Paolo 2: 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.
Paolo 2
Largest movements
- Intangible fixed assets +€25,000
new in 2025: €25,000
- Financial fixed assets +€10,033
new in 2025: €10,033
- Cash -€7,457
down €7,457 (-28.7%), from €26,027 to €18,570
mainly Investment in fixed assets (net) (-€43,248) and Trade debts (-€147)
- Receivables within one year -€3,721
down €3,721 (-85.4%), from €4,358 to €637
- Tangible fixed assets +€1,390
up €1,390 (+13.6%), from €10,236 to €11,626
of which Furniture and vehicles: +€2,460
- Other debts +€15,288
up €15,288 (+81.9%), from €18,675 to €33,963
- Profit (loss) carried forward +€8,443
up €8,443 (+236%), from €3,578 to €12,021
- Tax, wage and social debts +€1,661
up €1,661 (+201%), from €828 to €2,489
of which Taxes: +€1,216
- Staff costs -€10,590
down €10,590 (-26.9%), from €39,358 to €28,767
- Financial charges +€2,859
up €2,859 (+9,501%), from €30 to €2,889
- Gross operating margin -€2,250
down €2,250 (-4.3%), from €52,109 to €49,859
- Taxes +€1,216
up €1,216 (+136%), from €895 to €2,111
- Depreciation -€1,057
down €1,057 (-13.4%), from €7,882 to €6,825
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 | €40,620 | €65,865 | +€25,245 | +62.1% |
| Fixed assets | 21/28 | €10,236 | €46,658 | +€36,423 | +356% |
| Intangible fixed assets | 21 | - | €25,000 | +€25,000 | |
| Tangible fixed assets | 22/27 | €10,236 | €11,626 | +€1,390 | +13.6% |
| Plant, machinery and equipment | 23 | €4,172 | €1,505 | -€2,667 | -63.9% |
| Furniture and vehicles | 24 | - | €2,460 | +€2,460 | |
| Other tangible fixed assets | 26 | €6,064 | €7,660 | +€1,597 | +26.3% |
| Financial fixed assets | 28 | - | €10,033 | +€10,033 | |
| Current assets | 29/58 | €30,385 | €19,207 | -€11,178 | -36.8% |
| Amounts receivable within one year | 40/41 | €4,358 | €637 | -€3,721 | -85.4% |
| Other amounts receivable | 41 | €4,358 | €637 | -€3,721 | -85.4% |
| Cash at bank and in hand | 54/58 | €26,027 | €18,570 | -€7,457 | -28.7% |
| Total equity and liabilities | 10/49 | €40,620 | €65,865 | +€25,245 | +62.1% |
| Equity | 10/15 | €4,578 | €13,021 | +€8,443 | +184% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,578 | €12,021 | +€8,443 | +236% |
| Amounts payable | 17/49 | €36,042 | €52,844 | +€16,802 | +46.6% |
| Amounts payable within one year | 42/48 | €36,042 | €52,844 | +€16,802 | +46.6% |
| Trade debts | 44 | €16,539 | €16,392 | -€147 | -0.9% |
| Suppliers | 440/4 | €16,539 | €16,392 | -€147 | -0.9% |
| Taxes, remuneration and social security | 45 | €828 | €2,489 | +€1,661 | +201% |
| Taxes | 450/3 | €805 | €2,021 | +€1,216 | +151% |
| Remuneration and social security | 454/9 | €23 | €468 | +€445 | +1,967% |
| Other amounts payable | 47/48 | €18,675 | €33,963 | +€15,288 | +81.9% |
| Remuneration, social security and pensions | 62 | €39,358 | €28,767 | -€10,590 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,882 | €6,825 | -€1,057 | -13.4% |
| Other operating charges | 640/8 | €367 | €824 | +€457 | +125% |
| Gross operating margin | 9900 | €52,109 | €49,859 | -€2,250 | -4.3% |
| Operating profit (loss) | 9901 | €4,502 | €13,442 | +€8,940 | +199% |
| Financial income | 75/76B | €1 | €0 | -€1 | -97.7% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -97.7% |
| Financial charges | 65/66B | €30 | €2,889 | +€2,859 | +9,501% |
| Recurring financial charges | 65 | €30 | €2,889 | +€2,859 | +9,501% |
| Profit (loss) for the period before taxes | 9903 | €4,473 | €10,553 | +€6,080 | +136% |
| Income taxes | 67/77 | €895 | €2,111 | +€1,216 | +136% |
| Profit (loss) for the period | 9904 | €3,578 | €8,443 | +€4,864 | +136% |
| Profit (loss) for the period to be appropriated | 9905 | €3,578 | €8,443 | +€4,864 | +136% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.