PIERLIS: 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.
PIERLIS
Largest movements
- Tangible fixed assets +€20,557
up €20,557 (+9.1%), from €225,083 to €245,640
- Receivables within one year +€4,804
up €4,804 (+91.6%), from €5,247 to €10,051
- Other debts +€36,951
up €36,951 (+39.7%), from €92,998 to €129,949
- Debts after one year -€19,717
down €19,717 (-42.3%), from €46,656 to €26,939
- Short-term financial debts +€4,688
new in 2025: €4,688
- Gross operating margin -€14,526
down €14,526 (-34.6%), from €42,030 to €27,504
- Taxes -€4,304
down €4,304 (-81.7%), from €5,270 to €966
- Depreciation +€1,164
up €1,164 (+7.7%), from €15,185 to €16,349
- Financial charges -€1,123
down €1,123 (-24.4%), from €4,600 to €3,477
- Other operating charges -€819
down €819 (-14.5%), from €5,659 to €4,840
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 | €233,166 | €256,187 | +€23,021 | +9.9% |
| Fixed assets | 21/28 | €225,333 | €245,890 | +€20,557 | +9.1% |
| Tangible fixed assets | 22/27 | €225,083 | €245,640 | +€20,557 | +9.1% |
| Land and buildings | 22 | €225,083 | €245,640 | +€20,557 | +9.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €7,833 | €10,297 | +€2,464 | +31.5% |
| Amounts receivable within one year | 40/41 | €5,247 | €10,051 | +€4,804 | +91.6% |
| Other amounts receivable | 41 | €5,247 | €10,051 | +€4,804 | +91.6% |
| Cash at bank and in hand | 54/58 | €1,834 | - | -€1,834 | |
| Deferred charges and accrued income | 490/1 | €752 | €246 | -€506 | -67.3% |
| Total equity and liabilities | 10/49 | €233,166 | €256,187 | +€23,021 | +9.9% |
| Equity | 10/15 | €63,333 | €65,204 | +€1,871 | +3.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €57,135 | €59,006 | +€1,871 | +3.3% |
| Distributable reserves | 133 | €57,135 | €59,006 | +€1,871 | +3.3% |
| Amounts payable | 17/49 | €169,833 | €190,983 | +€21,150 | +12.5% |
| Amounts payable after more than one year | 17 | €46,656 | €26,939 | -€19,717 | -42.3% |
| Financial debts | 170/4 | €46,656 | €26,939 | -€19,717 | -42.3% |
| Amounts payable within one year | 42/48 | €122,777 | €163,644 | +€40,867 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €23,601 | €22,717 | -€884 | -3.7% |
| Financial debts | 43 | - | €4,688 | +€4,688 | |
| Credit institutions | 430/8 | - | €4,688 | +€4,688 | |
| Trade debts | 44 | €6,178 | €6,175 | -€3 | -0.1% |
| Suppliers | 440/4 | €6,178 | €6,175 | -€3 | -0.1% |
| Taxes, remuneration and social security | 45 | - | €115 | +€115 | |
| Taxes | 450/3 | - | €115 | +€115 | |
| Other amounts payable | 47/48 | €92,998 | €129,949 | +€36,951 | +39.7% |
| Accrued charges and deferred income | 492/3 | €400 | €400 | -€0 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,185 | €16,349 | +€1,164 | +7.7% |
| Other operating charges | 640/8 | €5,659 | €4,840 | -€819 | -14.5% |
| Gross operating margin | 9900 | €42,030 | €27,504 | -€14,526 | -34.6% |
| Operating profit (loss) | 9901 | €21,186 | €6,315 | -€14,872 | -70.2% |
| Financial charges | 65/66B | €4,600 | €3,477 | -€1,123 | -24.4% |
| Recurring financial charges | 65 | €4,600 | €3,477 | -€1,123 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €16,586 | €2,837 | -€13,749 | -82.9% |
| Income taxes | 67/77 | €5,270 | €966 | -€4,304 | -81.7% |
| Profit (loss) for the period | 9904 | €11,316 | €1,871 | -€9,445 | -83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,316 | €1,871 | -€9,445 | -83.5% |
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 6 October 2026 via checked.be.