PAPER & BEANS: 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.
PAPER & BEANS
Largest movements
- Financial fixed assets -€181,500
down €181,500 (-100%), from €181,500 to €0
- Receivables within one year -€9,602
down €9,602 (-17.7%), from €54,225 to €44,623
of which Trade receivables: -€17,257
- Tangible fixed assets +€6,987
new in 2025: €6,987
- Reserves -€80,602
down €80,602 (-68.9%), from €117,003 to €36,401
- Debts after one year -€48,424
down €48,424 (-92.6%), from €52,290 to €3,866
- Profit (loss) carried forward -€25,599
down €25,599, from €0 to -€25,599
- Current portion of long-term debt -€19,064
down €19,064 (-87.9%), from €21,692 to €2,628
- Other debts -€8,413
down €8,413 (-44.9%), from €18,753 to €10,340
- Financial charges +€112,786
up €112,786 (+5,151%), from €2,190 to €114,976
- Gross operating margin -€31,580
down €31,580 (-72.0%), from €43,845 to €12,266
- Taxes -€9,007
down €9,007 (-84.6%), from €10,641 to €1,634
- Depreciation +€1,003
new in 2025: €1,003
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 | €241,603 | €56,995 | -€184,608 | -76.4% |
| Fixed assets | 21/28 | €181,500 | €6,987 | -€174,513 | -96.2% |
| Tangible fixed assets | 22/27 | - | €6,987 | +€6,987 | |
| Furniture and vehicles | 24 | - | €6,987 | +€6,987 | |
| Financial fixed assets | 28 | €181,500 | €0 | -€181,500 | -100% |
| Current assets | 29/58 | €60,103 | €50,007 | -€10,096 | -16.8% |
| Amounts receivable within one year | 40/41 | €54,225 | €44,623 | -€9,602 | -17.7% |
| Trade receivables | 40 | €53,976 | €36,719 | -€17,257 | -32.0% |
| Other amounts receivable | 41 | €249 | €7,904 | +€7,655 | +3,076% |
| Cash at bank and in hand | 54/58 | €5,878 | €5,384 | -€494 | -8.4% |
| Total equity and liabilities | 10/49 | €241,603 | €56,995 | -€184,608 | -76.4% |
| Equity | 10/15 | €135,603 | €29,402 | -€106,201 | -78.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,003 | €36,401 | -€80,602 | -68.9% |
| Distributable reserves | 133 | €117,003 | €36,401 | -€80,602 | -68.9% |
| Profit (loss) carried forward | 14 | €0 | -€25,599 | -€25,599 | |
| Amounts payable | 17/49 | €106,000 | €27,593 | -€78,407 | -74.0% |
| Amounts payable after more than one year | 17 | €52,290 | €3,866 | -€48,424 | -92.6% |
| Financial debts | 170/4 | €52,290 | €3,866 | -€48,424 | -92.6% |
| Amounts payable within one year | 42/48 | €51,799 | €23,727 | -€28,072 | -54.2% |
| Current portion of amounts payable after more than one year | 42 | €21,692 | €2,628 | -€19,064 | -87.9% |
| Financial debts | 43 | €4,712 | €4,703 | -€9 | -0.2% |
| Credit institutions | 430/8 | €4,712 | €4,703 | -€9 | -0.2% |
| Trade debts | 44 | €1,010 | €3,813 | +€2,803 | +278% |
| Suppliers | 440/4 | €1,010 | €3,813 | +€2,803 | +278% |
| Taxes, remuneration and social security | 45 | €5,632 | €2,243 | -€3,389 | -60.2% |
| Taxes | 450/3 | €5,632 | €2,243 | -€3,389 | -60.2% |
| Other amounts payable | 47/48 | €18,753 | €10,340 | -€8,413 | -44.9% |
| Accrued charges and deferred income | 492/3 | €1,912 | €0 | -€1,912 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,003 | +€1,003 | |
| Other operating charges | 640/8 | €499 | €854 | +€355 | +71.0% |
| Gross operating margin | 9900 | €43,845 | €12,266 | -€31,580 | -72.0% |
| Operating profit (loss) | 9901 | €43,346 | €10,409 | -€32,937 | -76.0% |
| Financial income | 75/76B | €48 | €0 | -€48 | -100% |
| Recurring financial income | 75 | €48 | €0 | -€48 | -100% |
| Financial charges | 65/66B | €2,190 | €114,976 | +€112,786 | +5,151% |
| Recurring financial charges | 65 | €2,190 | €114,976 | +€112,786 | +5,151% |
| Profit (loss) for the period before taxes | 9903 | €41,205 | -€104,567 | -€145,771 | |
| Income taxes | 67/77 | €10,641 | €1,634 | -€9,007 | -84.6% |
| Profit (loss) for the period | 9904 | €30,564 | -€106,201 | -€136,765 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,564 | -€106,201 | -€136,765 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.