BAUSTOFFE A. PIRONT: 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.
BAUSTOFFE A. PIRONT
Largest movements
- Tangible fixed assets +€515,420
up €515,420 (+154%), from €334,057 to €849,477
of which Leasing and similar rights: +€547,598
- Receivables within one year +€461,384
up €461,384 (+35.6%), from €1.3m to €1.8m
of which Trade receivables: +€430,335
- Cash -€237,569
down €237,569 (-33.7%), from €705,532 to €467,963
mainly Investment in fixed assets (net) (-€753,777) and Receivables within one year (-€461,384)
- Receivables after one year -€150,000
down €150,000 (-37.4%), from €401,500 to €251,500
- Debts after one year +€502,003
up €502,003 (+11,156%), from €4,500 to €506,503
- Profit (loss) carried forward +€253,588
up €253,588 (+12.1%), from €2.1m to €2.4m
- Trade debts -€121,896
down €121,896 (-62.0%), from €196,460 to €74,565
- Tax, wage and social debts -€90,464
down €90,464 (-53.2%), from €169,998 to €79,534
of which Remuneration and social security: -€69,155
- Other debts +€50,000
up €50,000 (+33.3%), from €150,000 to €200,000
- Staff costs -€265,904
down €265,904 (-29.8%), from €892,634 to €626,731
- Provisions +€156,352
no longer reported in 2025 (was -€156,352)
- Depreciation +€114,764
up €114,764 (+96.8%), from €118,593 to €233,357
- Taxes -€21,046
down €21,046 (-25.8%), from €81,707 to €60,660
- Financial income +€20,385
up €20,385 (+10.0%), from €204,181 to €224,566
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 | €3,938,455 | €4,573,035 | +€634,580 | +16.1% |
| Fixed assets | 21/28 | €341,107 | €861,527 | +€520,420 | +153% |
| Tangible fixed assets | 22/27 | €334,057 | €849,477 | +€515,420 | +154% |
| Land and buildings | 22 | €69,823 | €63,322 | -€6,501 | -9.3% |
| Plant, machinery and equipment | 23 | €101,674 | €146,843 | +€45,169 | +44.4% |
| Furniture and vehicles | 24 | €93,464 | €22,619 | -€70,845 | -75.8% |
| Leasing and similar rights | 25 | €69,096 | €616,693 | +€547,598 | +793% |
| Financial fixed assets | 28 | €7,050 | €12,050 | +€5,000 | +70.9% |
| Current assets | 29/58 | €3,597,348 | €3,711,508 | +€114,160 | +3.2% |
| Amounts receivable after more than one year | 29 | €401,500 | €251,500 | -€150,000 | -37.4% |
| Other amounts receivable | 291 | €401,500 | €251,500 | -€150,000 | -37.4% |
| Stocks and contracts in progress | 3 | €1,160,711 | €1,200,233 | +€39,522 | +3.4% |
| Stocks | 30/36 | €1,160,711 | €1,200,233 | +€39,522 | +3.4% |
| Amounts receivable within one year | 40/41 | €1,297,362 | €1,758,746 | +€461,384 | +35.6% |
| Trade receivables | 40 | €1,295,212 | €1,725,548 | +€430,335 | +33.2% |
| Other amounts receivable | 41 | €2,150 | €33,198 | +€31,048 | +1,444% |
| Cash at bank and in hand | 54/58 | €705,532 | €467,963 | -€237,569 | -33.7% |
| Deferred charges and accrued income | 490/1 | €32,243 | €33,065 | +€823 | +2.6% |
| Total equity and liabilities | 10/49 | €3,938,455 | €4,573,035 | +€634,580 | +16.1% |
| Equity | 10/15 | €3,352,842 | €3,605,874 | +€253,032 | +7.5% |
| Contributions | 10/11 | €475,000 | €475,000 | = | 0.0% |
| Capital | 10 | €475,000 | €475,000 | = | 0.0% |
| Issued capital | 100 | €475,000 | €475,000 | = | 0.0% |
| Reserves | 13 | €777,336 | €777,336 | = | 0.0% |
| Non-distributable reserves | 130/1 | €47,500 | €47,500 | = | 0.0% |
| Legal reserve | 130 | €47,500 | €47,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €419,576 | €419,576 | = | 0.0% |
| Distributable reserves | 133 | €310,261 | €310,261 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,099,005 | €2,352,593 | +€253,588 | +12.1% |
| Investment grants | 15 | €1,500 | €944 | -€556 | -37.1% |
| Amounts payable | 17/49 | €585,613 | €967,161 | +€381,548 | +65.2% |
| Amounts payable after more than one year | 17 | €4,500 | €506,503 | +€502,003 | +11,156% |
| Financial debts | 170/4 | €4,500 | €506,503 | +€502,003 | +11,156% |
| Amounts payable within one year | 42/48 | €579,834 | €453,568 | -€126,266 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €63,375 | €99,469 | +€36,094 | +57.0% |
| Trade debts | 44 | €196,460 | €74,565 | -€121,896 | -62.0% |
| Suppliers | 440/4 | €196,460 | €74,565 | -€121,896 | -62.0% |
| Taxes, remuneration and social security | 45 | €169,998 | €79,534 | -€90,464 | -53.2% |
| Taxes | 450/3 | €63,463 | €42,154 | -€21,309 | -33.6% |
| Remuneration and social security | 454/9 | €106,535 | €37,380 | -€69,155 | -64.9% |
| Other amounts payable | 47/48 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Accrued charges and deferred income | 492/3 | €1,279 | €7,090 | +€5,811 | +454% |
| Non-recurring operating income | 76A | €12,855 | - | -€12,855 | |
| Remuneration, social security and pensions | 62 | €892,634 | €626,731 | -€265,904 | -29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,593 | €233,357 | +€114,764 | +96.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,448 | €1,634 | -€4,814 | -74.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€156,352 | - | +€156,352 | |
| Other operating charges | 640/8 | €12,835 | €10,709 | -€2,126 | -16.6% |
| Non-recurring operating charges | 66A | €5,907 | - | -€5,907 | |
| Gross operating margin | 9900 | €1,229,826 | €1,249,681 | +€19,855 | +1.6% |
| Operating profit (loss) | 9901 | €349,760 | €377,250 | +€27,490 | +7.9% |
| Financial income | 75/76B | €204,181 | €224,566 | +€20,385 | +10.0% |
| Recurring financial income | 75 | €204,181 | €224,566 | +€20,385 | +10.0% |
| Financial charges | 65/66B | €71,635 | €87,568 | +€15,933 | +22.2% |
| Recurring financial charges | 65 | €71,635 | €87,568 | +€15,933 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | €482,306 | €514,248 | +€31,942 | +6.6% |
| Income taxes | 67/77 | €81,707 | €60,660 | -€21,046 | -25.8% |
| Profit (loss) for the period | 9904 | €400,599 | €453,588 | +€52,988 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €400,599 | €453,588 | +€52,988 | +13.2% |
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.