Pierre Papier Ciseaux: 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.
Pierre Papier Ciseaux
Largest movements
- Cash -€17,992
down €17,992 (-57.2%), from €31,437 to €13,445
mainly Net result for the year (-€38,964) and Investment in fixed assets (net) (-€5,156)
- Tangible fixed assets -€4,365
down €4,365 (-19.2%), from €22,683 to €18,318
of which Other tangible fixed assets: -€2,439
- Intangible fixed assets +€3,933
new in 2025: €3,933
- Deferred charges and accrued income -€2,413
down €2,413 (-56.0%), from €4,309 to €1,896
- Receivables within one year +€1,959
up €1,959 (+40.1%), from €4,889 to €6,848
of which Trade receivables: +€3,328
- Profit (loss) carried forward -€38,964
down €38,964, from €26,680 to -€12,284
- Tax, wage and social debts +€17,591
up €17,591 (+202%), from €8,692 to €26,284
of which Remuneration and social security: +€15,619
- Trade debts +€1,780
up €1,780 (+25.8%), from €6,900 to €8,680
- Other debts +€715
up €715 (+8.0%), from €8,976 to €9,690
- Staff costs +€40,586
up €40,586 (+36.6%), from €111,002 to €151,588
- Gross operating margin +€3,793
up €3,793 (+3.3%), from €115,215 to €119,008
- Write-downs -€3,300
no longer reported in 2025 (was €3,300)
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 | €63,348 | €44,470 | -€18,878 | -29.8% |
| Fixed assets | 21/28 | €22,713 | €22,281 | -€432 | -1.9% |
| Intangible fixed assets | 21 | - | €3,933 | +€3,933 | |
| Tangible fixed assets | 22/27 | €22,683 | €18,318 | -€4,365 | -19.2% |
| Furniture and vehicles | 24 | €5,627 | €3,701 | -€1,926 | -34.2% |
| Other tangible fixed assets | 26 | €17,056 | €14,617 | -€2,439 | -14.3% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €40,635 | €22,189 | -€18,446 | -45.4% |
| Amounts receivable within one year | 40/41 | €4,889 | €6,848 | +€1,959 | +40.1% |
| Trade receivables | 40 | €2,043 | €5,371 | +€3,328 | +163% |
| Other amounts receivable | 41 | €2,846 | €1,477 | -€1,370 | -48.1% |
| Cash at bank and in hand | 54/58 | €31,437 | €13,445 | -€17,992 | -57.2% |
| Deferred charges and accrued income | 490/1 | €4,309 | €1,896 | -€2,413 | -56.0% |
| Total equity and liabilities | 10/49 | €63,348 | €44,470 | -€18,878 | -29.8% |
| Equity | 10/15 | €38,780 | -€184 | -€38,964 | |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,680 | -€12,284 | -€38,964 | |
| Amounts payable | 17/49 | €24,568 | €44,654 | +€20,086 | +81.8% |
| Amounts payable within one year | 42/48 | €24,568 | €44,654 | +€20,086 | +81.8% |
| Trade debts | 44 | €6,900 | €8,680 | +€1,780 | +25.8% |
| Suppliers | 440/4 | €6,900 | €8,680 | +€1,780 | +25.8% |
| Taxes, remuneration and social security | 45 | €8,692 | €26,284 | +€17,591 | +202% |
| Taxes | 450/3 | €8,692 | €10,665 | +€1,973 | +22.7% |
| Remuneration and social security | 454/9 | - | €15,619 | +€15,619 | |
| Other amounts payable | 47/48 | €8,976 | €9,690 | +€715 | +8.0% |
| Remuneration, social security and pensions | 62 | €111,002 | €151,588 | +€40,586 | +36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,967 | €5,589 | +€622 | +12.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,300 | - | -€3,300 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €115,215 | €119,008 | +€3,793 | +3.3% |
| Operating profit (loss) | 9901 | -€4,441 | -€38,568 | -€34,127 | -768% |
| Financial income | 75/76B | €81 | €150 | +€69 | +86.0% |
| Recurring financial income | 75 | €81 | €150 | +€69 | +86.0% |
| Financial charges | 65/66B | €623 | €546 | -€76 | -12.2% |
| Recurring financial charges | 65 | €623 | €546 | -€76 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,983 | -€38,964 | -€33,981 | -682% |
| Income taxes | 67/77 | €24 | - | -€24 | |
| Profit (loss) for the period | 9904 | -€5,007 | -€38,964 | -€33,958 | -678% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,007 | -€38,964 | -€33,958 | -678% |
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 24 October 2026 via checked.be.