PAUL JOHNSON: 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 JOHNSON
Largest movements
- Cash -€404,212
down €404,212 (-85.6%), from €472,401 to €68,189
mainly Advances received (-€380,311) and Other debts (-€190,186)
- Tangible fixed assets -€26,481
down €26,481 (-4.3%), from €615,943 to €589,462
of which Land and buildings: -€21,551
- Advances received -€380,311
down €380,311 (-69.8%), from €544,500 to €164,189
- Other debts -€190,186
down €190,186 (-95.3%), from €199,665 to €9,479
- Reserves +€166,846
up €166,846 (+41.3%), from €403,987 to €570,833
of which Distributable reserves: +€166,846
- Debts after one year -€39,388
down €39,388 (-9.1%), from €431,040 to €391,652
- Gross operating margin -€368,965
down €368,965 (-55.9%), from €660,013 to €291,048
- Taxes -€95,829
down €95,829 (-48.2%), from €198,880 to €103,051
- Financial income +€48,139
up €48,139 (+96277380.0%), from €0 to €48,139
- Financial charges +€16,149
up €16,149 (+66.2%), from €24,401 to €40,550
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,478,176 | €2,035,979 | -€442,197 | -17.8% |
| Fixed assets | 21/28 | €615,943 | €589,462 | -€26,481 | -4.3% |
| Tangible fixed assets | 22/27 | €615,943 | €589,462 | -€26,481 | -4.3% |
| Land and buildings | 22 | €604,699 | €583,148 | -€21,551 | -3.6% |
| Plant, machinery and equipment | 23 | €1,352 | €373 | -€979 | -72.4% |
| Furniture and vehicles | 24 | €9,892 | €5,941 | -€3,950 | -39.9% |
| Current assets | 29/58 | €1,862,233 | €1,446,517 | -€415,716 | -22.3% |
| Amounts receivable after more than one year | 29 | €283,359 | €271,359 | -€12,000 | -4.2% |
| Other amounts receivable | 291 | €283,359 | €271,359 | -€12,000 | -4.2% |
| Amounts receivable within one year | 40/41 | €1,103,919 | €1,106,969 | +€3,050 | +0.3% |
| Trade receivables | 40 | €462,617 | €135,693 | -€326,924 | -70.7% |
| Other amounts receivable | 41 | €641,302 | €971,276 | +€329,974 | +51.5% |
| Cash at bank and in hand | 54/58 | €472,401 | €68,189 | -€404,212 | -85.6% |
| Deferred charges and accrued income | 490/1 | €2,554 | - | -€2,554 | |
| Total equity and liabilities | 10/49 | €2,478,176 | €2,035,979 | -€442,197 | -17.8% |
| Equity | 10/15 | €885,913 | €1,052,759 | +€166,846 | +18.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €403,987 | €570,833 | +€166,846 | +41.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €402,127 | €568,973 | +€166,846 | +41.5% |
| Profit (loss) carried forward | 14 | €469,526 | €469,526 | = | 0.0% |
| Amounts payable | 17/49 | €1,592,263 | €983,220 | -€609,043 | -38.3% |
| Amounts payable after more than one year | 17 | €431,040 | €391,652 | -€39,388 | -9.1% |
| Financial debts | 170/4 | €431,040 | €391,652 | -€39,388 | -9.1% |
| Amounts payable within one year | 42/48 | €1,161,223 | €591,569 | -€569,655 | -49.1% |
| Current portion of amounts payable after more than one year | 42 | €37,415 | €39,388 | +€1,974 | +5.3% |
| Financial debts | 43 | €7,746 | €4,642 | -€3,104 | -40.1% |
| Credit institutions | 430/8 | €7,746 | €4,642 | -€3,104 | -40.1% |
| Trade debts | 44 | €22,408 | €3,982 | -€18,426 | -82.2% |
| Suppliers | 440/4 | €22,408 | €3,982 | -€18,426 | -82.2% |
| Advances received on contracts in progress | 46 | €544,500 | €164,189 | -€380,311 | -69.8% |
| Taxes, remuneration and social security | 45 | €349,490 | €369,888 | +€20,399 | +5.8% |
| Taxes | 450/3 | €349,490 | €369,888 | +€20,399 | +5.8% |
| Other amounts payable | 47/48 | €199,665 | €9,479 | -€190,186 | -95.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,251 | €26,481 | +€229 | +0.9% |
| Other operating charges | 640/8 | €8,354 | €2,258 | -€6,096 | -73.0% |
| Gross operating margin | 9900 | €660,013 | €291,048 | -€368,965 | -55.9% |
| Operating profit (loss) | 9901 | €625,408 | €262,309 | -€363,099 | -58.1% |
| Financial income | 75/76B | €0 | €48,139 | +€48,139 | +96277380.0% |
| Recurring financial income | 75 | €0 | €48,139 | +€48,139 | +96277380.0% |
| Financial charges | 65/66B | €24,401 | €40,550 | +€16,149 | +66.2% |
| Recurring financial charges | 65 | €24,401 | €40,550 | +€16,149 | +66.2% |
| Profit (loss) for the period before taxes | 9903 | €601,007 | €269,898 | -€331,109 | -55.1% |
| Income taxes | 67/77 | €198,880 | €103,051 | -€95,829 | -48.2% |
| Profit (loss) for the period | 9904 | €402,127 | €166,846 | -€235,280 | -58.5% |
| Profit (loss) for the period to be appropriated | 9905 | €402,127 | €166,846 | -€235,280 | -58.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.