PAPER-SHOP: 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-SHOP
Largest movements
- Cash +€54,380
up €54,380 (+353%), from €15,407 to €69,787
mainly Net result for the year (+€49,550) and Depreciation (+€42,264)
- Tangible fixed assets -€38,903
down €38,903 (-6.7%), from €584,634 to €545,732
of which Land and buildings: -€27,783
- Reserves +€49,550
up €49,550 (+24.9%), from €198,792 to €248,342
- Debts after one year -€46,402
down €46,402 (-11.1%), from €419,801 to €373,399
- Tax, wage and social debts +€9,475
up €9,475 (+218%), from €4,342 to €13,817
of which Taxes: +€9,475
- Gross operating margin +€40,264
up €40,264 (+45.0%), from €89,441 to €129,705
- Taxes +€13,136
up €13,136 (+192%), from €6,831 to €19,967
- Depreciation -€2,551
down €2,551 (-5.7%), from €44,815 to €42,264
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 | €725,533 | €736,195 | +€10,662 | +1.5% |
| Fixed assets | 21/28 | €584,634 | €545,732 | -€38,903 | -6.7% |
| Tangible fixed assets | 22/27 | €584,634 | €545,732 | -€38,903 | -6.7% |
| Land and buildings | 22 | €544,927 | €517,145 | -€27,783 | -5.1% |
| Plant, machinery and equipment | 23 | €7,027 | €4,628 | -€2,399 | -34.1% |
| Furniture and vehicles | 24 | €32,680 | €23,959 | -€8,721 | -26.7% |
| Current assets | 29/58 | €140,899 | €190,464 | +€49,565 | +35.2% |
| Stocks and contracts in progress | 3 | €104,528 | €105,765 | +€1,237 | +1.2% |
| Stocks | 30/36 | €104,528 | €105,765 | +€1,237 | +1.2% |
| Amounts receivable within one year | 40/41 | €14,145 | €7,827 | -€6,317 | -44.7% |
| Trade receivables | 40 | €5,975 | €7,827 | +€1,852 | +31.0% |
| Other amounts receivable | 41 | €8,169 | €0 | -€8,169 | -100% |
| Cash at bank and in hand | 54/58 | €15,407 | €69,787 | +€54,380 | +353% |
| Deferred charges and accrued income | 490/1 | €6,820 | €7,085 | +€265 | +3.9% |
| Total equity and liabilities | 10/49 | €725,533 | €736,195 | +€10,662 | +1.5% |
| Equity | 10/15 | €217,392 | €266,942 | +€49,550 | +22.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €198,792 | €248,342 | +€49,550 | +24.9% |
| Distributable reserves | 133 | €198,792 | €248,342 | +€49,550 | +24.9% |
| Amounts payable | 17/49 | €508,141 | €469,254 | -€38,888 | -7.7% |
| Amounts payable after more than one year | 17 | €419,801 | €373,399 | -€46,402 | -11.1% |
| Financial debts | 170/4 | €419,801 | €373,399 | -€46,402 | -11.1% |
| Amounts payable within one year | 42/48 | €88,341 | €95,855 | +€7,514 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €46,583 | €46,402 | -€182 | -0.4% |
| Trade debts | 44 | €22,986 | €26,006 | +€3,020 | +13.1% |
| Suppliers | 440/4 | €22,986 | €26,006 | +€3,020 | +13.1% |
| Taxes, remuneration and social security | 45 | €4,342 | €13,817 | +€9,475 | +218% |
| Taxes | 450/3 | €2,582 | €12,057 | +€9,475 | +367% |
| Remuneration and social security | 454/9 | €1,760 | €1,760 | = | 0.0% |
| Other amounts payable | 47/48 | €14,430 | €9,630 | -€4,800 | -33.3% |
| Non-recurring operating income | 76A | €5,000 | €0 | -€5,000 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,815 | €42,264 | -€2,551 | -5.7% |
| Other operating charges | 640/8 | €7,145 | €6,005 | -€1,141 | -16.0% |
| Gross operating margin | 9900 | €89,441 | €129,705 | +€40,264 | +45.0% |
| Operating profit (loss) | 9901 | €37,481 | €81,436 | +€43,956 | +117% |
| Financial income | 75/76B | €67 | €45 | -€22 | -32.5% |
| Recurring financial income | 75 | €67 | €45 | -€22 | -32.5% |
| Financial charges | 65/66B | €13,102 | €11,965 | -€1,137 | -8.7% |
| Recurring financial charges | 65 | €13,102 | €11,965 | -€1,137 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €24,445 | €69,516 | +€45,071 | +184% |
| Income taxes | 67/77 | €6,831 | €19,967 | +€13,136 | +192% |
| Profit (loss) for the period | 9904 | €17,614 | €49,550 | +€31,936 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €17,614 | €49,550 | +€31,936 | +181% |
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 22 October 2026 via checked.be.