PAUFELOS B: 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.
PAUFELOS B
Largest movements
- Receivables within one year +€224,352
up €224,352 (+182%), from €122,938 to €347,290
of which Other amounts receivable: +€167,368
- Tangible fixed assets +€71,400
up €71,400 (+4.7%), from €1.5m to €1.6m
of which Land and buildings: +€66,489
- Cash -€28,475
down €28,475 (-72.3%), from €39,381 to €10,906
mainly Receivables within one year (-€224,352) and Investment in fixed assets (net) (-€154,115)
- Trade debts +€210,203
up €210,203 (+254%), from €82,749 to €292,952
- Profit (loss) carried forward +€93,512
up €93,512 (+54.3%), from -€172,281 to -€78,769
- Other debts -€74,761
down €74,761 (-23.5%), from €317,902 to €243,141
- Current portion of long-term debt +€27,398
up €27,398 (+49.6%), from €55,207 to €82,605
- Gross operating margin +€81,311
up €81,311 (+51.2%), from €158,761 to €240,072
- Financial charges +€43,028
up €43,028 (+231%), from €18,612 to €61,641
- Depreciation -€3,291
down €3,291 (-3.8%), from €86,005 to €82,715
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 | €1,689,921 | €1,956,747 | +€266,826 | +15.8% |
| Fixed assets | 21/28 | €1,527,150 | €1,598,551 | +€71,400 | +4.7% |
| Tangible fixed assets | 22/27 | €1,527,150 | €1,598,551 | +€71,400 | +4.7% |
| Land and buildings | 22 | €1,479,118 | €1,545,607 | +€66,489 | +4.5% |
| Plant, machinery and equipment | 23 | €3,030 | €8,550 | +€5,520 | +182% |
| Furniture and vehicles | 24 | €45,003 | €44,394 | -€608 | -1.4% |
| Current assets | 29/58 | €162,771 | €358,196 | +€195,425 | +120% |
| Amounts receivable within one year | 40/41 | €122,938 | €347,290 | +€224,352 | +182% |
| Trade receivables | 40 | €122,444 | €179,428 | +€56,984 | +46.5% |
| Other amounts receivable | 41 | €495 | €167,863 | +€167,368 | +33,845% |
| Cash at bank and in hand | 54/58 | €39,381 | €10,906 | -€28,475 | -72.3% |
| Deferred charges and accrued income | 490/1 | €452 | - | -€452 | |
| Total equity and liabilities | 10/49 | €1,689,921 | €1,956,747 | +€266,826 | +15.8% |
| Equity | 10/15 | €327,719 | €421,231 | +€93,512 | +28.5% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€172,281 | -€78,769 | +€93,512 | +54.3% |
| Amounts payable | 17/49 | €1,362,203 | €1,535,517 | +€173,314 | +12.7% |
| Amounts payable after more than one year | 17 | €906,345 | €916,677 | +€10,332 | +1.1% |
| Financial debts | 170/4 | €906,345 | €916,677 | +€10,332 | +1.1% |
| Amounts payable within one year | 42/48 | €455,858 | €618,840 | +€162,982 | +35.8% |
| Current portion of amounts payable after more than one year | 42 | €55,207 | €82,605 | +€27,398 | +49.6% |
| Trade debts | 44 | €82,749 | €292,952 | +€210,203 | +254% |
| Suppliers | 440/4 | €82,749 | €292,952 | +€210,203 | +254% |
| Taxes, remuneration and social security | 45 | - | €142 | +€142 | |
| Taxes | 450/3 | - | €142 | +€142 | |
| Other amounts payable | 47/48 | €317,902 | €243,141 | -€74,761 | -23.5% |
| Remuneration, social security and pensions | 62 | €185 | - | -€185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,005 | €82,715 | -€3,291 | -3.8% |
| Other operating charges | 640/8 | €2,765 | €2,205 | -€560 | -20.3% |
| Gross operating margin | 9900 | €158,761 | €240,072 | +€81,311 | +51.2% |
| Operating profit (loss) | 9901 | €69,805 | €155,152 | +€85,347 | +122% |
| Financial income | 75/76B | €0 | €0 | +€0 | +1,700% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +1,700% |
| Financial charges | 65/66B | €18,612 | €61,641 | +€43,028 | +231% |
| Recurring financial charges | 65 | €18,612 | €61,641 | +€43,028 | +231% |
| Profit (loss) for the period before taxes | 9903 | €51,193 | €93,512 | +€42,319 | +82.7% |
| Profit (loss) for the period | 9904 | €51,193 | €93,512 | +€42,319 | +82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,193 | €93,512 | +€42,319 | +82.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.