PAUL ICE: 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 ICE
Largest movements
- Cash -€23,551
down €23,551 (-89.1%), from €26,439 to €2,888
mainly Other debts (-€21,125) and Current portion of long-term debt (-€5,389)
- Tangible fixed assets -€8,149
down €8,149 (-22.0%), from €37,028 to €28,879
of which Furniture and vehicles: -€10,267
- Stocks and contracts -€1,529
down €1,529 (-41.2%), from €3,712 to €2,183
- Receivables within one year -€885
down €885 (-57.5%), from €1,538 to €653
of which Trade receivables: -€1,538
- Other debts -€21,125
down €21,125 (-94.4%), from €22,385 to €1,260
- Current portion of long-term debt -€5,389
down €5,389 (-55.7%), from €9,679 to €4,290
- Debts after one year -€4,290
down €4,290 (-43.3%), from €9,917 to €5,627
- Tax, wage and social debts -€2,005
down €2,005 (-97.7%), from €2,053 to €48
- Profit (loss) carried forward -€1,722
down €1,722 (-63.6%), from -€2,707 to -€4,429
- Gross operating margin -€21,984
down €21,984 (-67.9%), from €32,369 to €10,385
- Depreciation -€6,185
down €6,185 (-44.8%), from €13,818 to €7,633
- Staff costs -€1,329
no longer reported in 2025 (was €1,329)
- Other operating charges -€729
down €729 (-16.9%), from €4,327 to €3,598
- Financial charges -€604
down €604 (-42.1%), from €1,433 to €829
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 | €71,400 | €36,454 | -€34,945 | -48.9% |
| Fixed assets | 21/28 | €38,503 | €29,694 | -€8,809 | -22.9% |
| Intangible fixed assets | 21 | €1,475 | €815 | -€661 | -44.8% |
| Tangible fixed assets | 22/27 | €37,028 | €28,879 | -€8,149 | -22.0% |
| Land and buildings | 22 | €11,275 | €10,822 | -€453 | -4.0% |
| Plant, machinery and equipment | 23 | €6,032 | €8,603 | +€2,571 | +42.6% |
| Furniture and vehicles | 24 | €19,721 | €9,454 | -€10,267 | -52.1% |
| Current assets | 29/58 | €32,896 | €6,760 | -€26,136 | -79.4% |
| Stocks and contracts in progress | 3 | €3,712 | €2,183 | -€1,529 | -41.2% |
| Stocks | 30/36 | €3,712 | €2,183 | -€1,529 | -41.2% |
| Amounts receivable within one year | 40/41 | €1,538 | €653 | -€885 | -57.5% |
| Trade receivables | 40 | €1,538 | - | -€1,538 | |
| Other amounts receivable | 41 | - | €653 | +€653 | |
| Cash at bank and in hand | 54/58 | €26,439 | €2,888 | -€23,551 | -89.1% |
| Deferred charges and accrued income | 490/1 | €1,207 | €1,036 | -€171 | -14.2% |
| Total equity and liabilities | 10/49 | €71,400 | €36,454 | -€34,945 | -48.9% |
| Equity | 10/15 | €26,510 | €24,788 | -€1,722 | -6.5% |
| Contributions | 10/11 | €18,592 | €18,600 | +€8 | 0.0% |
| Reserves | 13 | €10,625 | €10,617 | -€8 | -0.1% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Tax-exempt reserves | 132 | €4,958 | €4,958 | = | 0.0% |
| Distributable reserves | 133 | €3,808 | €5,659 | +€1,851 | +48.6% |
| Profit (loss) carried forward | 14 | -€2,707 | -€4,429 | -€1,722 | -63.6% |
| Amounts payable | 17/49 | €44,890 | €11,667 | -€33,223 | -74.0% |
| Amounts payable after more than one year | 17 | €9,917 | €5,627 | -€4,290 | -43.3% |
| Financial debts | 170/4 | €9,917 | €5,627 | -€4,290 | -43.3% |
| Amounts payable within one year | 42/48 | €34,972 | €6,039 | -€28,933 | -82.7% |
| Current portion of amounts payable after more than one year | 42 | €9,679 | €4,290 | -€5,389 | -55.7% |
| Trade debts | 44 | €856 | €442 | -€414 | -48.4% |
| Suppliers | 440/4 | €856 | €442 | -€414 | -48.4% |
| Taxes, remuneration and social security | 45 | €2,053 | €48 | -€2,005 | -97.7% |
| Taxes | 450/3 | €2,053 | €48 | -€2,005 | -97.7% |
| Other amounts payable | 47/48 | €22,385 | €1,260 | -€21,125 | -94.4% |
| Non-recurring operating income | 76A | €12,399 | €20,847 | +€8,449 | +68.1% |
| Remuneration, social security and pensions | 62 | €1,329 | - | -€1,329 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,818 | €7,633 | -€6,185 | -44.8% |
| Other operating charges | 640/8 | €4,327 | €3,598 | -€729 | -16.9% |
| Gross operating margin | 9900 | €32,369 | €10,385 | -€21,984 | -67.9% |
| Operating profit (loss) | 9901 | €12,894 | -€845 | -€13,740 | |
| Financial charges | 65/66B | €1,433 | €829 | -€604 | -42.1% |
| Recurring financial charges | 65 | €1,433 | €829 | -€604 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €11,461 | -€1,675 | -€13,136 | |
| Income taxes | 67/77 | €140 | €48 | -€92 | -65.8% |
| Profit (loss) for the period | 9904 | €11,322 | -€1,722 | -€13,044 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,322 | -€1,722 | -€13,044 |
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 13 October 2026 via checked.be.