PIER: 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.
PIER
Largest movements
- Receivables within one year +€15,059
up €15,059 (+342.9%), from €4,391 to €19,450
of which Trade receivables: +€13,063
- Cash +€12,680
up €12,680 (+32.0%), from €39,605 to €52,285
mainly Accrued charges and deferred income (+€19,456) and Depreciation (+€8,269)
- Tangible fixed assets -€11,367
down €11,367 (-43.8%), from €25,977 to €14,610
of which Plant, machinery and equipment: -€9,328
- Accrued charges and deferred income +€19,456
up €19,456 (+2060.3%), from €944 to €20,400
- Other debts -€4,728
down €4,728 (-24.6%), from €19,238 to €14,509
- Reserves -€3,374
down €3,374 (-4.4%), from €77,279 to €73,905
- Advances received +€3,260
up €3,260 (+1767.6%), from €184 to €3,445
- Tax, wage and social debts +€1,371
up €1,371 (+27.0%), from €5,076 to €6,447
- Gross operating margin +€38,930
up €38,930, from -€30,539 to €8,391
- Taxes -€5,540
down €5,540, from €668 to -€4,872
- Other operating charges +€1,678
up €1,678 (+112.3%), from €1,494 to €3,172
- Financial charges +€1,543
up €1,543 (+250.4%), from €616 to €2,160
of which Non-recurring financial charges: +€1,718
- Depreciation -€587
down €587 (-6.6%), from €8,856 to €8,269
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 | €75,927 | €92,439 | +€16,512 | +21.7% |
| Fixed assets | 21/28 | €25,977 | €14,610 | -€11,367 | -43.8% |
| Tangible fixed assets | 22/27 | €25,977 | €14,610 | -€11,367 | -43.8% |
| Plant, machinery and equipment | 23 | €17,096 | €7,768 | -€9,328 | -54.6% |
| Furniture and vehicles | 24 | €2,039 | - | -€2,039 | |
| Other tangible fixed assets | 26 | €6,842 | €6,842 | = | 0.0% |
| Current assets | 29/58 | €49,949 | €77,828 | +€27,879 | +55.8% |
| Stocks and contracts in progress | 3 | €4,195 | €4,195 | = | 0.0% |
| Stocks | 30/36 | €4,195 | €4,195 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,391 | €19,450 | +€15,059 | +342.9% |
| Trade receivables | 40 | €1,514 | €14,578 | +€13,063 | +862.6% |
| Other amounts receivable | 41 | €2,877 | €4,872 | +€1,995 | +69.4% |
| Cash at bank and in hand | 54/58 | €39,605 | €52,285 | +€12,680 | +32.0% |
| Deferred charges and accrued income | 490/1 | €1,759 | €1,899 | +€140 | +8.0% |
| Total equity and liabilities | 10/49 | €75,927 | €92,439 | +€16,512 | +21.7% |
| Equity | 10/15 | €45,421 | €42,047 | -€3,374 | -7.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €77,279 | €73,905 | -€3,374 | -4.4% |
| Distributable reserves | 133 | €77,279 | €73,905 | -€3,374 | -4.4% |
| Profit (loss) carried forward | 14 | -€44,258 | -€44,258 | = | 0.0% |
| Amounts payable | 17/49 | €30,506 | €50,392 | +€19,886 | +65.2% |
| Amounts payable within one year | 42/48 | €29,562 | €29,992 | +€430 | +1.5% |
| Trade debts | 44 | €5,064 | €5,591 | +€527 | +10.4% |
| Suppliers | 440/4 | €5,064 | €5,591 | +€527 | +10.4% |
| Advances received on contracts in progress | 46 | €184 | €3,445 | +€3,260 | +1767.6% |
| Taxes, remuneration and social security | 45 | €5,076 | €6,447 | +€1,371 | +27.0% |
| Taxes | 450/3 | €5,076 | €6,447 | +€1,371 | +27.0% |
| Other amounts payable | 47/48 | €19,238 | €14,509 | -€4,728 | -24.6% |
| Accrued charges and deferred income | 492/3 | €944 | €20,400 | +€19,456 | +2060.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,856 | €8,269 | -€587 | -6.6% |
| Other operating charges | 640/8 | €1,494 | €3,172 | +€1,678 | +112.3% |
| Non-recurring operating charges | 66A | - | €3,036 | +€3,036 | |
| Gross operating margin | 9900 | -€30,539 | €8,391 | +€38,930 | |
| Operating profit (loss) | 9901 | -€40,889 | -€6,086 | +€34,802 | +85.1% |
| Financial income | 75/76B | €12 | - | -€12 | |
| Recurring financial income | 75 | €12 | - | -€12 | |
| Financial charges | 65/66B | €616 | €2,160 | +€1,543 | +250.4% |
| Recurring financial charges | 65 | €616 | €442 | -€175 | -28.3% |
| Non-recurring financial charges | 66B | - | €1,718 | +€1,718 | |
| Profit (loss) for the period before taxes | 9903 | -€41,493 | -€8,246 | +€33,247 | +80.1% |
| Income taxes | 67/77 | €668 | -€4,872 | -€5,540 | |
| Profit (loss) for the period | 9904 | -€42,160 | -€3,374 | +€38,786 | +92.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,160 | -€3,374 | +€38,786 | +92.0% |
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 11 October 2026 via checked.be.