H. PIRON: 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.
H. PIRON
Largest movements
- Cash +€65,308
up €65,308 (+143%), from €45,696 to €111,004
mainly Trade debts (+€49,471) and Net result for the year (+€30,750)
- Receivables within one year +€40,872
up €40,872 (+101%), from €40,271 to €81,144
of which Trade receivables: +€44,625
- Stocks and contracts -€28,152
down €28,152 (-50.0%), from €56,331 to €28,179
- Trade debts +€49,471
up €49,471 (+165%), from €29,905 to €79,375
- Profit (loss) carried forward +€30,750
up €30,750 (+379%), from €8,104 to €38,854
- Tax, wage and social debts -€2,650
down €2,650 (-56.5%), from €4,692 to €2,042
of which Taxes: -€2,202
- Staff costs -€94,583
down €94,583 (-53.8%), from €175,869 to €81,286
- Gross operating margin -€66,970
down €66,970 (-34.8%), from €192,174 to €125,204
- Taxes +€7,676
up €7,676 (+248%), from €3,097 to €10,773
- Depreciation -€2,638
down €2,638 (-87.2%), from €3,025 to €387
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 | €143,293 | €220,932 | +€77,639 | +54.2% |
| Fixed assets | 21/28 | €956 | €569 | -€387 | -40.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €598 | €212 | -€387 | -64.6% |
| Plant, machinery and equipment | 23 | €77 | €0 | -€77 | -100% |
| Furniture and vehicles | 24 | €521 | €212 | -€310 | -59.4% |
| Financial fixed assets | 28 | €358 | €358 | = | 0.0% |
| Current assets | 29/58 | €142,337 | €220,362 | +€78,025 | +54.8% |
| Stocks and contracts in progress | 3 | €56,331 | €28,179 | -€28,152 | -50.0% |
| Stocks | 30/36 | €56,331 | €28,179 | -€28,152 | -50.0% |
| Amounts receivable within one year | 40/41 | €40,271 | €81,144 | +€40,872 | +101% |
| Trade receivables | 40 | €29,800 | €74,425 | +€44,625 | +150% |
| Other amounts receivable | 41 | €10,471 | €6,718 | -€3,753 | -35.8% |
| Current investments | 50/53 | €38 | €36 | -€2 | -6.3% |
| Cash at bank and in hand | 54/58 | €45,696 | €111,004 | +€65,308 | +143% |
| Total equity and liabilities | 10/49 | €143,293 | €220,932 | +€77,639 | +54.2% |
| Equity | 10/15 | €108,595 | €139,344 | +€30,750 | +28.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €81,899 | €81,899 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,935 | €9,935 | = | 0.0% |
| Distributable reserves | 133 | €70,105 | €70,105 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,104 | €38,854 | +€30,750 | +379% |
| Amounts payable | 17/49 | €34,698 | €81,587 | +€46,889 | +135% |
| Amounts payable within one year | 42/48 | €34,698 | €81,587 | +€46,889 | +135% |
| Trade debts | 44 | €29,905 | €79,375 | +€49,471 | +165% |
| Suppliers | 440/4 | €29,905 | €79,375 | +€49,471 | +165% |
| Taxes, remuneration and social security | 45 | €4,692 | €2,042 | -€2,650 | -56.5% |
| Taxes | 450/3 | €2,775 | €573 | -€2,202 | -79.4% |
| Remuneration and social security | 454/9 | €1,917 | €1,470 | -€447 | -23.3% |
| Other amounts payable | 47/48 | €101 | €170 | +€68 | +67.3% |
| Remuneration, social security and pensions | 62 | €175,869 | €81,286 | -€94,583 | -53.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,025 | €387 | -€2,638 | -87.2% |
| Other operating charges | 640/8 | €1,613 | €1,655 | +€42 | +2.6% |
| Gross operating margin | 9900 | €192,174 | €125,204 | -€66,970 | -34.8% |
| Operating profit (loss) | 9901 | €11,668 | €41,877 | +€30,209 | +259% |
| Financial income | 75/76B | €133 | €22 | -€111 | -83.6% |
| Recurring financial income | 75 | €133 | €22 | -€111 | -83.6% |
| Financial charges | 65/66B | €600 | €376 | -€223 | -37.2% |
| Recurring financial charges | 65 | €600 | €376 | -€223 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €11,201 | €41,522 | +€30,322 | +271% |
| Income taxes | 67/77 | €3,097 | €10,773 | +€7,676 | +248% |
| Profit (loss) for the period | 9904 | €8,104 | €30,750 | +€22,646 | +279% |
| Profit (loss) for the period to be appropriated | 9905 | €8,104 | €30,750 | +€22,646 | +279% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.