Papaver: 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.
Papaver
Largest movements
- Tangible fixed assets +€165,569
up €165,569 (+32.1%), from €515,742 to €681,311
of which Other tangible fixed assets: +€131,065
- Cash -€36,611
down €36,611 (-91.5%), from €40,011 to €3,400
mainly Investment in fixed assets (net) (-€231,184) and Net result for the year (-€59,305)
- Other debts +€105,316
up €105,316 (+8036.6%), from €1,310 to €106,626
- Profit (loss) carried forward -€59,305
down €59,305 (-88.5%), from -€67,044 to -€126,349
- Trade debts +€44,731
up €44,731 (+64.2%), from €69,714 to €114,445
- Current portion of long-term debt +€36,429
up €36,429 (+248.9%), from €14,637 to €51,067
- Advances received -€15,230
no longer reported in 2025 (was €15,230)
- Gross operating margin +€131,269
up €131,269, from -€24,451 to €106,818
- Staff costs +€80,758
new in 2025: €80,758
- Depreciation +€39,166
up €39,166 (+141.2%), from €27,732 to €66,898
- Financial charges +€15,999
up €15,999 (+758.8%), from €2,109 to €18,107
- Other operating charges -€1,611
down €1,611 (-79.3%), from €2,033 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 | €564,162 | €697,392 | +€133,229 | +23.6% |
| Fixed assets | 21/28 | €519,852 | €684,139 | +€164,287 | +31.6% |
| Intangible fixed assets | 21 | €4,110 | €2,503 | -€1,607 | -39.1% |
| Tangible fixed assets | 22/27 | €515,742 | €681,311 | +€165,569 | +32.1% |
| Plant, machinery and equipment | 23 | €2,630 | €37,134 | +€34,504 | +1311.8% |
| Other tangible fixed assets | 26 | €513,111 | €644,177 | +€131,065 | +25.5% |
| Financial fixed assets | 28 | - | €325 | +€325 | |
| Current assets | 29/58 | €44,311 | €13,253 | -€31,058 | -70.1% |
| Amounts receivable after more than one year | 29 | €4,030 | €4,030 | = | 0.0% |
| Other amounts receivable | 291 | €4,030 | €4,030 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €3,405 | +€3,405 | |
| Stocks | 30/36 | - | €3,405 | +€3,405 | |
| Amounts receivable within one year | 40/41 | €270 | €2,370 | +€2,101 | +778.8% |
| Trade receivables | 40 | - | €1,713 | +€1,713 | |
| Other amounts receivable | 41 | €270 | €658 | +€388 | +143.8% |
| Cash at bank and in hand | 54/58 | €40,011 | €3,400 | -€36,611 | -91.5% |
| Deferred charges and accrued income | 490/1 | - | €48 | +€48 | |
| Total equity and liabilities | 10/49 | €564,162 | €697,392 | +€133,229 | +23.6% |
| Equity | 10/15 | €267,256 | €221,901 | -€45,355 | -17.0% |
| Contributions | 10/11 | €334,300 | €348,250 | +€13,950 | +4.2% |
| Profit (loss) carried forward | 14 | -€67,044 | -€126,349 | -€59,305 | -88.5% |
| Amounts payable | 17/49 | €296,906 | €475,491 | +€178,584 | +60.1% |
| Amounts payable after more than one year | 17 | €185,220 | €198,933 | +€13,713 | +7.4% |
| Financial debts | 170/4 | €185,220 | €198,933 | +€13,713 | +7.4% |
| Amounts payable within one year | 42/48 | €111,686 | €276,558 | +€164,871 | +147.6% |
| Current portion of amounts payable after more than one year | 42 | €14,637 | €51,067 | +€36,429 | +248.9% |
| Trade debts | 44 | €69,714 | €114,445 | +€44,731 | +64.2% |
| Suppliers | 440/4 | €69,714 | €114,445 | +€44,731 | +64.2% |
| Advances received on contracts in progress | 46 | €15,230 | - | -€15,230 | |
| Taxes, remuneration and social security | 45 | €10,795 | €4,419 | -€6,375 | -59.1% |
| Taxes | 450/3 | €10,795 | €4,419 | -€6,375 | -59.1% |
| Other amounts payable | 47/48 | €1,310 | €106,626 | +€105,316 | +8036.6% |
| Non-recurring operating income | 76A | - | €34,426 | +€34,426 | |
| Remuneration, social security and pensions | 62 | - | €80,758 | +€80,758 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,732 | €66,898 | +€39,166 | +141.2% |
| Other operating charges | 640/8 | €2,033 | €422 | -€1,611 | -79.3% |
| Gross operating margin | 9900 | -€24,451 | €106,818 | +€131,269 | |
| Operating profit (loss) | 9901 | -€54,216 | -€41,259 | +€12,957 | +23.9% |
| Financial income | 75/76B | - | €62 | +€62 | |
| Recurring financial income | 75 | - | €62 | +€62 | |
| Financial charges | 65/66B | €2,109 | €18,107 | +€15,999 | +758.8% |
| Recurring financial charges | 65 | €2,109 | €18,107 | +€15,999 | +758.8% |
| Profit (loss) for the period before taxes | 9903 | -€56,325 | -€59,305 | -€2,980 | -5.3% |
| Profit (loss) for the period | 9904 | -€56,325 | -€59,305 | -€2,980 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,325 | -€59,305 | -€2,980 | -5.3% |
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.