PAPILLES: 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.
PAPILLES
Largest movements
- Cash -€4,397
down €4,397 (-68.7%), from €6,404 to €2,008
mainly Net result for the year (-€17,485) and Investment in fixed assets (net) (-€12,865)
- Receivables within one year +€3,265
up €3,265 (+182.0%), from €1,794 to €5,059
of which Other amounts receivable: +€2,332
- Intangible fixed assets -€1,000
down €1,000 (-22.1%), from €4,524 to €3,524
- Other debts +€24,273
up €24,273 (+29528.7%), from €82 to €24,355
- Profit (loss) carried forward -€17,485
down €17,485 (-55.4%), from -€31,587 to -€49,072
- Trade debts -€6,668
down €6,668 (-14.7%), from €45,501 to €38,832
- Debts after one year -€5,764
down €5,764 (-24.9%), from €23,189 to €17,425
- Short-term financial debts +€2,187
new in 2025: €2,187
- Gross operating margin +€23,311
up €23,311, from -€20,739 to €2,572
- Depreciation +€7,677
up €7,677 (+108.3%), from €7,091 to €14,768
- Staff costs +€1,450
up €1,450 (+80.6%), from €1,799 to €3,249
- Other operating charges +€254
up €254 (+960.6%), from €26 to €280
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 | €74,484 | €71,056 | -€3,428 | -4.6% |
| Formation expenses | 20 | €2,188 | €1,691 | -€497 | -22.7% |
| Fixed assets | 21/28 | €61,140 | €59,735 | -€1,405 | -2.3% |
| Intangible fixed assets | 21 | €4,524 | €3,524 | -€1,000 | -22.1% |
| Tangible fixed assets | 22/27 | €56,174 | €55,694 | -€480 | -0.9% |
| Plant, machinery and equipment | 23 | €44,753 | €47,106 | +€2,353 | +5.3% |
| Furniture and vehicles | 24 | €8,599 | €6,099 | -€2,500 | -29.1% |
| Other tangible fixed assets | 26 | €2,822 | €2,489 | -€334 | -11.8% |
| Financial fixed assets | 28 | €443 | €518 | +€75 | +16.9% |
| Current assets | 29/58 | €11,155 | €9,630 | -€1,525 | -13.7% |
| Stocks and contracts in progress | 3 | €2,957 | €2,564 | -€393 | -13.3% |
| Stocks | 30/36 | €2,957 | €2,564 | -€393 | -13.3% |
| Amounts receivable within one year | 40/41 | €1,794 | €5,059 | +€3,265 | +182.0% |
| Trade receivables | 40 | €34 | €967 | +€933 | +2770.6% |
| Other amounts receivable | 41 | €1,760 | €4,092 | +€2,332 | +132.5% |
| Cash at bank and in hand | 54/58 | €6,404 | €2,008 | -€4,397 | -68.7% |
| Total equity and liabilities | 10/49 | €74,484 | €71,056 | -€3,428 | -4.6% |
| Equity | 10/15 | -€1,587 | -€19,072 | -€17,485 | -1101.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,587 | -€49,072 | -€17,485 | -55.4% |
| Amounts payable | 17/49 | €76,071 | €90,128 | +€14,057 | +18.5% |
| Amounts payable after more than one year | 17 | €23,189 | €17,425 | -€5,764 | -24.9% |
| Financial debts | 170/4 | €23,189 | €17,425 | -€5,764 | -24.9% |
| Amounts payable within one year | 42/48 | €52,882 | €72,703 | +€19,821 | +37.5% |
| Current portion of amounts payable after more than one year | 42 | €5,483 | €5,764 | +€282 | +5.1% |
| Financial debts | 43 | - | €2,187 | +€2,187 | |
| Credit institutions | 430/8 | - | €2,187 | +€2,187 | |
| Trade debts | 44 | €45,501 | €38,832 | -€6,668 | -14.7% |
| Suppliers | 440/4 | €45,501 | €38,832 | -€6,668 | -14.7% |
| Taxes, remuneration and social security | 45 | €1,816 | €1,565 | -€252 | -13.9% |
| Taxes | 450/3 | €1,250 | €166 | -€1,084 | -86.7% |
| Remuneration and social security | 454/9 | €566 | €1,399 | +€832 | +146.9% |
| Other amounts payable | 47/48 | €82 | €24,355 | +€24,273 | +29528.7% |
| Remuneration, social security and pensions | 62 | €1,799 | €3,249 | +€1,450 | +80.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,091 | €14,768 | +€7,677 | +108.3% |
| Other operating charges | 640/8 | €26 | €280 | +€254 | +960.6% |
| Gross operating margin | 9900 | -€20,739 | €2,572 | +€23,311 | |
| Operating profit (loss) | 9901 | -€29,656 | -€15,725 | +€13,931 | +47.0% |
| Financial income | 75/76B | €0 | €21 | +€21 | +42740.0% |
| Recurring financial income | 75 | €0 | €21 | +€21 | +42740.0% |
| Financial charges | 65/66B | €1,931 | €1,781 | -€150 | -7.8% |
| Recurring financial charges | 65 | €1,931 | €1,781 | -€150 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | -€31,587 | -€17,485 | +€14,102 | +44.6% |
| Profit (loss) for the period | 9904 | -€31,587 | -€17,485 | +€14,102 | +44.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,587 | -€17,485 | +€14,102 | +44.6% |
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.