LE PILOTE: 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 PILOTE
Largest movements
- Tangible fixed assets -€22,880
down €22,880 (-10.2%), from €223,781 to €200,901
of which Land and buildings: -€20,790
- Cash -€6,289
down €6,289 (-16.4%), from €38,350 to €32,061
mainly Debts after one year (-€29,222) and Investment in fixed assets (net) (-€3,742)
- Stocks and contracts +€3,611
up €3,611 (+48.6%), from €7,425 to €11,037
- Receivables within one year -€3,506
down €3,506 (-18.0%), from €19,443 to €15,938
of which Trade receivables: -€3,087
- Deferred charges and accrued income -€3,377
down €3,377 (-56.6%), from €5,962 to €2,585
- Debts after one year -€29,222
down €29,222 (-16.5%), from €176,621 to €147,400
- Gross operating margin +€21,063
up €21,063 (+10.5%), from €201,046 to €222,109
- Staff costs +€12,781
up €12,781 (+7.9%), from €161,371 to €174,151
- Other operating charges -€3,349
down €3,349 (-24.7%), from €13,551 to €10,202
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 | €295,619 | €263,178 | -€32,440 | -11.0% |
| Fixed assets | 21/28 | €224,438 | €201,558 | -€22,880 | -10.2% |
| Tangible fixed assets | 22/27 | €223,781 | €200,901 | -€22,880 | -10.2% |
| Land and buildings | 22 | €207,900 | €187,110 | -€20,790 | -10.0% |
| Plant, machinery and equipment | 23 | €4,219 | €4,169 | -€51 | -1.2% |
| Furniture and vehicles | 24 | €11,662 | €9,622 | -€2,040 | -17.5% |
| Financial fixed assets | 28 | €657 | €657 | = | 0.0% |
| Current assets | 29/58 | €71,181 | €61,621 | -€9,560 | -13.4% |
| Stocks and contracts in progress | 3 | €7,425 | €11,037 | +€3,611 | +48.6% |
| Stocks | 30/36 | €7,425 | €11,037 | +€3,611 | +48.6% |
| Amounts receivable within one year | 40/41 | €19,443 | €15,938 | -€3,506 | -18.0% |
| Trade receivables | 40 | €3,177 | €90 | -€3,087 | -97.2% |
| Other amounts receivable | 41 | €16,266 | €15,848 | -€418 | -2.6% |
| Cash at bank and in hand | 54/58 | €38,350 | €32,061 | -€6,289 | -16.4% |
| Deferred charges and accrued income | 490/1 | €5,962 | €2,585 | -€3,377 | -56.6% |
| Total equity and liabilities | 10/49 | €295,619 | €263,178 | -€32,440 | -11.0% |
| Equity | 10/15 | €42,721 | €42,843 | +€122 | +0.3% |
| Contributions | 10/11 | €19,900 | €19,900 | = | 0.0% |
| Reserves | 13 | €19,108 | €19,108 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,274 | €17,274 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,274 | €17,274 | = | 0.0% |
| Distributable reserves | 133 | €1,835 | €1,835 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,713 | €3,835 | +€122 | +3.3% |
| Amounts payable | 17/49 | €252,897 | €220,335 | -€32,562 | -12.9% |
| Amounts payable after more than one year | 17 | €176,621 | €147,400 | -€29,222 | -16.5% |
| Financial debts | 170/4 | €176,621 | €147,400 | -€29,222 | -16.5% |
| Amounts payable within one year | 42/48 | €76,276 | €72,935 | -€3,341 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €29,636 | €31,000 | +€1,364 | +4.6% |
| Trade debts | 44 | €15,581 | €13,091 | -€2,490 | -16.0% |
| Suppliers | 440/4 | €15,581 | €13,091 | -€2,490 | -16.0% |
| Advances received on contracts in progress | 46 | €790 | - | -€790 | |
| Taxes, remuneration and social security | 45 | €29,741 | €28,471 | -€1,270 | -4.3% |
| Taxes | 450/3 | €12,232 | €12,256 | +€25 | +0.2% |
| Remuneration and social security | 454/9 | €17,509 | €16,214 | -€1,295 | -7.4% |
| Other amounts payable | 47/48 | €527 | €373 | -€154 | -29.2% |
| Non-recurring operating income | 76A | €6,581 | €2,985 | -€3,596 | -54.6% |
| Remuneration, social security and pensions | 62 | €161,371 | €174,151 | +€12,781 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,024 | €26,622 | +€598 | +2.3% |
| Other operating charges | 640/8 | €13,551 | €10,202 | -€3,349 | -24.7% |
| Gross operating margin | 9900 | €201,046 | €222,109 | +€21,063 | +10.5% |
| Operating profit (loss) | 9901 | €100 | €11,133 | +€11,033 | +11,046% |
| Financial income | 75/76B | €517 | €841 | +€324 | +62.7% |
| Recurring financial income | 75 | €517 | €841 | +€324 | +62.7% |
| Financial charges | 65/66B | €11,245 | €11,422 | +€177 | +1.6% |
| Recurring financial charges | 65 | €11,245 | €11,422 | +€177 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,628 | €552 | +€11,180 | |
| Income taxes | 67/77 | €291 | €431 | +€140 | +48.1% |
| Profit (loss) for the period | 9904 | -€10,919 | €122 | +€11,041 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,919 | €122 | +€11,041 |
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.