PAUWELS ERIC: 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.
PAUWELS ERIC
Largest movements
- Tangible fixed assets -€16,876
down €16,876 (-32.5%), from €51,871 to €34,995
- Receivables within one year -€7,759
down €7,759 (-12.7%), from €61,185 to €53,426
of which Trade receivables: -€5,359
- Profit (loss) carried forward -€24,798
down €24,798 (-134%), from -€18,544 to -€43,342
- Gross operating margin -€5,882
down €5,882, from €3,695 to -€2,187
- Taxes -€2,246
no longer reported in 2025 (was €2,246)
- Other operating charges +€836
up €836 (+19.7%), from €4,234 to €5,070
- Financial charges +€542
up €542 (+441%), from €123 to €665
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 | €568,886 | €545,102 | -€23,784 | -4.2% |
| Fixed assets | 21/28 | €51,871 | €34,995 | -€16,876 | -32.5% |
| Tangible fixed assets | 22/27 | €51,871 | €34,995 | -€16,876 | -32.5% |
| Land and buildings | 22 | €51,871 | €34,995 | -€16,876 | -32.5% |
| Current assets | 29/58 | €517,015 | €510,107 | -€6,908 | -1.3% |
| Amounts receivable within one year | 40/41 | €61,185 | €53,426 | -€7,759 | -12.7% |
| Trade receivables | 40 | €6,714 | €1,355 | -€5,359 | -79.8% |
| Other amounts receivable | 41 | €54,471 | €52,071 | -€2,400 | -4.4% |
| Cash at bank and in hand | 54/58 | €455,830 | €456,681 | +€851 | +0.2% |
| Total equity and liabilities | 10/49 | €568,886 | €545,102 | -€23,784 | -4.2% |
| Equity | 10/15 | €567,672 | €542,874 | -€24,798 | -4.4% |
| Reserves | 13 | €586,216 | €586,216 | = | 0.0% |
| Distributable reserves | 133 | €586,216 | €586,216 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,544 | -€43,342 | -€24,798 | -134% |
| Amounts payable | 17/49 | €1,214 | €2,228 | +€1,014 | +83.5% |
| Amounts payable within one year | 42/48 | €1,214 | €2,228 | +€1,014 | +83.5% |
| Trade debts | 44 | €1,214 | €2,228 | +€1,014 | +83.5% |
| Suppliers | 440/4 | €1,214 | €2,228 | +€1,014 | +83.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,876 | €16,876 | = | 0.0% |
| Other operating charges | 640/8 | €4,234 | €5,070 | +€836 | +19.7% |
| Gross operating margin | 9900 | €3,695 | -€2,187 | -€5,882 | |
| Operating profit (loss) | 9901 | -€17,415 | -€24,133 | -€6,718 | -38.6% |
| Financial charges | 65/66B | €123 | €665 | +€542 | +441% |
| Recurring financial charges | 65 | €123 | €665 | +€542 | +441% |
| Profit (loss) for the period before taxes | 9903 | -€17,538 | -€24,798 | -€7,260 | -41.4% |
| Income taxes | 67/77 | €2,246 | - | -€2,246 | |
| Profit (loss) for the period | 9904 | -€19,784 | -€24,798 | -€5,014 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,784 | -€24,798 | -€5,014 | -25.3% |
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 18 October 2026 via checked.be.