Paper Planes: 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 Planes
Largest movements
- Current investments +€30,625
up €30,625 (+84.6%), from €36,188 to €66,813
- Cash +€12,537
up €12,537 (+380%), from €3,300 to €15,837
mainly Net result for the year (+€30,562) and Investment in fixed assets (net) (+€6,933)
- Reserves +€30,562
up €30,562 (+4.0%), from €765,232 to €795,794
of which Distributable reserves: +€30,562
- Financial income -€601,051
down €601,051 (-99.2%), from €606,176 to €5,125
- Gross operating margin -€51,019
down €51,019 (-51.4%), from €99,222 to €48,204
- Taxes -€13,933
down €13,933 (-51.4%), from €27,088 to €13,156
- Financial charges +€2,057
up €2,057 (+457%), from €450 to €2,507
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 | €880,267 | €913,350 | +€33,083 | +3.8% |
| Fixed assets | 21/28 | €755,154 | €742,058 | -€13,096 | -1.7% |
| Tangible fixed assets | 22/27 | €22,554 | €16,391 | -€6,163 | -27.3% |
| Plant, machinery and equipment | 23 | €3,331 | €2,985 | -€346 | -10.4% |
| Furniture and vehicles | 24 | €19,223 | €13,406 | -€5,817 | -30.3% |
| Financial fixed assets | 28 | €732,600 | €725,667 | -€6,933 | -0.9% |
| Current assets | 29/58 | €125,113 | €171,292 | +€46,179 | +36.9% |
| Amounts receivable after more than one year | 29 | €65,659 | €70,733 | +€5,073 | +7.7% |
| Trade receivables | 290 | €65,659 | €70,733 | +€5,073 | +7.7% |
| Amounts receivable within one year | 40/41 | €17,950 | €15,734 | -€2,217 | -12.3% |
| Trade receivables | 40 | €15,710 | €15,730 | +€20 | +0.1% |
| Other amounts receivable | 41 | €2,240 | €4 | -€2,237 | -99.8% |
| Current investments | 50/53 | €36,188 | €66,813 | +€30,625 | +84.6% |
| Cash at bank and in hand | 54/58 | €3,300 | €15,837 | +€12,537 | +380% |
| Deferred charges and accrued income | 490/1 | €2,016 | €2,176 | +€160 | +7.9% |
| Total equity and liabilities | 10/49 | €880,267 | €913,350 | +€33,083 | +3.8% |
| Equity | 10/15 | €841,432 | €871,994 | +€30,562 | +3.6% |
| Contributions | 10/11 | €76,200 | €76,200 | = | 0.0% |
| Reserves | 13 | €765,232 | €795,794 | +€30,562 | +4.0% |
| Non-distributable reserves | 130/1 | €3,147 | €3,147 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,147 | €3,147 | = | 0.0% |
| Distributable reserves | 133 | €762,085 | €792,646 | +€30,562 | +4.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €38,835 | €41,356 | +€2,521 | +6.5% |
| Amounts payable within one year | 42/48 | €38,835 | €38,981 | +€146 | +0.4% |
| Financial debts | 43 | €218 | €30 | -€188 | -86.1% |
| Credit institutions | 430/8 | €218 | €30 | -€188 | -86.1% |
| Trade debts | 44 | €4,724 | €1,572 | -€3,152 | -66.7% |
| Suppliers | 440/4 | €4,724 | €1,572 | -€3,152 | -66.7% |
| Taxes, remuneration and social security | 45 | €8,880 | €12,530 | +€3,651 | +41.1% |
| Taxes | 450/3 | €8,880 | €12,530 | +€3,651 | +41.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €25,013 | €24,848 | -€165 | -0.7% |
| Accrued charges and deferred income | 492/3 | - | €2,375 | +€2,375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,942 | €6,163 | +€221 | +3.7% |
| Other operating charges | 640/8 | €959 | €941 | -€18 | -1.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €99,222 | €48,204 | -€51,019 | -51.4% |
| Operating profit (loss) | 9901 | €92,321 | €41,100 | -€51,221 | -55.5% |
| Financial income | 75/76B | €606,176 | €5,125 | -€601,051 | -99.2% |
| Recurring financial income | 75 | €606,176 | €5,125 | -€601,051 | -99.2% |
| Financial charges | 65/66B | €450 | €2,507 | +€2,057 | +457% |
| Recurring financial charges | 65 | €450 | €2,507 | +€2,057 | +457% |
| Profit (loss) for the period before taxes | 9903 | €698,047 | €43,718 | -€654,329 | -93.7% |
| Income taxes | 67/77 | €27,088 | €13,156 | -€13,933 | -51.4% |
| Profit (loss) for the period | 9904 | €670,958 | €30,562 | -€640,397 | -95.4% |
| Profit (loss) for the period to be appropriated | 9905 | €670,958 | €30,562 | -€640,397 | -95.4% |
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.