PAUL BLESIN: 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 BLESIN
Largest movements
- Tangible fixed assets -€8,119
down €8,119 (-48.7%), from €16,684 to €8,565
of which Furniture and vehicles: -€6,689
- Cash -€6,386
down €6,386 (-67.5%), from €9,467 to €3,080
mainly Net result for the year (-€16,532) and Current portion of long-term debt (-€6,063)
- Receivables within one year -€2,451
down €2,451 (-24.2%), from €10,129 to €7,678
of which Trade receivables: -€1,908
- Profit (loss) carried forward -€16,532
down €16,532 (-169.3%), from -€9,766 to -€26,298
- Current portion of long-term debt -€6,063
down €6,063 (-83.2%), from €7,290 to €1,228
- Other debts +€4,803
up €4,803 (+61.0%), from €7,872 to €12,675
- Trade debts +€1,954
up €1,954 (+982.8%), from €199 to €2,153
- Debts after one year -€1,228
no longer reported in 2025 (was €1,228)
- Gross operating margin +€10,380
up €10,380 (+61.4%), from -€16,900 to -€6,521
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 | €36,280 | €19,324 | -€16,956 | -46.7% |
| Fixed assets | 21/28 | €16,684 | €8,565 | -€8,119 | -48.7% |
| Tangible fixed assets | 22/27 | €16,684 | €8,565 | -€8,119 | -48.7% |
| Furniture and vehicles | 24 | €7,147 | €458 | -€6,689 | -93.6% |
| Other tangible fixed assets | 26 | €9,537 | €8,107 | -€1,430 | -15.0% |
| Current assets | 29/58 | €19,596 | €10,759 | -€8,837 | -45.1% |
| Amounts receivable within one year | 40/41 | €10,129 | €7,678 | -€2,451 | -24.2% |
| Trade receivables | 40 | €7,584 | €5,676 | -€1,908 | -25.2% |
| Other amounts receivable | 41 | €2,545 | €2,002 | -€543 | -21.3% |
| Cash at bank and in hand | 54/58 | €9,467 | €3,080 | -€6,386 | -67.5% |
| Total equity and liabilities | 10/49 | €36,280 | €19,324 | -€16,956 | -46.7% |
| Equity | 10/15 | €19,552 | €3,020 | -€16,532 | -84.6% |
| Contributions | 10/11 | €744 | €744 | = | 0.0% |
| Outside capital | 11 | €744 | €744 | = | 0.0% |
| Other | 1109/19 | €744 | €744 | = | 0.0% |
| Reserves | 13 | €28,574 | €28,574 | = | 0.0% |
| Non-distributable reserves | 130/1 | €74 | €74 | = | 0.0% |
| Reserves not available under the articles | 1311 | €74 | €74 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €23,500 | €23,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,766 | -€26,298 | -€16,532 | -169.3% |
| Amounts payable | 17/49 | €16,728 | €16,304 | -€424 | -2.5% |
| Amounts payable after more than one year | 17 | €1,228 | - | -€1,228 | |
| Financial debts | 170/4 | €1,228 | - | -€1,228 | |
| Amounts payable within one year | 42/48 | €15,500 | €16,304 | +€803 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €7,290 | €1,228 | -€6,063 | -83.2% |
| Trade debts | 44 | €199 | €2,153 | +€1,954 | +982.8% |
| Suppliers | 440/4 | €199 | €2,153 | +€1,954 | +982.8% |
| Taxes, remuneration and social security | 45 | €140 | €248 | +€108 | +77.8% |
| Taxes | 450/3 | €140 | €248 | +€108 | +77.8% |
| Other amounts payable | 47/48 | €7,872 | €12,675 | +€4,803 | +61.0% |
| Non-recurring operating income | 76A | €1,505 | €1,904 | +€399 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,119 | €8,119 | = | 0.0% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | -€16,900 | -€6,521 | +€10,380 | +61.4% |
| Operating profit (loss) | 9901 | -€25,470 | -€15,105 | +€10,365 | +40.7% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €1,157 | €1,180 | +€24 | +2.1% |
| Recurring financial charges | 65 | €1,157 | €1,180 | +€24 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | -€26,627 | -€16,284 | +€10,343 | +38.8% |
| Income taxes | 67/77 | €140 | €248 | +€108 | +77.8% |
| Profit (loss) for the period | 9904 | -€26,766 | -€16,532 | +€10,235 | +38.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,766 | -€16,532 | +€10,235 | +38.2% |
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 2 October 2026 via checked.be.