PAULYPIN: 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.
PAULYPIN
Largest movements
- Tangible fixed assets -€26,167
down €26,167 (-32.4%), from €80,806 to €54,638
of which Land and buildings: -€13,692
- Receivables within one year +€9,471
up €9,471 (+195%), from €4,868 to €14,339
of which Trade receivables: +€9,156
- Stocks and contracts +€3,264
up €3,264 (+2.6%), from €125,569 to €128,833
- Cash +€2,861
up €2,861 (+214%), from €1,338 to €4,199
mainly Depreciation (+€26,588) and Net result for the year (+€15,083)
- Debts after one year -€36,693
down €36,693 (-21.7%), from €169,259 to €132,566
of which Financial debts: -€36,693
- Profit (loss) carried forward +€15,083
up €15,083 (+11.8%), from -€127,614 to -€112,530
- Short-term financial debts +€10,771
up €10,771 (+92.2%), from €11,681 to €22,451
- Trade debts -€6,026
down €6,026 (-15.2%), from €39,701 to €33,675
- Other debts -€5,998
down €5,998 (-28.4%), from €21,114 to €15,116
- Gross operating margin +€40,113
up €40,113 (+244%), from €16,463 to €56,576
- Financial charges -€1,466
down €1,466 (-14.3%), from €10,270 to €8,803
- Depreciation -€1,381
down €1,381 (-4.9%), from €27,970 to €26,588
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 | €219,490 | €207,284 | -€12,206 | -5.6% |
| Fixed assets | 21/28 | €82,116 | €55,573 | -€26,543 | -32.3% |
| Intangible fixed assets | 21 | €811 | €435 | -€376 | -46.4% |
| Tangible fixed assets | 22/27 | €80,806 | €54,638 | -€26,167 | -32.4% |
| Land and buildings | 22 | €43,823 | €30,131 | -€13,692 | -31.2% |
| Plant, machinery and equipment | 23 | €13,023 | €9,901 | -€3,123 | -24.0% |
| Leasing and similar rights | 25 | €23,960 | €14,606 | -€9,353 | -39.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €137,374 | €151,711 | +€14,337 | +10.4% |
| Stocks and contracts in progress | 3 | €125,569 | €128,833 | +€3,264 | +2.6% |
| Stocks | 30/36 | €125,569 | €128,833 | +€3,264 | +2.6% |
| Amounts receivable within one year | 40/41 | €4,868 | €14,339 | +€9,471 | +195% |
| Trade receivables | 40 | €4,830 | €13,986 | +€9,156 | +190% |
| Other amounts receivable | 41 | €38 | €353 | +€316 | +835% |
| Cash at bank and in hand | 54/58 | €1,338 | €4,199 | +€2,861 | +214% |
| Deferred charges and accrued income | 490/1 | €5,599 | €4,340 | -€1,259 | -22.5% |
| Total equity and liabilities | 10/49 | €219,490 | €207,284 | -€12,206 | -5.6% |
| Equity | 10/15 | -€62,515 | -€47,432 | +€15,083 | +24.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€127,614 | -€112,530 | +€15,083 | +11.8% |
| Amounts payable | 17/49 | €282,005 | €254,716 | -€27,290 | -9.7% |
| Amounts payable after more than one year | 17 | €169,259 | €132,566 | -€36,693 | -21.7% |
| Financial debts | 170/4 | €84,889 | €48,196 | -€36,693 | -43.2% |
| Other amounts payable | 178/9 | €84,370 | €84,370 | = | 0.0% |
| Amounts payable within one year | 42/48 | €111,324 | €115,345 | +€4,021 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €35,222 | €36,693 | +€1,471 | +4.2% |
| Financial debts | 43 | €11,681 | €22,451 | +€10,771 | +92.2% |
| Credit institutions | 430/8 | €11,681 | €22,451 | +€10,771 | +92.2% |
| Trade debts | 44 | €39,701 | €33,675 | -€6,026 | -15.2% |
| Suppliers | 440/4 | €39,701 | €33,675 | -€6,026 | -15.2% |
| Taxes, remuneration and social security | 45 | €3,607 | €7,410 | +€3,803 | +105% |
| Taxes | 450/3 | €2,607 | €6,410 | +€3,803 | +146% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €21,114 | €15,116 | -€5,998 | -28.4% |
| Accrued charges and deferred income | 492/3 | €1,422 | €6,805 | +€5,383 | +378% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,970 | €26,588 | -€1,381 | -4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,147 | €5,389 | +€242 | +4.7% |
| Non-recurring operating charges | 66A | €289 | €756 | +€467 | +161% |
| Gross operating margin | 9900 | €16,463 | €56,576 | +€40,113 | +244% |
| Operating profit (loss) | 9901 | -€16,943 | €23,842 | +€40,786 | |
| Financial income | 75/76B | €495 | €260 | -€235 | -47.4% |
| Recurring financial income | 75 | €495 | €260 | -€235 | -47.4% |
| Financial charges | 65/66B | €10,270 | €8,803 | -€1,466 | -14.3% |
| Recurring financial charges | 65 | €10,270 | €8,803 | -€1,466 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€26,718 | €15,299 | +€42,017 | |
| Income taxes | 67/77 | €235 | €216 | -€19 | -8.2% |
| Profit (loss) for the period | 9904 | -€26,953 | €15,083 | +€42,036 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,953 | €15,083 | +€42,036 |
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 21 October 2026 via checked.be.