PAPETIMMO: 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.
PAPETIMMO
Largest movements
- Receivables within one year -€15,077
down €15,077 (-23.6%), from €63,840 to €48,763
of which Trade receivables: -€18,600
- Cash +€6,763
up €6,763 (+161.9%), from €4,177 to €10,939
mainly Debts after one year (+€29,730) and Net result for the year (+€21,364)
- Stocks and contracts +€2,308
up €2,308 (+14.3%), from €16,110 to €18,418
- Tangible fixed assets -€1,349
down €1,349 (-87.5%), from €1,542 to €193
of which Furniture and vehicles: -€1,046
- Debts after one year +€29,730
new in 2025: €29,730
- Trade debts -€26,248
down €26,248 (-79.6%), from €32,974 to €6,726
- Tax, wage and social debts -€22,479
down €22,479 (-92.7%), from €24,236 to €1,757
of which Remuneration and social security: -€19,547
- Profit (loss) carried forward +€21,364
up €21,364 (+163.6%), from €13,057 to €34,421
- Other debts -€9,537
down €9,537 (-69.9%), from €13,652 to €4,115
- Staff costs -€42,592
down €42,592 (-95.7%), from €44,513 to €1,921
- Gross operating margin +€2,731
up €2,731 (+11.0%), from €24,940 to €27,671
- Other operating charges +€512
up €512 (+132.3%), from €387 to €900
- Depreciation -€296
down €296 (-18.0%), from €1,645 to €1,349
- Financial charges -€290
down €290 (-9.1%), from €3,178 to €2,888
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 | €93,240 | €86,067 | -€7,173 | -7.7% |
| Fixed assets | 21/28 | €8,422 | €7,073 | -€1,349 | -16.0% |
| Tangible fixed assets | 22/27 | €1,542 | €193 | -€1,349 | -87.5% |
| Furniture and vehicles | 24 | €1,115 | €69 | -€1,046 | -93.8% |
| Other tangible fixed assets | 26 | €427 | €124 | -€303 | -71.0% |
| Financial fixed assets | 28 | €6,880 | €6,880 | = | 0.0% |
| Current assets | 29/58 | €84,818 | €78,994 | -€5,824 | -6.9% |
| Stocks and contracts in progress | 3 | €16,110 | €18,418 | +€2,308 | +14.3% |
| Stocks | 30/36 | €16,110 | €18,418 | +€2,308 | +14.3% |
| Amounts receivable within one year | 40/41 | €63,840 | €48,763 | -€15,077 | -23.6% |
| Trade receivables | 40 | €18,790 | €189 | -€18,600 | -99.0% |
| Other amounts receivable | 41 | €45,050 | €48,574 | +€3,524 | +7.8% |
| Cash at bank and in hand | 54/58 | €4,177 | €10,939 | +€6,763 | +161.9% |
| Deferred charges and accrued income | 490/1 | €691 | €873 | +€182 | +26.4% |
| Total equity and liabilities | 10/49 | €93,240 | €86,067 | -€7,173 | -7.7% |
| Equity | 10/15 | €21,217 | €42,581 | +€21,364 | +100.7% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,057 | €34,421 | +€21,364 | +163.6% |
| Amounts payable | 17/49 | €72,023 | €43,486 | -€28,537 | -39.6% |
| Amounts payable after more than one year | 17 | - | €29,730 | +€29,730 | |
| Other amounts payable | 178/9 | - | €29,730 | +€29,730 | |
| Amounts payable within one year | 42/48 | €72,023 | €13,756 | -€58,267 | -80.9% |
| Current portion of amounts payable after more than one year | 42 | €1,161 | €1,158 | -€3 | -0.3% |
| Trade debts | 44 | €32,974 | €6,726 | -€26,248 | -79.6% |
| Suppliers | 440/4 | €32,974 | €6,726 | -€26,248 | -79.6% |
| Taxes, remuneration and social security | 45 | €24,236 | €1,757 | -€22,479 | -92.7% |
| Taxes | 450/3 | €3,038 | €106 | -€2,932 | -96.5% |
| Remuneration and social security | 454/9 | €21,199 | €1,652 | -€19,547 | -92.2% |
| Other amounts payable | 47/48 | €13,652 | €4,115 | -€9,537 | -69.9% |
| Remuneration, social security and pensions | 62 | €44,513 | €1,921 | -€42,592 | -95.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,645 | €1,349 | -€296 | -18.0% |
| Other operating charges | 640/8 | €387 | €900 | +€512 | +132.3% |
| Gross operating margin | 9900 | €24,940 | €27,671 | +€2,731 | +11.0% |
| Operating profit (loss) | 9901 | -€21,606 | €23,500 | +€45,106 | |
| Financial income | 75/76B | €858 | €917 | +€59 | +6.9% |
| Recurring financial income | 75 | €858 | €917 | +€59 | +6.9% |
| Financial charges | 65/66B | €3,178 | €2,888 | -€290 | -9.1% |
| Recurring financial charges | 65 | €3,178 | €2,888 | -€290 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | -€23,927 | €21,529 | +€45,455 | |
| Income taxes | 67/77 | €163 | €165 | +€2 | +1.5% |
| Profit (loss) for the period | 9904 | -€24,089 | €21,364 | +€45,453 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,089 | €21,364 | +€45,453 |
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 8 October 2026 via checked.be.