PUUS: 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.
PUUS
Largest movements
- Tangible fixed assets -€25,160
down €25,160 (-9.5%), from €265,025 to €239,865
- Stocks and contracts +€24,480
up €24,480 (+10.1%), from €242,051 to €266,531
- Cash +€24,008
up €24,008 (+34.3%), from €69,982 to €93,990
mainly Short-term financial debts (+€58,830) and Net result for the year (+€32,009)
- Intangible fixed assets +€15,098
new in 2025: €15,098
- Receivables within one year -€12,898
down €12,898 (-33.3%), from €38,692 to €25,795
of which Other amounts receivable: -€8,042
- Short-term financial debts +€58,830
up €58,830 (+117.7%), from €50,000 to €108,830
- Debts after one year -€54,918
down €54,918 (-39.4%), from €139,494 to €84,576
- Reserves +€31,570
up €31,570 (+11.0%), from €286,758 to €318,328
of which Distributable reserves: +€31,570
- Current portion of long-term debt -€11,957
down €11,957 (-17.9%), from €66,875 to €54,918
- Trade debts +€7,403
up €7,403 (+28.6%), from €25,889 to €33,292
- Gross operating margin -€23,445
down €23,445 (-20.9%), from €112,282 to €88,836
- Financial income -€7,687
down €7,687 (-42.0%), from €18,288 to €10,601
- Staff costs -€4,623
down €4,623 (-100.0%), from €4,623 to €0
- Depreciation -€2,858
down €2,858 (-9.9%), from €28,820 to €25,962
- Taxes +€2,367
up €2,367 (+21.3%), from €11,134 to €13,501
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 | €615,751 | €641,279 | +€25,528 | +4.1% |
| Fixed assets | 21/28 | €265,025 | €254,963 | -€10,062 | -3.8% |
| Intangible fixed assets | 21 | - | €15,098 | +€15,098 | |
| Tangible fixed assets | 22/27 | €265,025 | €239,865 | -€25,160 | -9.5% |
| Land and buildings | 22 | €228,091 | €216,688 | -€11,403 | -5.0% |
| Plant, machinery and equipment | 23 | €9,585 | €7,651 | -€1,934 | -20.2% |
| Furniture and vehicles | 24 | €27,348 | €15,525 | -€11,823 | -43.2% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €350,726 | €386,316 | +€35,590 | +10.1% |
| Stocks and contracts in progress | 3 | €242,051 | €266,531 | +€24,480 | +10.1% |
| Stocks | 30/36 | €242,051 | €266,531 | +€24,480 | +10.1% |
| Amounts receivable within one year | 40/41 | €38,692 | €25,795 | -€12,898 | -33.3% |
| Trade receivables | 40 | €29,151 | €24,296 | -€4,856 | -16.7% |
| Other amounts receivable | 41 | €9,541 | €1,499 | -€8,042 | -84.3% |
| Cash at bank and in hand | 54/58 | €69,982 | €93,990 | +€24,008 | +34.3% |
| Total equity and liabilities | 10/49 | €615,751 | €641,279 | +€25,528 | +4.1% |
| Equity | 10/15 | €305,350 | €336,920 | +€31,570 | +10.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €286,758 | €318,328 | +€31,570 | +11.0% |
| Non-distributable reserves | 130/1 | €2,004 | €2,004 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,004 | €2,004 | = | 0.0% |
| Distributable reserves | 133 | €284,754 | €316,324 | +€31,570 | +11.1% |
| Amounts payable | 17/49 | €310,401 | €304,359 | -€6,042 | -1.9% |
| Amounts payable after more than one year | 17 | €139,494 | €84,576 | -€54,918 | -39.4% |
| Financial debts | 170/4 | €139,494 | €84,576 | -€54,918 | -39.4% |
| Amounts payable within one year | 42/48 | €170,907 | €219,783 | +€48,876 | +28.6% |
| Current portion of amounts payable after more than one year | 42 | €66,875 | €54,918 | -€11,957 | -17.9% |
| Financial debts | 43 | €50,000 | €108,830 | +€58,830 | +117.7% |
| Credit institutions | 430/8 | €50,000 | €108,830 | +€58,830 | +117.7% |
| Trade debts | 44 | €25,889 | €33,292 | +€7,403 | +28.6% |
| Suppliers | 440/4 | €25,889 | €33,292 | +€7,403 | +28.6% |
| Taxes, remuneration and social security | 45 | €27,744 | €22,743 | -€5,001 | -18.0% |
| Taxes | 450/3 | €26,357 | €21,086 | -€5,271 | -20.0% |
| Remuneration and social security | 454/9 | €1,387 | €1,657 | +€271 | +19.5% |
| Other amounts payable | 47/48 | €399 | €0 | -€399 | -100.0% |
| Non-recurring operating income | 76A | €18,517 | €13,343 | -€5,174 | -27.9% |
| Remuneration, social security and pensions | 62 | €4,623 | €0 | -€4,623 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,820 | €25,962 | -€2,858 | -9.9% |
| Other operating charges | 640/8 | €13,793 | €14,942 | +€1,149 | +8.3% |
| Gross operating margin | 9900 | €112,282 | €88,836 | -€23,445 | -20.9% |
| Operating profit (loss) | 9901 | €65,046 | €47,932 | -€17,114 | -26.3% |
| Financial income | 75/76B | €18,288 | €10,601 | -€7,687 | -42.0% |
| Recurring financial income | 75 | €18,288 | €10,601 | -€7,687 | -42.0% |
| Financial charges | 65/66B | €14,365 | €13,023 | -€1,342 | -9.3% |
| Recurring financial charges | 65 | €14,365 | €13,023 | -€1,342 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €68,968 | €45,510 | -€23,459 | -34.0% |
| Income taxes | 67/77 | €11,134 | €13,501 | +€2,367 | +21.3% |
| Profit (loss) for the period | 9904 | €57,834 | €32,009 | -€25,825 | -44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €57,834 | €32,009 | -€25,825 | -44.7% |
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.