PAPASON: 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.
PAPASON
Largest movements
- Receivables after one year +€22,000
up €22,000 (+40.0%), from €55,000 to €77,000
- Cash +€5,187
up €5,187 (+210.3%), from €2,466 to €7,653
mainly Net result for the year (+€19,414) and Tax, wage and social debts (+€6,580)
- Reserves +€19,400
up €19,400 (+55.4%), from €34,996 to €54,396
of which Distributable reserves: +€19,400
- Tax, wage and social debts +€6,580
new in 2025: €6,580
- Trade debts +€1,815
new in 2025: €1,815
- Taxes +€6,580
new in 2025: €6,580
- Gross operating margin +€2,658
up €2,658 (+11.1%), from €23,933 to €26,591
- Other operating charges -€1,883
down €1,883 (-91.5%), from €2,058 to €175
- Financial charges -€349
down €349 (-45.2%), from €771 to €422
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 | €57,486 | €84,848 | +€27,362 | +47.6% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €57,486 | €84,848 | +€27,362 | +47.6% |
| Amounts receivable after more than one year | 29 | €55,000 | €77,000 | +€22,000 | +40.0% |
| Other amounts receivable | 291 | €55,000 | €77,000 | +€22,000 | +40.0% |
| Amounts receivable within one year | 40/41 | €20 | €195 | +€175 | +872.0% |
| Other amounts receivable | 41 | €20 | €195 | +€175 | +872.0% |
| Cash at bank and in hand | 54/58 | €2,466 | €7,653 | +€5,187 | +210.3% |
| Total equity and liabilities | 10/49 | €57,486 | €84,848 | +€27,362 | +47.6% |
| Equity | 10/15 | €55,539 | €74,953 | +€19,414 | +35.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €34,996 | €54,396 | +€19,400 | +55.4% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,096 | €33,096 | = | 0.0% |
| Distributable reserves | 133 | - | €19,400 | +€19,400 | |
| Profit (loss) carried forward | 14 | €8,143 | €8,157 | +€14 | +0.2% |
| Amounts payable | 17/49 | €1,947 | €9,895 | +€7,948 | +408.1% |
| Amounts payable after more than one year | 17 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 178/9 | €1,500 | €1,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €447 | €8,395 | +€7,948 | +1776.3% |
| Trade debts | 44 | - | €1,815 | +€1,815 | |
| Suppliers | 440/4 | - | €1,815 | +€1,815 | |
| Taxes, remuneration and social security | 45 | - | €6,580 | +€6,580 | |
| Taxes | 450/3 | - | €6,580 | +€6,580 | |
| Other amounts payable | 47/48 | €447 | - | -€447 | |
| Other operating charges | 640/8 | €2,058 | €175 | -€1,883 | -91.5% |
| Gross operating margin | 9900 | €23,933 | €26,591 | +€2,658 | +11.1% |
| Operating profit (loss) | 9901 | €21,875 | €26,416 | +€4,542 | +20.8% |
| Financial charges | 65/66B | €771 | €422 | -€349 | -45.2% |
| Recurring financial charges | 65 | €771 | €422 | -€349 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €21,104 | €25,994 | +€4,890 | +23.2% |
| Income taxes | 67/77 | - | €6,580 | +€6,580 | |
| Profit (loss) for the period | 9904 | €21,104 | €19,414 | -€1,690 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,104 | €19,414 | -€1,690 | -8.0% |
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 2 October 2026 via checked.be.