CYCLES PITAU: 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.
CYCLES PITAU
Largest movements
- Cash -€25,568
down €25,568 (-43.0%), from €59,427 to €33,859
mainly Debts after one year (-€59,052) and Trade debts (-€37,514)
- Stocks and contracts -€14,158
down €14,158 (-1.9%), from €740,092 to €725,934
- Debts after one year -€59,052
down €59,052 (-85.6%), from €68,973 to €9,921
- Trade debts -€37,514
down €37,514 (-46.8%), from €80,171 to €42,657
- Tax, wage and social debts +€28,018
up €28,018 (+108.4%), from €25,842 to €53,860
of which Taxes: +€14,096
- Profit (loss) carried forward +€21,499
up €21,499 (+3.7%), from €574,978 to €596,477
- Staff costs -€38,095
down €38,095 (-16.5%), from €231,491 to €193,396
- Gross operating margin -€30,558
down €30,558 (-10.9%), from €280,303 to €249,745
- Depreciation -€8,874
down €8,874 (-53.0%), from €16,733 to €7,859
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.
Cash bridge derived
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 | €921,213 | €874,967 | -€46,246 | -5.0% |
| Fixed assets | 21/28 | €27,411 | €19,578 | -€7,833 | -28.6% |
| Tangible fixed assets | 22/27 | €18,997 | €11,138 | -€7,859 | -41.4% |
| Land and buildings | 22 | €10,606 | €8,964 | -€1,642 | -15.5% |
| Plant, machinery and equipment | 23 | €2,997 | €1,763 | -€1,234 | -41.2% |
| Furniture and vehicles | 24 | €5,394 | €411 | -€4,983 | -92.4% |
| Financial fixed assets | 28 | €8,414 | €8,440 | +€26 | +0.3% |
| Current assets | 29/58 | €893,802 | €855,389 | -€38,413 | -4.3% |
| Stocks and contracts in progress | 3 | €740,092 | €725,934 | -€14,158 | -1.9% |
| Stocks | 30/36 | €740,092 | €725,934 | -€14,158 | -1.9% |
| Amounts receivable within one year | 40/41 | €17,283 | €18,596 | +€1,313 | +7.6% |
| Trade receivables | 40 | - | €8,617 | +€8,617 | |
| Other amounts receivable | 41 | €17,283 | €9,979 | -€7,304 | -42.3% |
| Current investments | 50/53 | €77,000 | €77,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €59,427 | €33,859 | -€25,568 | -43.0% |
| Total equity and liabilities | 10/49 | €921,213 | €874,967 | -€46,246 | -5.0% |
| Equity | 10/15 | €687,978 | €709,477 | +€21,499 | +3.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €73,000 | €73,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €69,000 | €69,000 | = | 0.0% |
| Own shares acquired | 1312 | €69,000 | €69,000 | = | 0.0% |
| Distributable reserves | 133 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €574,978 | €596,477 | +€21,499 | +3.7% |
| Amounts payable | 17/49 | €233,235 | €165,490 | -€67,745 | -29.0% |
| Amounts payable after more than one year | 17 | €68,973 | €9,921 | -€59,052 | -85.6% |
| Financial debts | 170/4 | €68,973 | €9,921 | -€59,052 | -85.6% |
| Amounts payable within one year | 42/48 | €164,262 | €155,569 | -€8,693 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €58,249 | €59,052 | +€803 | +1.4% |
| Trade debts | 44 | €80,171 | €42,657 | -€37,514 | -46.8% |
| Suppliers | 440/4 | €80,171 | €42,657 | -€37,514 | -46.8% |
| Taxes, remuneration and social security | 45 | €25,842 | €53,860 | +€28,018 | +108.4% |
| Taxes | 450/3 | €4,525 | €18,621 | +€14,096 | +311.5% |
| Remuneration and social security | 454/9 | €21,317 | €35,239 | +€13,922 | +65.3% |
| Remuneration, social security and pensions | 62 | €231,491 | €193,396 | -€38,095 | -16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,733 | €7,859 | -€8,874 | -53.0% |
| Other operating charges | 640/8 | €7,723 | €8,584 | +€861 | +11.1% |
| Gross operating margin | 9900 | €280,303 | €249,745 | -€30,558 | -10.9% |
| Operating profit (loss) | 9901 | €24,356 | €39,906 | +€15,550 | +63.8% |
| Financial income | 75/76B | - | €207 | +€207 | |
| Recurring financial income | 75 | - | €207 | +€207 | |
| Financial charges | 65/66B | €9,489 | €10,722 | +€1,233 | +13.0% |
| Recurring financial charges | 65 | €9,489 | €10,722 | +€1,233 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €14,867 | €29,391 | +€14,524 | +97.7% |
| Income taxes | 67/77 | €5,789 | €7,892 | +€2,103 | +36.3% |
| Profit (loss) for the period | 9904 | €9,078 | €21,499 | +€12,421 | +136.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,078 | €21,499 | +€12,421 | +136.8% |
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 10 October 2026 via checked.be.