PAOPAO: 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.
PAOPAO
Largest movements
- Cash -€2,070
down €2,070 (-19.0%), from €10,889 to €8,819
mainly Net result for the year (-€8,026) and Tax, wage and social debts (-€4,630)
- Receivables within one year -€1,615
down €1,615 (-77.7%), from €2,079 to €464
- Stocks and contracts -€1,427
down €1,427 (-38.7%), from €3,683 to €2,256
- Tangible fixed assets -€794
down €794 (-11.4%), from €6,983 to €6,189
of which Plant, machinery and equipment: -€768
- Profit (loss) carried forward -€8,026
down €8,026 (-129%), from -€6,218 to -€14,244
- Trade debts +€5,823
up €5,823 (+61.2%), from €9,522 to €15,345
- Tax, wage and social debts -€4,630
down €4,630 (-26.9%), from €17,225 to €12,595
of which Remuneration and social security: -€2,321
- Other debts +€927
up €927 (+60.9%), from €1,523 to €2,450
- Staff costs +€17,288
up €17,288 (+30.6%), from €56,525 to €73,813
- Gross operating margin -€6,247
down €6,247 (-8.1%), from €76,832 to €70,585
- Financial charges -€981
down €981 (-48.7%), from €2,015 to €1,034
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 | €24,052 | €18,146 | -€5,906 | -24.6% |
| Fixed assets | 21/28 | €7,401 | €6,607 | -€794 | -10.7% |
| Tangible fixed assets | 22/27 | €6,983 | €6,189 | -€794 | -11.4% |
| Land and buildings | 22 | €320 | €183 | -€137 | -42.9% |
| Plant, machinery and equipment | 23 | €1,261 | €493 | -€768 | -60.9% |
| Furniture and vehicles | 24 | €5,402 | €5,513 | +€111 | +2.1% |
| Financial fixed assets | 28 | €418 | €418 | = | 0.0% |
| Current assets | 29/58 | €16,651 | €11,539 | -€5,112 | -30.7% |
| Stocks and contracts in progress | 3 | €3,683 | €2,256 | -€1,427 | -38.7% |
| Stocks | 30/36 | €3,683 | €2,256 | -€1,427 | -38.7% |
| Amounts receivable within one year | 40/41 | €2,079 | €464 | -€1,615 | -77.7% |
| Trade receivables | 40 | €2,079 | €464 | -€1,615 | -77.7% |
| Cash at bank and in hand | 54/58 | €10,889 | €8,819 | -€2,070 | -19.0% |
| Total equity and liabilities | 10/49 | €24,052 | €18,146 | -€5,906 | -24.6% |
| Equity | 10/15 | -€4,218 | -€12,244 | -€8,026 | -190% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,218 | -€14,244 | -€8,026 | -129% |
| Amounts payable | 17/49 | €28,270 | €30,390 | +€2,120 | +7.5% |
| Amounts payable within one year | 42/48 | €28,270 | €30,390 | +€2,120 | +7.5% |
| Trade debts | 44 | €9,522 | €15,345 | +€5,823 | +61.2% |
| Suppliers | 440/4 | €9,522 | €15,345 | +€5,823 | +61.2% |
| Taxes, remuneration and social security | 45 | €17,225 | €12,595 | -€4,630 | -26.9% |
| Taxes | 450/3 | €5,279 | €2,970 | -€2,309 | -43.7% |
| Remuneration and social security | 454/9 | €11,947 | €9,625 | -€2,321 | -19.4% |
| Other amounts payable | 47/48 | €1,523 | €2,450 | +€927 | +60.9% |
| Remuneration, social security and pensions | 62 | €56,525 | €73,813 | +€17,288 | +30.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,865 | €3,193 | +€328 | +11.4% |
| Other operating charges | 640/8 | €735 | €580 | -€154 | -21.0% |
| Gross operating margin | 9900 | €76,832 | €70,585 | -€6,247 | -8.1% |
| Operating profit (loss) | 9901 | €16,707 | -€7,001 | -€23,709 | |
| Financial income | 75/76B | €5 | €9 | +€3 | +59.2% |
| Recurring financial income | 75 | €5 | €9 | +€3 | +59.2% |
| Financial charges | 65/66B | €2,015 | €1,034 | -€981 | -48.7% |
| Recurring financial charges | 65 | €2,015 | €1,034 | -€981 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €14,698 | -€8,026 | -€22,724 | |
| Profit (loss) for the period | 9904 | €14,698 | -€8,026 | -€22,724 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,698 | -€8,026 | -€22,724 |
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 23 October 2026 via checked.be.