PAUL & LION: 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 & LION
Largest movements
- Cash -€20,671
down €20,671 (-47.8%), from €43,279 to €22,608
mainly Deferred charges and accrued income (-€13,315) and Receivables within one year (-€3,654)
- Deferred charges and accrued income +€13,315
up €13,315 (+149%), from €8,915 to €22,230
- Receivables within one year +€3,654
up €3,654, from €0 to €3,654
of which Other amounts receivable: +€3,654
- Tangible fixed assets -€1,084
down €1,084 (-15.5%), from €6,977 to €5,894
- Tax, wage and social debts -€2,772
down €2,772 (-39.5%), from €7,014 to €4,241
- Short-term financial debts -€1,634
down €1,634 (-93.7%), from €1,743 to €109
- Other debts -€1,068
down €1,068 (-55.2%), from €1,935 to €867
- Profit (loss) carried forward +€984
up €984 (+3.0%), from €32,652 to €33,636
- Gross operating margin -€36,198
down €36,198 (-78.6%), from €46,039 to €9,840
- Taxes -€8,114
down €8,114 (-84.9%), from €9,563 to €1,449
- Financial charges +€2,808
up €2,808 (+264%), from €1,063 to €3,871
- Depreciation -€928
down €928 (-40.0%), from €2,319 to €1,392
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 | €59,171 | €54,385 | -€4,786 | -8.1% |
| Fixed assets | 21/28 | €6,977 | €5,894 | -€1,084 | -15.5% |
| Tangible fixed assets | 22/27 | €6,977 | €5,894 | -€1,084 | -15.5% |
| Furniture and vehicles | 24 | €6,977 | €5,894 | -€1,084 | -15.5% |
| Current assets | 29/58 | €52,194 | €48,492 | -€3,702 | -7.1% |
| Amounts receivable within one year | 40/41 | €0 | €3,654 | +€3,654 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €3,654 | +€3,654 | |
| Cash at bank and in hand | 54/58 | €43,279 | €22,608 | -€20,671 | -47.8% |
| Deferred charges and accrued income | 490/1 | €8,915 | €22,230 | +€13,315 | +149% |
| Total equity and liabilities | 10/49 | €59,171 | €54,385 | -€4,786 | -8.1% |
| Equity | 10/15 | €47,710 | €48,694 | +€984 | +2.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €8,859 | €8,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €759 | €759 | = | 0.0% |
| Distributable reserves | 133 | €8,099 | €8,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,652 | €33,636 | +€984 | +3.0% |
| Amounts payable | 17/49 | €11,461 | €5,691 | -€5,770 | -50.3% |
| Amounts payable within one year | 42/48 | €11,461 | €5,691 | -€5,770 | -50.3% |
| Financial debts | 43 | €1,743 | €109 | -€1,634 | -93.7% |
| Credit institutions | 430/8 | €1,743 | €109 | -€1,634 | -93.7% |
| Trade debts | 44 | €769 | €474 | -€295 | -38.4% |
| Suppliers | 440/4 | €769 | €474 | -€295 | -38.4% |
| Taxes, remuneration and social security | 45 | €7,014 | €4,241 | -€2,772 | -39.5% |
| Taxes | 450/3 | €7,014 | €4,241 | -€2,772 | -39.5% |
| Other amounts payable | 47/48 | €1,935 | €867 | -€1,068 | -55.2% |
| Non-recurring operating income | 76A | €11,698 | €0 | -€11,698 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,319 | €1,392 | -€928 | -40.0% |
| Other operating charges | 640/8 | €442 | €444 | +€2 | +0.4% |
| Non-recurring operating charges | 66A | - | €1,701 | +€1,701 | |
| Gross operating margin | 9900 | €46,039 | €9,840 | -€36,198 | -78.6% |
| Operating profit (loss) | 9901 | €43,277 | €6,304 | -€36,974 | -85.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -84.8% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -84.8% |
| Financial charges | 65/66B | €1,063 | €3,871 | +€2,808 | +264% |
| Recurring financial charges | 65 | €1,063 | €3,871 | +€2,808 | +264% |
| Profit (loss) for the period before taxes | 9903 | €42,215 | €2,433 | -€39,782 | -94.2% |
| Income taxes | 67/77 | €9,563 | €1,449 | -€8,114 | -84.9% |
| Profit (loss) for the period | 9904 | €32,652 | €984 | -€31,668 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,652 | €984 | -€31,668 | -97.0% |
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 22 October 2026 via checked.be.