BERNARD PAULUS: 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.
BERNARD PAULUS
Largest movements
- Receivables within one year +€10,945
up €10,945 (+4.6%), from €235,889 to €246,834
of which Other amounts receivable: +€9,545
- Profit (loss) carried forward +€21,523
up €21,523 (+14.4%), from €149,326 to €170,849
- Short-term financial debts -€6,898
down €6,898 (-73.6%), from €9,372 to €2,474
- Advances received -€3,260
no longer reported in 2025 (was €3,260)
- Gross operating margin +€11,958
up €11,958 (+199.9%), from €5,981 to €17,939
- Taxes +€4,197
up €4,197 (+160.6%), from €2,614 to €6,811
- Financial income -€770
down €770 (-5.7%), from €13,586 to €12,816
- Financial charges -€225
down €225 (-14.0%), from €1,610 to €1,385
of which Non-recurring financial charges: -€136
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €236,288 | €247,135 | +€10,847 | +4.6% |
| Fixed assets | 21/28 | €98 | - | -€98 | |
| Tangible fixed assets | 22/27 | €98 | - | -€98 | |
| Furniture and vehicles | 24 | €98 | - | -€98 | |
| Current assets | 29/58 | €236,190 | €247,135 | +€10,945 | +4.6% |
| Amounts receivable within one year | 40/41 | €235,889 | €246,834 | +€10,945 | +4.6% |
| Trade receivables | 40 | €3,923 | €5,323 | +€1,400 | +35.7% |
| Other amounts receivable | 41 | €231,966 | €241,511 | +€9,545 | +4.1% |
| Deferred charges and accrued income | 490/1 | €301 | €301 | = | 0.0% |
| Total equity and liabilities | 10/49 | €236,288 | €247,135 | +€10,847 | +4.6% |
| Equity | 10/15 | €163,586 | €185,109 | +€21,523 | +13.2% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | €149,326 | €170,849 | +€21,523 | +14.4% |
| Provisions and deferred taxes | 16 | €45,000 | €45,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €45,000 | €45,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €45,000 | €45,000 | = | 0.0% |
| Amounts payable | 17/49 | €27,702 | €17,026 | -€10,676 | -38.5% |
| Amounts payable within one year | 42/48 | €27,702 | €17,026 | -€10,676 | -38.5% |
| Financial debts | 43 | €9,372 | €2,474 | -€6,898 | -73.6% |
| Credit institutions | 430/8 | €9,372 | €2,474 | -€6,898 | -73.6% |
| Trade debts | 44 | €1,771 | €631 | -€1,140 | -64.4% |
| Suppliers | 440/4 | €1,771 | €631 | -€1,140 | -64.4% |
| Advances received on contracts in progress | 46 | €3,260 | - | -€3,260 | |
| Taxes, remuneration and social security | 45 | €13,299 | €13,921 | +€622 | +4.7% |
| Taxes | 450/3 | €13,299 | €13,921 | +€622 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €248 | €98 | -€150 | -60.5% |
| Other operating charges | 640/8 | €870 | €938 | +€68 | +7.8% |
| Gross operating margin | 9900 | €5,981 | €17,939 | +€11,958 | +199.9% |
| Operating profit (loss) | 9901 | €4,863 | €16,903 | +€12,040 | +247.6% |
| Financial income | 75/76B | €13,586 | €12,816 | -€770 | -5.7% |
| Recurring financial income | 75 | €13,586 | €12,816 | -€770 | -5.7% |
| Financial charges | 65/66B | €1,610 | €1,385 | -€225 | -14.0% |
| Recurring financial charges | 65 | €1,433 | €1,344 | -€89 | -6.2% |
| Non-recurring financial charges | 66B | €177 | €41 | -€136 | -76.8% |
| Profit (loss) for the period before taxes | 9903 | €16,839 | €28,334 | +€11,495 | +68.3% |
| Income taxes | 67/77 | €2,614 | €6,811 | +€4,197 | +160.6% |
| Profit (loss) for the period | 9904 | €14,225 | €21,523 | +€7,298 | +51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,225 | €21,523 | +€7,298 | +51.3% |
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 11 October 2026 via checked.be.