LE PIERROT: 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.
LE PIERROT
Largest movements
- Tangible fixed assets -€46,029
down €46,029 (-18.8%), from €244,357 to €198,328
- Receivables within one year +€18,520
up €18,520 (+827%), from €2,239 to €20,759
of which Other amounts receivable: +€19,866
- Receivables after one year -€13,900
no longer reported in 2025 (was €13,900)
- Reserves -€28,327
down €28,327 (-14.0%), from €201,999 to €173,672
of which Distributable reserves: -€14,650
- Profit (loss) carried forward +€22,230
up €22,230 (+33.1%), from -€67,108 to -€44,879
- Current portion of long-term debt -€19,754
no longer reported in 2025 (was €19,754)
- Other debts -€7,597
no longer reported in 2025 (was €7,597)
- Provisions -€7,046
down €7,046 (-8.5%), from €83,114 to €76,068
- Gross operating margin -€27,251
down €27,251 (-47.7%), from €57,151 to €29,901
- Depreciation -€15,942
down €15,942 (-44.8%), from €35,570 to €19,629
- Taxes +€2,450
up €2,450 (+49.4%), from €4,960 to €7,410
- Financial charges -€1,110
down €1,110 (-71.1%), from €1,561 to €451
- Other operating charges +€792
up €792 (+163%), from €487 to €1,280
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 | €266,872 | €225,033 | -€41,839 | -15.7% |
| Fixed assets | 21/28 | €244,357 | €198,328 | -€46,029 | -18.8% |
| Tangible fixed assets | 22/27 | €244,357 | €198,328 | -€46,029 | -18.8% |
| Land and buildings | 22 | €244,357 | €198,328 | -€46,029 | -18.8% |
| Current assets | 29/58 | €22,515 | €26,705 | +€4,189 | +18.6% |
| Amounts receivable after more than one year | 29 | €13,900 | - | -€13,900 | |
| Other amounts receivable | 291 | €13,900 | - | -€13,900 | |
| Amounts receivable within one year | 40/41 | €2,239 | €20,759 | +€18,520 | +827% |
| Trade receivables | 40 | €1,345 | - | -€1,345 | |
| Other amounts receivable | 41 | €893 | €20,759 | +€19,866 | +2,224% |
| Cash at bank and in hand | 54/58 | €6,377 | €5,946 | -€431 | -6.8% |
| Total equity and liabilities | 10/49 | €266,872 | €225,033 | -€41,839 | -15.7% |
| Equity | 10/15 | €153,483 | €147,385 | -€6,098 | -4.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €201,999 | €173,672 | -€28,327 | -14.0% |
| 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 | €161,340 | €147,662 | -€13,677 | -8.5% |
| Distributable reserves | 133 | €38,800 | €24,150 | -€14,650 | -37.8% |
| Profit (loss) carried forward | 14 | -€67,108 | -€44,879 | +€22,230 | +33.1% |
| Provisions and deferred taxes | 16 | €83,114 | €76,068 | -€7,046 | -8.5% |
| Deferred taxes | 168 | €83,114 | €76,068 | -€7,046 | -8.5% |
| Amounts payable | 17/49 | €30,275 | €1,580 | -€28,695 | -94.8% |
| Amounts payable after more than one year | 17 | €1,460 | €1,460 | = | 0.0% |
| Other amounts payable | 178/9 | €1,460 | €1,460 | = | 0.0% |
| Amounts payable within one year | 42/48 | €28,815 | €120 | -€28,695 | -99.6% |
| Current portion of amounts payable after more than one year | 42 | €19,754 | - | -€19,754 | |
| Trade debts | 44 | €1,464 | €120 | -€1,344 | -91.8% |
| Suppliers | 440/4 | €1,464 | €120 | -€1,344 | -91.8% |
| Other amounts payable | 47/48 | €7,597 | - | -€7,597 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,570 | €19,629 | -€15,942 | -44.8% |
| Other operating charges | 640/8 | €487 | €1,280 | +€792 | +163% |
| Gross operating margin | 9900 | €57,151 | €29,901 | -€27,251 | -47.7% |
| Operating profit (loss) | 9901 | €21,093 | €8,992 | -€12,101 | -57.4% |
| Financial income | 75/76B | €248 | €375 | +€127 | +51.2% |
| Recurring financial income | 75 | €248 | €375 | +€127 | +51.2% |
| Financial charges | 65/66B | €1,561 | €451 | -€1,110 | -71.1% |
| Recurring financial charges | 65 | €1,561 | €451 | -€1,110 | -71.1% |
| Profit (loss) for the period before taxes | 9903 | €19,780 | €8,916 | -€10,864 | -54.9% |
| Transfer from deferred taxes | 780 | - | €7,046 | +€7,046 | |
| Income taxes | 67/77 | €4,960 | €7,410 | +€2,450 | +49.4% |
| Profit (loss) for the period | 9904 | €14,820 | €8,552 | -€6,268 | -42.3% |
| Transfer from tax-exempt reserves | 789 | - | €13,677 | +€13,677 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,820 | €22,230 | +€7,409 | +50.0% |
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 21 October 2026 via checked.be.