PAPERSTRAWS: 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.
PAPERSTRAWS
Largest movements
- Tangible fixed assets +€21,968
up €21,968 (+128.3%), from €17,123 to €39,091
of which Other tangible fixed assets: +€13,945
- Cash +€3,781
up €3,781 (+781.2%), from €484 to €4,265
mainly Other debts (+€47,976) and Depreciation (+€3,191)
- Receivables within one year +€886
up €886 (+46.8%), from €1,893 to €2,779
of which Other amounts receivable: +€704
- Financial fixed assets +€500
new in 2025: €500
- Other debts +€47,976
up €47,976 (+173.0%), from €27,733 to €75,709
- Profit (loss) carried forward -€17,981
down €17,981 (-71.0%), from -€25,314 to -€43,295
- Trade debts -€3,288
down €3,288 (-65.6%), from €5,016 to €1,728
- Depreciation +€1,371
up €1,371 (+75.3%), from €1,820 to €3,191
- Gross operating margin -€983
down €983 (-7.5%), from -€13,052 to -€14,035
- Other operating charges +€498
up €498 (+237.1%), from €210 to €708
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 | €19,835 | €46,992 | +€27,157 | +136.9% |
| Fixed assets | 21/28 | €17,123 | €39,591 | +€22,468 | +131.2% |
| Tangible fixed assets | 22/27 | €17,123 | €39,091 | +€21,968 | +128.3% |
| Plant, machinery and equipment | 23 | €5,400 | €7,578 | +€2,178 | +40.3% |
| Furniture and vehicles | 24 | - | €5,845 | +€5,845 | |
| Other tangible fixed assets | 26 | €11,723 | €25,668 | +€13,945 | +119.0% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €2,712 | €7,401 | +€4,689 | +172.9% |
| Amounts receivable within one year | 40/41 | €1,893 | €2,779 | +€886 | +46.8% |
| Trade receivables | 40 | - | €182 | +€182 | |
| Other amounts receivable | 41 | €1,893 | €2,597 | +€704 | +37.2% |
| Cash at bank and in hand | 54/58 | €484 | €4,265 | +€3,781 | +781.2% |
| Deferred charges and accrued income | 490/1 | €335 | €357 | +€22 | +6.6% |
| Total equity and liabilities | 10/49 | €19,835 | €46,992 | +€27,157 | +136.9% |
| Equity | 10/15 | -€12,914 | -€30,895 | -€17,981 | -139.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,314 | -€43,295 | -€17,981 | -71.0% |
| Amounts payable | 17/49 | €32,749 | €77,887 | +€45,138 | +137.8% |
| Amounts payable after more than one year | 17 | - | €450 | +€450 | |
| Other amounts payable | 178/9 | - | €450 | +€450 | |
| Amounts payable within one year | 42/48 | €32,749 | €77,437 | +€44,688 | +136.5% |
| Trade debts | 44 | €5,016 | €1,728 | -€3,288 | -65.6% |
| Suppliers | 440/4 | €5,016 | €1,728 | -€3,288 | -65.6% |
| Other amounts payable | 47/48 | €27,733 | €75,709 | +€47,976 | +173.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,820 | €3,191 | +€1,371 | +75.3% |
| Other operating charges | 640/8 | €210 | €708 | +€498 | +237.1% |
| Gross operating margin | 9900 | -€13,052 | -€14,035 | -€983 | -7.5% |
| Operating profit (loss) | 9901 | -€15,082 | -€17,934 | -€2,852 | -18.9% |
| Financial charges | 65/66B | €58 | €47 | -€11 | -19.0% |
| Recurring financial charges | 65 | €58 | €47 | -€11 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,140 | -€17,981 | -€2,841 | -18.8% |
| Profit (loss) for the period | 9904 | -€15,140 | -€17,981 | -€2,841 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,140 | -€17,981 | -€2,841 | -18.8% |
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 11 October 2026 via checked.be.