PIERRE HENRY: 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 HENRY
Largest movements
- Tangible fixed assets -€11,017
down €11,017 (-24.5%), from €44,935 to €33,918
of which Furniture and vehicles: -€10,008
- Cash +€5,153
up €5,153 (+7.6%), from €67,973 to €73,125
mainly Depreciation (+€12,313) and Receivables within one year (+€3,617)
- Receivables within one year -€3,617
down €3,617 (-39.3%), from €9,213 to €5,596
of which Trade receivables: -€3,343
- Other debts -€6,102
down €6,102 (-23.5%), from €25,974 to €19,872
- Profit (loss) carried forward -€5,168
down €5,168 (-6.9%), from €74,662 to €69,494
- Gross operating margin -€3,438
down €3,438 (-30.2%), from €11,369 to €7,931
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 | €122,225 | €112,747 | -€9,479 | -7.8% |
| Fixed assets | 21/28 | €44,935 | €33,918 | -€11,017 | -24.5% |
| Tangible fixed assets | 22/27 | €44,935 | €33,918 | -€11,017 | -24.5% |
| Plant, machinery and equipment | 23 | €4,112 | €3,103 | -€1,010 | -24.6% |
| Furniture and vehicles | 24 | €40,823 | €30,815 | -€10,008 | -24.5% |
| Current assets | 29/58 | €77,290 | €78,829 | +€1,538 | +2.0% |
| Amounts receivable within one year | 40/41 | €9,213 | €5,596 | -€3,617 | -39.3% |
| Trade receivables | 40 | €8,939 | €5,596 | -€3,343 | -37.4% |
| Other amounts receivable | 41 | €274 | - | -€274 | |
| Cash at bank and in hand | 54/58 | €67,973 | €73,125 | +€5,153 | +7.6% |
| Deferred charges and accrued income | 490/1 | €105 | €107 | +€3 | +2.5% |
| Total equity and liabilities | 10/49 | €122,225 | €112,747 | -€9,479 | -7.8% |
| Equity | 10/15 | €95,122 | €89,954 | -€5,168 | -5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,662 | €69,494 | -€5,168 | -6.9% |
| Amounts payable | 17/49 | €27,104 | €22,793 | -€4,311 | -15.9% |
| Amounts payable within one year | 42/48 | €27,104 | €22,793 | -€4,311 | -15.9% |
| Trade debts | 44 | €1,130 | €2,325 | +€1,195 | +106% |
| Suppliers | 440/4 | €1,130 | €2,325 | +€1,195 | +106% |
| Taxes, remuneration and social security | 45 | - | €597 | +€597 | |
| Taxes | 450/3 | - | €597 | +€597 | |
| Other amounts payable | 47/48 | €25,974 | €19,872 | -€6,102 | -23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,269 | €12,313 | +€44 | +0.4% |
| Other operating charges | 640/8 | €725 | €744 | +€19 | +2.6% |
| Gross operating margin | 9900 | €11,369 | €7,931 | -€3,438 | -30.2% |
| Operating profit (loss) | 9901 | -€1,625 | -€5,126 | -€3,501 | -215% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €41 | €42 | +€1 | +2.5% |
| Recurring financial charges | 65 | €41 | €42 | +€1 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,666 | -€5,168 | -€3,502 | -210% |
| Income taxes | 67/77 | €85 | - | -€85 | |
| Profit (loss) for the period | 9904 | -€1,752 | -€5,168 | -€3,416 | -195% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,752 | -€5,168 | -€3,416 | -195% |
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 24 October 2026 via checked.be.