PapCom: 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.
PapCom
Largest movements
- Cash -€9,120
down €9,120 (-32.5%), from €28,064 to €18,943
mainly Current investments (-€4,171) and Net result for the year (-€3,323)
- Current investments +€4,171
up €4,171 (+26.1%), from €16,005 to €20,176
- Receivables within one year +€858
up €858 (+11.3%), from €7,560 to €8,418
of which Other amounts receivable: +€8,418
- Tangible fixed assets -€821
down €821 (-21.4%), from €3,834 to €3,012
- Profit (loss) carried forward -€3,323
down €3,323 (-6.3%), from €52,911 to €49,588
- Tax, wage and social debts -€1,540
down €1,540 (-99.2%), from €1,553 to €12
- Gross operating margin -€41,592
down €41,592, from €39,150 to -€2,443
- Taxes -€10,279
no longer reported in 2025 (was €10,279)
- Financial income +€452
up €452 (+1343.6%), from €34 to €485
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 | €55,504 | €50,600 | -€4,903 | -8.8% |
| Fixed assets | 21/28 | €3,834 | €3,012 | -€821 | -21.4% |
| Tangible fixed assets | 22/27 | €3,834 | €3,012 | -€821 | -21.4% |
| Furniture and vehicles | 24 | €3,834 | €3,012 | -€821 | -21.4% |
| Current assets | 29/58 | €51,670 | €47,588 | -€4,082 | -7.9% |
| Amounts receivable within one year | 40/41 | €7,560 | €8,418 | +€858 | +11.3% |
| Trade receivables | 40 | €7,560 | - | -€7,560 | |
| Other amounts receivable | 41 | - | €8,418 | +€8,418 | |
| Current investments | 50/53 | €16,005 | €20,176 | +€4,171 | +26.1% |
| Cash at bank and in hand | 54/58 | €28,064 | €18,943 | -€9,120 | -32.5% |
| Deferred charges and accrued income | 490/1 | €41 | €51 | +€10 | +24.6% |
| Total equity and liabilities | 10/49 | €55,504 | €50,600 | -€4,903 | -8.8% |
| Equity | 10/15 | €53,911 | €50,588 | -€3,323 | -6.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,911 | €49,588 | -€3,323 | -6.3% |
| Amounts payable | 17/49 | €1,593 | €12 | -€1,580 | -99.2% |
| Amounts payable within one year | 42/48 | €1,593 | €12 | -€1,580 | -99.2% |
| Taxes, remuneration and social security | 45 | €1,553 | €12 | -€1,540 | -99.2% |
| Taxes | 450/3 | €1,553 | €12 | -€1,540 | -99.2% |
| Other amounts payable | 47/48 | €40 | - | -€40 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €930 | €1,180 | +€251 | +26.9% |
| Gross operating margin | 9900 | €39,150 | -€2,443 | -€41,592 | |
| Operating profit (loss) | 9901 | €38,220 | -€3,623 | -€41,843 | |
| Financial income | 75/76B | €34 | €485 | +€452 | +1343.6% |
| Recurring financial income | 75 | €34 | €485 | +€452 | +1343.6% |
| Financial charges | 65/66B | €103 | €185 | +€82 | +79.7% |
| Recurring financial charges | 65 | €103 | €185 | +€82 | +79.7% |
| Profit (loss) for the period before taxes | 9903 | €38,151 | -€3,323 | -€41,473 | |
| Income taxes | 67/77 | €10,279 | - | -€10,279 | |
| Profit (loss) for the period | 9904 | €27,872 | -€3,323 | -€31,195 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,872 | -€3,323 | -€31,195 |
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 28 September 2026 via checked.be.