TOM POELMAN: 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.
TOM POELMAN
Largest movements
- Cash +€50,234
up €50,234 (+23.2%), from €216,105 to €266,339
mainly Net result for the year (+€106,981) and Depreciation (+€22,954)
- Tangible fixed assets +€11,972
up €11,972 (+7.0%), from €171,719 to €183,691
of which Land and buildings: +€6,505
- Reserves +€106,981
up €106,981 (+54.7%), from €195,497 to €302,478
- Other debts -€53,079
down €53,079 (-90.3%), from €58,794 to €5,715
- Trade debts +€13,209
up €13,209 (+195%), from €6,786 to €19,995
- Debts after one year -€10,913
down €10,913 (-9.7%), from €111,956 to €101,043
- Gross operating margin +€10,260
up €10,260 (+5.8%), from €176,345 to €186,605
- Depreciation +€6,388
up €6,388 (+38.6%), from €16,566 to €22,954
- Financial charges +€1,907
up €1,907 (+51.2%), from €3,726 to €5,633
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 | €410,035 | €467,982 | +€57,947 | +14.1% |
| Fixed assets | 21/28 | €171,719 | €183,691 | +€11,972 | +7.0% |
| Tangible fixed assets | 22/27 | €171,719 | €183,691 | +€11,972 | +7.0% |
| Land and buildings | 22 | €171,719 | €178,224 | +€6,505 | +3.8% |
| Plant, machinery and equipment | 23 | - | €2,916 | +€2,916 | |
| Furniture and vehicles | 24 | - | €2,551 | +€2,551 | |
| Current assets | 29/58 | €238,316 | €284,291 | +€45,975 | +19.3% |
| Amounts receivable within one year | 40/41 | €19,442 | €17,537 | -€1,905 | -9.8% |
| Trade receivables | 40 | €19,442 | €17,537 | -€1,905 | -9.8% |
| Cash at bank and in hand | 54/58 | €216,105 | €266,339 | +€50,234 | +23.2% |
| Deferred charges and accrued income | 490/1 | €2,769 | €415 | -€2,354 | -85.0% |
| Total equity and liabilities | 10/49 | €410,035 | €467,982 | +€57,947 | +14.1% |
| Equity | 10/15 | €207,897 | €314,878 | +€106,981 | +51.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €195,497 | €302,478 | +€106,981 | +54.7% |
| Distributable reserves | 133 | €195,497 | €302,478 | +€106,981 | +54.7% |
| Amounts payable | 17/49 | €202,138 | €153,104 | -€49,034 | -24.3% |
| Amounts payable after more than one year | 17 | €111,956 | €101,043 | -€10,913 | -9.7% |
| Financial debts | 170/4 | €111,956 | €101,043 | -€10,913 | -9.7% |
| Amounts payable within one year | 42/48 | €89,440 | €51,314 | -€38,126 | -42.6% |
| Current portion of amounts payable after more than one year | 42 | €10,487 | €10,913 | +€426 | +4.1% |
| Trade debts | 44 | €6,786 | €19,995 | +€13,209 | +195% |
| Suppliers | 440/4 | €6,786 | €19,995 | +€13,209 | +195% |
| Taxes, remuneration and social security | 45 | €13,373 | €14,691 | +€1,318 | +9.9% |
| Taxes | 450/3 | €13,373 | €14,691 | +€1,318 | +9.9% |
| Other amounts payable | 47/48 | €58,794 | €5,715 | -€53,079 | -90.3% |
| Accrued charges and deferred income | 492/3 | €742 | €747 | +€5 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,566 | €22,954 | +€6,388 | +38.6% |
| Other operating charges | 640/8 | €986 | €1,609 | +€623 | +63.2% |
| Gross operating margin | 9900 | €176,345 | €186,605 | +€10,260 | +5.8% |
| Operating profit (loss) | 9901 | €158,793 | €162,042 | +€3,249 | +2.0% |
| Financial income | 75/76B | €3 | €376 | +€373 | +12,433% |
| Recurring financial income | 75 | €3 | €376 | +€373 | +12,433% |
| Financial charges | 65/66B | €3,726 | €5,633 | +€1,907 | +51.2% |
| Recurring financial charges | 65 | €3,726 | €5,633 | +€1,907 | +51.2% |
| Profit (loss) for the period before taxes | 9903 | €155,070 | €156,785 | +€1,715 | +1.1% |
| Income taxes | 67/77 | €48,474 | €49,804 | +€1,330 | +2.7% |
| Profit (loss) for the period | 9904 | €106,596 | €106,981 | +€385 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €106,596 | €106,981 | +€385 | +0.4% |
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 26 October 2026 via checked.be.