PAPER MOON: 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.
PAPER MOON
Largest movements
- Cash +€166,311
up €166,311 (+1452.2%), from €11,453 to €177,764
mainly Other debts (+€214,845) and Net result for the year (+€80,238)
- Receivables within one year +€71,800
up €71,800 (+78.7%), from €91,200 to €163,000
- Other debts +€214,845
up €214,845 (+51.2%), from €419,983 to €634,828
- Profit (loss) carried forward +€80,238
up €80,238 (+6.3%), from €1.3m to €1.4m
- Debts after one year -€57,000
down €57,000 (-6.8%), from €837,000 to €780,000
- Financial income -€166,000
down €166,000 (-71.9%), from €231,000 to €65,000
- Gross operating margin +€25,405
up €25,405, from -€3,691 to €21,714
- Financial charges -€16,427
down €16,427 (-75.0%), from €21,905 to €5,478
- Purchases and services -€3,691
no longer reported in 2025 (was €3,691)
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 | €2,571,649 | €2,809,760 | +€238,111 | +9.3% |
| Fixed assets | 21/28 | €2,068,996 | €2,068,996 | = | 0.0% |
| Financial fixed assets | 28 | €2,068,996 | €2,068,996 | = | 0.0% |
| Current assets | 29/58 | €502,653 | €740,764 | +€238,111 | +47.4% |
| Amounts receivable after more than one year | 29 | €400,000 | €400,000 | = | 0.0% |
| Other amounts receivable | 291 | €400,000 | €400,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €91,200 | €163,000 | +€71,800 | +78.7% |
| Other amounts receivable | 41 | €91,200 | €163,000 | +€71,800 | +78.7% |
| Cash at bank and in hand | 54/58 | €11,453 | €177,764 | +€166,311 | +1452.2% |
| Total equity and liabilities | 10/49 | €2,571,649 | €2,809,760 | +€238,111 | +9.3% |
| Equity | 10/15 | €1,314,581 | €1,394,819 | +€80,238 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,629 | €25,629 | = | 0.0% |
| Distributable reserves | 133 | €25,629 | €25,629 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,270,352 | €1,350,590 | +€80,238 | +6.3% |
| Amounts payable | 17/49 | €1,257,068 | €1,414,941 | +€157,873 | +12.6% |
| Amounts payable after more than one year | 17 | €837,000 | €780,000 | -€57,000 | -6.8% |
| Other amounts payable | 178/9 | €837,000 | €780,000 | -€57,000 | -6.8% |
| Amounts payable within one year | 42/48 | €420,068 | €634,941 | +€214,873 | +51.2% |
| Trade debts | 44 | €85 | €114 | +€29 | +33.5% |
| Suppliers | 440/4 | €85 | €114 | +€29 | +33.5% |
| Other amounts payable | 47/48 | €419,983 | €634,828 | +€214,845 | +51.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €3,691 | - | -€3,691 | |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€3,691 | €21,714 | +€25,405 | |
| Operating profit (loss) | 9901 | -€4,659 | €20,715 | +€25,374 | |
| Financial income | 75/76B | €231,000 | €65,000 | -€166,000 | -71.9% |
| Recurring financial income | 75 | €231,000 | €65,000 | -€166,000 | -71.9% |
| Financial charges | 65/66B | €21,905 | €5,478 | -€16,427 | -75.0% |
| Recurring financial charges | 65 | €21,905 | €5,478 | -€16,427 | -75.0% |
| Profit (loss) for the period before taxes | 9903 | €204,436 | €80,238 | -€124,198 | -60.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €204,436 | €80,238 | -€124,198 | -60.8% |
| Profit (loss) for the period to be appropriated | 9905 | €204,436 | €80,238 | -€124,198 | -60.8% |
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 5 October 2026 via checked.be.