -€27,097 | -56.3% |
| Bills of exchange payable | 441 | - | €4,843 | +€4,843 | |
| Advances received on contracts in progress | 46 | €119,000 | €125,000 | +€6,000 | +5.0% |
| Taxes, remuneration and social security | 45 | €46,813 | €34,142 | -€12,671 | -27.1% |
| Taxes | 450/3 | €42,707 | €29,628 | -€13,079 | -30.6% |
| Remuneration and social security | 454/9 | €4,106 | €4,514 | +€408 | +9.9% |
| Other amounts payable | 47/48 | €5,334,697 | €2,490,113 | -€2.8m | -53.3% |
| Accrued charges and deferred income | 492/3 | €36,986 | €47,977 | +€10,991 | +29.7% |
| Remuneration, social security and pensions | 62 | €36,691 | €36,425 | -€266 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €288,866 | €293,986 | +€5,120 | +1.8% |
| Other operating charges | 640/8 | €86,931 | €86,338 | -€592 | -0.7% |
| Non-recurring operating charges | 66A | - | €5,311 | +€5,311 | |
| Gross operating margin | 9900 | €1,005,095 | €1,108,917 | +€103,822 | +10.3% |
| Operating profit (loss) | 9901 | €592,607 | €686,856 | +€94,249 | +15.9% |
| Financial income | 75/76B | €213,583 | €456,800 | +€243,217 | +113.9% |
| Recurring financial income | 75 | €213,583 | €456,800 | +€243,217 | +113.9% |
| Financial charges | 65/66B | €162,294 | €279,552 | +€117,257 | +72.2% |
| Recurring financial charges | 65 | €162,294 | €271,186 | +€108,892 | +67.1% |
| Non-recurring financial charges | 66B | - | €8,365 | +€8,365 | |
| Profit (loss) for the period before taxes | 9903 | €643,896 | €864,105 | +€220,209 | +34.2% |
| Income taxes | 67/77 | €245,608 | €306,306 | +€60,698 | +24.7% |
| Profit (loss) for the period | 9904 | €398,287 | €557,799 | +€159,511 | +40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €398,287 | €557,799 | +€159,511 | +40.0% |
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 4 October 2026 via checked.be.