N.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.
N.PIRON
Largest movements
- Cash +€63,708
up €63,708 (+34.3%), from €186,001 to €249,708
mainly Receivables within one year (+€38,061) and Depreciation (+€18,315)
- Receivables within one year -€38,061
down €38,061 (-75.7%), from €50,301 to €12,240
of which Trade receivables: -€32,000
- Tangible fixed assets -€18,315
down €18,315 (-18.9%), from €96,807 to €78,492
of which Plant, machinery and equipment: -€15,857
- Reserves +€7,218
up €7,218 (+2.3%), from €315,212 to €322,430
of which Distributable reserves: +€9,361
- Gross operating margin +€5,582
up €5,582 (+24.9%), from €22,378 to €27,960
- Taxes +€2,239
up €2,239 (+176%), from €1,272 to €3,510
- Financial income +€828
up €828 (+156%), from €530 to €1,358
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 | €372,453 | €384,343 | +€11,891 | +3.2% |
| Fixed assets | 21/28 | €96,807 | €78,492 | -€18,315 | -18.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €96,807 | €78,492 | -€18,315 | -18.9% |
| Land and buildings | 22 | €24,017 | €22,169 | -€1,847 | -7.7% |
| Plant, machinery and equipment | 23 | €71,879 | €56,022 | -€15,857 | -22.1% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €912 | €301 | -€611 | -67.0% |
| Current assets | 29/58 | €275,645 | €305,851 | +€30,206 | +11.0% |
| Stocks and contracts in progress | 3 | €29,868 | €33,315 | +€3,448 | +11.5% |
| Stocks | 30/36 | €29,868 | €33,315 | +€3,448 | +11.5% |
| Amounts receivable within one year | 40/41 | €50,301 | €12,240 | -€38,061 | -75.7% |
| Trade receivables | 40 | €43,407 | €11,407 | -€32,000 | -73.7% |
| Other amounts receivable | 41 | €6,894 | €833 | -€6,061 | -87.9% |
| Current investments | 50/53 | €7,238 | €7,238 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €186,001 | €249,708 | +€63,708 | +34.3% |
| Deferred charges and accrued income | 490/1 | €2,238 | €3,349 | +€1,111 | +49.7% |
| Total equity and liabilities | 10/49 | €372,453 | €384,343 | +€11,891 | +3.2% |
| Equity | 10/15 | €349,297 | €356,515 | +€7,218 | +2.1% |
| Contributions | 10/11 | €34,085 | €34,085 | = | 0.0% |
| Reserves | 13 | €315,212 | €322,430 | +€7,218 | +2.3% |
| Tax-exempt reserves | 132 | €12,755 | €10,613 | -€2,143 | -16.8% |
| Distributable reserves | 133 | €302,456 | €311,817 | +€9,361 | +3.1% |
| Provisions and deferred taxes | 16 | €4,260 | €3,546 | -€714 | -16.8% |
| Deferred taxes | 168 | €4,260 | €3,546 | -€714 | -16.8% |
| Amounts payable | 17/49 | €18,895 | €24,283 | +€5,387 | +28.5% |
| Amounts payable within one year | 42/48 | €7,777 | €11,253 | +€3,476 | +44.7% |
| Trade debts | 44 | €5,332 | €6,010 | +€679 | +12.7% |
| Suppliers | 440/4 | €5,332 | €6,010 | +€679 | +12.7% |
| Taxes, remuneration and social security | 45 | €1,657 | €4,454 | +€2,797 | +169% |
| Taxes | 450/3 | €1,657 | €3,154 | +€1,497 | +90.4% |
| Remuneration and social security | 454/9 | - | €1,300 | +€1,300 | |
| Other amounts payable | 47/48 | €789 | €789 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €11,118 | €13,029 | +€1,911 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,315 | €18,315 | = | 0.0% |
| Other operating charges | 640/8 | €879 | €905 | +€25 | +2.9% |
| Gross operating margin | 9900 | €22,378 | €27,960 | +€5,582 | +24.9% |
| Operating profit (loss) | 9901 | €3,183 | €8,740 | +€5,557 | +175% |
| Financial income | 75/76B | €530 | €1,358 | +€828 | +156% |
| Recurring financial income | 75 | €530 | €1,358 | +€828 | +156% |
| Financial charges | 65/66B | €212 | €85 | -€128 | -60.2% |
| Recurring financial charges | 65 | €212 | €85 | -€128 | -60.2% |
| Profit (loss) for the period before taxes | 9903 | €3,501 | €10,014 | +€6,513 | +186% |
| Transfer from deferred taxes | 780 | €714 | €714 | = | 0.0% |
| Income taxes | 67/77 | €1,272 | €3,510 | +€2,239 | +176% |
| Profit (loss) for the period | 9904 | €2,944 | €7,218 | +€4,274 | +145% |
| Transfer from tax-exempt reserves | 789 | €2,143 | €2,143 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,087 | €9,361 | +€4,274 | +84.0% |
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 29 October 2026 via checked.be.