PIERRE DE WINTER: 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 DE WINTER
Largest movements
- Current investments +€25,000
up €25,000 (+4.3%), from €575,594 to €600,594
- Tangible fixed assets -€21,002
down €21,002 (-8.7%), from €241,390 to €220,388
of which Furniture and vehicles: -€11,589
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€39,664
down €39,664 (-94.9%), from €41,781 to €2,117
- Financial income +€5,591
up €5,591 (+25.6%), from €21,841 to €27,432
- Taxes -€4,993
down €4,993 (-35.2%), from €14,180 to €9,188
- Other operating charges +€612
up €612 (+140%), from €439 to €1,051
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €954,302 | €947,214 | -€7,088 | -0.7% |
| Fixed assets | 21/28 | €241,390 | €220,388 | -€21,002 | -8.7% |
| Tangible fixed assets | 22/27 | €241,390 | €220,388 | -€21,002 | -8.7% |
| Land and buildings | 22 | €216,723 | €208,240 | -€8,483 | -3.9% |
| Plant, machinery and equipment | 23 | €1,427 | €498 | -€930 | -65.1% |
| Furniture and vehicles | 24 | €23,239 | €11,651 | -€11,589 | -49.9% |
| Current assets | 29/58 | €712,912 | €726,826 | +€13,914 | +2.0% |
| Amounts receivable within one year | 40/41 | €25,721 | €21,836 | -€3,885 | -15.1% |
| Trade receivables | 40 | €25,500 | - | -€25,500 | |
| Other amounts receivable | 41 | €221 | €21,836 | +€21,615 | +9,771% |
| Current investments | 50/53 | €575,594 | €600,594 | +€25,000 | +4.3% |
| Cash at bank and in hand | 54/58 | €109,586 | €102,376 | -€7,210 | -6.6% |
| Deferred charges and accrued income | 490/1 | €2,010 | €2,019 | +€9 | +0.4% |
| Total equity and liabilities | 10/49 | €954,302 | €947,214 | -€7,088 | -0.7% |
| Equity | 10/15 | €895,847 | €892,337 | -€3,511 | -0.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €831,074 | €831,074 | = | 0.0% |
| Distributable reserves | 133 | €831,074 | €831,074 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,774 | €60,263 | -€3,511 | -5.5% |
| Amounts payable | 17/49 | €58,454 | €54,877 | -€3,578 | -6.1% |
| Amounts payable within one year | 42/48 | €55,747 | €50,882 | -€4,865 | -8.7% |
| Trade debts | 44 | €1,434 | - | -€1,434 | |
| Suppliers | 440/4 | €1,434 | - | -€1,434 | |
| Taxes, remuneration and social security | 45 | €4,265 | - | -€4,265 | |
| Taxes | 450/3 | €4,265 | - | -€4,265 | |
| Other amounts payable | 47/48 | €50,048 | €50,882 | +€834 | +1.7% |
| Accrued charges and deferred income | 492/3 | €2,708 | €3,995 | +€1,287 | +47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,205 | €21,002 | -€203 | -1.0% |
| Other operating charges | 640/8 | €439 | €1,051 | +€612 | +140% |
| Gross operating margin | 9900 | €41,781 | €2,117 | -€39,664 | -94.9% |
| Operating profit (loss) | 9901 | €20,137 | -€19,937 | -€40,074 | |
| Financial income | 75/76B | €21,841 | €27,432 | +€5,591 | +25.6% |
| Recurring financial income | 75 | €21,841 | €27,432 | +€5,591 | +25.6% |
| Financial charges | 65/66B | €1,794 | €1,818 | +€24 | +1.3% |
| Recurring financial charges | 65 | €1,794 | €1,818 | +€24 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €40,184 | €5,677 | -€34,507 | -85.9% |
| Income taxes | 67/77 | €14,180 | €9,188 | -€4,993 | -35.2% |
| Profit (loss) for the period | 9904 | €26,003 | -€3,511 | -€29,514 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,003 | -€3,511 | -€29,514 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.