Pierre Halloy: 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 Halloy
Largest movements
- Cash +€7,136
up €7,136 (+24.3%), from €29,393 to €36,529
mainly Net result for the year (+€15,941) and Depreciation (+€1,663)
- Tangible fixed assets +€2,707
up €2,707 (+47.2%), from €5,733 to €8,440
of which Furniture and vehicles: +€3,418
- Receivables within one year +€2,391
up €2,391 (+16.6%), from €14,385 to €16,775
of which Trade receivables: +€3,797
- Financial fixed assets +€705
up €705 (+29.4%), from €2,400 to €3,105
- Profit (loss) carried forward +€15,941
up €15,941 (+41.5%), from €38,415 to €54,356
- Trade debts -€3,045
down €3,045 (-62.9%), from €4,839 to €1,794
- Gross operating margin +€3,563
up €3,563 (+18.0%), from €19,818 to €23,381
- Taxes +€1,228
up €1,228 (+26.9%), from €4,568 to €5,797
- Depreciation +€513
up €513 (+44.5%), from €1,151 to €1,663
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 | €53,692 | €66,244 | +€12,552 | +23.4% |
| Formation expenses | 20 | €1,780 | €1,296 | -€484 | -27.2% |
| Fixed assets | 21/28 | €8,133 | €11,545 | +€3,412 | +41.9% |
| Tangible fixed assets | 22/27 | €5,733 | €8,440 | +€2,707 | +47.2% |
| Furniture and vehicles | 24 | - | €3,418 | +€3,418 | |
| Other tangible fixed assets | 26 | €5,733 | €5,022 | -€711 | -12.4% |
| Financial fixed assets | 28 | €2,400 | €3,105 | +€705 | +29.4% |
| Current assets | 29/58 | €43,778 | €53,402 | +€9,624 | +22.0% |
| Amounts receivable within one year | 40/41 | €14,385 | €16,775 | +€2,391 | +16.6% |
| Trade receivables | 40 | €6,327 | €10,124 | +€3,797 | +60.0% |
| Other amounts receivable | 41 | €8,058 | €6,652 | -€1,406 | -17.4% |
| Cash at bank and in hand | 54/58 | €29,393 | €36,529 | +€7,136 | +24.3% |
| Deferred charges and accrued income | 490/1 | - | €97 | +€97 | |
| Total equity and liabilities | 10/49 | €53,692 | €66,244 | +€12,552 | +23.4% |
| Equity | 10/15 | €43,415 | €59,356 | +€15,941 | +36.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,415 | €54,356 | +€15,941 | +41.5% |
| Amounts payable | 17/49 | €10,277 | €6,888 | -€3,389 | -33.0% |
| Amounts payable within one year | 42/48 | €10,277 | €6,888 | -€3,389 | -33.0% |
| Trade debts | 44 | €4,839 | €1,794 | -€3,045 | -62.9% |
| Suppliers | 440/4 | €4,839 | €1,794 | -€3,045 | -62.9% |
| Taxes, remuneration and social security | 45 | €5,438 | €5,094 | -€343 | -6.3% |
| Taxes | 450/3 | €5,438 | €5,094 | -€343 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,151 | €1,663 | +€513 | +44.5% |
| Gross operating margin | 9900 | €19,818 | €23,381 | +€3,563 | +18.0% |
| Operating profit (loss) | 9901 | €18,667 | €21,718 | +€3,051 | +16.3% |
| Financial income | 75/76B | €331 | €296 | -€35 | -10.7% |
| Recurring financial income | 75 | €331 | €296 | -€35 | -10.7% |
| Financial charges | 65/66B | €164 | €276 | +€112 | +67.9% |
| Recurring financial charges | 65 | €164 | €276 | +€112 | +67.9% |
| Profit (loss) for the period before taxes | 9903 | €18,834 | €21,738 | +€2,904 | +15.4% |
| Income taxes | 67/77 | €4,568 | €5,797 | +€1,228 | +26.9% |
| Profit (loss) for the period | 9904 | €14,265 | €15,941 | +€1,676 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,265 | €15,941 | +€1,676 | +11.7% |
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 13 October 2026 via checked.be.