PAPIER BEURRE: 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.
PAPIER BEURRE
Largest movements
- Tangible fixed assets -€2,591
down €2,591 (-16.1%), from €16,091 to €13,500
of which Other tangible fixed assets: -€1,475
- Cash +€1,987
up €1,987 (+6.8%), from €29,283 to €31,270
mainly Net result for the year (+€7,667) and Depreciation (+€2,591)
- Receivables within one year -€728
no longer reported in 2025 (was €728)
- Debts after one year -€10,196
down €10,196 (-49.5%), from €20,595 to €10,399
- Profit (loss) carried forward +€7,667
up €7,667 (+111%), from €6,923 to €14,590
- Tax, wage and social debts +€1,757
up €1,757 (+45.6%), from €3,851 to €5,608
of which Remuneration and social security: +€1,111
- Staff costs +€15,961
up €15,961 (+42.9%), from €37,221 to €53,182
- Gross operating margin +€4,570
up €4,570 (+7.1%), from €64,558 to €69,128
- Financial charges +€1,413
up €1,413 (+55.4%), from €2,552 to €3,965
- Other operating charges +€874
up €874 (+102%), from €855 to €1,729
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 | €52,879 | €51,818 | -€1,061 | -2.0% |
| Fixed assets | 21/28 | €22,091 | €19,500 | -€2,591 | -11.7% |
| Tangible fixed assets | 22/27 | €16,091 | €13,500 | -€2,591 | -16.1% |
| Furniture and vehicles | 24 | €4,157 | €3,041 | -€1,116 | -26.8% |
| Other tangible fixed assets | 26 | €11,934 | €10,459 | -€1,475 | -12.4% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €30,788 | €32,318 | +€1,530 | +5.0% |
| Stocks and contracts in progress | 3 | €777 | €1,048 | +€271 | +34.9% |
| Stocks | 30/36 | €777 | €1,048 | +€271 | +34.9% |
| Amounts receivable within one year | 40/41 | €728 | - | -€728 | |
| Trade receivables | 40 | €728 | - | -€728 | |
| Cash at bank and in hand | 54/58 | €29,283 | €31,270 | +€1,987 | +6.8% |
| Total equity and liabilities | 10/49 | €52,879 | €51,818 | -€1,061 | -2.0% |
| Equity | 10/15 | €16,923 | €24,590 | +€7,667 | +45.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,923 | €14,590 | +€7,667 | +111% |
| Amounts payable | 17/49 | €35,956 | €27,228 | -€8,728 | -24.3% |
| Amounts payable after more than one year | 17 | €20,595 | €10,399 | -€10,196 | -49.5% |
| Financial debts | 170/4 | €20,595 | €10,399 | -€10,196 | -49.5% |
| Amounts payable within one year | 42/48 | €15,361 | €16,829 | +€1,468 | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €9,996 | €10,196 | +€200 | +2.0% |
| Trade debts | 44 | €742 | €253 | -€489 | -65.9% |
| Suppliers | 440/4 | €742 | €253 | -€489 | -65.9% |
| Advances received on contracts in progress | 46 | €772 | €772 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,851 | €5,608 | +€1,757 | +45.6% |
| Taxes | 450/3 | €1,191 | €1,837 | +€646 | +54.2% |
| Remuneration and social security | 454/9 | €2,660 | €3,771 | +€1,111 | +41.8% |
| Remuneration, social security and pensions | 62 | €37,221 | €53,182 | +€15,961 | +42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,591 | €2,591 | = | 0.0% |
| Other operating charges | 640/8 | €855 | €1,729 | +€874 | +102% |
| Gross operating margin | 9900 | €64,558 | €69,128 | +€4,570 | +7.1% |
| Operating profit (loss) | 9901 | €23,891 | €11,626 | -€12,265 | -51.3% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €2,552 | €3,965 | +€1,413 | +55.4% |
| Recurring financial charges | 65 | €2,552 | €3,965 | +€1,413 | +55.4% |
| Profit (loss) for the period before taxes | 9903 | €21,339 | €7,667 | -€13,672 | -64.1% |
| Profit (loss) for the period | 9904 | €21,339 | €7,667 | -€13,672 | -64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,339 | €7,667 | -€13,672 | -64.1% |
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.