PIERINO-IJS: 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.
PIERINO-IJS
Largest movements
- Tangible fixed assets -€20,698
down €20,698 (-3.8%), from €542,154 to €521,456
of which Land and buildings: -€19,323
- Cash +€19,017
up €19,017 (+111%), from €17,138 to €36,155
mainly Net result for the year (+€81,062) and Trade debts (+€29,570)
- Reserves +€81,061
up €81,061 (+27.8%), from €291,893 to €372,954
- Other debts -€69,196
down €69,196 (-73.1%), from €94,636 to €25,440
- Debts after one year -€39,040
down €39,040 (-30.1%), from €129,497 to €90,457
- Trade debts +€29,570
up €29,570 (+208%), from €14,209 to €43,779
- Current portion of long-term debt -€9,337
down €9,337 (-19.8%), from €47,156 to €37,819
- Gross operating margin +€26,310
up €26,310 (+27.6%), from €95,357 to €121,667
- Taxes -€12,686
no longer reported in 2025 (was €12,686)
- Financial charges -€1,754
down €1,754 (-17.8%), from €9,849 to €8,095
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 | €607,391 | €600,449 | -€6,942 | -1.1% |
| Fixed assets | 21/28 | €542,154 | €521,456 | -€20,698 | -3.8% |
| Tangible fixed assets | 22/27 | €542,154 | €521,456 | -€20,698 | -3.8% |
| Land and buildings | 22 | €530,450 | €511,127 | -€19,323 | -3.6% |
| Plant, machinery and equipment | 23 | €10,054 | €7,984 | -€2,070 | -20.6% |
| Furniture and vehicles | 24 | €1,650 | €2,345 | +€695 | +42.1% |
| Current assets | 29/58 | €65,237 | €78,993 | +€13,756 | +21.1% |
| Amounts receivable within one year | 40/41 | €48,099 | €42,838 | -€5,261 | -10.9% |
| Trade receivables | 40 | €7,203 | €1,042 | -€6,161 | -85.5% |
| Other amounts receivable | 41 | €40,896 | €41,796 | +€900 | +2.2% |
| Cash at bank and in hand | 54/58 | €17,138 | €36,155 | +€19,017 | +111% |
| Total equity and liabilities | 10/49 | €607,391 | €600,449 | -€6,942 | -1.1% |
| Equity | 10/15 | €321,893 | €402,954 | +€81,061 | +25.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €291,893 | €372,954 | +€81,061 | +27.8% |
| Distributable reserves | 133 | €291,893 | €372,954 | +€81,061 | +27.8% |
| Amounts payable | 17/49 | €285,498 | €197,495 | -€88,003 | -30.8% |
| Amounts payable after more than one year | 17 | €129,497 | €90,457 | -€39,040 | -30.1% |
| Financial debts | 170/4 | €129,497 | €90,457 | -€39,040 | -30.1% |
| Amounts payable within one year | 42/48 | €156,001 | €107,038 | -€48,963 | -31.4% |
| Current portion of amounts payable after more than one year | 42 | €47,156 | €37,819 | -€9,337 | -19.8% |
| Trade debts | 44 | €14,209 | €43,779 | +€29,570 | +208% |
| Suppliers | 440/4 | €14,209 | €43,779 | +€29,570 | +208% |
| Other amounts payable | 47/48 | €94,636 | €25,440 | -€69,196 | -73.1% |
| Remuneration, social security and pensions | 62 | €0 | €376 | +€376 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,968 | €22,857 | -€111 | -0.5% |
| Other operating charges | 640/8 | €9,008 | €9,278 | +€270 | +3.0% |
| Gross operating margin | 9900 | €95,357 | €121,667 | +€26,310 | +27.6% |
| Operating profit (loss) | 9901 | €63,381 | €89,156 | +€25,775 | +40.7% |
| Financial income | 75/76B | €3 | €1 | -€2 | -66.7% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -66.7% |
| Financial charges | 65/66B | €9,849 | €8,095 | -€1,754 | -17.8% |
| Recurring financial charges | 65 | €9,849 | €8,095 | -€1,754 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €53,535 | €81,062 | +€27,527 | +51.4% |
| Income taxes | 67/77 | €12,686 | - | -€12,686 | |
| Profit (loss) for the period | 9904 | €40,849 | €81,062 | +€40,213 | +98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €40,849 | €81,062 | +€40,213 | +98.4% |
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 27 October 2026 via checked.be.