PAPAVER ENH: 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.
PAPAVER ENH
Largest movements
- Cash -€14,354
down €14,354 (-99.5%), from €14,432 to €78
mainly Tax, wage and social debts (-€18,288) and Net result for the year (-€16,430)
- Receivables within one year -€8,935
down €8,935 (-43.3%), from €20,635 to €11,700
of which Trade receivables: -€9,872
- Intangible fixed assets -€517
down €517 (-43.7%), from €1,183 to €666
- Tax, wage and social debts -€18,288
down €18,288 (-96.9%), from €18,876 to €588
of which Remuneration and social security: -€15,000
- Profit (loss) carried forward -€16,430
down €16,430 (-1,782%), from -€922 to -€17,352
- Other debts +€10,583
up €10,583 (+530%), from €1,997 to €12,581
- Gross operating margin -€15,660
down €15,660, from €401 to -€15,260
- Financial charges +€183
up €183 (+256%), from €71 to €254
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 | €36,250 | €12,445 | -€23,806 | -65.7% |
| Fixed assets | 21/28 | €1,183 | €666 | -€517 | -43.7% |
| Intangible fixed assets | 21 | €1,183 | €666 | -€517 | -43.7% |
| Current assets | 29/58 | €35,067 | €11,778 | -€23,289 | -66.4% |
| Amounts receivable within one year | 40/41 | €20,635 | €11,700 | -€8,935 | -43.3% |
| Trade receivables | 40 | €20,635 | €10,763 | -€9,872 | -47.8% |
| Other amounts receivable | 41 | - | €937 | +€937 | |
| Cash at bank and in hand | 54/58 | €14,432 | €78 | -€14,354 | -99.5% |
| Total equity and liabilities | 10/49 | €36,250 | €12,445 | -€23,806 | -65.7% |
| Equity | 10/15 | €14,078 | -€2,352 | -€16,430 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€922 | -€17,352 | -€16,430 | -1,782% |
| Amounts payable | 17/49 | €22,172 | €14,796 | -€7,376 | -33.3% |
| Amounts payable within one year | 42/48 | €22,172 | €14,796 | -€7,376 | -33.3% |
| Trade debts | 44 | €1,299 | €1,628 | +€329 | +25.3% |
| Suppliers | 440/4 | €1,299 | €1,628 | +€329 | +25.3% |
| Taxes, remuneration and social security | 45 | €18,876 | €588 | -€18,288 | -96.9% |
| Taxes | 450/3 | €3,876 | €588 | -€3,288 | -84.8% |
| Remuneration and social security | 454/9 | €15,000 | - | -€15,000 | |
| Other amounts payable | 47/48 | €1,997 | €12,581 | +€10,583 | +530% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €367 | €517 | +€150 | +40.7% |
| Other operating charges | 640/8 | €384 | €400 | +€15 | +4.0% |
| Non-recurring operating charges | 66A | €500 | - | -€500 | |
| Gross operating margin | 9900 | €401 | -€15,260 | -€15,660 | |
| Operating profit (loss) | 9901 | -€851 | -€16,176 | -€15,325 | -1,801% |
| Financial charges | 65/66B | €71 | €254 | +€183 | +256% |
| Recurring financial charges | 65 | €71 | €254 | +€183 | +256% |
| Profit (loss) for the period before taxes | 9903 | -€922 | -€16,430 | -€15,508 | -1,682% |
| Profit (loss) for the period | 9904 | -€922 | -€16,430 | -€15,508 | -1,682% |
| Profit (loss) for the period to be appropriated | 9905 | -€922 | -€16,430 | -€15,508 | -1,682% |
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 14 October 2026 via checked.be.