PIBAR: what changed
Two fiscal 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.
PIBAR
Largest movements
- Cash +€27,731
up €27,731 (+423.3%), from €6,552 to €34,283
mainly Net result for the year (+€29,155) and Receivables within one year (+€20,418)
- Receivables within one year -€20,418
down €20,418 (-22.8%), from €89,633 to €69,215
of which Trade receivables: -€20,420
- Tangible fixed assets -€1,642
down €1,642 (-26.5%), from €6,193 to €4,551
of which Plant, machinery and equipment: -€870
- Profit (loss) carried forward +€29,155
up €29,155 (+48.6%), from €60,005 to €89,160
- Trade debts -€21,716
down €21,716 (-85.7%), from €25,338 to €3,621
- Tax, wage and social debts -€11,178
down €11,178 (-79.1%), from €14,132 to €2,954
- Other debts +€9,484
up €9,484 (+304.9%), from €3,110 to €12,594
- Gross operating margin +€4,954
up €4,954 (+14.2%), from €34,912 to €39,866
- Taxes +€909
up €909 (+14.2%), from €6,380 to €7,289
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.
Cash bridge derived
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 | €105,085 | €110,830 | +€5,745 | +5.5% |
| Formation expenses | 20 | €826 | €598 | -€228 | -27.6% |
| Fixed assets | 21/28 | €6,193 | €4,551 | -€1,642 | -26.5% |
| Tangible fixed assets | 22/27 | €6,193 | €4,551 | -€1,642 | -26.5% |
| Plant, machinery and equipment | 23 | €3,187 | €2,317 | -€870 | -27.3% |
| Other tangible fixed assets | 26 | €3,005 | €2,233 | -€772 | -25.7% |
| Current assets | 29/58 | €98,066 | €105,681 | +€7,615 | +7.8% |
| Stocks and contracts in progress | 3 | €1,733 | €2,183 | +€450 | +26.0% |
| Stocks | 30/36 | €1,733 | €2,183 | +€450 | +26.0% |
| Amounts receivable within one year | 40/41 | €89,633 | €69,215 | -€20,418 | -22.8% |
| Trade receivables | 40 | €88,811 | €68,391 | -€20,420 | -23.0% |
| Other amounts receivable | 41 | €822 | €824 | +€3 | +0.3% |
| Cash at bank and in hand | 54/58 | €6,552 | €34,283 | +€27,731 | +423.3% |
| Deferred charges and accrued income | 490/1 | €148 | €0 | -€148 | -100.0% |
| Total equity and liabilities | 10/49 | €105,085 | €110,830 | +€5,745 | +5.5% |
| Equity | 10/15 | €62,505 | €91,660 | +€29,155 | +46.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,005 | €89,160 | +€29,155 | +48.6% |
| Amounts payable | 17/49 | €42,580 | €19,170 | -€23,410 | -55.0% |
| Amounts payable within one year | 42/48 | €42,580 | €19,170 | -€23,410 | -55.0% |
| Trade debts | 44 | €25,338 | €3,621 | -€21,716 | -85.7% |
| Suppliers | 440/4 | €25,338 | €3,621 | -€21,716 | -85.7% |
| Taxes, remuneration and social security | 45 | €14,132 | €2,954 | -€11,178 | -79.1% |
| Taxes | 450/3 | €14,132 | €2,954 | -€11,178 | -79.1% |
| Other amounts payable | 47/48 | €3,110 | €12,594 | +€9,484 | +304.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,870 | €1,870 | = | 0.0% |
| Other operating charges | 640/8 | €1,098 | €1,103 | +€4 | +0.4% |
| Gross operating margin | 9900 | €34,912 | €39,866 | +€4,954 | +14.2% |
| Operating profit (loss) | 9901 | €31,943 | €36,893 | +€4,950 | +15.5% |
| Financial charges | 65/66B | €78 | €449 | +€371 | +476.8% |
| Recurring financial charges | 65 | €78 | €449 | +€371 | +476.8% |
| Profit (loss) for the period before taxes | 9903 | €31,865 | €36,444 | +€4,579 | +14.4% |
| Income taxes | 67/77 | €6,380 | €7,289 | +€909 | +14.2% |
| Profit (loss) for the period | 9904 | €25,485 | €29,155 | +€3,670 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,485 | €29,155 | +€3,670 | +14.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.