PRINTS & PAPERS: what changed
PRINTS & PAPERS
Largest movements
- Tangible fixed assets -€5,377
down €5,377 (-62.4%), from €8,621 to €3,244
of which Plant, machinery and equipment: -€3,795
- Financial fixed assets +€4,500
up €4,500 (+24,207%), from €19 to €4,519
- Receivables within one year +€2,184
up €2,184 (+56.4%), from €3,876 to €6,060
of which Other amounts receivable: +€4,356
- Other debts +€19,429
up €19,429 (+10.4%), from €186,096 to €205,525
- Profit (loss) carried forward -€12,206
down €12,206 (-5.4%), from -€225,406 to -€237,612
- Trade debts -€4,448
down €4,448 (-26.9%), from €16,547 to €12,099
- Tax, wage and social debts -€2,759
down €2,759 (-84.0%), from €3,287 to €527
- Short-term financial debts +€2,341
up €2,341 (+23.1%), from €10,138 to €12,479
- Gross operating margin -€7,016
down €7,016, from €6,823 to -€193
- Other operating charges +€1,963
up €1,963 (+204%), from €964 to €2,927
- Depreciation -€590
down €590 (-10.6%), from €5,542 to €4,952
- Financial income -€418
down €418 (-80.6%), from €519 to €101
- Financial charges -€319
down €319 (-8.0%), from €3,988 to €3,669
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,019 | €59,156 | +€1,136 | +2.0% |
| Fixed assets | 21/28 | €8,639 | €7,763 | -€877 | -10.1% |
| Tangible fixed assets | 22/27 | €8,621 | €3,244 | -€5,377 | -62.4% |
| Plant, machinery and equipment | 23 | €6,750 | €2,954 | -€3,795 | -56.2% |
| Furniture and vehicles | 24 | €1,871 | €290 | -€1,582 | -84.5% |
| Financial fixed assets | 28 | €19 | €4,519 | +€4,500 | +24,207% |
| Current assets | 29/58 | €49,380 | €51,393 | +€2,013 | +4.1% |
| Stocks and contracts in progress | 3 | €44,967 | €44,613 | -€353 | -0.8% |
| Stocks | 30/36 | €44,967 | €44,613 | -€353 | -0.8% |
| Amounts receivable within one year | 40/41 | €3,876 | €6,060 | +€2,184 | +56.4% |
| Trade receivables | 40 | €3,876 | €1,704 | -€2,172 | -56.0% |
| Other amounts receivable | 41 | €0 | €4,356 | +€4,356 | |
| Cash at bank and in hand | 54/58 | €227 | €12 | -€215 | -94.5% |
| Deferred charges and accrued income | 490/1 | €310 | €707 | +€397 | +128% |
| Total equity and liabilities | 10/49 | €58,019 | €59,156 | +€1,136 | +2.0% |
| Equity | 10/15 | -€161,291 | -€173,497 | -€12,206 | -7.6% |
| Contributions | 10/11 | €60,600 | €60,600 | = | 0.0% |
| Reserves | 13 | €3,515 | €3,515 | = | 0.0% |
| Distributable reserves | 133 | €3,515 | €3,515 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€225,406 | -€237,612 | -€12,206 | -5.4% |
| Amounts payable | 17/49 | €219,310 | €232,653 | +€13,342 | +6.1% |
| Amounts payable after more than one year | 17 | €257 | €0 | -€257 | -100% |
| Financial debts | 170/4 | €257 | €0 | -€257 | -100% |
| Amounts payable within one year | 42/48 | €219,053 | €232,653 | +€13,599 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €2,985 | €2,021 | -€964 | -32.3% |
| Financial debts | 43 | €10,138 | €12,479 | +€2,341 | +23.1% |
| Credit institutions | 430/8 | €10,138 | €12,479 | +€2,341 | +23.1% |
| Trade debts | 44 | €16,547 | €12,099 | -€4,448 | -26.9% |
| Suppliers | 440/4 | €16,547 | €12,099 | -€4,448 | -26.9% |
| Taxes, remuneration and social security | 45 | €3,287 | €527 | -€2,759 | -84.0% |
| Taxes | 450/3 | €3,287 | €527 | -€2,759 | -84.0% |
| Other amounts payable | 47/48 | €186,096 | €205,525 | +€19,429 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,542 | €4,952 | -€590 | -10.6% |
| Other operating charges | 640/8 | €964 | €2,927 | +€1,963 | +204% |
| Non-recurring operating charges | 66A | - | €424 | +€424 | |
| Gross operating margin | 9900 | €6,823 | -€193 | -€7,016 | |
| Operating profit (loss) | 9901 | €317 | -€8,497 | -€8,814 | |
| Financial income | 75/76B | €519 | €101 | -€418 | -80.6% |
| Recurring financial income | 75 | €519 | €101 | -€418 | -80.6% |
| Financial charges | 65/66B | €3,988 | €3,669 | -€319 | -8.0% |
| Recurring financial charges | 65 | €3,988 | €3,669 | -€319 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,151 | -€12,065 | -€8,914 | -283% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€3,291 | -€12,206 | -€8,915 | -271% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,291 | -€12,206 | -€8,915 | -271% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.