PAULETTE: 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.
PAULETTE
Largest movements
- Stocks and contracts -€9,084
down €9,084 (-78.4%), from €11,584 to €2,500
- Receivables within one year +€8,709
up €8,709 (+26.8%), from €32,543 to €41,252
of which Trade receivables: +€10,362
- Cash -€3,289
down €3,289 (-26.2%), from €12,531 to €9,242
mainly Receivables within one year (-€8,709) and Trade debts (-€7,671)
- Tangible fixed assets -€1,664
down €1,664 (-80.7%), from €2,062 to €398
- Trade debts -€7,671
down €7,671 (-80.5%), from €9,527 to €1,856
- Profit (loss) carried forward +€7,510
up €7,510 (+526%), from €1,428 to €8,938
- Other debts -€4,956
down €4,956 (-97.6%), from €5,078 to €122
- Staff costs +€3,599
up €3,599 (+6.4%), from €56,371 to €59,970
- Depreciation -€2,845
down €2,845 (-63.1%), from €4,510 to €1,664
- Gross operating margin -€1,023
down €1,023 (-1.4%), from €74,392 to €73,370
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 | €59,671 | €54,918 | -€4,752 | -8.0% |
| Fixed assets | 21/28 | €2,062 | €398 | -€1,664 | -80.7% |
| Tangible fixed assets | 22/27 | €2,062 | €398 | -€1,664 | -80.7% |
| Plant, machinery and equipment | 23 | €2,062 | €398 | -€1,664 | -80.7% |
| Current assets | 29/58 | €57,608 | €54,520 | -€3,088 | -5.4% |
| Stocks and contracts in progress | 3 | €11,584 | €2,500 | -€9,084 | -78.4% |
| Stocks | 30/36 | €11,584 | €2,500 | -€9,084 | -78.4% |
| Amounts receivable within one year | 40/41 | €32,543 | €41,252 | +€8,709 | +26.8% |
| Trade receivables | 40 | €25,927 | €36,289 | +€10,362 | +40.0% |
| Other amounts receivable | 41 | €6,615 | €4,963 | -€1,652 | -25.0% |
| Cash at bank and in hand | 54/58 | €12,531 | €9,242 | -€3,289 | -26.2% |
| Deferred charges and accrued income | 490/1 | €951 | €1,526 | +€575 | +60.5% |
| Total equity and liabilities | 10/49 | €59,671 | €54,918 | -€4,752 | -8.0% |
| Equity | 10/15 | €36,828 | €44,338 | +€7,510 | +20.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €23,000 | €23,000 | = | 0.0% |
| Distributable reserves | 133 | €23,000 | €23,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,428 | €8,938 | +€7,510 | +526% |
| Amounts payable | 17/49 | €22,843 | €10,580 | -€12,263 | -53.7% |
| Amounts payable within one year | 42/48 | €22,843 | €10,580 | -€12,263 | -53.7% |
| Trade debts | 44 | €9,527 | €1,856 | -€7,671 | -80.5% |
| Suppliers | 440/4 | €9,527 | €1,856 | -€7,671 | -80.5% |
| Taxes, remuneration and social security | 45 | €8,238 | €8,602 | +€364 | +4.4% |
| Taxes | 450/3 | €300 | €2,981 | +€2,681 | +894% |
| Remuneration and social security | 454/9 | €7,938 | €5,622 | -€2,316 | -29.2% |
| Other amounts payable | 47/48 | €5,078 | €122 | -€4,956 | -97.6% |
| Remuneration, social security and pensions | 62 | €56,371 | €59,970 | +€3,599 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,510 | €1,664 | -€2,845 | -63.1% |
| Other operating charges | 640/8 | €1,490 | €1,114 | -€376 | -25.2% |
| Gross operating margin | 9900 | €74,392 | €73,370 | -€1,023 | -1.4% |
| Operating profit (loss) | 9901 | €12,022 | €10,622 | -€1,400 | -11.6% |
| Financial income | 75/76B | €115 | €255 | +€140 | +122% |
| Recurring financial income | 75 | €115 | €255 | +€140 | +122% |
| Financial charges | 65/66B | €113 | €504 | +€391 | +347% |
| Recurring financial charges | 65 | €113 | €504 | +€391 | +347% |
| Profit (loss) for the period before taxes | 9903 | €12,025 | €10,373 | -€1,651 | -13.7% |
| Income taxes | 67/77 | €3,300 | €2,863 | -€437 | -13.2% |
| Profit (loss) for the period | 9904 | €8,725 | €7,510 | -€1,214 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,725 | €7,510 | -€1,214 | -13.9% |
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 15 October 2026 via checked.be.