PIERLOOT GLENN: 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.
PIERLOOT GLENN
Largest movements
- Cash -€31,758
down €31,758 (-15.4%), from €205,994 to €174,236
mainly Net result for the year (-€35,160) and Tax, wage and social debts (-€11,766)
- Receivables within one year -€16,644
down €16,644 (-61.3%), from €27,159 to €10,514
of which Trade receivables: -€17,237
- Tangible fixed assets -€9,088
down €9,088 (-12.6%), from €72,276 to €63,188
of which Land and buildings: -€6,000
- Profit (loss) carried forward -€30,645
down €30,645, from €0 to -€30,645
- Other debts +€12,272
up €12,272 (+21.3%), from €57,677 to €69,950
- Tax, wage and social debts -€11,766
down €11,766 (-29.8%), from €39,429 to €27,662
of which Taxes: -€11,766
- Current portion of long-term debt -€9,695
down €9,695 (-74.7%), from €12,978 to €3,283
- Debts after one year -€9,339
down €9,339 (-10.3%), from €90,701 to €81,362
of which Other amounts payable: -€6,056
- Gross operating margin -€42,084
down €42,084, from €31,350 to -€10,734
- Taxes -€3,153
down €3,153 (-80.0%), from €3,941 to €788
- Financial charges -€1,498
down €1,498 (-18.5%), from €8,115 to €6,617
- Depreciation -€814
down €814 (-5.9%), from €13,739 to €12,925
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 | €308,181 | €250,960 | -€57,220 | -18.6% |
| Fixed assets | 21/28 | €72,276 | €63,188 | -€9,088 | -12.6% |
| Tangible fixed assets | 22/27 | €72,276 | €63,188 | -€9,088 | -12.6% |
| Land and buildings | 22 | €66,000 | €60,000 | -€6,000 | -9.1% |
| Plant, machinery and equipment | 23 | €2,406 | €17 | -€2,389 | -99.3% |
| Furniture and vehicles | 24 | €3,870 | €3,171 | -€699 | -18.1% |
| Current assets | 29/58 | €235,905 | €187,772 | -€48,132 | -20.4% |
| Amounts receivable within one year | 40/41 | €27,159 | €10,514 | -€16,644 | -61.3% |
| Trade receivables | 40 | €22,233 | €4,995 | -€17,237 | -77.5% |
| Other amounts receivable | 41 | €4,926 | €5,519 | +€593 | +12.0% |
| Current investments | 50/53 | €144 | €144 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €205,994 | €174,236 | -€31,758 | -15.4% |
| Deferred charges and accrued income | 490/1 | €2,608 | €2,878 | +€270 | +10.3% |
| Total equity and liabilities | 10/49 | €308,181 | €250,960 | -€57,220 | -18.6% |
| Equity | 10/15 | €93,869 | €58,710 | -€35,160 | -37.5% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €87,664 | €83,149 | -€4,515 | -5.1% |
| Tax-exempt reserves | 132 | €182 | €182 | = | 0.0% |
| Distributable reserves | 133 | €87,482 | €82,968 | -€4,515 | -5.2% |
| Profit (loss) carried forward | 14 | €0 | -€30,645 | -€30,645 | |
| Amounts payable | 17/49 | €214,311 | €192,251 | -€22,061 | -10.3% |
| Amounts payable after more than one year | 17 | €90,701 | €81,362 | -€9,339 | -10.3% |
| Financial debts | 170/4 | €3,283 | €0 | -€3,283 | -100% |
| Other amounts payable | 178/9 | €87,418 | €81,362 | -€6,056 | -6.9% |
| Amounts payable within one year | 42/48 | €115,326 | €103,736 | -€11,590 | -10.0% |
| Current portion of amounts payable after more than one year | 42 | €12,978 | €3,283 | -€9,695 | -74.7% |
| Trade debts | 44 | €5,241 | €2,841 | -€2,400 | -45.8% |
| Suppliers | 440/4 | €5,241 | €2,841 | -€2,400 | -45.8% |
| Taxes, remuneration and social security | 45 | €39,429 | €27,662 | -€11,766 | -29.8% |
| Taxes | 450/3 | €28,029 | €16,262 | -€11,766 | -42.0% |
| Remuneration and social security | 454/9 | €11,400 | €11,400 | = | 0.0% |
| Other amounts payable | 47/48 | €57,677 | €69,950 | +€12,272 | +21.3% |
| Accrued charges and deferred income | 492/3 | €8,285 | €7,153 | -€1,132 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,739 | €12,925 | -€814 | -5.9% |
| Other operating charges | 640/8 | €4,556 | €4,659 | +€103 | +2.3% |
| Gross operating margin | 9900 | €31,350 | -€10,734 | -€42,084 | |
| Operating profit (loss) | 9901 | €13,054 | -€28,319 | -€41,373 | |
| Financial income | 75/76B | €729 | €565 | -€164 | -22.5% |
| Recurring financial income | 75 | €729 | €565 | -€164 | -22.5% |
| Financial charges | 65/66B | €8,115 | €6,617 | -€1,498 | -18.5% |
| Recurring financial charges | 65 | €8,115 | €6,617 | -€1,498 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €5,667 | -€34,372 | -€40,039 | |
| Income taxes | 67/77 | €3,941 | €788 | -€3,153 | -80.0% |
| Profit (loss) for the period | 9904 | €1,726 | -€35,160 | -€36,886 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,726 | -€35,160 | -€36,886 |
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 1 November 2026 via checked.be.