PAULANCO: 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.
PAULANCO
Largest movements
- Cash +€769,005
up €769,005 (+89.0%), from €863,810 to €1.6m
mainly Current investments (+€354,817) and Net result for the year (+€332,560)
- Current investments -€354,817
down €354,817 (-35.5%), from €1.0m to €645,233
- Tangible fixed assets -€66,332
down €66,332 (-40.7%), from €162,922 to €96,590
of which Plant, machinery and equipment: -€66,962
- Receivables within one year -€26,377
down €26,377 (-34.9%), from €75,641 to €49,264
of which Other amounts receivable: -€49,352
- Reserves +€332,560
up €332,560 (+20.6%), from €1.6m to €1.9m
of which Distributable reserves: +€341,560
- Gross operating margin -€816,988
down €816,988 (-58.2%), from €1.4m to €587,286
- Taxes +€118,381
up €118,381 (+66663.3%), from €178 to €118,558
- Staff costs -€44,948
down €44,948 (-45.0%), from €99,816 to €54,868
- Financial income +€16,590
up €16,590 (+226.9%), from €7,310 to €23,901
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.
Cash bridge derived
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 | €2,118,080 | €2,445,949 | +€327,869 | +15.5% |
| Fixed assets | 21/28 | €163,026 | €96,694 | -€66,332 | -40.7% |
| Tangible fixed assets | 22/27 | €162,922 | €96,590 | -€66,332 | -40.7% |
| Land and buildings | 22 | €81,561 | €83,854 | +€2,293 | +2.8% |
| Plant, machinery and equipment | 23 | €79,699 | €12,736 | -€66,962 | -84.0% |
| Furniture and vehicles | 24 | €1,662 | €0 | -€1,662 | -100.0% |
| Financial fixed assets | 28 | €104 | €104 | = | 0.0% |
| Current assets | 29/58 | €1,955,054 | €2,349,255 | +€394,201 | +20.2% |
| Amounts receivable after more than one year | 29 | €1,850 | €9,250 | +€7,400 | +400.0% |
| Other amounts receivable | 291 | €1,850 | €9,250 | +€7,400 | +400.0% |
| Amounts receivable within one year | 40/41 | €75,641 | €49,264 | -€26,377 | -34.9% |
| Trade receivables | 40 | €22,674 | €45,649 | +€22,975 | +101.3% |
| Other amounts receivable | 41 | €52,967 | €3,615 | -€49,352 | -93.2% |
| Current investments | 50/53 | €1,000,050 | €645,233 | -€354,817 | -35.5% |
| Cash at bank and in hand | 54/58 | €863,810 | €1,632,815 | +€769,005 | +89.0% |
| Deferred charges and accrued income | 490/1 | €13,703 | €12,693 | -€1,010 | -7.4% |
| Total equity and liabilities | 10/49 | €2,118,080 | €2,445,949 | +€327,869 | +15.5% |
| Equity | 10/15 | €1,666,542 | €1,999,101 | +€332,560 | +20.0% |
| Contributions | 10/11 | €50,550 | €50,550 | = | 0.0% |
| Reserves | 13 | €1,615,992 | €1,948,551 | +€332,560 | +20.6% |
| Non-distributable reserves | 130/1 | €9,000 | €0 | -€9,000 | -100.0% |
| Reserves not available under the articles | 1311 | €9,000 | €0 | -€9,000 | -100.0% |
| Tax-exempt reserves | 132 | €970,170 | €970,170 | = | 0.0% |
| Distributable reserves | 133 | €636,822 | €978,382 | +€341,560 | +53.6% |
| Provisions and deferred taxes | 16 | €323,390 | €323,390 | = | 0.0% |
| Deferred taxes | 168 | €323,390 | €323,390 | = | 0.0% |
| Amounts payable | 17/49 | €128,148 | €123,458 | -€4,691 | -3.7% |
| Amounts payable within one year | 42/48 | €128,148 | €123,458 | -€4,691 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €33,249 | €32,513 | -€737 | -2.2% |
| Suppliers | 440/4 | €33,249 | €32,513 | -€737 | -2.2% |
| Advances received on contracts in progress | 46 | - | €2,563 | +€2,563 | |
| Taxes, remuneration and social security | 45 | €26,438 | €30,247 | +€3,809 | +14.4% |
| Taxes | 450/3 | €20,847 | €21,202 | +€354 | +1.7% |
| Remuneration and social security | 454/9 | €5,591 | €9,045 | +€3,454 | +61.8% |
| Other amounts payable | 47/48 | €18,460 | €8,135 | -€10,326 | -55.9% |
| Non-recurring operating income | 76A | - | €3,847 | +€3,847 | |
| Remuneration, social security and pensions | 62 | €99,816 | €54,868 | -€44,948 | -45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,935 | €86,245 | +€2,310 | +2.8% |
| Other operating charges | 640/8 | €22,486 | €16,548 | -€5,938 | -26.4% |
| Gross operating margin | 9900 | €1,404,273 | €587,286 | -€816,988 | -58.2% |
| Operating profit (loss) | 9901 | €1,198,036 | €429,624 | -€768,412 | -64.1% |
| Financial income | 75/76B | €7,310 | €23,901 | +€16,590 | +226.9% |
| Recurring financial income | 75 | €7,310 | €23,901 | +€16,590 | +226.9% |
| Financial charges | 65/66B | €4,456 | €2,407 | -€2,050 | -46.0% |
| Recurring financial charges | 65 | €4,456 | €2,407 | -€2,050 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €1,200,890 | €451,118 | -€749,772 | -62.4% |
| Transfer to deferred taxes | 680 | €323,390 | €0 | -€323,390 | -100.0% |
| Income taxes | 67/77 | €178 | €118,558 | +€118,381 | +66663.3% |
| Profit (loss) for the period | 9904 | €877,323 | €332,560 | -€544,763 | -62.1% |
| Transfer to tax-exempt reserves | 689 | €970,170 | €0 | -€970,170 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€92,847 | €332,560 | +€425,407 |
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 9 October 2026 via checked.be.