L’EFFET PAPILLON: 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.
L’EFFET PAPILLON
Largest movements
- Stocks and contracts -€7,392
down €7,392 (-9.5%), from €78,074 to €70,682
- Cash +€2,838
up €2,838 (+17.9%), from €15,815 to €18,653
mainly Stocks and contracts (+€7,392) and Other debts (+€5,413)
- Receivables within one year -€1,284
down €1,284 (-80.0%), from €1,605 to €321
of which Trade receivables: -€1,605
- Tangible fixed assets -€1,251
down €1,251 (-33.0%), from €3,790 to €2,538
of which Furniture and vehicles: -€855
- Profit (loss) carried forward -€6,618
down €6,618, from €5,675 to -€943
- Other debts +€5,413
up €5,413 (+7.3%), from €73,958 to €79,371
- Tax, wage and social debts -€4,178
down €4,178 (-40.4%), from €10,352 to €6,173
- Trade debts -€1,759
down €1,759 (-32.8%), from €5,370 to €3,611
- Gross operating margin -€19,808
down €19,808, from €15,624 to -€4,184
- Taxes -€4,234
down €4,234 (-100%), from €4,234 to €0
- Staff costs -€2,106
down €2,106 (-100%), from €2,106 to €0
- Other operating charges -€987
down €987 (-68.0%), from €1,451 to €464
- Financial charges -€247
down €247 (-23.1%), from €1,067 to €820
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 | €101,354 | €94,451 | -€6,903 | -6.8% |
| Fixed assets | 21/28 | €5,860 | €4,608 | -€1,251 | -21.4% |
| Tangible fixed assets | 22/27 | €3,790 | €2,538 | -€1,251 | -33.0% |
| Plant, machinery and equipment | 23 | €1,876 | €1,479 | -€396 | -21.1% |
| Furniture and vehicles | 24 | €1,914 | €1,059 | -€855 | -44.7% |
| Financial fixed assets | 28 | €2,070 | €2,070 | = | 0.0% |
| Current assets | 29/58 | €95,494 | €89,842 | -€5,652 | -5.9% |
| Stocks and contracts in progress | 3 | €78,074 | €70,682 | -€7,392 | -9.5% |
| Stocks | 30/36 | €78,074 | €70,682 | -€7,392 | -9.5% |
| Amounts receivable within one year | 40/41 | €1,605 | €321 | -€1,284 | -80.0% |
| Trade receivables | 40 | €1,605 | €0 | -€1,605 | -100% |
| Other amounts receivable | 41 | - | €321 | +€321 | |
| Cash at bank and in hand | 54/58 | €15,815 | €18,653 | +€2,838 | +17.9% |
| Deferred charges and accrued income | 490/1 | - | €186 | +€186 | |
| Total equity and liabilities | 10/49 | €101,354 | €94,451 | -€6,903 | -6.8% |
| Equity | 10/15 | €11,675 | €5,057 | -€6,618 | -56.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,675 | -€943 | -€6,618 | |
| Amounts payable | 17/49 | €89,679 | €89,394 | -€286 | -0.3% |
| Amounts payable within one year | 42/48 | €89,679 | €89,394 | -€286 | -0.3% |
| Financial debts | 43 | - | €239 | +€239 | |
| Credit institutions | 430/8 | - | €239 | +€239 | |
| Trade debts | 44 | €5,370 | €3,611 | -€1,759 | -32.8% |
| Suppliers | 440/4 | €5,370 | €3,611 | -€1,759 | -32.8% |
| Taxes, remuneration and social security | 45 | €10,352 | €6,173 | -€4,178 | -40.4% |
| Taxes | 450/3 | €10,352 | €6,173 | -€4,178 | -40.4% |
| Other amounts payable | 47/48 | €73,958 | €79,371 | +€5,413 | +7.3% |
| Remuneration, social security and pensions | 62 | €2,106 | €0 | -€2,106 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,216 | €1,251 | +€35 | +2.9% |
| Other operating charges | 640/8 | €1,451 | €464 | -€987 | -68.0% |
| Gross operating margin | 9900 | €15,624 | -€4,184 | -€19,808 | |
| Operating profit (loss) | 9901 | €10,850 | -€5,900 | -€16,750 | |
| Financial income | 75/76B | €126 | €102 | -€23 | -18.6% |
| Recurring financial income | 75 | €126 | €102 | -€23 | -18.6% |
| Financial charges | 65/66B | €1,067 | €820 | -€247 | -23.1% |
| Recurring financial charges | 65 | €1,067 | €820 | -€247 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €9,909 | -€6,618 | -€16,527 | |
| Income taxes | 67/77 | €4,234 | €0 | -€4,234 | -100% |
| Profit (loss) for the period | 9904 | €5,675 | -€6,618 | -€12,292 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,675 | -€6,618 | -€12,292 |
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 27 October 2026 via checked.be.