LES PAPILLONS: 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.
LES PAPILLONS
Largest movements
- Cash -€5,786
down €5,786 (-10.9%), from €52,956 to €47,171
mainly Other debts (-€7,397) and Investment in fixed assets (net) (-€4,848)
- Stocks and contracts +€3,294
up €3,294 (+649%), from €507 to €3,801
- Tangible fixed assets +€2,871
up €2,871 (+56.8%), from €5,055 to €7,926
of which Other tangible fixed assets: +€4,663
- Receivables within one year +€2,111
up €2,111 (+17.8%), from €11,851 to €13,962
of which Other amounts receivable: +€2,111
- Deferred charges and accrued income +€1,156
up €1,156 (+631%), from €183 to €1,339
- Trade debts +€8,947
up €8,947 (+145%), from €6,162 to €15,109
- Other debts -€7,397
no longer reported in 2025 (was €7,397)
- Profit (loss) carried forward +€1,361
up €1,361 (+7.3%), from €18,645 to €20,007
- Tax, wage and social debts +€1,334
up €1,334 (+7.7%), from €17,404 to €18,738
of which Remuneration and social security: +€861
- Gross operating margin -€21,038
down €21,038 (-40.8%), from €51,571 to €30,533
- Taxes -€7,145
down €7,145 (-93.9%), from €7,606 to €461
- Staff costs +€4,059
up €4,059 (+21.0%), from €19,335 to €23,395
- Depreciation +€1,432
up €1,432 (+263%), from €545 to €1,977
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 | €70,668 | €74,313 | +€3,646 | +5.2% |
| Fixed assets | 21/28 | €5,170 | €8,041 | +€2,871 | +55.5% |
| Tangible fixed assets | 22/27 | €5,055 | €7,926 | +€2,871 | +56.8% |
| Land and buildings | 22 | €1,385 | €1,085 | -€300 | -21.7% |
| Plant, machinery and equipment | 23 | €803 | €294 | -€510 | -63.4% |
| Furniture and vehicles | 24 | €2,867 | €1,883 | -€983 | -34.3% |
| Other tangible fixed assets | 26 | - | €4,663 | +€4,663 | |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €65,497 | €66,273 | +€775 | +1.2% |
| Stocks and contracts in progress | 3 | €507 | €3,801 | +€3,294 | +649% |
| Stocks | 30/36 | €507 | €3,801 | +€3,294 | +649% |
| Amounts receivable within one year | 40/41 | €11,851 | €13,962 | +€2,111 | +17.8% |
| Trade receivables | 40 | €11,129 | €11,129 | = | 0.0% |
| Other amounts receivable | 41 | €721 | €2,832 | +€2,111 | +293% |
| Cash at bank and in hand | 54/58 | €52,956 | €47,171 | -€5,786 | -10.9% |
| Deferred charges and accrued income | 490/1 | €183 | €1,339 | +€1,156 | +631% |
| Total equity and liabilities | 10/49 | €70,668 | €74,313 | +€3,646 | +5.2% |
| Equity | 10/15 | €39,105 | €40,467 | +€1,361 | +3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,645 | €20,007 | +€1,361 | +7.3% |
| Amounts payable | 17/49 | €31,562 | €33,847 | +€2,284 | +7.2% |
| Amounts payable within one year | 42/48 | €30,962 | €33,847 | +€2,884 | +9.3% |
| Trade debts | 44 | €6,162 | €15,109 | +€8,947 | +145% |
| Suppliers | 440/4 | €6,162 | €15,109 | +€8,947 | +145% |
| Taxes, remuneration and social security | 45 | €17,404 | €18,738 | +€1,334 | +7.7% |
| Taxes | 450/3 | €15,847 | €16,321 | +€473 | +3.0% |
| Remuneration and social security | 454/9 | €1,557 | €2,418 | +€861 | +55.3% |
| Other amounts payable | 47/48 | €7,397 | - | -€7,397 | |
| Accrued charges and deferred income | 492/3 | €600 | - | -€600 | |
| Remuneration, social security and pensions | 62 | €19,335 | €23,395 | +€4,059 | +21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €545 | €1,977 | +€1,432 | +263% |
| Other operating charges | 640/8 | €3,069 | €2,742 | -€327 | -10.6% |
| Non-recurring operating charges | 66A | €2 | - | -€2 | |
| Gross operating margin | 9900 | €51,571 | €30,533 | -€21,038 | -40.8% |
| Operating profit (loss) | 9901 | €28,619 | €2,419 | -€26,201 | -91.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €752 | €597 | -€155 | -20.6% |
| Recurring financial charges | 65 | €752 | €597 | -€155 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €27,868 | €1,822 | -€26,046 | -93.5% |
| Income taxes | 67/77 | €7,606 | €461 | -€7,145 | -93.9% |
| Profit (loss) for the period | 9904 | €20,262 | €1,361 | -€18,901 | -93.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,262 | €1,361 | -€18,901 | -93.3% |
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 18 October 2026 via checked.be.