PIERRE HALUT: 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 HALUT
Largest movements
- Tangible fixed assets -€41,806
down €41,806 (-4.5%), from €920,264 to €878,457
of which Land and buildings: -€45,890
- Cash +€15,661
up €15,661 (+18.4%), from €85,017 to €100,679
mainly Depreciation (+€54,733) and Net result for the year (+€34,000)
- Debts after one year -€53,255
down €53,255 (-6.3%), from €850,808 to €797,553
- Reserves +€33,000
up €33,000 (+37.4%), from €88,160 to €121,160
of which Distributable reserves: +€33,000
- Gross operating margin -€6,583
down €6,583 (-4.6%), from €143,426 to €136,843
- Other operating charges -€5,661
down €5,661 (-39.0%), from €14,500 to €8,839
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 | €1,030,281 | €1,007,619 | -€22,662 | -2.2% |
| Fixed assets | 21/28 | €920,264 | €878,457 | -€41,806 | -4.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €920,264 | €878,457 | -€41,806 | -4.5% |
| Land and buildings | 22 | €908,729 | €862,839 | -€45,890 | -5.0% |
| Plant, machinery and equipment | 23 | €10,871 | €15,224 | +€4,352 | +40.0% |
| Furniture and vehicles | 24 | €663 | €395 | -€269 | -40.5% |
| Current assets | 29/58 | €110,017 | €129,162 | +€19,145 | +17.4% |
| Amounts receivable within one year | 40/41 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 41 | €25,000 | €25,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €85,017 | €100,679 | +€15,661 | +18.4% |
| Deferred charges and accrued income | 490/1 | €0 | €3,483 | +€3,483 | |
| Total equity and liabilities | 10/49 | €1,030,281 | €1,007,619 | -€22,662 | -2.2% |
| Equity | 10/15 | €94,169 | €128,169 | +€34,000 | +36.1% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €88,160 | €121,160 | +€33,000 | +37.4% |
| Tax-exempt reserves | 132 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €80,660 | €113,660 | +€33,000 | +40.9% |
| Profit (loss) carried forward | 14 | €4,149 | €5,149 | +€1,000 | +24.1% |
| Amounts payable | 17/49 | €936,112 | €879,450 | -€56,662 | -6.1% |
| Amounts payable after more than one year | 17 | €850,808 | €797,553 | -€53,255 | -6.3% |
| Financial debts | 170/4 | €850,808 | €797,553 | -€53,255 | -6.3% |
| Amounts payable within one year | 42/48 | €85,304 | €81,897 | -€3,406 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €55,217 | €57,366 | +€2,149 | +3.9% |
| Trade debts | 44 | €1,355 | €2,135 | +€779 | +57.5% |
| Suppliers | 440/4 | €1,355 | €2,135 | +€779 | +57.5% |
| Taxes, remuneration and social security | 45 | €7,357 | €1,000 | -€6,357 | -86.4% |
| Taxes | 450/3 | €7,357 | €1,000 | -€6,357 | -86.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €21,374 | €21,396 | +€22 | +0.1% |
| Remuneration, social security and pensions | 62 | €8,209 | €9,597 | +€1,388 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,453 | €54,733 | +€1,280 | +2.4% |
| Other operating charges | 640/8 | €14,500 | €8,839 | -€5,661 | -39.0% |
| Gross operating margin | 9900 | €143,426 | €136,843 | -€6,583 | -4.6% |
| Operating profit (loss) | 9901 | €67,265 | €63,675 | -€3,590 | -5.3% |
| Financial income | 75/76B | €155 | €897 | +€742 | +479% |
| Recurring financial income | 75 | €155 | €897 | +€742 | +479% |
| Financial charges | 65/66B | €14,786 | €14,302 | -€483 | -3.3% |
| Recurring financial charges | 65 | €14,786 | €14,302 | -€483 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €52,634 | €50,269 | -€2,365 | -4.5% |
| Income taxes | 67/77 | €17,404 | €16,269 | -€1,134 | -6.5% |
| Profit (loss) for the period | 9904 | €35,231 | €34,000 | -€1,231 | -3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,231 | €34,000 | -€1,231 | -3.5% |
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 14 October 2026 via checked.be.