Paulussen & Andries: 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.
Paulussen & Andries
Largest movements
- Current investments +€275,229
new in 2025: €275,229
- Intangible fixed assets -€239,056
down €239,056 (-10.8%), from €2.2m to €2.0m
- Cash -€153,738
down €153,738 (-65.5%), from €234,813 to €81,075
mainly Current investments (-€275,229) and Debts after one year (-€196,769)
- Deferred charges and accrued income +€118,652
up €118,652 (+1,197%), from €9,910 to €128,563
- Tangible fixed assets -€55,787
down €55,787 (-94.1%), from €59,290 to €3,503
- Reserves +€201,207
new in 2025: €201,207
- Debts after one year -€196,769
down €196,769 (-9.7%), from €2.0m to €1.8m
- Tax, wage and social debts +€94,927
up €94,927 (+206%), from €46,176 to €141,103
of which Taxes: +€85,598
- Trade debts -€80,504
down €80,504 (-82.0%), from €98,200 to €17,695
- Other debts -€56,020
down €56,020 (-100%), from €56,020 to €0
- Gross operating margin +€435,739
up €435,739 (+79.2%), from €549,930 to €985,669
- Staff costs +€116,928
up €116,928 (+45.4%), from €257,569 to €374,497
- Depreciation +€71,438
up €71,438 (+42.1%), from €169,628 to €241,066
- Taxes +€58,007
up €58,007 (+315%), from €18,400 to €76,407
- Financial charges +€26,770
up €26,770 (+45.7%), from €58,569 to €85,339
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 | €2,524,733 | €2,473,684 | -€51,049 | -2.0% |
| Fixed assets | 21/28 | €2,266,887 | €1,972,043 | -€294,843 | -13.0% |
| Intangible fixed assets | 21 | €2,207,597 | €1,968,541 | -€239,056 | -10.8% |
| Tangible fixed assets | 22/27 | €59,290 | €3,503 | -€55,787 | -94.1% |
| Furniture and vehicles | 24 | €59,290 | €3,503 | -€55,787 | -94.1% |
| Current assets | 29/58 | €257,846 | €501,641 | +€243,795 | +94.6% |
| Amounts receivable within one year | 40/41 | €13,123 | €16,774 | +€3,650 | +27.8% |
| Trade receivables | 40 | - | €3,650 | +€3,650 | |
| Other amounts receivable | 41 | €13,123 | €13,123 | = | 0.0% |
| Current investments | 50/53 | - | €275,229 | +€275,229 | |
| Cash at bank and in hand | 54/58 | €234,813 | €81,075 | -€153,738 | -65.5% |
| Deferred charges and accrued income | 490/1 | €9,910 | €128,563 | +€118,652 | +1,197% |
| Total equity and liabilities | 10/49 | €2,524,733 | €2,473,684 | -€51,049 | -2.0% |
| Equity | 10/15 | €100,000 | €301,207 | +€201,207 | +201% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | - | €201,207 | +€201,207 | |
| Distributable reserves | 133 | - | €201,207 | +€201,207 | |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,424,733 | €2,172,477 | -€252,255 | -10.4% |
| Amounts payable after more than one year | 17 | €2,030,704 | €1,833,936 | -€196,769 | -9.7% |
| Financial debts | 170/4 | €2,030,704 | €1,833,936 | -€196,769 | -9.7% |
| Amounts payable within one year | 42/48 | €382,938 | €326,541 | -€56,396 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €182,542 | €167,743 | -€14,799 | -8.1% |
| Trade debts | 44 | €98,200 | €17,695 | -€80,504 | -82.0% |
| Suppliers | 440/4 | €98,200 | €17,695 | -€80,504 | -82.0% |
| Taxes, remuneration and social security | 45 | €46,176 | €141,103 | +€94,927 | +206% |
| Taxes | 450/3 | €18,400 | €103,998 | +€85,598 | +465% |
| Remuneration and social security | 454/9 | €27,776 | €37,105 | +€9,329 | +33.6% |
| Other amounts payable | 47/48 | €56,020 | €0 | -€56,020 | -100% |
| Accrued charges and deferred income | 492/3 | €11,090 | €12,000 | +€910 | +8.2% |
| Remuneration, social security and pensions | 62 | €257,569 | €374,497 | +€116,928 | +45.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,628 | €241,066 | +€71,438 | +42.1% |
| Other operating charges | 640/8 | €387 | €9,496 | +€9,108 | +2,351% |
| Gross operating margin | 9900 | €549,930 | €985,669 | +€435,739 | +79.2% |
| Operating profit (loss) | 9901 | €122,346 | €360,610 | +€238,264 | +195% |
| Financial income | 75/76B | €497 | €2,343 | +€1,846 | +372% |
| Recurring financial income | 75 | €497 | €2,343 | +€1,846 | +372% |
| Financial charges | 65/66B | €58,569 | €85,339 | +€26,770 | +45.7% |
| Recurring financial charges | 65 | €58,569 | €85,339 | +€26,770 | +45.7% |
| Profit (loss) for the period before taxes | 9903 | €64,274 | €277,614 | +€213,340 | +332% |
| Income taxes | 67/77 | €18,400 | €76,407 | +€58,007 | +315% |
| Profit (loss) for the period | 9904 | €45,874 | €201,207 | +€155,333 | +339% |
| Profit (loss) for the period to be appropriated | 9905 | €45,874 | €201,207 | +€155,333 | +339% |
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 30 October 2026 via checked.be.