PAUL JAUBIN: 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 JAUBIN
Largest movements
- Tangible fixed assets -€7,014
down €7,014 (-15.0%), from €46,700 to €39,686
of which Plant, machinery and equipment: -€3,980
- Stocks and contracts -€3,444
down €3,444 (-33.4%), from €10,303 to €6,858
- Receivables within one year +€3,364
up €3,364 (+30.5%), from €11,033 to €14,397
of which Other amounts receivable: +€5,064
- Cash +€2,937
up €2,937 (+613%), from €479 to €3,416
mainly Trade debts (+€13,684) and Depreciation (+€8,090)
- Deferred charges and accrued income +€2,705
up €2,705 (+82.4%), from €3,285 to €5,990
- Profit (loss) carried forward -€13,959
down €13,959 (-17.9%), from -€78,048 to -€92,007
- Trade debts +€13,684
up €13,684 (+21.2%), from €64,520 to €78,205
of which Suppliers: +€12,417
- Other debts -€1,726
down €1,726 (-100%), from €1,726 to €0
- Tax, wage and social debts -€1,661
down €1,661 (-13.1%), from €12,666 to €11,005
of which Remuneration and social security: -€2,769
- Accrued charges and deferred income +€851
up €851 (+31.4%), from €2,710 to €3,561
- Gross operating margin -€6,698
down €6,698 (-23.5%), from €28,527 to €21,830
- Staff costs -€5,142
down €5,142 (-20.2%), from €25,506 to €20,364
- Depreciation -€3,466
down €3,466 (-30.0%), from €11,556 to €8,090
- Financial charges +€613
up €613 (+11.7%), from €5,228 to €5,841
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 | €80,444 | €76,787 | -€3,658 | -4.5% |
| Fixed assets | 21/28 | €55,345 | €46,126 | -€9,219 | -16.7% |
| Tangible fixed assets | 22/27 | €46,700 | €39,686 | -€7,014 | -15.0% |
| Plant, machinery and equipment | 23 | €20,125 | €16,145 | -€3,980 | -19.8% |
| Furniture and vehicles | 24 | €100 | €0 | -€100 | -100% |
| Other tangible fixed assets | 26 | €26,475 | €23,541 | -€2,934 | -11.1% |
| Financial fixed assets | 28 | €8,645 | €6,440 | -€2,205 | -25.5% |
| Current assets | 29/58 | €25,099 | €30,660 | +€5,561 | +22.2% |
| Stocks and contracts in progress | 3 | €10,303 | €6,858 | -€3,444 | -33.4% |
| Stocks | 30/36 | €10,303 | €6,858 | -€3,444 | -33.4% |
| Amounts receivable within one year | 40/41 | €11,033 | €14,397 | +€3,364 | +30.5% |
| Trade receivables | 40 | €6,713 | €5,013 | -€1,700 | -25.3% |
| Other amounts receivable | 41 | €4,320 | €9,384 | +€5,064 | +117% |
| Cash at bank and in hand | 54/58 | €479 | €3,416 | +€2,937 | +613% |
| Deferred charges and accrued income | 490/1 | €3,285 | €5,990 | +€2,705 | +82.4% |
| Total equity and liabilities | 10/49 | €80,444 | €76,787 | -€3,658 | -4.5% |
| Equity | 10/15 | -€18,383 | -€32,342 | -€13,959 | -75.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €41,072 | €41,072 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €39,213 | €39,213 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,048 | -€92,007 | -€13,959 | -17.9% |
| Amounts payable | 17/49 | €98,828 | €109,129 | +€10,302 | +10.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €96,118 | €105,568 | +€9,451 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €159 | €0 | -€159 | -100% |
| Financial debts | 43 | €17,045 | €16,359 | -€687 | -4.0% |
| Credit institutions | 430/8 | €17,045 | €16,359 | -€687 | -4.0% |
| Trade debts | 44 | €64,520 | €78,205 | +€13,684 | +21.2% |
| Suppliers | 440/4 | €64,520 | €76,937 | +€12,417 | +19.2% |
| Bills of exchange payable | 441 | - | €1,267 | +€1,267 | |
| Taxes, remuneration and social security | 45 | €12,666 | €11,005 | -€1,661 | -13.1% |
| Taxes | 450/3 | €1,216 | €2,324 | +€1,108 | +91.1% |
| Remuneration and social security | 454/9 | €11,450 | €8,681 | -€2,769 | -24.2% |
| Other amounts payable | 47/48 | €1,726 | €0 | -€1,726 | -100% |
| Accrued charges and deferred income | 492/3 | €2,710 | €3,561 | +€851 | +31.4% |
| Remuneration, social security and pensions | 62 | €25,506 | €20,364 | -€5,142 | -20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,556 | €8,090 | -€3,466 | -30.0% |
| Other operating charges | 640/8 | €1,516 | €1,639 | +€123 | +8.1% |
| Gross operating margin | 9900 | €28,527 | €21,830 | -€6,698 | -23.5% |
| Operating profit (loss) | 9901 | -€10,050 | -€8,264 | +€1,786 | +17.8% |
| Financial income | 75/76B | €350 | €342 | -€8 | -2.3% |
| Recurring financial income | 75 | €350 | €342 | -€8 | -2.3% |
| Financial charges | 65/66B | €5,228 | €5,841 | +€613 | +11.7% |
| Recurring financial charges | 65 | €5,228 | €5,841 | +€613 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,928 | -€13,762 | +€1,165 | +7.8% |
| Income taxes | 67/77 | €208 | €197 | -€11 | -5.2% |
| Profit (loss) for the period | 9904 | -€15,135 | -€13,959 | +€1,176 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,135 | -€13,959 | +€1,176 | +7.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.