J PAINDAVIN: 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.
J PAINDAVIN
Largest movements
- Current investments +€31,724
new in 2025: €31,724
- Tangible fixed assets -€28,848
down €28,848 (-51.0%), from €56,553 to €27,704
of which Land and buildings: -€26,254
- Cash -€20,672
down €20,672 (-27.3%), from €75,736 to €55,065
mainly Current investments (-€31,724) and Contributions, distributions and other (-€27,398)
- Receivables within one year -€4,000
down €4,000 (-24.7%), from €16,219 to €12,220
of which Other amounts receivable: -€10,617
- Reserves -€20,927
down €20,927 (-17.6%), from €119,189 to €98,263
- Other debts -€4,679
down €4,679 (-16.3%), from €28,783 to €24,103
- Tax, wage and social debts +€3,783
up €3,783 (+300%), from €1,259 to €5,042
of which Taxes: +€2,970
- Gross operating margin -€10,293
down €10,293 (-18.6%), from €55,348 to €45,055
- Taxes -€4,062
down €4,062 (-59.7%), from €6,803 to €2,741
- Other operating charges +€1,200
up €1,200 (+35.0%), from €3,424 to €4,623
- Depreciation -€689
down €689 (-2.3%), from €30,074 to €29,385
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 | €151,154 | €129,457 | -€21,696 | -14.4% |
| Fixed assets | 21/28 | €56,553 | €27,704 | -€28,848 | -51.0% |
| Tangible fixed assets | 22/27 | €56,553 | €27,704 | -€28,848 | -51.0% |
| Land and buildings | 22 | €38,294 | €12,041 | -€26,254 | -68.6% |
| Plant, machinery and equipment | 23 | €6,666 | €5,615 | -€1,051 | -15.8% |
| Other tangible fixed assets | 26 | €11,592 | €10,049 | -€1,544 | -13.3% |
| Current assets | 29/58 | €94,601 | €101,753 | +€7,152 | +7.6% |
| Amounts receivable within one year | 40/41 | €16,219 | €12,220 | -€4,000 | -24.7% |
| Trade receivables | 40 | €3,343 | €9,961 | +€6,618 | +198% |
| Other amounts receivable | 41 | €12,877 | €2,259 | -€10,617 | -82.5% |
| Current investments | 50/53 | - | €31,724 | +€31,724 | |
| Cash at bank and in hand | 54/58 | €75,736 | €55,065 | -€20,672 | -27.3% |
| Deferred charges and accrued income | 490/1 | €2,646 | €2,745 | +€99 | +3.7% |
| Total equity and liabilities | 10/49 | €151,154 | €129,457 | -€21,696 | -14.4% |
| Equity | 10/15 | €119,189 | €98,263 | -€20,927 | -17.6% |
| Reserves | 13 | €119,189 | €98,263 | -€20,927 | -17.6% |
| Distributable reserves | 133 | €119,189 | €98,263 | -€20,927 | -17.6% |
| Amounts payable | 17/49 | €31,965 | €31,195 | -€770 | -2.4% |
| Amounts payable within one year | 42/48 | €31,965 | €31,195 | -€770 | -2.4% |
| Trade debts | 44 | €1,923 | €2,050 | +€127 | +6.6% |
| Suppliers | 440/4 | €1,923 | €2,050 | +€127 | +6.6% |
| Taxes, remuneration and social security | 45 | €1,259 | €5,042 | +€3,783 | +300% |
| Taxes | 450/3 | €87 | €3,058 | +€2,970 | +3,395% |
| Remuneration and social security | 454/9 | €1,171 | €1,984 | +€813 | +69.4% |
| Other amounts payable | 47/48 | €28,783 | €24,103 | -€4,679 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,074 | €29,385 | -€689 | -2.3% |
| Other operating charges | 640/8 | €3,424 | €4,623 | +€1,200 | +35.0% |
| Gross operating margin | 9900 | €55,348 | €45,055 | -€10,293 | -18.6% |
| Operating profit (loss) | 9901 | €21,851 | €11,047 | -€10,804 | -49.4% |
| Financial income | 75/76B | €594 | €122 | -€471 | -79.4% |
| Recurring financial income | 75 | €594 | €122 | -€471 | -79.4% |
| Financial charges | 65/66B | €1,780 | €1,957 | +€177 | +10.0% |
| Recurring financial charges | 65 | €1,780 | €1,957 | +€177 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €20,665 | €9,212 | -€11,453 | -55.4% |
| Income taxes | 67/77 | €6,803 | €2,741 | -€4,062 | -59.7% |
| Profit (loss) for the period | 9904 | €13,861 | €6,471 | -€7,390 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,861 | €6,471 | -€7,390 | -53.3% |
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 20 October 2026 via checked.be.