PIERRET: 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.
What changed
PIERRET
NACE 16.230, Manufacture of other builders' carpentry and joinery
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€7.0m
2023 · €5.1m+€1.8m
Equity
€47.1m
2023 · €40.8m+€6.3m
Cash
€7.2m
2023 · €14.3m-€7.1m
Balance sheet total
€83.8m
2023 · €71.0m+€12.8m
Largest movements
Assets
- Tangible fixed assets +€13.9m
up €13.9m (+91.3%), from €15.2m to €29.2m
of which Assets under construction and advance payments: +€11.7m
- Cash -€7.1m
down €7.1m (-49.7%), from €14.3m to €7.2m
mainly Investment in fixed assets (net) (-€17.3m) and Current investments (-€6.5m)
- Current investments +€6.5m
new in 2024: €6.5m
- Stocks and contracts -€1.0m
down €1.0m (-16.1%), from €6.4m to €5.3m
of which Stocks: -€713,828
Equity and liabilities
- Profit (loss) carried forward +€6.3m
up €6.3m (+17.8%), from €35.5m to €41.8m
- Debts after one year +€6.1m
up €6.1m (+79.6%), from €7.7m to €13.9m
- Trade debts -€2.5m
down €2.5m (-20.1%), from €12.5m to €10.0m
- Current portion of long-term debt +€1.8m
up €1.8m (+73.7%), from €2.4m to €4.2m
- Tax, wage and social debts +€959,104
up €959,104 (+28.3%), from €3.4m to €4.3m
of which Taxes: +€527,218
Income statement
- Goods and materials -€9.3m
down €9.3m (-15.0%), from €61.8m to €52.5m
of which Purchases: -€10.1m
- Turnover -€6.9m
down €6.9m (-6.3%), from €108.8m to €102.0m
- Services and other goods -€1.6m
down €1.6m (-8.5%), from €18.7m to €17.1m
From the 2023 result to the 2024 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.
Result 2023
€5.1m
Turnover
-€6.9m
Other operating income
-€1.1m
Goods and materials
+€9.3m
Services and other goods
+€1.6m
Staff costs
-€637,480
Depreciation
+€239,311
Write-downs
-€319,860
Provisions
+€466,798
Other operating charges
+€171,311
Other operating items
-€288,391
Financial income
+€86,258
Financial charges
-€152,666
Taxes
-€641,128
Result 2024
€7.0m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€9.5m
Investment
-€23.8m
Financing
+€7.3m
Cash 2023
€14.3m
From operations (derived)
+€9.5m
Net result for the year
+€7.0m
Depreciation
+€3.5m
Receivables after one year
+€50,000
Stocks and contracts
+€1.0m
Receivables within one year
-€691,056
Deferred charges and accrued income
+€55,609
Provisions
+€167,645
Trade debts
-€2.5m
Tax, wage and social debts
+€959,104
Other debts
-€1
Accrued charges and deferred income
-€55,354
Investment (derived)
-€23.8m
Investment in fixed assets (net)
-€17.3m
Current investments
-€6.5m
Financing
+€7.3m
Debts after one year
+€6.1m
Current portion of long-term debt
+€1.8m
Contributions, distributions and other
-€681,822
Cash 2024
€7.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €70,989,259 | €83,758,510 | +€12.8m | +18.0% |
| Formation expenses | 20 | €855,805 | €789,960 | -€65,845 | -7.7% |
| Fixed assets | 21/28 | €32,032,464 | €45,898,771 | +€13.9m | +43.3% |
| Intangible fixed assets | 21 | €1,011,394 | €884,786 | -€126,608 | -12.5% |
| Tangible fixed assets | 22/27 | €15,247,591 | €29,161,706 | +€13.9m | +91.3% |
| Land and buildings | 22 | €5,935,626 | €8,581,799 | +€2.6m | +44.6% |
| Plant, machinery and equipment | 23 | €3,454,696 | €2,802,956 | -€651,740 | -18.9% |
| Furniture and vehicles | 24 | €1,215,402 | €1,096,114 | -€119,288 | -9.8% |
| Leasing and similar rights | 25 | €3,674,876 | €3,964,562 | +€289,686 | +7.9% |
| Other tangible fixed assets | 26 | €300,392 | €307,355 | +€6,963 | +2.3% |
| Assets under construction and advance payments | 27 | €666,599 | €12,408,920 | +€11.7m | +1,762% |
| Financial fixed assets | 28 | €15,773,479 | €15,852,279 | +€78,800 | +0.5% |
| Affiliated companies | 280/1 | €15,597,350 | €15,597,350 | = | 0.0% |
| Participating interests | 280 | €15,597,350 | €15,597,350 | = | 0.0% |
| Other financial fixed assets | 284/8 | €176,129 | €254,929 | +€78,800 | +44.7% |
| Shares | 284 | €50,399 | €50,399 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €125,730 | €204,530 | +€78,800 | +62.7% |
| Current assets | 29/58 | €38,100,990 | €37,069,779 | -€1.0m | -2.7% |
| Amounts receivable after more than one year | 29 | €1,882,428 | €1,832,428 | -€50,000 | -2.7% |
| Other amounts receivable | 291 | €1,882,428 | €1,832,428 | -€50,000 | -2.7% |
| Stocks and contracts in progress | 3 | €6,351,503 | €5,328,306 | -€1.0m | -16.1% |
| Stocks | 30/36 | €4,825,599 | €4,111,771 | -€713,828 | -14.8% |
| Raw materials and consumables | 30/31 | €4,825,599 | €4,111,771 | -€713,828 | -14.8% |
| Contracts in progress | 37 | €1,525,904 | €1,216,535 | -€309,369 | -20.3% |
| Amounts receivable within one year | 40/41 | €15,289,277 | €15,980,333 | +€691,056 | +4.5% |
| Trade receivables | 40 | €13,136,855 | €14,970,452 | +€1.8m | +14.0% |
| Other amounts receivable | 41 | €2,152,422 | €1,009,881 | -€1.1m | -53.1% |
| Current investments | 50/53 | - | €6,500,000 | +€6.5m | |
| Other investments | 51/53 | - | €6,500,000 | +€6.5m | |
| Cash at bank and in hand | 54/58 | €14,271,361 | €7,177,900 | -€7.1m | -49.7% |
| Deferred charges and accrued income | 490/1 | €306,421 | €250,812 | -€55,609 | -18.1% |
| Total equity and liabilities | 10/49 | €70,989,259 | €83,758,510 | +€12.8m | +18.0% |
| Equity | 10/15 | €40,777,875 | €47,050,596 | +€6.3m | +15.4% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €3,142,272 | €3,142,272 | = | 0.0% |
| Non-distributable reserves | 130/1 | €222,310 | €222,310 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Other | 1319 | €22,310 | €22,310 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,957 | €14,957 | = | 0.0% |
| Distributable reserves | 133 | €2,905,005 | €2,905,005 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,471,679 | €41,780,679 | +€6.3m | +17.8% |
| Investment grants | 15 | €163,924 | €127,645 | -€36,279 | -22.1% |
| Provisions and deferred taxes | 16 | €3,417,840 | €3,585,485 | +€167,645 | +4.9% |
| Provisions for liabilities and charges | 160/5 | €3,416,791 | €3,584,436 | +€167,645 | +4.9% |
| Other liabilities and charges | 164/5 | €3,416,791 | €3,584,436 | +€167,645 | +4.9% |
| Deferred taxes | 168 | €1,049 | €1,049 | = | 0.0% |
| Amounts payable | 17/49 | €26,793,544 | €33,122,429 | +€6.3m | +23.6% |
| Amounts payable after more than one year | 17 | €7,712,236 | €13,852,254 | +€6.1m | +79.6% |
| Financial debts | 170/4 | €7,712,236 | €13,852,254 | +€6.1m | +79.6% |
| Leasing and similar obligations | 172 | €2,213,103 | €7,805,066 | +€5.6m | +253% |
| Credit institutions | 173 | €5,499,133 | €6,047,188 | +€548,055 | +10.0% |
| Amounts payable within one year | 42/48 | €19,019,467 | €19,263,688 | +€244,221 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €2,442,777 | €4,244,180 | +€1.8m | +73.7% |
| Trade debts | 44 | €12,545,268 | €10,028,983 | -€2.5m | -20.1% |
| Suppliers | 440/4 | €12,545,268 | €10,028,983 | -€2.5m | -20.1% |
| Taxes, remuneration and social security | 45 | €3,385,878 | €4,344,982 | +€959,104 | +28.3% |
| Taxes | 450/3 | €402,402 | €929,620 | +€527,218 | +131% |
| Remuneration and social security | 454/9 | €2,983,476 | €3,415,362 | +€431,886 | +14.5% |
| Other amounts payable | 47/48 | €645,544 | €645,543 | -€1 | 0.0% |
| Accrued charges and deferred income | 492/3 | €61,841 | €6,487 | -€55,354 | -89.5% |
| Operating income | 70/76A | €111,544,586 | €103,310,433 | -€8.2m | -7.4% |
| Turnover | 70 | €108,808,796 | €101,952,602 | -€6.9m | -6.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€77,970 | -€309,369 | -€231,399 | -297% |
| Own construction capitalised | 72 | €109,572 | €127,658 | +€18,086 | +16.5% |
| Other operating income | 74 | €2,618,889 | €1,534,542 | -€1.1m | -41.4% |
| Non-recurring operating income | 76A | €85,299 | €5,000 | -€80,299 | -94.1% |
| Operating charges | 60/66A | €104,539,506 | €93,773,839 | -€10.8m | -10.3% |
| Goods for resale, raw materials and consumables | 60 | €61,798,436 | €52,546,085 | -€9.3m | -15.0% |
| Purchases | 600/8 | €61,916,683 | €51,832,257 | -€10.1m | -16.3% |
| Change in stocks: decrease (increase) | 609 | -€118,247 | €713,828 | +€832,075 | |
| Services and other goods | 61 | €18,693,185 | €17,105,170 | -€1.6m | -8.5% |
| Remuneration, social security and pensions | 62 | €19,295,693 | €19,933,173 | +€637,480 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,761,030 | €3,521,719 | -€239,311 | -6.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€116,656 | €203,204 | +€319,860 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €634,443 | €167,645 | -€466,798 | -73.6% |
| Other operating charges | 640/8 | €383,176 | €211,865 | -€171,311 | -44.7% |
| Non-recurring operating charges | 66A | €90,199 | €84,978 | -€5,221 | -5.8% |
| Operating profit (loss) | 9901 | €7,005,080 | €9,536,594 | +€2.5m | +36.1% |
| Financial income | 75/76B | €468,595 | €554,853 | +€86,258 | +18.4% |
| Recurring financial income | 75 | €468,595 | €554,853 | +€86,258 | +18.4% |
| Income from financial fixed assets | 750 | - | €1,556 | +€1,556 | |
| Income from current assets | 751 | €231,432 | €395,490 | +€164,058 | +70.9% |
| Other financial income | 752/9 | €237,163 | €157,807 | -€79,356 | -33.5% |
| Financial charges | 65/66B | €410,451 | €563,117 | +€152,666 | +37.2% |
| Recurring financial charges | 65 | €410,451 | €563,117 | +€152,666 | +37.2% |
| Debt charges | 650 | €161,481 | €291,996 | +€130,515 | +80.8% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €50,000 | +€50,000 | |
| Other financial charges | 652/9 | €248,970 | €221,121 | -€27,849 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €7,063,224 | €9,528,330 | +€2.5m | +34.9% |
| Income taxes | 67/77 | €1,932,659 | €2,573,787 | +€641,128 | +33.2% |
| Taxes | 670/3 | €1,932,659 | €2,574,861 | +€642,202 | +33.2% |
| Tax adjustments and reversals of tax provisions | 77 | - | €1,074 | +€1,074 | |
| Profit (loss) for the period | 9904 | €5,130,565 | €6,954,543 | +€1.8m | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,130,565 | €6,954,543 | +€1.8m | +35.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.