PAUL ECTOR: 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.
PAUL ECTOR
Largest movements
- Cash +€27,001
up €27,001 (+110%), from €24,501 to €51,502
mainly Current investments (+€15,814) and Receivables within one year (+€6,131)
- Current investments -€15,814
down €15,814 (-7.7%), from €206,199 to €190,385
- Receivables within one year -€6,131
down €6,131 (-77.7%), from €7,885 to €1,755
- Reserves +€3,562
up €3,562 (+1.8%), from €195,001 to €198,563
of which Distributable reserves: +€3,562
- Financial income +€3,754
up €3,754 (+123%), from €3,049 to €6,802
- Gross operating margin -€3,515
down €3,515, from €1,270 to -€2,245
- Taxes -€1,650
down €1,650 (-96.9%), from €1,703 to €53
- Financial charges -€34
down €34 (-21.2%), from €158 to €125
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 | €238,586 | €243,642 | +€5,056 | +2.1% |
| Current assets | 29/58 | €238,586 | €243,642 | +€5,056 | +2.1% |
| Amounts receivable within one year | 40/41 | €7,885 | €1,755 | -€6,131 | -77.7% |
| Other amounts receivable | 41 | €7,885 | €1,755 | -€6,131 | -77.7% |
| Current investments | 50/53 | €206,199 | €190,385 | -€15,814 | -7.7% |
| Cash at bank and in hand | 54/58 | €24,501 | €51,502 | +€27,001 | +110% |
| Total equity and liabilities | 10/49 | €238,586 | €243,642 | +€5,056 | +2.1% |
| Equity | 10/15 | €238,543 | €242,105 | +€3,562 | +1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €195,001 | €198,563 | +€3,562 | +1.8% |
| Non-distributable reserves | 130/1 | €2,408 | €2,408 | = | 0.0% |
| Legal reserve | 130 | - | €2,408 | +€2,408 | |
| Reserves not available under the articles | 1311 | €2,408 | - | -€2,408 | |
| Distributable reserves | 133 | €192,593 | €196,155 | +€3,562 | +1.8% |
| Profit (loss) carried forward | 14 | €24,942 | €24,942 | = | 0.0% |
| Amounts payable | 17/49 | €43 | €1,537 | +€1,494 | +3,443% |
| Amounts payable within one year | 42/48 | €43 | €1,537 | +€1,494 | +3,443% |
| Trade debts | 44 | €43 | €40 | -€3 | -7.3% |
| Suppliers | 440/4 | €43 | €40 | -€3 | -7.3% |
| Other amounts payable | 47/48 | - | €1,497 | +€1,497 | |
| Other operating charges | 640/8 | €815 | €817 | +€2 | +0.3% |
| Gross operating margin | 9900 | €1,270 | -€2,245 | -€3,515 | |
| Operating profit (loss) | 9901 | €455 | -€3,063 | -€3,517 | |
| Financial income | 75/76B | €3,049 | €6,802 | +€3,754 | +123% |
| Recurring financial income | 75 | €3,049 | €6,802 | +€3,754 | +123% |
| Financial charges | 65/66B | €158 | €125 | -€34 | -21.2% |
| Recurring financial charges | 65 | €158 | €125 | -€34 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €3,345 | €3,615 | +€270 | +8.1% |
| Income taxes | 67/77 | €1,703 | €53 | -€1,650 | -96.9% |
| Profit (loss) for the period | 9904 | €1,642 | €3,562 | +€1,920 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €1,642 | €3,562 | +€1,920 | +117% |
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 24 October 2026 via checked.be.