PAULSSON: 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.
PAULSSON
Largest movements
- Cash +€60,940
up €60,940 (+66.3%), from €91,958 to €152,899
mainly Net result for the year (+€256,705) and Other debts (+€135,409)
- Tangible fixed assets -€35,263
down €35,263 (-24.4%), from €144,586 to €109,322
of which Leasing and similar rights: -€29,501
- Debts after one year -€139,273
down €139,273 (-16.2%), from €861,558 to €722,286
of which Financial debts: -€139,273
- Other debts +€135,409
up €135,409 (+61.9%), from €218,911 to €354,320
- Reserves +€57,386
up €57,386 (+4.0%), from €1.4m to €1.5m
- Gross operating margin -€26,143
down €26,143 (-18.7%), from €139,526 to €113,383
- Taxes -€3,978
down €3,978 (-10.0%), from €39,910 to €35,932
- Depreciation +€2,423
up €2,423 (+7.6%), from €31,871 to €34,295
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 | €2,734,378 | €2,778,193 | +€43,814 | +1.6% |
| Fixed assets | 21/28 | €2,610,190 | €2,574,927 | -€35,263 | -1.4% |
| Tangible fixed assets | 22/27 | €144,586 | €109,322 | -€35,263 | -24.4% |
| Furniture and vehicles | 24 | €4,794 | €3,592 | -€1,202 | -25.1% |
| Leasing and similar rights | 25 | €112,139 | €82,638 | -€29,501 | -26.3% |
| Other tangible fixed assets | 26 | €27,653 | €23,093 | -€4,561 | -16.5% |
| Financial fixed assets | 28 | €2,465,604 | €2,465,604 | = | 0.0% |
| Current assets | 29/58 | €124,189 | €203,266 | +€79,078 | +63.7% |
| Amounts receivable within one year | 40/41 | €30,000 | €48,041 | +€18,041 | +60.1% |
| Trade receivables | 40 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 41 | - | €18,041 | +€18,041 | |
| Cash at bank and in hand | 54/58 | €91,958 | €152,899 | +€60,940 | +66.3% |
| Deferred charges and accrued income | 490/1 | €2,230 | €2,326 | +€96 | +4.3% |
| Total equity and liabilities | 10/49 | €2,734,378 | €2,778,193 | +€43,814 | +1.6% |
| Equity | 10/15 | €1,450,089 | €1,507,475 | +€57,386 | +4.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,425,089 | €1,482,475 | +€57,386 | +4.0% |
| Distributable reserves | 133 | €1,425,089 | €1,482,475 | +€57,386 | +4.0% |
| Amounts payable | 17/49 | €1,284,290 | €1,270,718 | -€13,572 | -1.1% |
| Amounts payable after more than one year | 17 | €861,558 | €722,286 | -€139,273 | -16.2% |
| Financial debts | 170/4 | €641,558 | €502,286 | -€139,273 | -21.7% |
| Other amounts payable | 178/9 | €220,000 | €220,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €419,877 | €545,651 | +€125,775 | +30.0% |
| Current portion of amounts payable after more than one year | 42 | €161,212 | €148,948 | -€12,264 | -7.6% |
| Financial debts | 43 | €3,420 | €3,378 | -€42 | -1.2% |
| Credit institutions | 430/8 | €3,420 | €3,378 | -€42 | -1.2% |
| Trade debts | 44 | €1,278 | €1,615 | +€336 | +26.3% |
| Suppliers | 440/4 | €1,278 | €1,615 | +€336 | +26.3% |
| Taxes, remuneration and social security | 45 | €35,055 | €37,391 | +€2,335 | +6.7% |
| Taxes | 450/3 | €35,055 | €37,391 | +€2,335 | +6.7% |
| Other amounts payable | 47/48 | €218,911 | €354,320 | +€135,409 | +61.9% |
| Accrued charges and deferred income | 492/3 | €2,855 | €2,781 | -€74 | -2.6% |
| Non-recurring operating income | 76A | €23,870 | - | -€23,870 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,871 | €34,295 | +€2,423 | +7.6% |
| Other operating charges | 640/8 | €6,043 | €6,341 | +€298 | +4.9% |
| Non-recurring operating charges | 66A | - | €969 | +€969 | |
| Gross operating margin | 9900 | €139,526 | €113,383 | -€26,143 | -18.7% |
| Operating profit (loss) | 9901 | €101,612 | €71,779 | -€29,833 | -29.4% |
| Financial income | 75/76B | €255,038 | €255,260 | +€222 | +0.1% |
| Recurring financial income | 75 | €255,038 | €255,260 | +€222 | +0.1% |
| Financial charges | 65/66B | €35,051 | €34,402 | -€648 | -1.8% |
| Recurring financial charges | 65 | €35,051 | €34,402 | -€648 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €321,600 | €292,638 | -€28,962 | -9.0% |
| Income taxes | 67/77 | €39,910 | €35,932 | -€3,978 | -10.0% |
| Profit (loss) for the period | 9904 | €281,689 | €256,705 | -€24,984 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €281,689 | €256,705 | -€24,984 | -8.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.