PUVEVA: 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.
PUVEVA
Largest movements
- Tangible fixed assets -€15,629
down €15,629 (-5.0%), from €310,834 to €295,205
- Receivables within one year -€4,520
down €4,520 (-75.3%), from €6,000 to €1,480
- Cash -€3,370
down €3,370 (-62.2%), from €5,423 to €2,052
mainly Debts after one year (-€18,366) and Current portion of long-term debt (-€17,260)
- Debts after one year -€18,366
down €18,366 (-8.6%), from €213,836 to €195,470
- Current portion of long-term debt -€17,260
down €17,260 (-50.2%), from €34,401 to €17,141
- Reserves +€11,574
up €11,574 (+40.1%), from €28,844 to €40,417
- Gross operating margin +€15,927
up €15,927 (+85.8%), from €18,563 to €34,491
- Staff costs -€3,526
no longer reported in 2025 (was €3,526)
- Other operating charges -€2,895
down €2,895 (-57.6%), from €5,025 to €2,130
- Financial charges -€1,084
down €1,084 (-19.1%), from €5,677 to €4,593
- Depreciation +€962
up €962 (+6.6%), from €14,667 to €15,629
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.
Derived cash bridge
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 | €322,257 | €298,738 | -€23,519 | -7.3% |
| Fixed assets | 21/28 | €310,834 | €295,205 | -€15,629 | -5.0% |
| Tangible fixed assets | 22/27 | €310,834 | €295,205 | -€15,629 | -5.0% |
| Land and buildings | 22 | €310,834 | €295,205 | -€15,629 | -5.0% |
| Current assets | 29/58 | €11,423 | €3,533 | -€7,890 | -69.1% |
| Amounts receivable within one year | 40/41 | €6,000 | €1,480 | -€4,520 | -75.3% |
| Trade receivables | 40 | €6,000 | €1,480 | -€4,520 | -75.3% |
| Cash at bank and in hand | 54/58 | €5,423 | €2,052 | -€3,370 | -62.2% |
| Total equity and liabilities | 10/49 | €322,257 | €298,738 | -€23,519 | -7.3% |
| Equity | 10/15 | €30,842 | €42,415 | +€11,574 | +37.5% |
| Contributions | 10/11 | €1,998 | €1,998 | = | 0.0% |
| Reserves | 13 | €28,844 | €40,417 | +€11,574 | +40.1% |
| Distributable reserves | 133 | €28,844 | €40,417 | +€11,574 | +40.1% |
| Amounts payable | 17/49 | €291,415 | €256,322 | -€35,092 | -12.0% |
| Amounts payable after more than one year | 17 | €213,836 | €195,470 | -€18,366 | -8.6% |
| Financial debts | 170/4 | €213,836 | €195,470 | -€18,366 | -8.6% |
| Amounts payable within one year | 42/48 | €77,224 | €60,521 | -€16,703 | -21.6% |
| Current portion of amounts payable after more than one year | 42 | €34,401 | €17,141 | -€17,260 | -50.2% |
| Trade debts | 44 | €2,457 | €1,208 | -€1,249 | -50.8% |
| Suppliers | 440/4 | €2,457 | €1,208 | -€1,249 | -50.8% |
| Taxes, remuneration and social security | 45 | €1,977 | €1,271 | -€706 | -35.7% |
| Taxes | 450/3 | €1,977 | €1,271 | -€706 | -35.7% |
| Other amounts payable | 47/48 | €38,389 | €40,901 | +€2,512 | +6.5% |
| Accrued charges and deferred income | 492/3 | €354 | €331 | -€23 | -6.5% |
| Remuneration, social security and pensions | 62 | €3,526 | - | -€3,526 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,667 | €15,629 | +€962 | +6.6% |
| Other operating charges | 640/8 | €5,025 | €2,130 | -€2,895 | -57.6% |
| Gross operating margin | 9900 | €18,563 | €34,491 | +€15,927 | +85.8% |
| Operating profit (loss) | 9901 | -€4,654 | €16,732 | +€21,386 | |
| Financial income | 75/76B | €1 | €182 | +€181 | +21,583% |
| Recurring financial income | 75 | €1 | €182 | +€181 | +21,583% |
| Financial charges | 65/66B | €5,677 | €4,593 | -€1,084 | -19.1% |
| Recurring financial charges | 65 | €5,677 | €4,593 | -€1,084 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | -€10,330 | €12,321 | +€22,652 | |
| Income taxes | 67/77 | - | €748 | +€748 | |
| Profit (loss) for the period | 9904 | -€10,330 | €11,574 | +€21,904 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,330 | €11,574 | +€21,904 |
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 13 October 2026 via checked.be.