El Papito: 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.
El Papito
Largest movements
- Cash -€5,835
down €5,835 (-27.6%), from €21,135 to €15,300
mainly Other debts (-€7,011) and Debts after one year (-€6,006)
- Tangible fixed assets -€4,329
down €4,329 (-12.8%), from €33,848 to €29,519
of which Plant, machinery and equipment: -€3,245
- Receivables within one year -€3,403
down €3,403 (-38.0%), from €8,963 to €5,560
of which Trade receivables: -€3,374
- Stocks and contracts +€741
up €741 (+16.5%), from €4,503 to €5,244
- Other debts -€7,011
down €7,011 (-15.7%), from €44,557 to €37,546
- Debts after one year -€6,006
down €6,006 (-28.3%), from €21,220 to €15,213
- Trade debts -€5,346
down €5,346 (-36.9%), from €14,499 to €9,153
- Profit (loss) carried forward +€3,241
up €3,241 (+15.6%), from -€20,750 to -€17,509
- Tax, wage and social debts +€2,694
up €2,694 (+61.4%), from €4,389 to €7,083
of which Taxes: +€1,540
- Gross operating margin +€33,811
up €33,811, from -€611 to €33,200
- Staff costs +€5,364
up €5,364 (+45.1%), from €11,894 to €17,258
- Depreciation +€1,920
up €1,920 (+73.0%), from €2,630 to €4,550
- Financial charges +€1,225
up €1,225 (+38.6%), from €3,174 to €4,398
- Other operating charges +€1,165
up €1,165 (+47.4%), from €2,456 to €3,621
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 | €73,867 | €60,493 | -€13,374 | -18.1% |
| Formation expenses | 20 | €221 | €0 | -€221 | -100% |
| Fixed assets | 21/28 | €38,718 | €34,389 | -€4,329 | -11.2% |
| Tangible fixed assets | 22/27 | €33,848 | €29,519 | -€4,329 | -12.8% |
| Plant, machinery and equipment | 23 | €25,547 | €22,302 | -€3,245 | -12.7% |
| Furniture and vehicles | 24 | €1,836 | €1,427 | -€409 | -22.3% |
| Other tangible fixed assets | 26 | €6,465 | €5,790 | -€676 | -10.4% |
| Financial fixed assets | 28 | €4,870 | €4,870 | = | 0.0% |
| Current assets | 29/58 | €34,929 | €26,104 | -€8,825 | -25.3% |
| Stocks and contracts in progress | 3 | €4,503 | €5,244 | +€741 | +16.5% |
| Stocks | 30/36 | €4,503 | €5,244 | +€741 | +16.5% |
| Amounts receivable within one year | 40/41 | €8,963 | €5,560 | -€3,403 | -38.0% |
| Trade receivables | 40 | €8,783 | €5,409 | -€3,374 | -38.4% |
| Other amounts receivable | 41 | €180 | €151 | -€29 | -16.1% |
| Cash at bank and in hand | 54/58 | €21,135 | €15,300 | -€5,835 | -27.6% |
| Deferred charges and accrued income | 490/1 | €328 | €0 | -€328 | -100% |
| Total equity and liabilities | 10/49 | €73,867 | €60,493 | -€13,374 | -18.1% |
| Equity | 10/15 | -€17,750 | -€14,509 | +€3,241 | +18.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,750 | -€17,509 | +€3,241 | +15.6% |
| Amounts payable | 17/49 | €91,617 | €75,002 | -€16,616 | -18.1% |
| Amounts payable after more than one year | 17 | €21,220 | €15,213 | -€6,006 | -28.3% |
| Financial debts | 170/4 | €21,220 | €15,213 | -€6,006 | -28.3% |
| Amounts payable within one year | 42/48 | €70,398 | €59,788 | -€10,609 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €5,587 | €6,006 | +€419 | +7.5% |
| Trade debts | 44 | €14,499 | €9,153 | -€5,346 | -36.9% |
| Suppliers | 440/4 | €14,499 | €9,153 | -€5,346 | -36.9% |
| Advances received on contracts in progress | 46 | €1,365 | €0 | -€1,365 | -100% |
| Taxes, remuneration and social security | 45 | €4,389 | €7,083 | +€2,694 | +61.4% |
| Taxes | 450/3 | €3,341 | €4,881 | +€1,540 | +46.1% |
| Remuneration and social security | 454/9 | €1,048 | €2,202 | +€1,154 | +110% |
| Other amounts payable | 47/48 | €44,557 | €37,546 | -€7,011 | -15.7% |
| Remuneration, social security and pensions | 62 | €11,894 | €17,258 | +€5,364 | +45.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,630 | €4,550 | +€1,920 | +73.0% |
| Other operating charges | 640/8 | €2,456 | €3,621 | +€1,165 | +47.4% |
| Gross operating margin | 9900 | -€611 | €33,200 | +€33,811 | |
| Operating profit (loss) | 9901 | -€17,591 | €7,771 | +€25,362 | |
| Financial income | 75/76B | €14 | €0 | -€14 | -100% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -100% |
| Financial charges | 65/66B | €3,174 | €4,398 | +€1,225 | +38.6% |
| Recurring financial charges | 65 | €3,174 | €4,398 | +€1,225 | +38.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,750 | €3,373 | +€24,123 | |
| Income taxes | 67/77 | - | €132 | +€132 | |
| Profit (loss) for the period | 9904 | -€20,750 | €3,241 | +€23,991 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,750 | €3,241 | +€23,991 |
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 19 October 2026 via checked.be.