Alexander Pirard: 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.
Alexander Pirard
Largest movements
- Receivables within one year +€63,224
new in 2025: €63,224
of which Other amounts receivable: +€62,436
- Cash -€23,105
down €23,105 (-23.3%), from €98,953 to €75,848
mainly Receivables within one year (-€63,224) and Deferred charges and accrued income (-€2,621)
- Deferred charges and accrued income +€2,621
up €2,621 (+976%), from €269 to €2,889
- Reserves +€39,971
up €39,971 (+51.8%), from €77,110 to €117,081
- Trade debts +€5,001
up €5,001 (+1,533%), from €326 to €5,327
- Other debts -€1,892
down €1,892 (-100%), from €1,892 to €0
- Gross operating margin +€14,954
up €14,954 (+42.4%), from €35,275 to €50,230
- Taxes +€2,864
up €2,864 (+37.0%), from €7,744 to €10,609
- Financial income +€1,739
up €1,739, from €0 to €1,739
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 | €99,221 | €141,960 | +€42,739 | +43.1% |
| Current assets | 29/58 | €99,221 | €141,960 | +€42,739 | +43.1% |
| Amounts receivable within one year | 40/41 | - | €63,224 | +€63,224 | |
| Trade receivables | 40 | - | €788 | +€788 | |
| Other amounts receivable | 41 | - | €62,436 | +€62,436 | |
| Cash at bank and in hand | 54/58 | €98,953 | €75,848 | -€23,105 | -23.3% |
| Deferred charges and accrued income | 490/1 | €269 | €2,889 | +€2,621 | +976% |
| Total equity and liabilities | 10/49 | €99,221 | €141,960 | +€42,739 | +43.1% |
| Equity | 10/15 | €80,110 | €120,081 | +€39,971 | +49.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €77,110 | €117,081 | +€39,971 | +51.8% |
| Distributable reserves | 133 | €77,110 | €117,081 | +€39,971 | +51.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,112 | €21,880 | +€2,768 | +14.5% |
| Amounts payable within one year | 42/48 | €19,112 | €21,880 | +€2,768 | +14.5% |
| Trade debts | 44 | €326 | €5,327 | +€5,001 | +1,533% |
| Suppliers | 440/4 | €326 | €5,327 | +€5,001 | +1,533% |
| Taxes, remuneration and social security | 45 | €16,893 | €16,553 | -€340 | -2.0% |
| Taxes | 450/3 | €16,893 | €16,553 | -€340 | -2.0% |
| Other amounts payable | 47/48 | €1,892 | €0 | -€1,892 | -100% |
| Other operating charges | 640/8 | €873 | €465 | -€407 | -46.7% |
| Gross operating margin | 9900 | €35,275 | €50,230 | +€14,954 | +42.4% |
| Operating profit (loss) | 9901 | €34,403 | €49,764 | +€15,361 | +44.7% |
| Financial income | 75/76B | €0 | €1,739 | +€1,739 | |
| Recurring financial income | 75 | €0 | €1,739 | +€1,739 | |
| Financial charges | 65/66B | €800 | €923 | +€123 | +15.4% |
| Recurring financial charges | 65 | €800 | €923 | +€123 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €33,603 | €50,579 | +€16,977 | +50.5% |
| Income taxes | 67/77 | €7,744 | €10,609 | +€2,864 | +37.0% |
| Profit (loss) for the period | 9904 | €25,858 | €39,971 | +€14,113 | +54.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,858 | €39,971 | +€14,113 | +54.6% |
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 19 October 2026 via checked.be.