MENUISERIE PIRGHAYE: what changed
MENUISERIE PIRGHAYE
Largest movements
- Receivables within one year -€60,969
down €60,969 (-57.5%), from €106,107 to €45,138
of which Trade receivables: -€64,244
- Tangible fixed assets +€28,297
up €28,297 (+93.3%), from €30,323 to €58,619
of which Other tangible fixed assets: +€23,175
- Deferred charges and accrued income -€10,856
no longer reported in 2025 (was €10,856)
- Stocks and contracts -€8,453
down €8,453 (-30.3%), from €27,877 to €19,423
- Cash -€6,431
down €6,431 (-85.9%), from €7,485 to €1,054
mainly Investment in fixed assets (net) (-€37,982) and Trade debts (-€31,298)
- Trade debts -€31,298
no longer reported in 2025 (was €31,298)
- Tax, wage and social debts -€26,243
down €26,243 (-69.3%), from €37,844 to €11,601
of which Taxes: -€24,298
- Profit (loss) carried forward -€19,008
down €19,008 (-31.9%), from €59,574 to €40,566
- Current portion of long-term debt +€10,351
up €10,351 (+217%), from €4,762 to €15,113
- Debts after one year +€9,669
up €9,669 (+85.4%), from €11,324 to €20,993
- Gross operating margin -€43,909
down €43,909 (-24.9%), from €176,562 to €132,652
- Staff costs +€36,753
up €36,753 (+38.1%), from €96,528 to €133,281
- Taxes -€19,548
down €19,548, from €12,906 to -€6,642
- Other operating charges +€9,453
up €9,453 (+1,442%), from €655 to €10,108
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €186,832 | €128,420 | -€58,412 | -31.3% |
| Fixed assets | 21/28 | €34,508 | €62,804 | +€28,297 | +82.0% |
| Tangible fixed assets | 22/27 | €30,323 | €58,619 | +€28,297 | +93.3% |
| Plant, machinery and equipment | 23 | €28,203 | €28,831 | +€627 | +2.2% |
| Furniture and vehicles | 24 | €808 | €5,302 | +€4,494 | +556% |
| Other tangible fixed assets | 26 | €1,311 | €24,487 | +€23,175 | +1,767% |
| Financial fixed assets | 28 | €4,185 | €4,185 | = | 0.0% |
| Current assets | 29/58 | €152,324 | €65,615 | -€86,709 | -56.9% |
| Stocks and contracts in progress | 3 | €27,877 | €19,423 | -€8,453 | -30.3% |
| Stocks | 30/36 | €27,877 | €19,423 | -€8,453 | -30.3% |
| Amounts receivable within one year | 40/41 | €106,107 | €45,138 | -€60,969 | -57.5% |
| Trade receivables | 40 | €103,479 | €39,235 | -€64,244 | -62.1% |
| Other amounts receivable | 41 | €2,628 | €5,904 | +€3,275 | +125% |
| Cash at bank and in hand | 54/58 | €7,485 | €1,054 | -€6,431 | -85.9% |
| Deferred charges and accrued income | 490/1 | €10,856 | - | -€10,856 | |
| Total equity and liabilities | 10/49 | €186,832 | €128,420 | -€58,412 | -31.3% |
| Equity | 10/15 | €77,497 | €58,488 | -€19,008 | -24.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | - | €10,000 | +€10,000 | |
| Issued capital | 100 | - | €10,000 | +€10,000 | |
| Reserves | 13 | €7,923 | €7,923 | = | 0.0% |
| Distributable reserves | 133 | €7,923 | €7,923 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,574 | €40,566 | -€19,008 | -31.9% |
| Amounts payable | 17/49 | €109,335 | €69,931 | -€39,404 | -36.0% |
| Amounts payable after more than one year | 17 | €11,324 | €20,993 | +€9,669 | +85.4% |
| Financial debts | 170/4 | €11,324 | €20,993 | +€9,669 | +85.4% |
| Amounts payable within one year | 42/48 | €98,011 | €48,757 | -€49,254 | -50.3% |
| Current portion of amounts payable after more than one year | 42 | €4,762 | €15,113 | +€10,351 | +217% |
| Financial debts | 43 | €326 | - | -€326 | |
| Credit institutions | 430/8 | €326 | - | -€326 | |
| Trade debts | 44 | €31,298 | - | -€31,298 | |
| Suppliers | 440/4 | €31,298 | - | -€31,298 | |
| Advances received on contracts in progress | 46 | €4,915 | €4,915 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €37,844 | €11,601 | -€26,243 | -69.3% |
| Taxes | 450/3 | €24,335 | €37 | -€24,298 | -99.8% |
| Remuneration and social security | 454/9 | €13,509 | €11,565 | -€1,945 | -14.4% |
| Other amounts payable | 47/48 | €18,867 | €17,128 | -€1,739 | -9.2% |
| Accrued charges and deferred income | 492/3 | - | €182 | +€182 | |
| Remuneration, social security and pensions | 62 | €96,528 | €133,281 | +€36,753 | +38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,009 | €9,685 | +€1,677 | +20.9% |
| Other operating charges | 640/8 | €655 | €10,108 | +€9,453 | +1,442% |
| Non-recurring operating charges | 66A | - | €1,674 | +€1,674 | |
| Gross operating margin | 9900 | €176,562 | €132,652 | -€43,909 | -24.9% |
| Operating profit (loss) | 9901 | €71,370 | -€22,096 | -€93,466 | |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €2,450 | €3,554 | +€1,104 | +45.0% |
| Recurring financial charges | 65 | €2,450 | €3,554 | +€1,104 | +45.0% |
| Profit (loss) for the period before taxes | 9903 | €68,929 | -€25,650 | -€94,580 | |
| Income taxes | 67/77 | €12,906 | -€6,642 | -€19,548 | |
| Profit (loss) for the period | 9904 | €56,024 | -€19,008 | -€75,032 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,024 | -€19,008 | -€75,032 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.