PUYPE: 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.
PUYPE
Largest movements
- Tangible fixed assets +€396,089
up €396,089 (+42.5%), from €931,608 to €1.3m
of which Assets under construction and advance payments: +€418,781
- Cash -€79,233
down €79,233 (-66.9%), from €118,346 to €39,114
mainly Investment in fixed assets (net) (-€418,781) and Receivables within one year (-€28,441)
- Receivables within one year +€28,441
up €28,441 (+924.3%), from €3,077 to €31,518
of which Trade receivables: +€28,874
- Current investments +€20,734
up €20,734, from €0 to €20,734
- Other debts +€197,237
up €197,237 (+28.8%), from €685,195 to €882,432
- Debts after one year +€142,131
up €142,131 (+90.9%), from €156,400 to €298,531
- Trade debts +€40,707
up €40,707 (+3300.4%), from €1,233 to €41,940
- Profit (loss) carried forward -€19,763
down €19,763 (-5.1%), from -€388,033 to -€407,796
- Purchases and services -€43,269
no longer reported in 2025 (was €43,269)
- Gross operating margin +€10,292
up €10,292 (+159.0%), from €6,471 to €16,763
- Turnover -€2,311
no longer reported in 2025 (was €2,311)
- Financial charges -€364
down €364 (-4.1%), from €8,906 to €8,543
- Financial income -€338
down €338 (-64.3%), from €526 to €188
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 | €1,056,109 | €1,421,045 | +€364,936 | +34.6% |
| Fixed assets | 21/28 | €931,608 | €1,327,697 | +€396,089 | +42.5% |
| Tangible fixed assets | 22/27 | €931,608 | €1,327,697 | +€396,089 | +42.5% |
| Land and buildings | 22 | €855,353 | €832,661 | -€22,692 | -2.7% |
| Other tangible fixed assets | 26 | €34,209 | €34,209 | = | 0.0% |
| Assets under construction and advance payments | 27 | €42,045 | €460,826 | +€418,781 | +996.0% |
| Current assets | 29/58 | €124,501 | €93,348 | -€31,153 | -25.0% |
| Amounts receivable within one year | 40/41 | €3,077 | €31,518 | +€28,441 | +924.3% |
| Trade receivables | 40 | €2,588 | €31,462 | +€28,874 | +1115.5% |
| Other amounts receivable | 41 | €488 | €56 | -€432 | -88.5% |
| Current investments | 50/53 | €0 | €20,734 | +€20,734 | |
| Cash at bank and in hand | 54/58 | €118,346 | €39,114 | -€79,233 | -66.9% |
| Deferred charges and accrued income | 490/1 | €3,077 | €1,982 | -€1,095 | -35.6% |
| Total equity and liabilities | 10/49 | €1,056,109 | €1,421,045 | +€364,936 | +34.6% |
| Equity | 10/15 | €192,902 | €173,139 | -€19,763 | -10.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €510,935 | €510,935 | = | 0.0% |
| Non-distributable reserves | 130/1 | €40,000 | €40,000 | = | 0.0% |
| Legal reserve | 130 | €40,000 | €40,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €452,185 | €452,185 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€388,033 | -€407,796 | -€19,763 | -5.1% |
| Amounts payable | 17/49 | €863,207 | €1,247,906 | +€384,699 | +44.6% |
| Amounts payable after more than one year | 17 | €156,400 | €298,531 | +€142,131 | +90.9% |
| Financial debts | 170/4 | €156,400 | €298,531 | +€142,131 | +90.9% |
| Amounts payable within one year | 42/48 | €704,828 | €947,372 | +€242,544 | +34.4% |
| Current portion of amounts payable after more than one year | 42 | €18,400 | €18,400 | = | 0.0% |
| Trade debts | 44 | €1,233 | €41,940 | +€40,707 | +3300.4% |
| Suppliers | 440/4 | €1,233 | €41,940 | +€40,707 | +3300.4% |
| Taxes, remuneration and social security | 45 | - | €4,600 | +€4,600 | |
| Taxes | 450/3 | - | €4,600 | +€4,600 | |
| Other amounts payable | 47/48 | €685,195 | €882,432 | +€197,237 | +28.8% |
| Accrued charges and deferred income | 492/3 | €1,978 | €2,002 | +€24 | +1.2% |
| Turnover | 70 | €2,311 | - | -€2,311 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €43,269 | - | -€43,269 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,692 | €22,692 | -€0 | 0.0% |
| Other operating charges | 640/8 | €5,036 | €5,162 | +€125 | +2.5% |
| Non-recurring operating charges | 66A | €183,252 | €318 | -€182,934 | -99.8% |
| Gross operating margin | 9900 | €6,471 | €16,763 | +€10,292 | +159.0% |
| Operating profit (loss) | 9901 | -€204,509 | -€11,408 | +€193,101 | +94.4% |
| Financial income | 75/76B | €526 | €188 | -€338 | -64.3% |
| Recurring financial income | 75 | €526 | €188 | -€338 | -64.3% |
| Financial charges | 65/66B | €8,906 | €8,543 | -€364 | -4.1% |
| Recurring financial charges | 65 | €8,906 | €8,543 | -€364 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | -€212,889 | -€19,763 | +€193,126 | +90.7% |
| Profit (loss) for the period | 9904 | -€212,889 | -€19,763 | +€193,126 | +90.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€212,889 | -€19,763 | +€193,126 | +90.7% |
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 9 October 2026 via checked.be.