PAINT MASTERS: 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.
PAINT MASTERS
Largest movements
- Stocks and contracts -€104,203
no longer reported in 2025 (was €104,203)
- Cash +€82,880
up €82,880 (+1299.0%), from €6,380 to €89,260
mainly Stocks and contracts (+€104,203) and Net result for the year (+€14,426)
- Receivables within one year -€11,465
down €11,465 (-62.3%), from €18,405 to €6,940
of which Trade receivables: -€7,661
- Other debts -€35,609
down €35,609 (-42.2%), from €84,445 to €48,835
- Reserves -€15,574
down €15,574 (-37.6%), from €41,366 to €25,791
- Trade debts +€12,133
up €12,133 (+362.5%), from €3,347 to €15,480
- Tax, wage and social debts +€5,040
up €5,040 (+1359.8%), from €371 to €5,410
- Gross operating margin +€14,653
up €14,653 (+247.4%), from €5,922 to €20,575
- Staff costs -€5,209
no longer reported in 2025 (was €5,209)
- Taxes +€3,744
up €3,744 (+2246.7%), from €167 to €3,910
- Other operating charges -€1,527
down €1,527 (-64.6%), from €2,365 to €838
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
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 | €131,528 | €97,517 | -€34,011 | -25.9% |
| Fixed assets | 21/28 | €2,539 | €1,317 | -€1,223 | -48.1% |
| Tangible fixed assets | 22/27 | €2,539 | €1,317 | -€1,223 | -48.1% |
| Plant, machinery and equipment | 23 | €850 | €398 | -€452 | -53.1% |
| Furniture and vehicles | 24 | €1,690 | €919 | -€771 | -45.6% |
| Current assets | 29/58 | €128,988 | €96,200 | -€32,788 | -25.4% |
| Stocks and contracts in progress | 3 | €104,203 | - | -€104,203 | |
| Stocks | 30/36 | €104,203 | - | -€104,203 | |
| Amounts receivable within one year | 40/41 | €18,405 | €6,940 | -€11,465 | -62.3% |
| Trade receivables | 40 | €14,021 | €6,360 | -€7,661 | -54.6% |
| Other amounts receivable | 41 | €4,384 | €580 | -€3,804 | -86.8% |
| Cash at bank and in hand | 54/58 | €6,380 | €89,260 | +€82,880 | +1299.0% |
| Total equity and liabilities | 10/49 | €131,528 | €97,517 | -€34,011 | -25.9% |
| Equity | 10/15 | €43,366 | €27,791 | -€15,574 | -35.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €41,366 | €25,791 | -€15,574 | -37.6% |
| Distributable reserves | 133 | €41,366 | €25,791 | -€15,574 | -37.6% |
| Amounts payable | 17/49 | €88,162 | €69,726 | -€18,437 | -20.9% |
| Amounts payable within one year | 42/48 | €88,162 | €69,726 | -€18,437 | -20.9% |
| Trade debts | 44 | €3,347 | €15,480 | +€12,133 | +362.5% |
| Suppliers | 440/4 | €3,347 | €15,480 | +€12,133 | +362.5% |
| Taxes, remuneration and social security | 45 | €371 | €5,410 | +€5,040 | +1359.8% |
| Taxes | 450/3 | €371 | €5,410 | +€5,040 | +1359.8% |
| Other amounts payable | 47/48 | €84,445 | €48,835 | -€35,609 | -42.2% |
| Remuneration, social security and pensions | 62 | €5,209 | - | -€5,209 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,373 | €1,223 | -€150 | -11.0% |
| Other operating charges | 640/8 | €2,365 | €838 | -€1,527 | -64.6% |
| Gross operating margin | 9900 | €5,922 | €20,575 | +€14,653 | +247.4% |
| Operating profit (loss) | 9901 | -€3,025 | €18,514 | +€21,539 | |
| Financial charges | 65/66B | €193 | €177 | -€16 | -8.3% |
| Recurring financial charges | 65 | €193 | €177 | -€16 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,219 | €18,336 | +€21,555 | |
| Income taxes | 67/77 | €167 | €3,910 | +€3,744 | +2246.7% |
| Profit (loss) for the period | 9904 | -€3,385 | €14,426 | +€17,811 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,385 | €14,426 | +€17,811 |
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 10 October 2026 via checked.be.