Papilio & Co.: what changed
What changed
Papilio & Co.
NACE 47.400, Retail sale of information and communication equipment
filed annual accounts (NBB)
Net result for the year
€28,014
2024 · €25,382+€2,632
Equity
€147,472
2024 · €119,459+€28,014
Cash
€84,877
2024 · €62,314+€22,563
Balance sheet total
€286,148
2024 · €284,713+€1,436
Largest movements
Assets
- Cash +€22,563
up €22,563 (+36.2%), from €62,314 to €84,877
mainly Net result for the year (+€28,014) and Depreciation (+€22,785)
- Tangible fixed assets -€20,739
down €20,739 (-11.9%), from €174,662 to €153,923
of which Land and buildings: -€14,317
Equity and liabilities
- Reserves +€28,014
up €28,014 (+26.3%), from €106,496 to €134,509
- Debts after one year -€13,113
down €13,113 (-10.6%), from €123,832 to €110,719
- Tax, wage and social debts -€7,140
down €7,140 (-39.5%), from €18,081 to €10,941
- Other debts -€5,267
down €5,267 (-70.2%), from €7,504 to €2,237
Income statement
- Taxes -€1,910
down €1,910 (-13.8%), from €13,840 to €11,930
- Gross operating margin +€1,065
up €1,065 (+1.7%), from €64,068 to €65,133
- Depreciation +€806
up €806 (+3.7%), from €21,978 to €22,785
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€25,382
Gross operating margin
+€1,065
Depreciation
-€806
Other operating charges
-€176
Financial income
+€28
Financial charges
+€612
Taxes
+€1,910
Result 2025
€28,014
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€37,377
Investment
-€2,045
Financing
-€12,769
Cash 2024
€62,314
From operations (derived)
+€37,377
Net result for the year
+€28,014
Depreciation
+€22,785
Receivables after one year
+€1,056
Receivables within one year
-€213
Deferred charges and accrued income
-€456
Trade debts
-€1,402
Tax, wage and social debts
-€7,140
Other debts
-€5,267
Investment (derived)
-€2,045
Investment in fixed assets (net)
-€2,045
Financing
-€12,769
Debts after one year
-€13,113
Current portion of long-term debt
+€219
Short-term financial debts
+€126
Cash 2025
€84,877
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €284,713 | €286,148 | +€1,436 | +0.5% |
| Fixed assets | 21/28 | €175,412 | €154,673 | -€20,739 | -11.8% |
| Tangible fixed assets | 22/27 | €174,662 | €153,923 | -€20,739 | -11.9% |
| Land and buildings | 22 | €152,027 | €137,710 | -€14,317 | -9.4% |
| Plant, machinery and equipment | 23 | €7,078 | €4,087 | -€2,992 | -42.3% |
| Furniture and vehicles | 24 | €4,509 | €2,064 | -€2,444 | -54.2% |
| Other tangible fixed assets | 26 | €11,048 | €10,062 | -€986 | -8.9% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €109,301 | €131,476 | +€22,175 | +20.3% |
| Amounts receivable after more than one year | 29 | €2,176 | €1,120 | -€1,056 | -48.5% |
| Trade receivables | 290 | €2,176 | €1,120 | -€1,056 | -48.5% |
| Amounts receivable within one year | 40/41 | €43,422 | €43,635 | +€213 | +0.5% |
| Trade receivables | 40 | €30,225 | €30,906 | +€681 | +2.3% |
| Other amounts receivable | 41 | €13,197 | €12,729 | -€468 | -3.5% |
| Cash at bank and in hand | 54/58 | €62,314 | €84,877 | +€22,563 | +36.2% |
| Deferred charges and accrued income | 490/1 | €1,388 | €1,844 | +€456 | +32.8% |
| Total equity and liabilities | 10/49 | €284,713 | €286,148 | +€1,436 | +0.5% |
| Equity | 10/15 | €119,459 | €147,472 | +€28,014 | +23.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €106,496 | €134,509 | +€28,014 | +26.3% |
| Distributable reserves | 133 | €106,496 | €134,509 | +€28,014 | +26.3% |
| Profit (loss) carried forward | 14 | €6,763 | €6,763 | = | 0.0% |
| Amounts payable | 17/49 | €165,254 | €138,676 | -€26,578 | -16.1% |
| Amounts payable after more than one year | 17 | €123,832 | €110,719 | -€13,113 | -10.6% |
| Financial debts | 170/4 | €123,832 | €110,719 | -€13,113 | -10.6% |
| Amounts payable within one year | 42/48 | €41,422 | €27,957 | -€13,465 | -32.5% |
| Current portion of amounts payable after more than one year | 42 | €12,894 | €13,113 | +€219 | +1.7% |
| Financial debts | 43 | €417 | €542 | +€126 | +30.2% |
| Credit institutions | 430/8 | €417 | €542 | +€126 | +30.2% |
| Trade debts | 44 | €2,526 | €1,124 | -€1,402 | -55.5% |
| Suppliers | 440/4 | €2,526 | €1,124 | -€1,402 | -55.5% |
| Taxes, remuneration and social security | 45 | €18,081 | €10,941 | -€7,140 | -39.5% |
| Taxes | 450/3 | €18,081 | €10,941 | -€7,140 | -39.5% |
| Other amounts payable | 47/48 | €7,504 | €2,237 | -€5,267 | -70.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,978 | €22,785 | +€806 | +3.7% |
| Other operating charges | 640/8 | €1,257 | €1,433 | +€176 | +14.0% |
| Gross operating margin | 9900 | €64,068 | €65,133 | +€1,065 | +1.7% |
| Operating profit (loss) | 9901 | €40,832 | €40,915 | +€83 | +0.2% |
| Financial income | 75/76B | €173 | €200 | +€28 | +15.9% |
| Recurring financial income | 75 | €173 | €200 | +€28 | +15.9% |
| Financial charges | 65/66B | €1,783 | €1,172 | -€612 | -34.3% |
| Recurring financial charges | 65 | €1,783 | €1,172 | -€612 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €39,222 | €39,943 | +€722 | +1.8% |
| Income taxes | 67/77 | €13,840 | €11,930 | -€1,910 | -13.8% |
| Profit (loss) for the period | 9904 | €25,382 | €28,014 | +€2,632 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,382 | €28,014 | +€2,632 | +10.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.