T-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.
T-PAINT
Largest movements
- Tangible fixed assets +€254,986
up €254,986 (+93.5%), from €272,848 to €527,834
of which Plant, machinery and equipment: +€266,893
- Receivables within one year -€135,799
down €135,799 (-53.7%), from €252,750 to €116,951
of which Trade receivables: -€172,559
- Cash -€24,327
down €24,327 (-85.7%), from €28,371 to €4,044
mainly Investment in fixed assets (net) (-€285,815) and Net result for the year (-€88,937)
- Debts after one year +€137,661
up €137,661 (+60.4%), from €227,903 to €365,564
- Profit (loss) carried forward -€88,937
new in 2025: -€88,937
- Other debts +€61,737
new in 2025: €61,737
- Short-term financial debts +€35,274
up €35,274 (+28.2%), from €125,000 to €160,274
- Trade debts -€25,638
down €25,638 (-63.8%), from €40,183 to €14,545
- Gross operating margin -€69,412
down €69,412 (-42.7%), from €162,395 to €92,983
- Depreciation +€14,290
up €14,290 (+86.4%), from €16,539 to €30,829
- Other operating charges +€6,045
up €6,045 (+94.4%), from €6,403 to €12,448
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 | €625,889 | €720,749 | +€94,860 | +15.2% |
| Fixed assets | 21/28 | €272,848 | €527,834 | +€254,986 | +93.5% |
| Tangible fixed assets | 22/27 | €272,848 | €527,834 | +€254,986 | +93.5% |
| Land and buildings | 22 | €180,497 | €172,226 | -€8,271 | -4.6% |
| Plant, machinery and equipment | 23 | €41,347 | €308,240 | +€266,893 | +645.5% |
| Furniture and vehicles | 24 | €881 | €441 | -€440 | -49.9% |
| Other tangible fixed assets | 26 | €50,123 | €46,927 | -€3,196 | -6.4% |
| Current assets | 29/58 | €353,041 | €192,915 | -€160,126 | -45.4% |
| Stocks and contracts in progress | 3 | €71,920 | €71,920 | = | 0.0% |
| Stocks | 30/36 | €71,920 | €71,920 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €252,750 | €116,951 | -€135,799 | -53.7% |
| Trade receivables | 40 | €242,277 | €69,718 | -€172,559 | -71.2% |
| Other amounts receivable | 41 | €10,473 | €47,233 | +€36,760 | +351.0% |
| Cash at bank and in hand | 54/58 | €28,371 | €4,044 | -€24,327 | -85.7% |
| Total equity and liabilities | 10/49 | €625,889 | €720,749 | +€94,860 | +15.2% |
| Equity | 10/15 | €154,040 | €65,103 | -€88,937 | -57.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €135,448 | €135,448 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,151 | €3,151 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,151 | €3,151 | = | 0.0% |
| Distributable reserves | 133 | €132,297 | €132,297 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€88,937 | -€88,937 | |
| Amounts payable | 17/49 | €471,849 | €655,646 | +€183,797 | +39.0% |
| Amounts payable after more than one year | 17 | €227,903 | €365,564 | +€137,661 | +60.4% |
| Financial debts | 170/4 | €227,903 | €365,564 | +€137,661 | +60.4% |
| Amounts payable within one year | 42/48 | €243,946 | €290,082 | +€46,136 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €52,237 | €32,189 | -€20,048 | -38.4% |
| Financial debts | 43 | €125,000 | €160,274 | +€35,274 | +28.2% |
| Credit institutions | 430/8 | €125,000 | €160,274 | +€35,274 | +28.2% |
| Trade debts | 44 | €40,183 | €14,545 | -€25,638 | -63.8% |
| Suppliers | 440/4 | €40,183 | €14,545 | -€25,638 | -63.8% |
| Taxes, remuneration and social security | 45 | €26,526 | €21,337 | -€5,189 | -19.6% |
| Taxes | 450/3 | €25,620 | €10,710 | -€14,910 | -58.2% |
| Remuneration and social security | 454/9 | €906 | €10,627 | +€9,721 | +1073.0% |
| Other amounts payable | 47/48 | - | €61,737 | +€61,737 | |
| Remuneration, social security and pensions | 62 | €110,275 | €110,406 | +€131 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,539 | €30,829 | +€14,290 | +86.4% |
| Other operating charges | 640/8 | €6,403 | €12,448 | +€6,045 | +94.4% |
| Gross operating margin | 9900 | €162,395 | €92,983 | -€69,412 | -42.7% |
| Operating profit (loss) | 9901 | €29,178 | -€60,700 | -€89,878 | |
| Financial income | 75/76B | €159 | - | -€159 | |
| Recurring financial income | 75 | €159 | - | -€159 | |
| Financial charges | 65/66B | €28,299 | €28,237 | -€62 | -0.2% |
| Recurring financial charges | 65 | €28,299 | €28,237 | -€62 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €1,038 | -€88,937 | -€89,975 | |
| Profit (loss) for the period | 9904 | €1,038 | -€88,937 | -€89,975 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,038 | -€88,937 | -€89,975 |
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 9 October 2026 via checked.be.