PIER 8: 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.
PIER 8
Largest movements
- Receivables within one year -€933,295
down €933,295 (-100.0%), from €933,295 to €0
of which Other amounts receivable: -€933,295
- Tangible fixed assets +€842,301
up €842,301 (+55.3%), from €1.5m to €2.4m
of which Land and buildings: +€970,218
- Financial fixed assets +€714,114
up €714,114 (+65.7%), from €1.1m to €1.8m
- Debts after one year +€603,324
up €603,324 (+48.8%), from €1.2m to €1.8m
- Reserves -€206,139
down €206,139 (-18.3%), from €1.1m to €919,994
- Other debts +€149,284
up €149,284 (+16.7%), from €895,481 to €1.0m
- Current portion of long-term debt +€55,836
up €55,836 (+47.1%), from €118,590 to €174,427
- Depreciation +€119,182
up €119,182 (+271.7%), from €43,861 to €163,042
- Taxes -€52,242
down €52,242 (-55.2%), from €94,636 to €42,394
- Gross operating margin -€45,616
down €45,616 (-12.3%), from €370,081 to €324,465
- Financial income +€31,353
new in 2025: €31,353
- Financial charges +€18,080
up €18,080 (+54.2%), from €33,329 to €51,408
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 | €3,630,344 | €4,246,227 | +€615,882 | +17.0% |
| Fixed assets | 21/28 | €2,610,773 | €4,167,188 | +€1.6m | +59.6% |
| Tangible fixed assets | 22/27 | €1,523,319 | €2,365,620 | +€842,301 | +55.3% |
| Land and buildings | 22 | €1,387,500 | €2,357,718 | +€970,218 | +69.9% |
| Plant, machinery and equipment | 23 | €3,157 | €2,552 | -€605 | -19.2% |
| Furniture and vehicles | 24 | €3,501 | €5,350 | +€1,849 | +52.8% |
| Assets under construction and advance payments | 27 | €129,161 | €0 | -€129,161 | -100.0% |
| Financial fixed assets | 28 | €1,087,454 | €1,801,568 | +€714,114 | +65.7% |
| Current assets | 29/58 | €1,019,571 | €79,039 | -€940,533 | -92.2% |
| Amounts receivable within one year | 40/41 | €933,295 | €0 | -€933,295 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €933,295 | €0 | -€933,295 | -100.0% |
| Cash at bank and in hand | 54/58 | €83,048 | €45,581 | -€37,467 | -45.1% |
| Deferred charges and accrued income | 490/1 | €3,228 | €33,458 | +€30,230 | +936.4% |
| Total equity and liabilities | 10/49 | €3,630,344 | €4,246,227 | +€615,882 | +17.0% |
| Equity | 10/15 | €1,139,633 | €933,494 | -€206,139 | -18.1% |
| Contributions | 10/11 | €13,500 | €13,500 | = | 0.0% |
| Reserves | 13 | €1,126,133 | €919,994 | -€206,139 | -18.3% |
| Distributable reserves | 133 | €1,126,133 | €919,994 | -€206,139 | -18.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €68,715 | €68,715 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €68,715 | €68,715 | = | 0.0% |
| Pensions and similar obligations | 160 | €68,715 | €68,715 | = | 0.0% |
| Amounts payable | 17/49 | €2,421,996 | €3,244,017 | +€822,021 | +33.9% |
| Amounts payable after more than one year | 17 | €1,235,069 | €1,838,393 | +€603,324 | +48.8% |
| Financial debts | 170/4 | €1,235,069 | €1,838,393 | +€603,324 | +48.8% |
| Amounts payable within one year | 42/48 | €1,174,776 | €1,388,347 | +€213,571 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €118,590 | €174,427 | +€55,836 | +47.1% |
| Trade debts | 44 | €2,101 | €14,033 | +€11,931 | +567.8% |
| Suppliers | 440/4 | €2,101 | €14,033 | +€11,931 | +567.8% |
| Taxes, remuneration and social security | 45 | €158,603 | €155,122 | -€3,481 | -2.2% |
| Taxes | 450/3 | €158,603 | €155,122 | -€3,481 | -2.2% |
| Other amounts payable | 47/48 | €895,481 | €1,044,765 | +€149,284 | +16.7% |
| Accrued charges and deferred income | 492/3 | €12,151 | €17,278 | +€5,126 | +42.2% |
| Non-recurring operating income | 76A | - | €453 | +€453 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,861 | €163,042 | +€119,182 | +271.7% |
| Other operating charges | 640/8 | €3,208 | €2,879 | -€330 | -10.3% |
| Gross operating margin | 9900 | €370,081 | €324,465 | -€45,616 | -12.3% |
| Operating profit (loss) | 9901 | €323,012 | €158,544 | -€164,468 | -50.9% |
| Financial income | 75/76B | - | €31,353 | +€31,353 | |
| Recurring financial income | 75 | - | €31,353 | +€31,353 | |
| Financial charges | 65/66B | €33,329 | €51,408 | +€18,080 | +54.2% |
| Recurring financial charges | 65 | €33,329 | €51,408 | +€18,080 | +54.2% |
| Profit (loss) for the period before taxes | 9903 | €289,683 | €138,489 | -€151,194 | -52.2% |
| Income taxes | 67/77 | €94,636 | €42,394 | -€52,242 | -55.2% |
| Profit (loss) for the period | 9904 | €195,047 | €96,095 | -€98,952 | -50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €195,047 | €96,095 | -€98,952 | -50.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.