REAL PAINT: what changed
Two fiscal 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.
REAL PAINT
Largest movements
- Receivables within one year -€71,782
down €71,782 (-38.7%), from €185,463 to €113,682
of which Trade receivables: -€59,601
- Tangible fixed assets -€12,086
down €12,086 (-60.6%), from €19,944 to €7,858
of which Furniture and vehicles: -€11,781
- Trade debts -€37,163
down €37,163 (-60.2%), from €61,732 to €24,569
- Profit (loss) carried forward -€20,247
down €20,247 (-25.5%), from €79,324 to €59,077
- Tax, wage and social debts -€15,893
down €15,893 (-22.5%), from €70,718 to €54,825
- Short-term financial debts -€5,645
no longer reported in 2025 (was €5,645)
- Debts after one year -€4,302
no longer reported in 2025 (was €4,302)
- Purchases and services +€94,265
up €94,265 (+30.6%), from €308,534 to €402,799
- Gross operating margin -€50,532
down €50,532 (-34.8%), from €145,040 to €94,508
- Turnover +€44,707
up €44,707 (+10.0%), from €446,506 to €491,213
- Other operating charges -€25,029
down €25,029 (-23.3%), from €107,254 to €82,225
- Taxes -€12,786
down €12,786 (-33.8%), from €37,872 to €25,086
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.
Cash bridge derived
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 | €221,821 | €138,572 | -€83,250 | -37.5% |
| Fixed assets | 21/28 | €19,944 | €7,858 | -€12,086 | -60.6% |
| Tangible fixed assets | 22/27 | €19,944 | €7,858 | -€12,086 | -60.6% |
| Plant, machinery and equipment | 23 | €455 | €150 | -€305 | -67.0% |
| Furniture and vehicles | 24 | €19,489 | €7,708 | -€11,781 | -60.5% |
| Current assets | 29/58 | €201,877 | €130,714 | -€71,163 | -35.3% |
| Amounts receivable within one year | 40/41 | €185,463 | €113,682 | -€71,782 | -38.7% |
| Trade receivables | 40 | €78,824 | €19,223 | -€59,601 | -75.6% |
| Other amounts receivable | 41 | €106,639 | €94,459 | -€12,181 | -11.4% |
| Cash at bank and in hand | 54/58 | €15,842 | €16,614 | +€772 | +4.9% |
| Deferred charges and accrued income | 490/1 | €571 | €418 | -€154 | -26.9% |
| Total equity and liabilities | 10/49 | €221,821 | €138,572 | -€83,250 | -37.5% |
| Equity | 10/15 | €79,424 | €59,177 | -€20,247 | -25.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,324 | €59,077 | -€20,247 | -25.5% |
| Amounts payable | 17/49 | €142,397 | €79,394 | -€63,003 | -44.2% |
| Amounts payable after more than one year | 17 | €4,302 | - | -€4,302 | |
| Financial debts | 170/4 | €4,302 | - | -€4,302 | |
| Amounts payable within one year | 42/48 | €138,095 | €79,394 | -€58,701 | -42.5% |
| Financial debts | 43 | €5,645 | - | -€5,645 | |
| Credit institutions | 430/8 | €5,645 | - | -€5,645 | |
| Trade debts | 44 | €61,732 | €24,569 | -€37,163 | -60.2% |
| Suppliers | 440/4 | €61,732 | €24,569 | -€37,163 | -60.2% |
| Taxes, remuneration and social security | 45 | €70,718 | €54,825 | -€15,893 | -22.5% |
| Taxes | 450/3 | €70,718 | €54,825 | -€15,893 | -22.5% |
| Turnover | 70 | €446,506 | €491,213 | +€44,707 | +10.0% |
| Non-recurring operating income | 76A | €7,068 | €6,094 | -€974 | -13.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €308,534 | €402,799 | +€94,265 | +30.6% |
| Remuneration, social security and pensions | 62 | €4,379 | €1,375 | -€3,004 | -68.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,133 | €12,086 | -€5,046 | -29.5% |
| Other operating charges | 640/8 | €107,254 | €82,225 | -€25,029 | -23.3% |
| Gross operating margin | 9900 | €145,040 | €94,508 | -€50,532 | -34.8% |
| Operating profit (loss) | 9901 | €16,274 | -€1,179 | -€17,453 | |
| Financial income | 75/76B | €4,105 | €6,198 | +€2,093 | +51.0% |
| Recurring financial income | 75 | €4,105 | €6,198 | +€2,093 | +51.0% |
| Financial charges | 65/66B | €163 | €181 | +€17 | +10.5% |
| Recurring financial charges | 65 | €163 | €181 | +€17 | +10.5% |
| Profit (loss) for the period before taxes | 9903 | €20,216 | €4,839 | -€15,377 | -76.1% |
| Income taxes | 67/77 | €37,872 | €25,086 | -€12,786 | -33.8% |
| Profit (loss) for the period | 9904 | -€17,656 | -€20,247 | -€2,591 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,656 | -€20,247 | -€2,591 | -14.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.