4 - PI - R: 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.
What changed
4 - PI - R
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€9,702
2024 · €12,252-€2,550
Equity
€660,141
2024 · €650,440+€9,702
Cash
€12,809
2024 · €10,615+€2,194
Balance sheet total
€1.9m
2024 · €2.0m-€90,384
Largest movements
Assets
- Tangible fixed assets -€79,272
down €79,272 (-5.0%), from €1.6m to €1.5m
of which Plant, machinery and equipment: -€39,791
Equity and liabilities
- Debts after one year -€72,995
down €72,995 (-7.6%), from €955,421 to €882,426
Income statement
- Taxes +€8,109
up €8,109, from -€1,400 to €6,709
- Other operating charges -€7,270
down €7,270 (-44.5%), from €16,332 to €9,062
- Financial income -€5,599
down €5,599 (-93.8%), from €5,970 to €371
- Gross operating margin +€5,452
up €5,452 (+5.2%), from €104,217 to €109,669
- Depreciation +€1,910
up €1,910 (+2.5%), from €77,362 to €79,272
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.
Result 2024
€12,252
Gross operating margin
+€5,452
Depreciation
-€1,910
Other operating charges
+€7,270
Financial income
-€5,599
Financial charges
-€398
Taxes
-€8,109
Deferred taxes and other
+€744
Result 2025
€9,702
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€88,695
Investment
€0
Financing
-€86,501
Cash 2024
€10,615
From operations (derived)
+€88,695
Net result for the year
+€9,702
Depreciation
+€79,272
Receivables within one year
+€13,462
Deferred charges and accrued income
-€156
Provisions
-€8,565
Trade debts
-€1,198
Tax, wage and social debts
+€462
Other debts
-€4,284
Financing
-€86,501
Debts after one year
-€72,995
Current portion of long-term debt
+€835
Short-term financial debts
-€14,341
Cash 2025
€12,809
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,033,176 | €1,942,791 | -€90,384 | -4.4% |
| Fixed assets | 21/28 | €1,868,122 | €1,788,850 | -€79,272 | -4.2% |
| Tangible fixed assets | 22/27 | €1,576,372 | €1,497,100 | -€79,272 | -5.0% |
| Land and buildings | 22 | €1,175,139 | €1,136,282 | -€38,857 | -3.3% |
| Plant, machinery and equipment | 23 | €399,571 | €359,780 | -€39,791 | -10.0% |
| Furniture and vehicles | 24 | €1,661 | €1,038 | -€623 | -37.5% |
| Financial fixed assets | 28 | €291,750 | €291,750 | = | 0.0% |
| Current assets | 29/58 | €165,054 | €153,942 | -€11,113 | -6.7% |
| Amounts receivable after more than one year | 29 | €136,500 | €136,500 | = | 0.0% |
| Trade receivables | 290 | €136,500 | €136,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €13,525 | €63 | -€13,462 | -99.5% |
| Trade receivables | 40 | €13,462 | - | -€13,462 | |
| Other amounts receivable | 41 | €63 | €63 | = | 0.0% |
| Current investments | 50/53 | €516 | €516 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,615 | €12,809 | +€2,194 | +20.7% |
| Deferred charges and accrued income | 490/1 | €3,897 | €4,053 | +€156 | +4.0% |
| Total equity and liabilities | 10/49 | €2,033,176 | €1,942,791 | -€90,384 | -4.4% |
| Equity | 10/15 | €650,440 | €660,141 | +€9,702 | +1.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €554,321 | €563,626 | +€9,305 | +1.7% |
| Tax-exempt reserves | 132 | €424,321 | €398,626 | -€25,695 | -6.1% |
| Distributable reserves | 133 | €130,000 | €165,000 | +€35,000 | +26.9% |
| Profit (loss) carried forward | 14 | €76,119 | €76,516 | +€397 | +0.5% |
| Provisions and deferred taxes | 16 | €193,834 | €185,269 | -€8,565 | -4.4% |
| Provisions for liabilities and charges | 160/5 | €52,394 | €52,394 | = | 0.0% |
| Pensions and similar obligations | 160 | €52,394 | €52,394 | = | 0.0% |
| Deferred taxes | 168 | €141,440 | €132,875 | -€8,565 | -6.1% |
| Amounts payable | 17/49 | €1,188,902 | €1,097,381 | -€91,521 | -7.7% |
| Amounts payable after more than one year | 17 | €955,421 | €882,426 | -€72,995 | -7.6% |
| Financial debts | 170/4 | €955,421 | €882,426 | -€72,995 | -7.6% |
| Amounts payable within one year | 42/48 | €233,481 | €214,956 | -€18,526 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €72,160 | €72,995 | +€835 | +1.2% |
| Financial debts | 43 | €14,341 | - | -€14,341 | |
| Credit institutions | 430/8 | €14,341 | - | -€14,341 | |
| Trade debts | 44 | €5,183 | €3,985 | -€1,198 | -23.1% |
| Suppliers | 440/4 | €5,183 | €3,985 | -€1,198 | -23.1% |
| Taxes, remuneration and social security | 45 | €10,260 | €10,722 | +€462 | +4.5% |
| Taxes | 450/3 | €10,260 | €10,722 | +€462 | +4.5% |
| Other amounts payable | 47/48 | €131,537 | €127,253 | -€4,284 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,362 | €79,272 | +€1,910 | +2.5% |
| Other operating charges | 640/8 | €16,332 | €9,062 | -€7,270 | -44.5% |
| Gross operating margin | 9900 | €104,217 | €109,669 | +€5,452 | +5.2% |
| Operating profit (loss) | 9901 | €10,523 | €21,335 | +€10,812 | +103% |
| Financial income | 75/76B | €5,970 | €371 | -€5,599 | -93.8% |
| Recurring financial income | 75 | €5,970 | €371 | -€5,599 | -93.8% |
| Financial charges | 65/66B | €13,462 | €13,860 | +€398 | +3.0% |
| Recurring financial charges | 65 | €13,462 | €13,860 | +€398 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €3,031 | €7,846 | +€4,814 | +159% |
| Transfer from deferred taxes | 780 | €7,821 | €8,565 | +€744 | +9.5% |
| Income taxes | 67/77 | -€1,400 | €6,709 | +€8,109 | |
| Profit (loss) for the period | 9904 | €12,252 | €9,702 | -€2,550 | -20.8% |
| Transfer from tax-exempt reserves | 789 | €23,463 | €25,695 | +€2,232 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,715 | €35,397 | -€318 | -0.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.