Paul AHN: 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.
Paul AHN
Largest movements
- Receivables within one year -€19,343
down €19,343 (-64.5%), from €29,971 to €10,628
of which Trade receivables: -€20,300
- Cash +€8,174
up €8,174 (+20.5%), from €39,805 to €47,979
mainly Receivables within one year (+€19,343) and Depreciation (+€6,969)
- Tangible fixed assets -€4,735
down €4,735 (-28.9%), from €16,402 to €11,667
of which Furniture and vehicles: -€4,613
- Stocks and contracts -€2,329
down €2,329 (-19.7%), from €11,809 to €9,480
- Trade debts -€9,257
down €9,257 (-68.6%), from €13,496 to €4,239
- Tax, wage and social debts -€4,942
down €4,942 (-97.7%), from €5,058 to €116
- Other debts -€3,026
down €3,026 (-4.3%), from €70,204 to €67,179
- Profit (loss) carried forward -€996
new in 2025: -€996
- Gross operating margin -€2,333
down €2,333 (-27.0%), from €8,631 to €6,298
- Depreciation -€1,040
down €1,040 (-13.0%), from €8,009 to €6,969
- Taxes -€116
no longer reported in 2025 (was €116)
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 | €98,576 | €80,355 | -€18,221 | -18.5% |
| Fixed assets | 21/28 | €16,402 | €11,667 | -€4,735 | -28.9% |
| Tangible fixed assets | 22/27 | €16,402 | €11,667 | -€4,735 | -28.9% |
| Land and buildings | 22 | €1,452 | €968 | -€484 | -33.3% |
| Plant, machinery and equipment | 23 | €2,925 | €3,286 | +€361 | +12.4% |
| Furniture and vehicles | 24 | €12,025 | €7,413 | -€4,613 | -38.4% |
| Current assets | 29/58 | €82,174 | €68,688 | -€13,486 | -16.4% |
| Stocks and contracts in progress | 3 | €11,809 | €9,480 | -€2,329 | -19.7% |
| Stocks | 30/36 | €11,809 | €9,480 | -€2,329 | -19.7% |
| Amounts receivable within one year | 40/41 | €29,971 | €10,628 | -€19,343 | -64.5% |
| Trade receivables | 40 | €29,971 | €9,671 | -€20,300 | -67.7% |
| Other amounts receivable | 41 | - | €957 | +€957 | |
| Cash at bank and in hand | 54/58 | €39,805 | €47,979 | +€8,174 | +20.5% |
| Deferred charges and accrued income | 490/1 | €590 | €601 | +€11 | +1.9% |
| Total equity and liabilities | 10/49 | €98,576 | €80,355 | -€18,221 | -18.5% |
| Equity | 10/15 | €9,817 | €8,821 | -€996 | -10.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €4,817 | €4,817 | = | 0.0% |
| Distributable reserves | 133 | €4,817 | €4,817 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€996 | -€996 | |
| Amounts payable | 17/49 | €88,758 | €71,534 | -€17,225 | -19.4% |
| Amounts payable within one year | 42/48 | €88,758 | €71,534 | -€17,225 | -19.4% |
| Trade debts | 44 | €13,496 | €4,239 | -€9,257 | -68.6% |
| Suppliers | 440/4 | €13,496 | €4,239 | -€9,257 | -68.6% |
| Taxes, remuneration and social security | 45 | €5,058 | €116 | -€4,942 | -97.7% |
| Taxes | 450/3 | €5,058 | €116 | -€4,942 | -97.7% |
| Other amounts payable | 47/48 | €70,204 | €67,179 | -€3,026 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,009 | €6,969 | -€1,040 | -13.0% |
| Other operating charges | 640/8 | €149 | €149 | -€0 | -0.2% |
| Gross operating margin | 9900 | €8,631 | €6,298 | -€2,333 | -27.0% |
| Operating profit (loss) | 9901 | €473 | -€820 | -€1,293 | |
| Financial charges | 65/66B | €159 | €176 | +€17 | +10.9% |
| Recurring financial charges | 65 | €159 | €176 | +€17 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €314 | -€996 | -€1,311 | |
| Income taxes | 67/77 | €116 | - | -€116 | |
| Profit (loss) for the period | 9904 | €199 | -€996 | -€1,195 | |
| Profit (loss) for the period to be appropriated | 9905 | €199 | -€996 | -€1,195 |
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 7 October 2026 via checked.be.