PIERRE-BAKER: 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.
PIERRE-BAKER
Largest movements
- Cash -€136,810
down €136,810 (-76.2%), from €179,431 to €42,622
mainly Contributions, distributions and other (-€326,471)
- Receivables within one year -€19,057
down €19,057 (-36.1%), from €52,823 to €33,766
of which Trade receivables: -€22,607
- Profit (loss) carried forward -€203,615
down €203,615 (-94.2%), from €216,092 to €12,477
- Other debts +€47,029
up €47,029 (+2675.0%), from €1,758 to €48,787
- Gross operating margin -€27,857
down €27,857 (-14.8%), from €187,962 to €160,105
- Taxes -€7,013
down €7,013 (-16.6%), from €42,281 to €35,269
- Depreciation -€3,123
down €3,123 (-85.8%), from €3,639 to €515
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 | €233,536 | €77,047 | -€156,488 | -67.0% |
| Fixed assets | 21/28 | €1,175 | €659 | -€515 | -43.9% |
| Tangible fixed assets | 22/27 | €1,175 | €659 | -€515 | -43.9% |
| Furniture and vehicles | 24 | €1,175 | €659 | -€515 | -43.9% |
| Current assets | 29/58 | €232,361 | €76,388 | -€155,973 | -67.1% |
| Amounts receivable within one year | 40/41 | €52,823 | €33,766 | -€19,057 | -36.1% |
| Trade receivables | 40 | €49,423 | €26,816 | -€22,607 | -45.7% |
| Other amounts receivable | 41 | €3,400 | €6,950 | +€3,550 | +104.4% |
| Cash at bank and in hand | 54/58 | €179,431 | €42,622 | -€136,810 | -76.2% |
| Deferred charges and accrued income | 490/1 | €106 | €0 | -€106 | -100.0% |
| Total equity and liabilities | 10/49 | €233,536 | €77,047 | -€156,488 | -67.0% |
| Equity | 10/15 | €218,092 | €14,477 | -€203,615 | -93.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €216,092 | €12,477 | -€203,615 | -94.2% |
| Amounts payable | 17/49 | €15,444 | €62,571 | +€47,127 | +305.1% |
| Amounts payable within one year | 42/48 | €15,444 | €62,571 | +€47,127 | +305.1% |
| Trade debts | 44 | €1,699 | €1,266 | -€433 | -25.5% |
| Suppliers | 440/4 | €1,699 | €1,266 | -€433 | -25.5% |
| Taxes, remuneration and social security | 45 | €11,987 | €12,518 | +€531 | +4.4% |
| Taxes | 450/3 | €11,987 | €12,518 | +€531 | +4.4% |
| Other amounts payable | 47/48 | €1,758 | €48,787 | +€47,029 | +2675.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,639 | €515 | -€3,123 | -85.8% |
| Other operating charges | 640/8 | €259 | €1,228 | +€969 | +373.6% |
| Gross operating margin | 9900 | €187,962 | €160,105 | -€27,857 | -14.8% |
| Operating profit (loss) | 9901 | €184,064 | €158,361 | -€25,703 | -14.0% |
| Financial charges | 65/66B | €170 | €236 | +€66 | +39.0% |
| Recurring financial charges | 65 | €170 | €236 | +€66 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | €183,894 | €158,125 | -€25,769 | -14.0% |
| Income taxes | 67/77 | €42,281 | €35,269 | -€7,013 | -16.6% |
| Profit (loss) for the period | 9904 | €141,612 | €122,856 | -€18,757 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €141,612 | €122,856 | -€18,757 | -13.2% |
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 9 October 2026 via checked.be.