PIELSA BENELUX: what changed
PIELSA BENELUX
Largest movements
- Cash -€10,052
down €10,052 (-21.7%), from €46,291 to €36,239
mainly Other debts (-€6,391) and Stocks and contracts (-€6,315)
- Tangible fixed assets -€7,377
down €7,377 (-28.8%), from €25,619 to €18,242
of which Furniture and vehicles: -€7,008
- Stocks and contracts +€6,315
up €6,315 (+8.7%), from €72,477 to €78,793
- Intangible fixed assets -€3,571
down €3,571 (-100%), from €3,571 to €0
- Deferred charges and accrued income +€1,734
up €1,734 (+132%), from €1,309 to €3,043
- Other debts -€6,391
down €6,391 (-38.6%), from €16,557 to €10,166
- Accrued charges and deferred income -€5,749
down €5,749 (-99.3%), from €5,787 to €39
- Reserves +€3,399
up €3,399 (+4.3%), from €78,386 to €81,785
- Tax, wage and social debts -€3,365
down €3,365 (-11.6%), from €28,900 to €25,535
of which Taxes: -€3,599
- Trade debts -€3,207
down €3,207 (-81.1%), from €3,953 to €745
- Gross operating margin +€43,008
up €43,008 (+86.5%), from €49,720 to €92,728
- Write-downs +€34,458
up €34,458, from -€28,760 to €5,698
- Staff costs +€1,000
up €1,000 (+1.5%), from €64,843 to €65,843
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €149,813 | €136,862 | -€12,951 | -8.6% |
| Fixed assets | 21/28 | €29,735 | €18,787 | -€10,948 | -36.8% |
| Intangible fixed assets | 21 | €3,571 | €0 | -€3,571 | -100% |
| Tangible fixed assets | 22/27 | €25,619 | €18,242 | -€7,377 | -28.8% |
| Plant, machinery and equipment | 23 | €1,674 | €1,950 | +€276 | +16.5% |
| Furniture and vehicles | 24 | €19,933 | €12,925 | -€7,008 | -35.2% |
| Other tangible fixed assets | 26 | €4,012 | €3,367 | -€645 | -16.1% |
| Financial fixed assets | 28 | €545 | €545 | = | 0.0% |
| Current assets | 29/58 | €120,077 | €118,075 | -€2,003 | -1.7% |
| Stocks and contracts in progress | 3 | €72,477 | €78,793 | +€6,315 | +8.7% |
| Stocks | 30/36 | €72,477 | €78,793 | +€6,315 | +8.7% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €46,291 | €36,239 | -€10,052 | -21.7% |
| Deferred charges and accrued income | 490/1 | €1,309 | €3,043 | +€1,734 | +132% |
| Total equity and liabilities | 10/49 | €149,813 | €136,862 | -€12,951 | -8.6% |
| Equity | 10/15 | €94,616 | €100,377 | +€5,761 | +6.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €78,386 | €81,785 | +€3,399 | +4.3% |
| Distributable reserves | 133 | €78,386 | €81,785 | +€3,399 | +4.3% |
| Profit (loss) carried forward | 14 | -€2,363 | €0 | +€2,363 | |
| Amounts payable | 17/49 | €55,197 | €36,485 | -€18,712 | -33.9% |
| Amounts payable within one year | 42/48 | €49,410 | €36,446 | -€12,963 | -26.2% |
| Trade debts | 44 | €3,953 | €745 | -€3,207 | -81.1% |
| Suppliers | 440/4 | €3,953 | €745 | -€3,207 | -81.1% |
| Taxes, remuneration and social security | 45 | €28,900 | €25,535 | -€3,365 | -11.6% |
| Taxes | 450/3 | €21,093 | €17,494 | -€3,599 | -17.1% |
| Remuneration and social security | 454/9 | €7,807 | €8,040 | +€234 | +3.0% |
| Other amounts payable | 47/48 | €16,557 | €10,166 | -€6,391 | -38.6% |
| Accrued charges and deferred income | 492/3 | €5,787 | €39 | -€5,749 | -99.3% |
| Remuneration, social security and pensions | 62 | €64,843 | €65,843 | +€1,000 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,787 | €11,771 | -€16 | -0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€28,760 | €5,698 | +€34,458 | |
| Other operating charges | 640/8 | €6,811 | €6,832 | +€21 | +0.3% |
| Gross operating margin | 9900 | €49,720 | €92,728 | +€43,008 | +86.5% |
| Operating profit (loss) | 9901 | -€4,961 | €2,584 | +€7,545 | |
| Financial income | 75/76B | €5,280 | €5,127 | -€154 | -2.9% |
| Recurring financial income | 75 | €5,280 | €5,127 | -€154 | -2.9% |
| Financial charges | 65/66B | €2,304 | €1,579 | -€725 | -31.5% |
| Recurring financial charges | 65 | €2,304 | €1,579 | -€725 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,984 | €6,133 | +€8,117 | |
| Income taxes | 67/77 | €379 | €371 | -€8 | -2.0% |
| Profit (loss) for the period | 9904 | -€2,363 | €5,761 | +€8,124 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,363 | €5,761 | +€8,124 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.