PAPARAM: what changed
Two fiscal 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.
PAPARAM
Largest movements
- Intangible fixed assets -€2,203
no longer reported in 2025 (was €2,203)
- Cash -€1,821
down €1,821 (-12.0%), from €15,178 to €13,358
mainly Net result for the year (-€4,473) and Other debts (-€2,784)
- Receivables within one year -€1,202
down €1,202 (-11.0%), from €10,945 to €9,743
of which Trade receivables: -€1,202
- Stocks and contracts +€739
up €739 (+206.5%), from €358 to €1,097
- Profit (loss) carried forward -€4,473
down €4,473 (-6.5%), from -€68,950 to -€73,422
- Accrued charges and deferred income +€2,841
new in 2025: €2,841
- Other debts -€2,784
down €2,784 (-3.8%), from €73,005 to €70,221
- Trade debts -€727
down €727 (-8.2%), from €8,916 to €8,189
- Tax, wage and social debts +€341
up €341 (+52.7%), from €646 to €986
- Gross operating margin -€13,334
down €13,334, from €12,012 to -€1,322
- Depreciation -€4,662
down €4,662 (-64.9%), from €7,181 to €2,519
- Other operating charges -€945
down €945 (-72.1%), from €1,310 to €365
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 | €32,483 | €27,681 | -€4,802 | -14.8% |
| Fixed assets | 21/28 | €6,002 | €3,483 | -€2,519 | -42.0% |
| Intangible fixed assets | 21 | €2,203 | - | -€2,203 | |
| Tangible fixed assets | 22/27 | €1,016 | €700 | -€316 | -31.1% |
| Plant, machinery and equipment | 23 | €218 | - | -€218 | |
| Other tangible fixed assets | 26 | €798 | €700 | -€98 | -12.3% |
| Financial fixed assets | 28 | €2,783 | €2,783 | = | 0.0% |
| Current assets | 29/58 | €26,481 | €24,198 | -€2,283 | -8.6% |
| Stocks and contracts in progress | 3 | €358 | €1,097 | +€739 | +206.5% |
| Stocks | 30/36 | €358 | €1,097 | +€739 | +206.5% |
| Amounts receivable within one year | 40/41 | €10,945 | €9,743 | -€1,202 | -11.0% |
| Trade receivables | 40 | €9,656 | €8,454 | -€1,202 | -12.4% |
| Other amounts receivable | 41 | €1,289 | €1,289 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,178 | €13,358 | -€1,821 | -12.0% |
| Total equity and liabilities | 10/49 | €32,483 | €27,681 | -€4,802 | -14.8% |
| Equity | 10/15 | -€50,350 | -€54,822 | -€4,473 | -8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,950 | -€73,422 | -€4,473 | -6.5% |
| Amounts payable | 17/49 | €82,833 | €82,504 | -€329 | -0.4% |
| Amounts payable within one year | 42/48 | €82,833 | €79,662 | -€3,171 | -3.8% |
| Trade debts | 44 | €8,916 | €8,189 | -€727 | -8.2% |
| Suppliers | 440/4 | €8,916 | €8,189 | -€727 | -8.2% |
| Advances received on contracts in progress | 46 | €266 | €266 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €646 | €986 | +€341 | +52.7% |
| Taxes | 450/3 | €646 | €986 | +€341 | +52.7% |
| Other amounts payable | 47/48 | €73,005 | €70,221 | -€2,784 | -3.8% |
| Accrued charges and deferred income | 492/3 | - | €2,841 | +€2,841 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,181 | €2,519 | -€4,662 | -64.9% |
| Other operating charges | 640/8 | €1,310 | €365 | -€945 | -72.1% |
| Gross operating margin | 9900 | €12,012 | -€1,322 | -€13,334 | |
| Operating profit (loss) | 9901 | €3,521 | -€4,206 | -€7,727 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +970.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +970.0% |
| Financial charges | 65/66B | €166 | €268 | +€101 | +60.9% |
| Recurring financial charges | 65 | €166 | €268 | +€101 | +60.9% |
| Profit (loss) for the period before taxes | 9903 | €3,355 | -€4,473 | -€7,827 | |
| Profit (loss) for the period | 9904 | €3,355 | -€4,473 | -€7,827 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,355 | -€4,473 | -€7,827 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.