PAPERASSI: 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.
PAPERASSI
Largest movements
- Receivables within one year -€36,511
down €36,511 (-15.6%), from €234,721 to €198,211
of which Other amounts receivable: -€36,507
- Cash +€36,200
up €36,200 (+241%), from €15,002 to €51,202
mainly Net result for the year (+€308,294) and Depreciation (+€83,221)
- Tangible fixed assets +€9,227
up €9,227 (+1.7%), from €536,944 to €546,171
of which Furniture and vehicles: +€76,586
- Reserves +€308,294
up €308,294 (+847%), from €36,378 to €344,672
- Other debts -€278,564
down €278,564 (-56.4%), from €493,872 to €215,308
- Debts after one year -€42,230
down €42,230 (-24.2%), from €174,455 to €132,225
- Tax, wage and social debts +€31,921
up €31,921 (+288%), from €11,078 to €42,999
of which Taxes: +€31,921
- Trade debts -€10,592
down €10,592 (-96.6%), from €10,960 to €368
- Gross operating margin +€284,986
up €284,986 (+108%), from €264,306 to €549,292
- Taxes +€92,865
up €92,865 (+176%), from €52,695 to €145,559
- Provisions +€35,000
up €35,000, from -€35,000 to €0
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 | €786,738 | €796,402 | +€9,664 | +1.2% |
| Fixed assets | 21/28 | €536,944 | €546,171 | +€9,227 | +1.7% |
| Tangible fixed assets | 22/27 | €536,944 | €546,171 | +€9,227 | +1.7% |
| Land and buildings | 22 | €475,203 | €414,320 | -€60,883 | -12.8% |
| Plant, machinery and equipment | 23 | €61,386 | €54,910 | -€6,476 | -10.6% |
| Furniture and vehicles | 24 | €355 | €76,941 | +€76,586 | +21,569% |
| Current assets | 29/58 | €249,793 | €250,231 | +€437 | +0.2% |
| Amounts receivable within one year | 40/41 | €234,721 | €198,211 | -€36,511 | -15.6% |
| Trade receivables | 40 | €921 | €918 | -€4 | -0.4% |
| Other amounts receivable | 41 | €233,800 | €197,293 | -€36,507 | -15.6% |
| Cash at bank and in hand | 54/58 | €15,002 | €51,202 | +€36,200 | +241% |
| Deferred charges and accrued income | 490/1 | €70 | €819 | +€748 | +1,064% |
| Total equity and liabilities | 10/49 | €786,738 | €796,402 | +€9,664 | +1.2% |
| Equity | 10/15 | €54,978 | €363,272 | +€308,294 | +561% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,378 | €344,672 | +€308,294 | +847% |
| Distributable reserves | 133 | €36,378 | €344,672 | +€308,294 | +847% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Amounts payable | 17/49 | €731,760 | €433,130 | -€298,630 | -40.8% |
| Amounts payable after more than one year | 17 | €174,455 | €132,225 | -€42,230 | -24.2% |
| Financial debts | 170/4 | €174,455 | €132,225 | -€42,230 | -24.2% |
| Amounts payable within one year | 42/48 | €557,305 | €300,905 | -€256,400 | -46.0% |
| Current portion of amounts payable after more than one year | 42 | €41,395 | €42,230 | +€835 | +2.0% |
| Trade debts | 44 | €10,960 | €368 | -€10,592 | -96.6% |
| Suppliers | 440/4 | €10,960 | €368 | -€10,592 | -96.6% |
| Taxes, remuneration and social security | 45 | €11,078 | €42,999 | +€31,921 | +288% |
| Taxes | 450/3 | €11,078 | €42,999 | +€31,921 | +288% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €493,872 | €215,308 | -€278,564 | -56.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,311 | €83,221 | +€910 | +1.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€35,000 | €0 | +€35,000 | |
| Other operating charges | 640/8 | €4,564 | €4,414 | -€149 | -3.3% |
| Non-recurring operating charges | 66A | - | €755 | +€755 | |
| Gross operating margin | 9900 | €264,306 | €549,292 | +€284,986 | +108% |
| Operating profit (loss) | 9901 | €212,431 | €460,901 | +€248,470 | +117% |
| Financial income | 75/76B | €6,003 | €1,088 | -€4,915 | -81.9% |
| Recurring financial income | 75 | €6,003 | €1,088 | -€4,915 | -81.9% |
| Financial charges | 65/66B | €10,995 | €8,135 | -€2,860 | -26.0% |
| Recurring financial charges | 65 | €10,995 | €8,135 | -€2,860 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €207,438 | €453,854 | +€246,416 | +119% |
| Income taxes | 67/77 | €52,695 | €145,559 | +€92,865 | +176% |
| Profit (loss) for the period | 9904 | €154,743 | €308,294 | +€153,551 | +99.2% |
| Profit (loss) for the period to be appropriated | 9905 | €154,743 | €308,294 | +€153,551 | +99.2% |
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 18 October 2026 via checked.be.