Pascal Pierco: 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.
Pascal Pierco
Largest movements
- Cash +€20,956
up €20,956 (+81.4%), from €25,753 to €46,709
mainly Net result for the year (+€21,111) and Other debts (+€7,912)
- Receivables within one year +€7,790
up €7,790 (+31.6%), from €24,617 to €32,408
of which Other amounts receivable: +€12,763
- Tangible fixed assets +€2,025
up €2,025 (+36.9%), from €5,494 to €7,519
of which Furniture and vehicles: +€1,756
- Reserves +€21,111
up €21,111 (+40.8%), from €51,753 to €72,864
- Other debts +€7,912
up €7,912 (+463%), from €1,708 to €9,620
- Trade debts +€1,662
up €1,662 (+137%), from €1,210 to €2,873
- Gross operating margin -€41,962
down €41,962 (-52.1%), from €80,514 to €38,552
- Taxes -€13,077
down €13,077 (-50.5%), from €25,879 to €12,802
- Depreciation +€1,971
up €1,971 (+212%), from €930 to €2,901
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 | €56,050 | €86,735 | +€30,686 | +54.7% |
| Fixed assets | 21/28 | €5,494 | €7,519 | +€2,025 | +36.9% |
| Tangible fixed assets | 22/27 | €5,494 | €7,519 | +€2,025 | +36.9% |
| Plant, machinery and equipment | 23 | €413 | €683 | +€269 | +65.2% |
| Furniture and vehicles | 24 | €5,081 | €6,837 | +€1,756 | +34.6% |
| Current assets | 29/58 | €50,556 | €79,216 | +€28,660 | +56.7% |
| Amounts receivable within one year | 40/41 | €24,617 | €32,408 | +€7,790 | +31.6% |
| Trade receivables | 40 | €8,222 | €3,249 | -€4,973 | -60.5% |
| Other amounts receivable | 41 | €16,395 | €29,159 | +€12,763 | +77.8% |
| Cash at bank and in hand | 54/58 | €25,753 | €46,709 | +€20,956 | +81.4% |
| Deferred charges and accrued income | 490/1 | €185 | €99 | -€85 | -46.2% |
| Total equity and liabilities | 10/49 | €56,050 | €86,735 | +€30,686 | +54.7% |
| Equity | 10/15 | €52,253 | €73,364 | +€21,111 | +40.4% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €51,753 | €72,864 | +€21,111 | +40.8% |
| Distributable reserves | 133 | €51,753 | €72,864 | +€21,111 | +40.8% |
| Amounts payable | 17/49 | €3,797 | €13,372 | +€9,575 | +252% |
| Amounts payable within one year | 42/48 | €3,797 | €13,372 | +€9,575 | +252% |
| Trade debts | 44 | €1,210 | €2,873 | +€1,662 | +137% |
| Suppliers | 440/4 | €1,210 | €2,873 | +€1,662 | +137% |
| Taxes, remuneration and social security | 45 | €879 | €879 | = | 0.0% |
| Taxes | 450/3 | €879 | €879 | = | 0.0% |
| Other amounts payable | 47/48 | €1,708 | €9,620 | +€7,912 | +463% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €930 | €2,901 | +€1,971 | +212% |
| Other operating charges | 640/8 | €694 | €525 | -€169 | -24.3% |
| Gross operating margin | 9900 | €80,514 | €38,552 | -€41,962 | -52.1% |
| Operating profit (loss) | 9901 | €78,891 | €35,127 | -€43,764 | -55.5% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,259 | €1,215 | -€44 | -3.5% |
| Recurring financial charges | 65 | €1,259 | €1,215 | -€44 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €77,632 | €33,913 | -€43,719 | -56.3% |
| Income taxes | 67/77 | €25,879 | €12,802 | -€13,077 | -50.5% |
| Profit (loss) for the period | 9904 | €51,753 | €21,111 | -€30,642 | -59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €51,753 | €21,111 | -€30,642 | -59.2% |
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 15 October 2026 via checked.be.