PAPPAS & ASSOCIATES SPRL: what changed
What changed
PAPPAS & ASSOCIATES SPRL
NACE 69.101, Activities of lawyers
filed annual accounts (NBB)
Net result for the year
€174,563
2024 · €128,579+€45,984
Equity
€627,229
2024 · €566,531+€60,698
Cash
€29,903
2024 · €75,433-€45,530
Balance sheet total
€733,442
2024 · €895,738-€162,296
Largest movements
Assets
- Receivables within one year -€95,235
down €95,235 (-33.7%), from €282,416 to €187,181
of which Trade receivables: -€90,694
- Cash -€45,530
down €45,530 (-60.4%), from €75,433 to €29,903
mainly Trade debts (-€146,513) and Contributions, distributions and other (-€113,865)
- Tangible fixed assets -€20,694
down €20,694 (-4.8%), from €432,987 to €412,293
of which Other tangible fixed assets: -€11,299
Equity and liabilities
- Trade debts -€146,513
down €146,513 (-86.9%), from €168,689 to €22,176
- Reserves +€60,698
up €60,698 (+11.1%), from €547,931 to €608,629
of which Distributable reserves: +€60,698
- Tax, wage and social debts -€40,797
down €40,797 (-49.9%), from €81,748 to €40,951
- Other debts -€37,201
down €37,201 (-48.1%), from €77,269 to €40,068
Income statement
- Gross operating margin +€54,573
up €54,573 (+25.7%), from €212,583 to €267,157
- Taxes +€23,628
up €23,628 (+37.2%), from €63,448 to €87,075
- Write-downs -€14,583
down €14,583 (-175%), from -€8,333 to -€22,917
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
€128,579
Gross operating margin
+€54,573
Depreciation
-€134
Write-downs
+€14,583
Other operating charges
+€590
Financial income
+€234
Financial charges
-€235
Taxes
-€23,628
Result 2025
€174,563
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
+€74,122
Investment
-€5,787
Financing
-€113,865
Cash 2024
€75,433
From operations (derived)
+€74,122
Net result for the year
+€174,563
Depreciation
+€26,104
Receivables within one year
+€95,235
Deferred charges and accrued income
+€1,214
Trade debts
-€146,513
Tax, wage and social debts
-€40,797
Advances received
+€1,517
Other debts
-€37,201
Investment (derived)
-€5,787
Investment in fixed assets (net)
-€5,410
Current investments
-€377
Financing
-€113,865
Contributions, distributions and other
-€113,865
Cash 2025
€29,903
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €895,738 | €733,442 | -€162,296 | -18.1% |
| Fixed assets | 21/28 | €433,267 | €412,573 | -€20,694 | -4.8% |
| Tangible fixed assets | 22/27 | €432,987 | €412,293 | -€20,694 | -4.8% |
| Land and buildings | 22 | €354,206 | €344,388 | -€9,818 | -2.8% |
| Plant, machinery and equipment | 23 | €4,012 | €1,291 | -€2,721 | -67.8% |
| Furniture and vehicles | 24 | €11,000 | €12,213 | +€1,213 | +11.0% |
| Other tangible fixed assets | 26 | €63,770 | €52,471 | -€11,299 | -17.7% |
| Assets under construction and advance payments | 27 | - | €1,931 | +€1,931 | |
| Financial fixed assets | 28 | €280 | €280 | = | 0.0% |
| Current assets | 29/58 | €462,471 | €320,868 | -€141,603 | -30.6% |
| Amounts receivable within one year | 40/41 | €282,416 | €187,181 | -€95,235 | -33.7% |
| Trade receivables | 40 | €256,100 | €165,406 | -€90,694 | -35.4% |
| Other amounts receivable | 41 | €26,316 | €21,775 | -€4,541 | -17.3% |
| Current investments | 50/53 | €100,400 | €100,778 | +€377 | +0.4% |
| Cash at bank and in hand | 54/58 | €75,433 | €29,903 | -€45,530 | -60.4% |
| Deferred charges and accrued income | 490/1 | €4,221 | €3,007 | -€1,214 | -28.8% |
| Total equity and liabilities | 10/49 | €895,738 | €733,442 | -€162,296 | -18.1% |
| Equity | 10/15 | €566,531 | €627,229 | +€60,698 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €547,931 | €608,629 | +€60,698 | +11.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €546,071 | €606,769 | +€60,698 | +11.1% |
| Amounts payable | 17/49 | €329,207 | €106,213 | -€222,994 | -67.7% |
| Amounts payable within one year | 42/48 | €328,207 | €105,213 | -€222,994 | -67.9% |
| Trade debts | 44 | €168,689 | €22,176 | -€146,513 | -86.9% |
| Suppliers | 440/4 | €168,689 | €22,176 | -€146,513 | -86.9% |
| Advances received on contracts in progress | 46 | €500 | €2,017 | +€1,517 | +303% |
| Taxes, remuneration and social security | 45 | €81,748 | €40,951 | -€40,797 | -49.9% |
| Taxes | 450/3 | €81,748 | €40,951 | -€40,797 | -49.9% |
| Other amounts payable | 47/48 | €77,269 | €40,068 | -€37,201 | -48.1% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,970 | €26,104 | +€134 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,333 | -€22,917 | -€14,583 | -175% |
| Other operating charges | 640/8 | €2,315 | €1,725 | -€590 | -25.5% |
| Gross operating margin | 9900 | €212,583 | €267,157 | +€54,573 | +25.7% |
| Operating profit (loss) | 9901 | €192,632 | €262,244 | +€69,612 | +36.1% |
| Financial income | 75/76B | €306 | €540 | +€234 | +76.4% |
| Recurring financial income | 75 | €306 | €540 | +€234 | +76.4% |
| Financial charges | 65/66B | €911 | €1,146 | +€235 | +25.7% |
| Recurring financial charges | 65 | €911 | €1,146 | +€235 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €192,027 | €261,638 | +€69,612 | +36.3% |
| Income taxes | 67/77 | €63,448 | €87,075 | +€23,628 | +37.2% |
| Profit (loss) for the period | 9904 | €128,579 | €174,563 | +€45,984 | +35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €128,579 | €174,563 | +€45,984 | +35.8% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 4 November 2026 via checked.be.