PIERRE - YVES: 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 - YVES
Largest movements
- Cash +€99,460
up €99,460 (+125%), from €79,830 to €179,289
mainly Net result for the year (+€49,338) and Trade debts (+€36,180)
- Tangible fixed assets +€7,815
up €7,815 (+54.2%), from €14,414 to €22,229
of which Furniture and vehicles: +€8,080
- Reserves +€49,338
up €49,338 (+9.1%), from €544,539 to €593,876
of which Distributable reserves: +€49,338
- Trade debts +€36,180
up €36,180 (+147%), from €24,578 to €60,758
- Other debts +€20,418
new in 2025: €20,418
- Staff costs -€19,891
down €19,891 (-19.2%), from €103,464 to €83,573
- Gross operating margin +€14,715
up €14,715 (+11.4%), from €129,258 to €143,972
- Taxes +€2,917
up €2,917 (+120%), from €2,427 to €5,344
- Depreciation +€2,037
up €2,037 (+31.4%), from €6,494 to €8,531
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 | €650,433 | €763,401 | +€112,968 | +17.4% |
| Fixed assets | 21/28 | €14,686 | €22,502 | +€7,815 | +53.2% |
| Tangible fixed assets | 22/27 | €14,414 | €22,229 | +€7,815 | +54.2% |
| Plant, machinery and equipment | 23 | €1,090 | €825 | -€265 | -24.3% |
| Furniture and vehicles | 24 | €13,324 | €21,404 | +€8,080 | +60.6% |
| Financial fixed assets | 28 | €273 | €273 | = | 0.0% |
| Current assets | 29/58 | €635,747 | €740,900 | +€105,153 | +16.5% |
| Stocks and contracts in progress | 3 | €100,005 | €105,675 | +€5,670 | +5.7% |
| Stocks | 30/36 | €100,005 | €105,675 | +€5,670 | +5.7% |
| Amounts receivable within one year | 40/41 | €455,913 | €455,935 | +€23 | 0.0% |
| Trade receivables | 40 | - | €1,728 | +€1,728 | |
| Other amounts receivable | 41 | €455,913 | €454,207 | -€1,705 | -0.4% |
| Cash at bank and in hand | 54/58 | €79,830 | €179,289 | +€99,460 | +125% |
| Total equity and liabilities | 10/49 | €650,433 | €763,401 | +€112,968 | +17.4% |
| Equity | 10/15 | €606,139 | €655,476 | +€49,338 | +8.1% |
| Contributions | 10/11 | €61,600 | €61,600 | = | 0.0% |
| Capital | 10 | €61,600 | €61,600 | = | 0.0% |
| Issued capital | 100 | €61,600 | €61,600 | = | 0.0% |
| Reserves | 13 | €544,539 | €593,876 | +€49,338 | +9.1% |
| Non-distributable reserves | 130/1 | €6,160 | €6,160 | = | 0.0% |
| Legal reserve | 130 | €6,160 | €6,160 | = | 0.0% |
| Distributable reserves | 133 | €538,379 | €587,716 | +€49,338 | +9.2% |
| Amounts payable | 17/49 | €44,295 | €107,925 | +€63,630 | +144% |
| Amounts payable within one year | 42/48 | €44,295 | €107,925 | +€63,630 | +144% |
| Trade debts | 44 | €24,578 | €60,758 | +€36,180 | +147% |
| Suppliers | 440/4 | €24,578 | €60,758 | +€36,180 | +147% |
| Taxes, remuneration and social security | 45 | €19,717 | €26,748 | +€7,032 | +35.7% |
| Taxes | 450/3 | €9,595 | €10,711 | +€1,117 | +11.6% |
| Remuneration and social security | 454/9 | €10,122 | €16,037 | +€5,915 | +58.4% |
| Other amounts payable | 47/48 | - | €20,418 | +€20,418 | |
| Remuneration, social security and pensions | 62 | €103,464 | €83,573 | -€19,891 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,494 | €8,531 | +€2,037 | +31.4% |
| Other operating charges | 640/8 | €1,358 | €1,931 | +€573 | +42.2% |
| Gross operating margin | 9900 | €129,258 | €143,972 | +€14,715 | +11.4% |
| Operating profit (loss) | 9901 | €17,942 | €49,937 | +€31,995 | +178% |
| Financial income | 75/76B | €5,371 | €5,070 | -€301 | -5.6% |
| Recurring financial income | 75 | €5,371 | €5,070 | -€301 | -5.6% |
| Financial charges | 65/66B | €568 | €325 | -€243 | -42.8% |
| Recurring financial charges | 65 | €568 | €325 | -€243 | -42.8% |
| Profit (loss) for the period before taxes | 9903 | €22,745 | €54,682 | +€31,937 | +140% |
| Income taxes | 67/77 | €2,427 | €5,344 | +€2,917 | +120% |
| Profit (loss) for the period | 9904 | €20,318 | €49,338 | +€29,020 | +143% |
| Profit (loss) for the period to be appropriated | 9905 | €20,318 | €49,338 | +€29,020 | +143% |
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 19 October 2026 via checked.be.