David PIROTON: 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.
David PIROTON
Largest movements
- Cash -€31,657
down €31,657 (-66.6%), from €47,539 to €15,882
mainly Contributions, distributions and other (-€71,070) and Other debts (-€22,752)
- Tangible fixed assets -€8,167
down €8,167 (-4.4%), from €185,256 to €177,090
of which Land and buildings: -€10,333
- Deferred charges and accrued income +€7,452
up €7,452 (+138%), from €5,385 to €12,837
- Receivables within one year -€3,953
down €3,953 (-85.3%), from €4,637 to €684
of which Other amounts receivable: -€4,366
- Other debts -€22,752
down €22,752 (-21.8%), from €104,253 to €81,501
- Debts after one year -€17,180
down €17,180 (-15.0%), from €114,758 to €97,578
- Gross operating margin +€24,744
up €24,744 (+30.2%), from €81,862 to €106,606
- Taxes +€5,588
up €5,588 (+44.2%), from €12,634 to €18,222
- Other operating charges -€2,000
down €2,000 (-54.7%), from €3,659 to €1,659
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 | €242,817 | €206,492 | -€36,325 | -15.0% |
| Fixed assets | 21/28 | €185,256 | €177,090 | -€8,167 | -4.4% |
| Tangible fixed assets | 22/27 | €185,256 | €177,090 | -€8,167 | -4.4% |
| Land and buildings | 22 | €182,699 | €172,365 | -€10,333 | -5.7% |
| Furniture and vehicles | 24 | €1,929 | €4,194 | +€2,265 | +117% |
| Other tangible fixed assets | 26 | €629 | €531 | -€98 | -15.6% |
| Current assets | 29/58 | €57,561 | €29,403 | -€28,159 | -48.9% |
| Amounts receivable within one year | 40/41 | €4,637 | €684 | -€3,953 | -85.3% |
| Trade receivables | 40 | €272 | €684 | +€412 | +152% |
| Other amounts receivable | 41 | €4,366 | €0 | -€4,366 | -100% |
| Cash at bank and in hand | 54/58 | €47,539 | €15,882 | -€31,657 | -66.6% |
| Deferred charges and accrued income | 490/1 | €5,385 | €12,837 | +€7,452 | +138% |
| Total equity and liabilities | 10/49 | €242,817 | €206,492 | -€36,325 | -15.0% |
| Equity | 10/15 | €4,005 | €4,000 | -€5 | -0.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5 | €0 | -€5 | -100% |
| Amounts payable | 17/49 | €238,813 | €202,492 | -€36,320 | -15.2% |
| Amounts payable after more than one year | 17 | €114,758 | €97,578 | -€17,180 | -15.0% |
| Financial debts | 170/4 | €114,758 | €97,578 | -€17,180 | -15.0% |
| Amounts payable within one year | 42/48 | €123,444 | €104,283 | -€19,160 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €16,794 | €17,180 | +€386 | +2.3% |
| Trade debts | 44 | €2,396 | €4,605 | +€2,209 | +92.2% |
| Suppliers | 440/4 | €2,396 | €4,605 | +€2,209 | +92.2% |
| Taxes, remuneration and social security | 45 | €0 | €998 | +€998 | |
| Taxes | 450/3 | €0 | €998 | +€998 | |
| Other amounts payable | 47/48 | €104,253 | €81,501 | -€22,752 | -21.8% |
| Accrued charges and deferred income | 492/3 | €611 | €631 | +€20 | +3.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,810 | €11,519 | -€290 | -2.5% |
| Other operating charges | 640/8 | €3,659 | €1,659 | -€2,000 | -54.7% |
| Gross operating margin | 9900 | €81,862 | €106,606 | +€24,744 | +30.2% |
| Operating profit (loss) | 9901 | €66,394 | €93,428 | +€27,034 | +40.7% |
| Financial income | 75/76B | €0 | €81 | +€81 | |
| Recurring financial income | 75 | €0 | €81 | +€81 | |
| Financial charges | 65/66B | €4,908 | €4,222 | -€686 | -14.0% |
| Recurring financial charges | 65 | €4,908 | €4,222 | -€686 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €61,486 | €89,287 | +€27,801 | +45.2% |
| Income taxes | 67/77 | €12,634 | €18,222 | +€5,588 | +44.2% |
| Profit (loss) for the period | 9904 | €48,852 | €71,065 | +€22,213 | +45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,852 | €71,065 | +€22,213 | +45.5% |
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 23 October 2026 via checked.be.