PAPINGLOO INVEST: 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.
PAPINGLOO INVEST
Largest movements
- Cash -€37,113
down €37,113 (-83.2%), from €44,632 to €7,518
mainly Investment in fixed assets (net) (-€84,424) and Deferred charges and accrued income (-€33,408)
- Deferred charges and accrued income +€33,408
up €33,408 (+1,233%), from €2,709 to €36,118
- Receivables within one year +€23,946
up €23,946 (+61.8%), from €38,729 to €62,675
of which Trade receivables: +€30,627
- Current portion of long-term debt -€25,300
down €25,300 (-100%), from €25,300 to €0
- Gross operating margin +€12,536
up €12,536 (+7.4%), from €168,711 to €181,247
- Financial charges +€11,948
up €11,948 (+23.7%), from €50,492 to €62,441
- Depreciation -€4,958
down €4,958 (-5.2%), from €94,933 to €89,975
- Taxes +€2,173
up €2,173 (+37.9%), from €5,740 to €7,913
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 | €1,909,960 | €1,908,363 | -€1,596 | -0.1% |
| Fixed assets | 21/28 | €1,781,858 | €1,776,307 | -€5,551 | -0.3% |
| Tangible fixed assets | 22/27 | €1,781,858 | €1,776,307 | -€5,551 | -0.3% |
| Land and buildings | 22 | €1,732,399 | €1,762,826 | +€30,427 | +1.8% |
| Plant, machinery and equipment | 23 | €2,773 | €1,846 | -€927 | -33.4% |
| Furniture and vehicles | 24 | €46,687 | €11,636 | -€35,051 | -75.1% |
| Current assets | 29/58 | €128,101 | €132,056 | +€3,955 | +3.1% |
| Stocks and contracts in progress | 3 | €12,031 | €10,746 | -€1,286 | -10.7% |
| Stocks | 30/36 | €12,031 | €10,746 | -€1,286 | -10.7% |
| Amounts receivable within one year | 40/41 | €38,729 | €62,675 | +€23,946 | +61.8% |
| Trade receivables | 40 | €28,823 | €59,450 | +€30,627 | +106% |
| Other amounts receivable | 41 | €9,907 | €3,225 | -€6,681 | -67.4% |
| Current investments | 50/53 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €44,632 | €7,518 | -€37,113 | -83.2% |
| Deferred charges and accrued income | 490/1 | €2,709 | €36,118 | +€33,408 | +1,233% |
| Total equity and liabilities | 10/49 | €1,909,960 | €1,908,363 | -€1,596 | -0.1% |
| Equity | 10/15 | €1,041,601 | €1,059,371 | +€17,770 | +1.7% |
| Contributions | 10/11 | €703,206 | €703,206 | = | 0.0% |
| Reserves | 13 | €320,353 | €338,123 | +€17,770 | +5.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Tax-exempt reserves | 132 | €31,333 | €31,333 | = | 0.0% |
| Distributable reserves | 133 | €289,020 | €306,790 | +€17,770 | +6.1% |
| Profit (loss) carried forward | 14 | €18,042 | €18,042 | = | 0.0% |
| Amounts payable | 17/49 | €868,358 | €848,993 | -€19,366 | -2.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €818,917 | €806,622 | -€12,295 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €25,300 | €0 | -€25,300 | -100% |
| Financial debts | 43 | €1,273 | €1,682 | +€409 | +32.1% |
| Credit institutions | 430/8 | €1,273 | €1,682 | +€409 | +32.1% |
| Trade debts | 44 | €2,569 | €2,546 | -€22 | -0.9% |
| Suppliers | 440/4 | €2,569 | €2,546 | -€22 | -0.9% |
| Taxes, remuneration and social security | 45 | €2,134 | €19,700 | +€17,566 | +823% |
| Taxes | 450/3 | €2,134 | €19,700 | +€17,566 | +823% |
| Other amounts payable | 47/48 | €787,641 | €782,693 | -€4,948 | -0.6% |
| Accrued charges and deferred income | 492/3 | €49,442 | €42,371 | -€7,071 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,933 | €89,975 | -€4,958 | -5.2% |
| Other operating charges | 640/8 | €2,800 | €4,108 | +€1,308 | +46.7% |
| Gross operating margin | 9900 | €168,711 | €181,247 | +€12,536 | +7.4% |
| Operating profit (loss) | 9901 | €70,978 | €87,164 | +€16,185 | +22.8% |
| Financial income | 75/76B | €0 | €960 | +€960 | +9,600,600% |
| Recurring financial income | 75 | €0 | €960 | +€960 | +9,600,600% |
| Financial charges | 65/66B | €50,492 | €62,441 | +€11,948 | +23.7% |
| Recurring financial charges | 65 | €50,492 | €62,441 | +€11,948 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €20,486 | €25,683 | +€5,197 | +25.4% |
| Income taxes | 67/77 | €5,740 | €7,913 | +€2,173 | +37.9% |
| Profit (loss) for the period | 9904 | €14,746 | €17,770 | +€3,024 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,746 | €17,770 | +€3,024 | +20.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.