PARAPH'S: 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.
PARAPH'S
Largest movements
- Stocks and contracts +€204,466
up €204,466 (+3.7%), from €5.5m to €5.7m
- Other debts +€173,109
new in 2025: €173,109
- Financial charges -€74,168
down €74,168 (-32.6%), from €227,809 to €153,642
- Gross operating margin +€27,121
up €27,121 (+20.5%), from €132,477 to €159,598
- Other operating charges -€3,187
down €3,187 (-5.3%), from €59,756 to €56,569
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 | €5,565,070 | €5,728,328 | +€163,258 | +2.9% |
| Current assets | 29/58 | €5,565,070 | €5,728,328 | +€163,258 | +2.9% |
| Stocks and contracts in progress | 3 | €5,520,404 | €5,724,870 | +€204,466 | +3.7% |
| Stocks | 30/36 | €5,520,404 | €5,724,870 | +€204,466 | +3.7% |
| Amounts receivable within one year | 40/41 | €43,918 | €1,214 | -€42,704 | -97.2% |
| Other amounts receivable | 41 | €43,918 | €1,214 | -€42,704 | -97.2% |
| Cash at bank and in hand | 54/58 | €161 | €1,803 | +€1,642 | +1019.4% |
| Deferred charges and accrued income | 490/1 | €587 | €442 | -€145 | -24.8% |
| Total equity and liabilities | 10/49 | €5,565,070 | €5,728,328 | +€163,258 | +2.9% |
| Equity | 10/15 | €1,852,478 | €1,801,865 | -€50,613 | -2.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,830,478 | €1,779,865 | -€50,613 | -2.8% |
| Amounts payable | 17/49 | €3,712,593 | €3,926,463 | +€213,871 | +5.8% |
| Amounts payable within one year | 42/48 | €3,712,593 | €3,913,732 | +€201,139 | +5.4% |
| Financial debts | 43 | €3,685,000 | €3,685,000 | = | 0.0% |
| Credit institutions | 430/8 | €3,685,000 | €3,685,000 | = | 0.0% |
| Trade debts | 44 | €23,583 | €55,623 | +€32,040 | +135.9% |
| Suppliers | 440/4 | €23,583 | €55,623 | +€32,040 | +135.9% |
| Taxes, remuneration and social security | 45 | €4,010 | - | -€4,010 | |
| Taxes | 450/3 | €4,010 | - | -€4,010 | |
| Other amounts payable | 47/48 | - | €173,109 | +€173,109 | |
| Accrued charges and deferred income | 492/3 | - | €12,731 | +€12,731 | |
| Other operating charges | 640/8 | €59,756 | €56,569 | -€3,187 | -5.3% |
| Gross operating margin | 9900 | €132,477 | €159,598 | +€27,121 | +20.5% |
| Operating profit (loss) | 9901 | €72,721 | €103,029 | +€30,308 | +41.7% |
| Financial charges | 65/66B | €227,809 | €153,642 | -€74,168 | -32.6% |
| Recurring financial charges | 65 | €227,809 | €153,642 | -€74,168 | -32.6% |
| Profit (loss) for the period before taxes | 9903 | -€155,088 | -€50,613 | +€104,476 | +67.4% |
| Profit (loss) for the period | 9904 | -€155,088 | -€50,613 | +€104,476 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€155,088 | -€50,613 | +€104,476 | +67.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.