PAPYRUS PRINTING: 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.
PAPYRUS PRINTING
Largest movements
- Current investments +€90,000
up €90,000 (+19.6%), from €460,000 to €550,000
- Cash +€32,099
up €32,099 (+51.7%), from €62,042 to €94,141
mainly Net result for the year (+€88,266) and Depreciation (+€30,793)
- Tangible fixed assets -€19,539
down €19,539 (-8.5%), from €230,636 to €211,097
of which Plant, machinery and equipment: -€11,000
- Receivables within one year -€14,793
down €14,793 (-28.5%), from €51,837 to €37,044
of which Trade receivables: -€14,409
- Reserves +€88,266
up €88,266 (+17.1%), from €514,855 to €603,121
of which Distributable reserves: +€88,266
- Trade debts +€29,429
up €29,429 (+460%), from €6,391 to €35,820
- Other debts -€15,147
down €15,147 (-11.2%), from €135,600 to €120,452
- Financial income +€10,053
up €10,053 (+210%), from €4,789 to €14,842
- Depreciation +€5,847
up €5,847 (+23.4%), from €24,947 to €30,793
- Gross operating margin +€4,932
up €4,932 (+2.5%), from €197,068 to €202,000
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €814,498 | €901,681 | +€87,184 | +10.7% |
| Fixed assets | 21/28 | €230,800 | €211,261 | -€19,539 | -8.5% |
| Tangible fixed assets | 22/27 | €230,636 | €211,097 | -€19,539 | -8.5% |
| Land and buildings | 22 | €145,375 | €147,118 | +€1,744 | +1.2% |
| Plant, machinery and equipment | 23 | €50,479 | €39,479 | -€11,000 | -21.8% |
| Furniture and vehicles | 24 | €34,782 | €24,499 | -€10,283 | -29.6% |
| Financial fixed assets | 28 | €164 | €164 | = | 0.0% |
| Current assets | 29/58 | €583,698 | €690,420 | +€106,723 | +18.3% |
| Stocks and contracts in progress | 3 | €5,960 | €6,580 | +€620 | +10.4% |
| Stocks | 30/36 | €5,960 | €6,580 | +€620 | +10.4% |
| Amounts receivable within one year | 40/41 | €51,837 | €37,044 | -€14,793 | -28.5% |
| Trade receivables | 40 | €51,453 | €37,044 | -€14,409 | -28.0% |
| Other amounts receivable | 41 | €384 | €0 | -€384 | -100% |
| Current investments | 50/53 | €460,000 | €550,000 | +€90,000 | +19.6% |
| Cash at bank and in hand | 54/58 | €62,042 | €94,141 | +€32,099 | +51.7% |
| Deferred charges and accrued income | 490/1 | €3,859 | €2,656 | -€1,203 | -31.2% |
| Total equity and liabilities | 10/49 | €814,498 | €901,681 | +€87,184 | +10.7% |
| Equity | 10/15 | €616,255 | €704,521 | +€88,266 | +14.3% |
| Contributions | 10/11 | €101,400 | €101,400 | = | 0.0% |
| Reserves | 13 | €514,855 | €603,121 | +€88,266 | +17.1% |
| Non-distributable reserves | 130/1 | €10,140 | €10,140 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,140 | €10,140 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,000 | €14,000 | = | 0.0% |
| Distributable reserves | 133 | €490,715 | €578,981 | +€88,266 | +18.0% |
| Amounts payable | 17/49 | €198,242 | €197,160 | -€1,082 | -0.5% |
| Amounts payable after more than one year | 17 | €2,938 | €0 | -€2,938 | -100% |
| Financial debts | 170/4 | €2,938 | €0 | -€2,938 | -100% |
| Amounts payable within one year | 42/48 | €187,999 | €190,685 | +€2,686 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €6,836 | €2,938 | -€3,897 | -57.0% |
| Trade debts | 44 | €6,391 | €35,820 | +€29,429 | +460% |
| Suppliers | 440/4 | €6,391 | €35,820 | +€29,429 | +460% |
| Taxes, remuneration and social security | 45 | €39,173 | €31,475 | -€7,698 | -19.7% |
| Taxes | 450/3 | €32,417 | €24,836 | -€7,581 | -23.4% |
| Remuneration and social security | 454/9 | €6,756 | €6,639 | -€117 | -1.7% |
| Other amounts payable | 47/48 | €135,600 | €120,452 | -€15,147 | -11.2% |
| Accrued charges and deferred income | 492/3 | €7,305 | €6,475 | -€830 | -11.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €43,695 | €45,293 | +€1,597 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,947 | €30,793 | +€5,847 | +23.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €6,259 | €6,452 | +€193 | +3.1% |
| Gross operating margin | 9900 | €197,068 | €202,000 | +€4,932 | +2.5% |
| Operating profit (loss) | 9901 | €122,167 | €119,462 | -€2,705 | -2.2% |
| Financial income | 75/76B | €4,789 | €14,842 | +€10,053 | +210% |
| Recurring financial income | 75 | €4,789 | €14,842 | +€10,053 | +210% |
| Financial charges | 65/66B | €6,776 | €5,582 | -€1,195 | -17.6% |
| Recurring financial charges | 65 | €6,776 | €5,582 | -€1,195 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €120,180 | €128,722 | +€8,542 | +7.1% |
| Income taxes | 67/77 | €38,894 | €40,457 | +€1,562 | +4.0% |
| Profit (loss) for the period | 9904 | €81,286 | €88,266 | +€6,980 | +8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €81,286 | €88,266 | +€6,980 | +8.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.