PIERRE-ELITAIR: 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-ELITAIR
Largest movements
- Tangible fixed assets -€18,896
down €18,896 (-20.0%), from €94,624 to €75,728
of which Land and buildings: -€17,464
- Cash -€18,691
down €18,691 (-21.4%), from €87,314 to €68,623
mainly Investment in fixed assets (net) (-€27,249) and Debts after one year (-€22,222)
- Receivables within one year +€16,739
up €16,739 (+50.1%), from €33,419 to €50,158
of which Trade receivables: +€17,949
- Debts after one year -€22,222
down €22,222 (-34.3%), from €64,815 to €42,593
- Reserves +€6,323
up €6,323 (+8.1%), from €77,961 to €84,284
- Trade debts -€5,426
down €5,426 (-25.7%), from €21,098 to €15,671
- Accrued charges and deferred income -€2,995
down €2,995 (-74.5%), from €4,021 to €1,026
- Gross operating margin +€5,360
up €5,360 (+9.4%), from €56,740 to €62,099
- Taxes +€1,586
up €1,586 (+59.9%), from €2,649 to €4,235
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 | €218,744 | €197,993 | -€20,751 | -9.5% |
| Fixed assets | 21/28 | €94,624 | €75,728 | -€18,896 | -20.0% |
| Tangible fixed assets | 22/27 | €94,624 | €75,728 | -€18,896 | -20.0% |
| Land and buildings | 22 | €82,332 | €64,868 | -€17,464 | -21.2% |
| Plant, machinery and equipment | 23 | €3,250 | €2,438 | -€813 | -25.0% |
| Furniture and vehicles | 24 | €9,042 | €1,492 | -€7,550 | -83.5% |
| Other tangible fixed assets | 26 | - | €6,931 | +€6,931 | |
| Current assets | 29/58 | €124,120 | €122,265 | -€1,855 | -1.5% |
| Amounts receivable within one year | 40/41 | €33,419 | €50,158 | +€16,739 | +50.1% |
| Trade receivables | 40 | €32,209 | €50,158 | +€17,949 | +55.7% |
| Other amounts receivable | 41 | €1,210 | - | -€1,210 | |
| Cash at bank and in hand | 54/58 | €87,314 | €68,623 | -€18,691 | -21.4% |
| Deferred charges and accrued income | 490/1 | €3,388 | €3,484 | +€97 | +2.8% |
| Total equity and liabilities | 10/49 | €218,744 | €197,993 | -€20,751 | -9.5% |
| Equity | 10/15 | €96,561 | €102,884 | +€6,323 | +6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €77,961 | €84,284 | +€6,323 | +8.1% |
| Distributable reserves | 133 | €77,961 | €84,284 | +€6,323 | +8.1% |
| Amounts payable | 17/49 | €122,183 | €95,109 | -€27,075 | -22.2% |
| Amounts payable after more than one year | 17 | €64,815 | €42,593 | -€22,222 | -34.3% |
| Financial debts | 170/4 | €64,815 | €42,593 | -€22,222 | -34.3% |
| Amounts payable within one year | 42/48 | €53,347 | €51,490 | -€1,857 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €22,222 | €22,222 | = | 0.0% |
| Trade debts | 44 | €21,098 | €15,671 | -€5,426 | -25.7% |
| Suppliers | 440/4 | €21,098 | €15,671 | -€5,426 | -25.7% |
| Taxes, remuneration and social security | 45 | €9,286 | €11,179 | +€1,893 | +20.4% |
| Taxes | 450/3 | €7,942 | €11,179 | +€3,237 | +40.8% |
| Remuneration and social security | 454/9 | €1,344 | - | -€1,344 | |
| Other amounts payable | 47/48 | €742 | €2,418 | +€1,676 | +226% |
| Accrued charges and deferred income | 492/3 | €4,021 | €1,026 | -€2,995 | -74.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,934 | €46,145 | +€211 | +0.5% |
| Other operating charges | 640/8 | €4,311 | €4,048 | -€263 | -6.1% |
| Gross operating margin | 9900 | €56,740 | €62,099 | +€5,360 | +9.4% |
| Operating profit (loss) | 9901 | €6,495 | €11,907 | +€5,412 | +83.3% |
| Financial income | 75/76B | €480 | €314 | -€166 | -34.6% |
| Recurring financial income | 75 | €480 | €314 | -€166 | -34.6% |
| Financial charges | 65/66B | €2,228 | €1,662 | -€566 | -25.4% |
| Recurring financial charges | 65 | €2,228 | €1,662 | -€566 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €4,746 | €10,559 | +€5,812 | +122% |
| Income taxes | 67/77 | €2,649 | €4,235 | +€1,586 | +59.9% |
| Profit (loss) for the period | 9904 | €2,097 | €6,323 | +€4,226 | +202% |
| Profit (loss) for the period to be appropriated | 9905 | €2,097 | €6,323 | +€4,226 | +202% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.