Kris Pyl: 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.
Kris Pyl
Largest movements
- Receivables within one year +€65,527
up €65,527 (+28.5%), from €229,826 to €295,352
of which Trade receivables: +€53,828
- Tangible fixed assets -€41,479
down €41,479 (-9.6%), from €433,810 to €392,331
of which Land and buildings: -€31,936
- Cash +€32,946
up €32,946 (+53.3%), from €61,801 to €94,747
mainly Net result for the year (+€131,080) and Depreciation (+€68,145)
- Intangible fixed assets -€27,865
down €27,865 (-17.0%), from €164,008 to €136,142
- Deferred charges and accrued income +€9,721
up €9,721 (+28.6%), from €34,042 to €43,763
- Debts after one year -€73,440
down €73,440 (-15.8%), from €466,077 to €392,637
- Reserves +€63,150
up €63,150 (+3,397%), from €1,859 to €65,009
of which Tax-exempt reserves: +€63,150
- Trade debts +€30,259
up €30,259 (+60.4%), from €50,068 to €80,328
- Profit (loss) carried forward +€17,930
up €17,930 (+7.9%), from €226,115 to €244,045
- Other debts +€10,250
up €10,250 (+25.8%), from €39,750 to €50,000
- Gross operating margin +€134,714
up €134,714 (+23.1%), from €582,759 to €717,473
- Staff costs +€45,168
up €45,168 (+12.2%), from €370,965 to €416,133
- Taxes +€25,915
up €25,915 (+120%), from €21,613 to €47,528
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 | €923,534 | €962,384 | +€38,850 | +4.2% |
| Fixed assets | 21/28 | €597,865 | €528,522 | -€69,344 | -11.6% |
| Intangible fixed assets | 21 | €164,008 | €136,142 | -€27,865 | -17.0% |
| Tangible fixed assets | 22/27 | €433,810 | €392,331 | -€41,479 | -9.6% |
| Land and buildings | 22 | €398,885 | €366,949 | -€31,936 | -8.0% |
| Plant, machinery and equipment | 23 | €17,791 | €16,865 | -€926 | -5.2% |
| Furniture and vehicles | 24 | €14,966 | €7,195 | -€7,771 | -51.9% |
| Leasing and similar rights | 25 | €2,167 | €1,322 | -€846 | -39.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €48 | €48 | = | 0.0% |
| Current assets | 29/58 | €325,669 | €433,862 | +€108,194 | +33.2% |
| Amounts receivable within one year | 40/41 | €229,826 | €295,352 | +€65,527 | +28.5% |
| Trade receivables | 40 | €222,725 | €276,553 | +€53,828 | +24.2% |
| Other amounts receivable | 41 | €7,100 | €18,799 | +€11,699 | +165% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €61,801 | €94,747 | +€32,946 | +53.3% |
| Deferred charges and accrued income | 490/1 | €34,042 | €43,763 | +€9,721 | +28.6% |
| Total equity and liabilities | 10/49 | €923,534 | €962,384 | +€38,850 | +4.2% |
| Equity | 10/15 | €246,566 | €327,646 | +€81,080 | +32.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €65,009 | +€63,150 | +3,397% |
| Tax-exempt reserves | 132 | - | €63,150 | +€63,150 | |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €226,115 | €244,045 | +€17,930 | +7.9% |
| Amounts payable | 17/49 | €676,968 | €634,738 | -€42,230 | -6.2% |
| Amounts payable after more than one year | 17 | €466,077 | €392,637 | -€73,440 | -15.8% |
| Financial debts | 170/4 | €466,077 | €392,637 | -€73,440 | -15.8% |
| Amounts payable within one year | 42/48 | €210,783 | €240,045 | +€29,262 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €80,050 | €73,440 | -€6,610 | -8.3% |
| Trade debts | 44 | €50,068 | €80,328 | +€30,259 | +60.4% |
| Suppliers | 440/4 | €50,068 | €80,328 | +€30,259 | +60.4% |
| Taxes, remuneration and social security | 45 | €40,915 | €36,277 | -€4,638 | -11.3% |
| Taxes | 450/3 | €0 | €543 | +€543 | |
| Remuneration and social security | 454/9 | €40,915 | €35,735 | -€5,180 | -12.7% |
| Other amounts payable | 47/48 | €39,750 | €50,000 | +€10,250 | +25.8% |
| Accrued charges and deferred income | 492/3 | €107 | €2,056 | +€1,949 | +1,819% |
| Remuneration, social security and pensions | 62 | €370,965 | €416,133 | +€45,168 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,308 | €68,145 | -€6,162 | -8.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,376 | €10,489 | -€2,886 | -21.6% |
| Other operating charges | 640/8 | €32,019 | €31,137 | -€882 | -2.8% |
| Gross operating margin | 9900 | €582,759 | €717,473 | +€134,714 | +23.1% |
| Operating profit (loss) | 9901 | €92,092 | €191,569 | +€99,477 | +108% |
| Financial income | 75/76B | €1,000 | €0 | -€1,000 | -100% |
| Recurring financial income | 75 | €1,000 | €0 | -€1,000 | -100% |
| Financial charges | 65/66B | €16,482 | €12,961 | -€3,521 | -21.4% |
| Recurring financial charges | 65 | €16,482 | €12,961 | -€3,521 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €76,609 | €178,608 | +€101,998 | +133% |
| Income taxes | 67/77 | €21,613 | €47,528 | +€25,915 | +120% |
| Profit (loss) for the period | 9904 | €54,996 | €131,080 | +€76,084 | +138% |
| Transfer to tax-exempt reserves | 689 | - | €63,150 | +€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €54,996 | €67,930 | +€12,934 | +23.5% |
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 25 October 2026 via checked.be.