CT PIRSON: 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.
CT PIRSON
Largest movements
- Tangible fixed assets +€179,165
up €179,165 (+244%), from €73,394 to €252,559
of which Land and buildings: +€198,980
- Receivables within one year -€14,521
down €14,521 (-63.7%), from €22,803 to €8,282
of which Trade receivables: -€7,877
- Cash +€12,232
up €12,232 (+14.9%), from €81,879 to €94,111
mainly Debts after one year (+€150,490) and Depreciation (+€22,554)
- Debts after one year +€150,490
up €150,490 (+337%), from €44,678 to €195,168
- Profit (loss) carried forward +€14,192
up €14,192 (+14.0%), from €101,562 to €115,754
- Current portion of long-term debt +€9,504
up €9,504 (+63.3%), from €15,005 to €24,509
- Taxes -€2,026
down €2,026 (-32.9%), from €6,164 to €4,138
- Gross operating margin -€1,482
down €1,482 (-2.8%), from €53,045 to €51,563
- Depreciation +€1,445
up €1,445 (+6.8%), from €21,109 to €22,554
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 | €185,779 | €362,530 | +€176,751 | +95.1% |
| Formation expenses | 20 | €1,493 | €965 | -€528 | -35.4% |
| Fixed assets | 21/28 | €73,498 | €252,663 | +€179,165 | +244% |
| Tangible fixed assets | 22/27 | €73,394 | €252,559 | +€179,165 | +244% |
| Land and buildings | 22 | - | €198,980 | +€198,980 | |
| Plant, machinery and equipment | 23 | €5,928 | €3,857 | -€2,071 | -34.9% |
| Furniture and vehicles | 24 | €33,392 | €23,037 | -€10,355 | -31.0% |
| Leasing and similar rights | 25 | €34,074 | €26,685 | -€7,389 | -21.7% |
| Financial fixed assets | 28 | €104 | €104 | = | 0.0% |
| Current assets | 29/58 | €110,788 | €108,902 | -€1,886 | -1.7% |
| Amounts receivable within one year | 40/41 | €22,803 | €8,282 | -€14,521 | -63.7% |
| Trade receivables | 40 | €8,707 | €830 | -€7,877 | -90.5% |
| Other amounts receivable | 41 | €14,096 | €7,452 | -€6,644 | -47.1% |
| Cash at bank and in hand | 54/58 | €81,879 | €94,111 | +€12,232 | +14.9% |
| Deferred charges and accrued income | 490/1 | €6,106 | €6,509 | +€403 | +6.6% |
| Total equity and liabilities | 10/49 | €185,779 | €362,530 | +€176,751 | +95.1% |
| Equity | 10/15 | €116,562 | €130,754 | +€14,192 | +12.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,562 | €115,754 | +€14,192 | +14.0% |
| Amounts payable | 17/49 | €69,217 | €231,776 | +€162,559 | +235% |
| Amounts payable after more than one year | 17 | €44,678 | €195,168 | +€150,490 | +337% |
| Financial debts | 170/4 | €44,678 | €195,168 | +€150,490 | +337% |
| Amounts payable within one year | 42/48 | €24,539 | €36,608 | +€12,069 | +49.2% |
| Current portion of amounts payable after more than one year | 42 | €15,005 | €24,509 | +€9,504 | +63.3% |
| Trade debts | 44 | €1,326 | €667 | -€659 | -49.7% |
| Suppliers | 440/4 | €1,326 | €667 | -€659 | -49.7% |
| Taxes, remuneration and social security | 45 | - | €3,096 | +€3,096 | |
| Taxes | 450/3 | - | €3,096 | +€3,096 | |
| Other amounts payable | 47/48 | €8,208 | €8,336 | +€128 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,109 | €22,554 | +€1,445 | +6.8% |
| Other operating charges | 640/8 | €322 | €466 | +€144 | +44.7% |
| Non-recurring operating charges | 66A | - | €6,617 | +€6,617 | |
| Gross operating margin | 9900 | €53,045 | €51,563 | -€1,482 | -2.8% |
| Operating profit (loss) | 9901 | €31,614 | €21,926 | -€9,688 | -30.6% |
| Financial income | 75/76B | €15 | €2 | -€13 | -86.7% |
| Recurring financial income | 75 | €15 | €2 | -€13 | -86.7% |
| Financial charges | 65/66B | €3,111 | €3,598 | +€487 | +15.7% |
| Recurring financial charges | 65 | €3,111 | €3,598 | +€487 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €28,518 | €18,330 | -€10,188 | -35.7% |
| Income taxes | 67/77 | €6,164 | €4,138 | -€2,026 | -32.9% |
| Profit (loss) for the period | 9904 | €22,354 | €14,192 | -€8,162 | -36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,354 | €14,192 | -€8,162 | -36.5% |
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 13 October 2026 via checked.be.