Pier 39: 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 39
Largest movements
- Receivables within one year +€25,995
up €25,995 (+270%), from €9,628 to €35,623
of which Other amounts receivable: +€23,514
- Cash -€5,317
down €5,317 (-79.7%), from €6,668 to €1,352
mainly Other debts (-€36,015) and Receivables within one year (-€25,995)
- Profit (loss) carried forward +€139,107
up €139,107 (+81.5%), from -€170,632 to -€31,525
- Reserves -€83,995
down €83,995 (-73.6%), from €114,107 to €30,112
- Other debts -€36,015
down €36,015 (-80.3%), from €44,831 to €8,816
- Tax, wage and social debts +€5,221
up €5,221 (+129%), from €4,053 to €9,274
- Trade debts -€3,639
down €3,639 (-67.5%), from €5,388 to €1,749
- Gross operating margin +€21,300
up €21,300 (+56.5%), from €37,713 to €59,013
- Taxes +€2,912
up €2,912 (+880%), from €331 to €3,243
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 | €16,297 | €36,975 | +€20,678 | +127% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €16,297 | €36,975 | +€20,678 | +127% |
| Amounts receivable within one year | 40/41 | €9,628 | €35,623 | +€25,995 | +270% |
| Trade receivables | 40 | €5,953 | €8,434 | +€2,481 | +41.7% |
| Other amounts receivable | 41 | €3,675 | €27,189 | +€23,514 | +640% |
| Cash at bank and in hand | 54/58 | €6,668 | €1,352 | -€5,317 | -79.7% |
| Total equity and liabilities | 10/49 | €16,297 | €36,975 | +€20,678 | +127% |
| Equity | 10/15 | -€37,975 | €17,136 | +€55,112 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €114,107 | €30,112 | -€83,995 | -73.6% |
| Distributable reserves | 133 | €114,107 | €30,112 | -€83,995 | -73.6% |
| Profit (loss) carried forward | 14 | -€170,632 | -€31,525 | +€139,107 | +81.5% |
| Amounts payable | 17/49 | €54,272 | €19,839 | -€34,433 | -63.4% |
| Amounts payable within one year | 42/48 | €54,272 | €19,839 | -€34,433 | -63.4% |
| Trade debts | 44 | €5,388 | €1,749 | -€3,639 | -67.5% |
| Suppliers | 440/4 | €5,388 | €1,749 | -€3,639 | -67.5% |
| Taxes, remuneration and social security | 45 | €4,053 | €9,274 | +€5,221 | +129% |
| Taxes | 450/3 | €4,053 | €9,274 | +€5,221 | +129% |
| Other amounts payable | 47/48 | €44,831 | €8,816 | -€36,015 | -80.3% |
| Remuneration, social security and pensions | 62 | - | €322 | +€322 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €339 | €0 | -€339 | -100% |
| Other operating charges | 640/8 | €1,309 | €866 | -€443 | -33.9% |
| Gross operating margin | 9900 | €37,713 | €59,013 | +€21,300 | +56.5% |
| Operating profit (loss) | 9901 | €36,065 | €57,824 | +€21,760 | +60.3% |
| Financial income | 75/76B | €160 | €637 | +€477 | +299% |
| Recurring financial income | 75 | €160 | €637 | +€477 | +299% |
| Financial charges | 65/66B | €631 | €107 | -€524 | -83.0% |
| Recurring financial charges | 65 | €631 | €107 | -€524 | -83.0% |
| Profit (loss) for the period before taxes | 9903 | €35,593 | €58,354 | +€22,761 | +63.9% |
| Income taxes | 67/77 | €331 | €3,243 | +€2,912 | +880% |
| Profit (loss) for the period | 9904 | €35,263 | €55,112 | +€19,849 | +56.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,263 | €55,112 | +€19,849 | +56.3% |
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 19 October 2026 via checked.be.