PAULI PROJECT: what changed
Two fiscal 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.
PAULI PROJECT
Largest movements
- Cash +€79,668
up €79,668 (+6629.9%), from €1,202 to €80,870
mainly Net result for the year (+€60,959) and Tax, wage and social debts (+€27,922)
- Receivables within one year -€8,299
down €8,299 (-37.0%), from €22,456 to €14,157
of which Trade receivables: -€8,022
- Reserves +€50,399
up €50,399 (+164.4%), from €30,660 to €81,059
- Tax, wage and social debts +€27,922
new in 2025: €27,922
- Other debts -€18,100
down €18,100 (-22.8%), from €79,290 to €61,190
- Profit (loss) carried forward +€10,561
no longer reported in 2025 (was -€10,561)
- Gross operating margin +€77,106
up €77,106 (+5221.8%), from €1,477 to €78,582
- Taxes +€16,816
new in 2025: €16,816
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 | €102,219 | €173,589 | +€71,369 | +69.8% |
| Fixed assets | 21/28 | €78,562 | €78,562 | = | 0.0% |
| Tangible fixed assets | 22/27 | €78,562 | €78,562 | = | 0.0% |
| Land and buildings | 22 | €78,562 | €78,562 | = | 0.0% |
| Current assets | 29/58 | €23,657 | €95,027 | +€71,369 | +301.7% |
| Amounts receivable within one year | 40/41 | €22,456 | €14,157 | -€8,299 | -37.0% |
| Trade receivables | 40 | €22,179 | €14,157 | -€8,022 | -36.2% |
| Other amounts receivable | 41 | €276 | - | -€276 | |
| Cash at bank and in hand | 54/58 | €1,202 | €80,870 | +€79,668 | +6629.9% |
| Total equity and liabilities | 10/49 | €102,219 | €173,589 | +€71,369 | +69.8% |
| Equity | 10/15 | €22,929 | €83,888 | +€60,959 | +265.9% |
| Contributions | 10/11 | €2,829 | €2,829 | = | 0.0% |
| Reserves | 13 | €30,660 | €81,059 | +€50,399 | +164.4% |
| Distributable reserves | 133 | €30,660 | €81,059 | +€50,399 | +164.4% |
| Profit (loss) carried forward | 14 | -€10,561 | - | +€10,561 | |
| Amounts payable | 17/49 | €79,290 | €89,700 | +€10,410 | +13.1% |
| Amounts payable within one year | 42/48 | €79,290 | €89,700 | +€10,410 | +13.1% |
| Trade debts | 44 | - | €588 | +€588 | |
| Suppliers | 440/4 | - | €588 | +€588 | |
| Taxes, remuneration and social security | 45 | - | €27,922 | +€27,922 | |
| Taxes | 450/3 | - | €27,922 | +€27,922 | |
| Other amounts payable | 47/48 | €79,290 | €61,190 | -€18,100 | -22.8% |
| Other operating charges | 640/8 | €606 | €576 | -€30 | -4.9% |
| Gross operating margin | 9900 | €1,477 | €78,582 | +€77,106 | +5221.8% |
| Operating profit (loss) | 9901 | €871 | €78,006 | +€77,135 | +8856.3% |
| Financial charges | 65/66B | - | €231 | +€231 | |
| Recurring financial charges | 65 | - | €231 | +€231 | |
| Profit (loss) for the period before taxes | 9903 | €871 | €77,776 | +€76,905 | +8829.8% |
| Income taxes | 67/77 | - | €16,816 | +€16,816 | |
| Profit (loss) for the period | 9904 | €871 | €60,959 | +€60,088 | +6899.0% |
| Profit (loss) for the period to be appropriated | 9905 | €871 | €60,959 | +€60,088 | +6899.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.