PAPOU: what changed
Two fiscal 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.
PAPOU
Largest movements
- Receivables within one year +€369,956
up €369,956 (+26425.4%), from €1,400 to €371,356
of which Other amounts receivable: +€371,006
- Tangible fixed assets -€181,362
down €181,362 (-43.1%), from €420,419 to €239,057
- Cash +€65,273
up €65,273 (+301.1%), from €21,676 to €86,949
mainly Net result for the year (+€946,608) and Investment in fixed assets (net) (+€157,585)
- Profit (loss) carried forward +€911,708
up €911,708, from -€610,057 to €301,651
- Other debts -€691,736
no longer reported in 2025 (was €691,736)
- Reserves +€34,900
up €34,900 (+3340.1%), from €1,045 to €35,945
- Gross operating margin +€1.0m
up €1.0m (+2257.2%), from €46,463 to €1.1m
- Taxes +€114,876
new in 2025: €114,876
- Depreciation -€14,471
down €14,471 (-37.8%), from €38,248 to €23,777
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 | €443,569 | €697,436 | +€253,867 | +57.2% |
| Fixed assets | 21/28 | €420,493 | €239,132 | -€181,362 | -43.1% |
| Tangible fixed assets | 22/27 | €420,419 | €239,057 | -€181,362 | -43.1% |
| Land and buildings | 22 | €420,419 | €239,057 | -€181,362 | -43.1% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €23,076 | €458,305 | +€435,229 | +1886.1% |
| Amounts receivable within one year | 40/41 | €1,400 | €371,356 | +€369,956 | +26425.4% |
| Trade receivables | 40 | €1,400 | €350 | -€1,050 | -75.0% |
| Other amounts receivable | 41 | - | €371,006 | +€371,006 | |
| Cash at bank and in hand | 54/58 | €21,676 | €86,949 | +€65,273 | +301.1% |
| Total equity and liabilities | 10/49 | €443,569 | €697,436 | +€253,867 | +57.2% |
| Equity | 10/15 | -€249,566 | €697,042 | +€946,608 | |
| Contributions | 10/11 | €359,446 | €359,446 | = | 0.0% |
| Capital | 10 | €359,446 | €359,446 | = | 0.0% |
| Issued capital | 100 | €359,446 | €359,446 | = | 0.0% |
| Reserves | 13 | €1,045 | €35,945 | +€34,900 | +3340.1% |
| Non-distributable reserves | 130/1 | €1,045 | €35,945 | +€34,900 | +3340.1% |
| Legal reserve | 130 | €1,045 | €35,945 | +€34,900 | +3340.1% |
| Profit (loss) carried forward | 14 | -€610,057 | €301,651 | +€911,708 | |
| Amounts payable | 17/49 | €693,136 | €395 | -€692,741 | -99.9% |
| Amounts payable within one year | 42/48 | €693,136 | €395 | -€692,741 | -99.9% |
| Trade debts | 44 | €1,400 | €395 | -€1,005 | -71.8% |
| Suppliers | 440/4 | €1,400 | €395 | -€1,005 | -71.8% |
| Other amounts payable | 47/48 | €691,736 | - | -€691,736 | |
| Non-recurring operating income | 76A | - | €1,100,444 | +€1.1m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,248 | €23,777 | -€14,471 | -37.8% |
| Other operating charges | 640/8 | €5,559 | €8,320 | +€2,761 | +49.7% |
| Gross operating margin | 9900 | €46,463 | €1,095,211 | +€1.0m | +2257.2% |
| Operating profit (loss) | 9901 | €2,655 | €1,063,114 | +€1.1m | +39941.0% |
| Financial charges | 65/66B | €39 | €1,629 | +€1,590 | +4078.1% |
| Recurring financial charges | 65 | €39 | €1,629 | +€1,590 | +4078.1% |
| Profit (loss) for the period before taxes | 9903 | €2,616 | €1,061,484 | +€1.1m | +40475.7% |
| Income taxes | 67/77 | - | €114,876 | +€114,876 | |
| Profit (loss) for the period | 9904 | €2,616 | €946,608 | +€943,992 | +36084.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,616 | €946,608 | +€943,992 | +36084.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.