Papilioj: 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.
Papilioj
Largest movements
- Tangible fixed assets +€35,629
up €35,629 (+76.8%), from €46,369 to €81,998
of which Furniture and vehicles: +€39,174
- Receivables within one year +€10,288
up €10,288 (+22.1%), from €46,472 to €56,760
of which Trade receivables: +€10,289
- Cash -€2,154
down €2,154 (-6.5%), from €33,183 to €31,029
mainly Investment in fixed assets (net) (-€49,315) and Receivables within one year (-€10,288)
- Other debts +€39,239
up €39,239 (+1,379%), from €2,845 to €42,084
- Reserves +€6,180
up €6,180 (+8.5%), from €72,501 to €78,681
- Trade debts +€5,264
up €5,264 (+45.8%), from €11,482 to €16,746
- Debts after one year -€4,420
down €4,420 (-42.3%), from €10,446 to €6,026
- Staff costs +€16,888
up €16,888 (+29.0%), from €58,147 to €75,035
- Gross operating margin +€16,175
up €16,175 (+18.8%), from €86,107 to €102,282
- Depreciation +€8,700
up €8,700 (+174%), from €4,986 to €13,686
- Taxes -€1,808
down €1,808 (-27.8%), from €6,492 to €4,684
- Other operating charges +€1,094
up €1,094 (+84.6%), from €1,293 to €2,387
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 | €129,454 | €173,782 | +€44,328 | +34.2% |
| Fixed assets | 21/28 | €46,369 | €81,998 | +€35,629 | +76.8% |
| Tangible fixed assets | 22/27 | €46,369 | €81,998 | +€35,629 | +76.8% |
| Plant, machinery and equipment | 23 | €23 | €0 | -€23 | -100% |
| Furniture and vehicles | 24 | €6,583 | €45,757 | +€39,174 | +595% |
| Other tangible fixed assets | 26 | €39,763 | €36,241 | -€3,522 | -8.9% |
| Current assets | 29/58 | €83,085 | €91,784 | +€8,699 | +10.5% |
| Stocks and contracts in progress | 3 | €498 | €457 | -€41 | -8.2% |
| Stocks | 30/36 | €498 | €457 | -€41 | -8.2% |
| Amounts receivable within one year | 40/41 | €46,472 | €56,760 | +€10,288 | +22.1% |
| Trade receivables | 40 | €46,380 | €56,668 | +€10,289 | +22.2% |
| Other amounts receivable | 41 | €93 | €92 | -€1 | -1.0% |
| Cash at bank and in hand | 54/58 | €33,183 | €31,029 | -€2,154 | -6.5% |
| Deferred charges and accrued income | 490/1 | €2,931 | €3,538 | +€607 | +20.7% |
| Total equity and liabilities | 10/49 | €129,454 | €173,782 | +€44,328 | +34.2% |
| Equity | 10/15 | €84,901 | €91,081 | +€6,180 | +7.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €72,501 | €78,681 | +€6,180 | +8.5% |
| Distributable reserves | 133 | €72,501 | €78,681 | +€6,180 | +8.5% |
| Amounts payable | 17/49 | €44,553 | €82,700 | +€38,147 | +85.6% |
| Amounts payable after more than one year | 17 | €10,446 | €6,026 | -€4,420 | -42.3% |
| Financial debts | 170/4 | €10,446 | €6,026 | -€4,420 | -42.3% |
| Amounts payable within one year | 42/48 | €33,690 | €76,658 | +€42,967 | +128% |
| Current portion of amounts payable after more than one year | 42 | €4,337 | €4,420 | +€83 | +1.9% |
| Trade debts | 44 | €11,482 | €16,746 | +€5,264 | +45.8% |
| Suppliers | 440/4 | €11,482 | €16,746 | +€5,264 | +45.8% |
| Taxes, remuneration and social security | 45 | €15,026 | €13,407 | -€1,619 | -10.8% |
| Taxes | 450/3 | €12,118 | €10,044 | -€2,074 | -17.1% |
| Remuneration and social security | 454/9 | €2,908 | €3,363 | +€456 | +15.7% |
| Other amounts payable | 47/48 | €2,845 | €42,084 | +€39,239 | +1,379% |
| Accrued charges and deferred income | 492/3 | €416 | €17 | -€400 | -96.0% |
| Remuneration, social security and pensions | 62 | €58,147 | €75,035 | +€16,888 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,986 | €13,686 | +€8,700 | +174% |
| Other operating charges | 640/8 | €1,293 | €2,387 | +€1,094 | +84.6% |
| Gross operating margin | 9900 | €86,107 | €102,282 | +€16,175 | +18.8% |
| Operating profit (loss) | 9901 | €21,680 | €11,174 | -€10,506 | -48.5% |
| Financial income | 75/76B | €3 | €16 | +€13 | +390% |
| Recurring financial income | 75 | €3 | €16 | +€13 | +390% |
| Financial charges | 65/66B | €553 | €326 | -€228 | -41.2% |
| Recurring financial charges | 65 | €553 | €326 | -€228 | -41.2% |
| Profit (loss) for the period before taxes | 9903 | €21,130 | €10,865 | -€10,266 | -48.6% |
| Income taxes | 67/77 | €6,492 | €4,684 | -€1,808 | -27.8% |
| Profit (loss) for the period | 9904 | €14,638 | €6,180 | -€8,458 | -57.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,638 | €6,180 | -€8,458 | -57.8% |
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 18 October 2026 via checked.be.