PIÈCE MONTÉE: 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.
PIÈCE MONTÉE
Largest movements
- Receivables within one year +€61,423
up €61,423 (+83.5%), from €73,520 to €134,943
of which Trade receivables: +€42,411
- Cash -€54,556
down €54,556 (-22.9%), from €238,240 to €183,684
mainly Net result for the year (-€161,905) and Receivables within one year (-€61,423)
- Tangible fixed assets -€27,319
down €27,319 (-7.0%), from €391,511 to €364,192
of which Furniture and vehicles: -€18,113
- Reserves -€160,813
down €160,813 (-45.1%), from €356,927 to €196,115
of which Distributable reserves: -€160,813
- Trade debts +€117,613
up €117,613 (+287%), from €40,914 to €158,527
- Short-term financial debts +€60,000
new in 2025: €60,000
- Advances received +€30,000
new in 2025: €30,000
- Debts after one year -€28,255
down €28,255 (-21.3%), from €132,508 to €104,253
- Gross operating margin -€205,115
down €205,115, from €182,646 to -€22,469
- Taxes -€13,003
down €13,003 (-97.4%), from €13,352 to €348
- Staff costs +€5,369
up €5,369 (+6.2%), from €86,768 to €92,137
- Other operating charges +€2,397
up €2,397 (+86.5%), from €2,770 to €5,167
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 | €741,495 | €716,464 | -€25,031 | -3.4% |
| Fixed assets | 21/28 | €423,465 | €390,905 | -€32,560 | -7.7% |
| Intangible fixed assets | 21 | €31,954 | €26,714 | -€5,241 | -16.4% |
| Tangible fixed assets | 22/27 | €391,511 | €364,192 | -€27,319 | -7.0% |
| Land and buildings | 22 | €343,299 | €334,093 | -€9,206 | -2.7% |
| Furniture and vehicles | 24 | €48,212 | €30,099 | -€18,113 | -37.6% |
| Current assets | 29/58 | €318,030 | €325,558 | +€7,528 | +2.4% |
| Amounts receivable within one year | 40/41 | €73,520 | €134,943 | +€61,423 | +83.5% |
| Trade receivables | 40 | €69,665 | €112,076 | +€42,411 | +60.9% |
| Other amounts receivable | 41 | €3,855 | €22,867 | +€19,012 | +493% |
| Cash at bank and in hand | 54/58 | €238,240 | €183,684 | -€54,556 | -22.9% |
| Deferred charges and accrued income | 490/1 | €6,270 | €6,931 | +€661 | +10.5% |
| Total equity and liabilities | 10/49 | €741,495 | €716,464 | -€25,031 | -3.4% |
| Equity | 10/15 | €481,927 | €320,022 | -€161,905 | -33.6% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €356,927 | €196,115 | -€160,813 | -45.1% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €325,677 | €164,865 | -€160,813 | -49.4% |
| Profit (loss) carried forward | 14 | - | -€1,092 | -€1,092 | |
| Amounts payable | 17/49 | €259,568 | €396,441 | +€136,874 | +52.7% |
| Amounts payable after more than one year | 17 | €132,508 | €104,253 | -€28,255 | -21.3% |
| Financial debts | 170/4 | €132,508 | €104,253 | -€28,255 | -21.3% |
| Amounts payable within one year | 42/48 | €127,060 | €292,189 | +€165,129 | +130% |
| Current portion of amounts payable after more than one year | 42 | €31,852 | €28,255 | -€3,597 | -11.3% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Credit institutions | 430/8 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €40,914 | €158,527 | +€117,613 | +287% |
| Suppliers | 440/4 | €40,914 | €158,527 | +€117,613 | +287% |
| Advances received on contracts in progress | 46 | - | €30,000 | +€30,000 | |
| Taxes, remuneration and social security | 45 | €32,640 | €12,899 | -€19,741 | -60.5% |
| Taxes | 450/3 | €17,289 | €4,283 | -€13,006 | -75.2% |
| Remuneration and social security | 454/9 | €15,352 | €8,616 | -€6,735 | -43.9% |
| Other amounts payable | 47/48 | €21,653 | €2,508 | -€19,146 | -88.4% |
| Non-recurring operating income | 76A | €10,305 | - | -€10,305 | |
| Remuneration, social security and pensions | 62 | €86,768 | €92,137 | +€5,369 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,437 | €38,780 | +€1,343 | +3.6% |
| Other operating charges | 640/8 | €2,770 | €5,167 | +€2,397 | +86.5% |
| Non-recurring operating charges | 66A | €250 | - | -€250 | |
| Gross operating margin | 9900 | €182,646 | -€22,469 | -€205,115 | |
| Operating profit (loss) | 9901 | €55,420 | -€158,554 | -€213,974 | |
| Financial income | 75/76B | €962 | €473 | -€489 | -50.8% |
| Recurring financial income | 75 | €962 | €473 | -€489 | -50.8% |
| Financial charges | 65/66B | €4,829 | €3,476 | -€1,353 | -28.0% |
| Recurring financial charges | 65 | €4,829 | €3,476 | -€1,353 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €51,553 | -€161,557 | -€213,109 | |
| Income taxes | 67/77 | €13,352 | €348 | -€13,003 | -97.4% |
| Profit (loss) for the period | 9904 | €38,201 | -€161,905 | -€200,106 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,201 | -€161,905 | -€200,106 |
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 20 October 2026 via checked.be.