ANTHONY PIROLLI: 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.
ANTHONY PIROLLI
Largest movements
- Receivables within one year +€55,717
up €55,717 (+199%), from €28,022 to €83,740
of which Other amounts receivable: +€51,261
- Cash -€29,029
down €29,029 (-99.2%), from €29,268 to €238
mainly Receivables within one year (-€55,717) and Net result for the year (-€21,608)
- Deferred charges and accrued income +€2,905
new in 2025: €2,905
- Tangible fixed assets +€972
up €972 (+96.2%), from €1,010 to €1,982
of which Plant, machinery and equipment: +€1,666
- Current portion of long-term debt +€31,434
new in 2025: €31,434
- Debts after one year +€27,942
new in 2025: €27,942
- Profit (loss) carried forward -€21,608
down €21,608 (-77.0%), from €28,051 to €6,443
- Tax, wage and social debts -€9,189
down €9,189 (-48.9%), from €18,780 to €9,591
- Trade debts +€1,985
up €1,985 (+127%), from €1,564 to €3,550
- Gross operating margin -€47,816
down €47,816, from €41,999 to -€5,818
- Financial income +€2,584
up €2,584 (+546%), from €473 to €3,057
- Other operating charges +€2,065
up €2,065 (+221%), from €936 to €3,000
- Financial charges +€996
up €996 (+397%), from €251 to €1,247
- Taxes +€801
up €801 (+6.2%), from €12,817 to €13,618
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 | €58,395 | €88,960 | +€30,565 | +52.3% |
| Fixed assets | 21/28 | €1,105 | €2,077 | +€972 | +87.9% |
| Tangible fixed assets | 22/27 | €1,010 | €1,982 | +€972 | +96.2% |
| Plant, machinery and equipment | 23 | - | €1,666 | +€1,666 | |
| Furniture and vehicles | 24 | €1,010 | €317 | -€694 | -68.7% |
| Financial fixed assets | 28 | €95 | €95 | = | 0.0% |
| Current assets | 29/58 | €57,290 | €86,883 | +€29,593 | +51.7% |
| Amounts receivable within one year | 40/41 | €28,022 | €83,740 | +€55,717 | +199% |
| Trade receivables | 40 | €12,403 | €16,859 | +€4,456 | +35.9% |
| Other amounts receivable | 41 | €15,620 | €66,881 | +€51,261 | +328% |
| Cash at bank and in hand | 54/58 | €29,268 | €238 | -€29,029 | -99.2% |
| Deferred charges and accrued income | 490/1 | - | €2,905 | +€2,905 | |
| Total equity and liabilities | 10/49 | €58,395 | €88,960 | +€30,565 | +52.3% |
| Equity | 10/15 | €38,051 | €16,443 | -€21,608 | -56.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,051 | €6,443 | -€21,608 | -77.0% |
| Amounts payable | 17/49 | €20,344 | €72,517 | +€52,173 | +256% |
| Amounts payable after more than one year | 17 | - | €27,942 | +€27,942 | |
| Financial debts | 170/4 | - | €27,942 | +€27,942 | |
| Amounts payable within one year | 42/48 | €20,344 | €44,575 | +€24,231 | +119% |
| Current portion of amounts payable after more than one year | 42 | - | €31,434 | +€31,434 | |
| Trade debts | 44 | €1,564 | €3,550 | +€1,985 | +127% |
| Suppliers | 440/4 | €1,564 | €3,550 | +€1,985 | +127% |
| Taxes, remuneration and social security | 45 | €18,780 | €9,591 | -€9,189 | -48.9% |
| Taxes | 450/3 | €18,780 | €9,591 | -€9,189 | -48.9% |
| Non-recurring operating income | 76A | - | €2,105 | +€2,105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €417 | €982 | +€565 | +135% |
| Other operating charges | 640/8 | €936 | €3,000 | +€2,065 | +221% |
| Gross operating margin | 9900 | €41,999 | -€5,818 | -€47,816 | |
| Operating profit (loss) | 9901 | €40,646 | -€9,800 | -€50,446 | |
| Financial income | 75/76B | €473 | €3,057 | +€2,584 | +546% |
| Recurring financial income | 75 | €473 | €3,057 | +€2,584 | +546% |
| Financial charges | 65/66B | €251 | €1,247 | +€996 | +397% |
| Recurring financial charges | 65 | €251 | €1,247 | +€996 | +397% |
| Profit (loss) for the period before taxes | 9903 | €40,868 | -€7,990 | -€48,858 | |
| Income taxes | 67/77 | €12,817 | €13,618 | +€801 | +6.2% |
| Profit (loss) for the period | 9904 | €28,051 | -€21,608 | -€49,659 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,051 | -€21,608 | -€49,659 |
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 17 October 2026 via checked.be.