PIAR: 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.
PIAR
Largest movements
- Receivables within one year -€16,007
down €16,007 (-99.8%), from €16,038 to €31
of which Trade receivables: -€16,033
- Cash +€12,799
up €12,799 (+9.4%), from €135,906 to €148,705
mainly Net result for the year (+€100,007) and Other debts (+€96,218)
- Other debts +€96,218
up €96,218 (+2,540%), from €3,788 to €100,007
- Reserves -€78,994
down €78,994 (-65.9%), from €119,786 to €40,792
- Tax, wage and social debts -€22,666
down €22,666 (-67.4%), from €33,612 to €10,946
- Trade debts +€2,704
new in 2025: €2,704
- Gross operating margin +€40,167
up €40,167 (+43.7%), from €91,975 to €132,143
- Taxes +€5,581
up €5,581 (+24.3%), from €23,012 to €28,594
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 | €157,687 | €154,950 | -€2,737 | -1.7% |
| Fixed assets | 21/28 | €5,742 | €6,213 | +€471 | +8.2% |
| Tangible fixed assets | 22/27 | €5,742 | €6,213 | +€471 | +8.2% |
| Land and buildings | 22 | - | €3,776 | +€3,776 | |
| Furniture and vehicles | 24 | €5,742 | €2,438 | -€3,304 | -57.5% |
| Current assets | 29/58 | €151,944 | €148,736 | -€3,208 | -2.1% |
| Amounts receivable within one year | 40/41 | €16,038 | €31 | -€16,007 | -99.8% |
| Trade receivables | 40 | €16,033 | - | -€16,033 | |
| Other amounts receivable | 41 | €6 | €31 | +€26 | +441% |
| Cash at bank and in hand | 54/58 | €135,906 | €148,705 | +€12,799 | +9.4% |
| Total equity and liabilities | 10/49 | €157,687 | €154,950 | -€2,737 | -1.7% |
| Equity | 10/15 | €120,286 | €41,292 | -€78,994 | -65.7% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €119,786 | €40,792 | -€78,994 | -65.9% |
| Distributable reserves | 133 | €119,786 | €40,792 | -€78,994 | -65.9% |
| Amounts payable | 17/49 | €37,400 | €113,658 | +€76,257 | +204% |
| Amounts payable within one year | 42/48 | €37,400 | €113,658 | +€76,257 | +204% |
| Trade debts | 44 | - | €2,704 | +€2,704 | |
| Suppliers | 440/4 | - | €2,704 | +€2,704 | |
| Taxes, remuneration and social security | 45 | €33,612 | €10,946 | -€22,666 | -67.4% |
| Taxes | 450/3 | €33,612 | €10,946 | -€22,666 | -67.4% |
| Other amounts payable | 47/48 | €3,788 | €100,007 | +€96,218 | +2,540% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,690 | €3,359 | +€669 | +24.9% |
| Other operating charges | 640/8 | €116 | - | -€116 | |
| Gross operating margin | 9900 | €91,975 | €132,143 | +€40,167 | +43.7% |
| Operating profit (loss) | 9901 | €89,169 | €128,784 | +€39,615 | +44.4% |
| Financial income | 75/76B | €17 | - | -€17 | |
| Recurring financial income | 75 | €17 | - | -€17 | |
| Financial charges | 65/66B | €219 | €183 | -€35 | -16.2% |
| Recurring financial charges | 65 | €219 | €183 | -€35 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €88,967 | €128,600 | +€39,634 | +44.5% |
| Income taxes | 67/77 | €23,012 | €28,594 | +€5,581 | +24.3% |
| Profit (loss) for the period | 9904 | €65,955 | €100,007 | +€34,052 | +51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €65,955 | €100,007 | +€34,052 | +51.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.