PIERRE CLOSON: 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 CLOSON
Largest movements
- Tangible fixed assets -€9,292
down €9,292 (-4.8%), from €192,971 to €183,679
of which Land and buildings: -€9,201
- Debts after one year -€18,064
down €18,064 (-14.9%), from €121,063 to €102,999
- Other debts +€12,439
up €12,439 (+12.3%), from €101,477 to €113,915
- Profit (loss) carried forward -€10,273
down €10,273 (-6.8%), from -€150,404 to -€160,677
- Trade debts +€3,648
up €3,648 (+4.7%), from €78,125 to €81,773
- Current portion of long-term debt +€2,334
up €2,334 (+13.6%), from €17,195 to €19,529
- Gross operating margin +€8,320
up €8,320 (+1,052%), from €790 to €9,110
- Financial income -€455
down €455 (-100%), from €455 to €0
- Staff costs +€417
up €417, from -€417 to €0
- Other operating charges +€415
up €415 (+20.0%), from €2,071 to €2,486
- Financial charges -€305
down €305 (-3.9%), from €7,911 to €7,606
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 | €223,579 | €214,458 | -€9,121 | -4.1% |
| Fixed assets | 21/28 | €192,971 | €183,679 | -€9,292 | -4.8% |
| Tangible fixed assets | 22/27 | €192,971 | €183,679 | -€9,292 | -4.8% |
| Land and buildings | 22 | €192,878 | €183,678 | -€9,201 | -4.8% |
| Furniture and vehicles | 24 | €93 | €1 | -€92 | -98.9% |
| Current assets | 29/58 | €30,608 | €30,779 | +€171 | +0.6% |
| Amounts receivable within one year | 40/41 | €30,361 | €30,779 | +€418 | +1.4% |
| Trade receivables | 40 | €30,136 | €30,136 | = | 0.0% |
| Other amounts receivable | 41 | €224 | €643 | +€418 | +187% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €247 | €0 | -€247 | -100% |
| Total equity and liabilities | 10/49 | €223,579 | €214,458 | -€9,121 | -4.1% |
| Equity | 10/15 | -€111,944 | -€122,217 | -€10,273 | -9.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,860 | €19,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€150,404 | -€160,677 | -€10,273 | -6.8% |
| Amounts payable | 17/49 | €335,522 | €336,674 | +€1,152 | +0.3% |
| Amounts payable after more than one year | 17 | €121,063 | €102,999 | -€18,064 | -14.9% |
| Financial debts | 170/4 | €121,063 | €102,999 | -€18,064 | -14.9% |
| Amounts payable within one year | 42/48 | €214,459 | €233,171 | +€18,711 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €17,195 | €19,529 | +€2,334 | +13.6% |
| Financial debts | 43 | €6,938 | €7,094 | +€157 | +2.3% |
| Credit institutions | 430/8 | €6,938 | €7,094 | +€157 | +2.3% |
| Trade debts | 44 | €78,125 | €81,773 | +€3,648 | +4.7% |
| Suppliers | 440/4 | €78,125 | €81,773 | +€3,648 | +4.7% |
| Taxes, remuneration and social security | 45 | €10,726 | €10,859 | +€133 | +1.2% |
| Taxes | 450/3 | €10,726 | €10,859 | +€133 | +1.2% |
| Other amounts payable | 47/48 | €101,477 | €113,915 | +€12,439 | +12.3% |
| Accrued charges and deferred income | 492/3 | - | €504 | +€504 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | -€417 | €0 | +€417 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,563 | €9,292 | -€271 | -2.8% |
| Other operating charges | 640/8 | €2,071 | €2,486 | +€415 | +20.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €790 | €9,110 | +€8,320 | +1,052% |
| Operating profit (loss) | 9901 | -€10,427 | -€2,668 | +€7,760 | +74.4% |
| Financial income | 75/76B | €455 | €0 | -€455 | -100% |
| Recurring financial income | 75 | €455 | €0 | -€455 | -100% |
| Financial charges | 65/66B | €7,911 | €7,606 | -€305 | -3.9% |
| Recurring financial charges | 65 | €7,911 | €7,606 | -€305 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | -€17,884 | -€10,273 | +€7,610 | +42.6% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€17,884 | -€10,273 | +€7,610 | +42.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,884 | -€10,273 | +€7,610 | +42.6% |
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 28 October 2026 via checked.be.