PIERROT: 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.
PIERROT
Largest movements
- Receivables within one year +€2,367
up €2,367 (+59.7%), from €3,966 to €6,332
- Stocks and contracts -€1,657
down €1,657 (-35.1%), from €4,727 to €3,070
- Tangible fixed assets -€1,013
down €1,013 (-56.0%), from €1,809 to €796
- Cash -€499
down €499 (-2.6%), from €19,277 to €18,777
mainly Receivables within one year (-€2,367) and Tax, wage and social debts (-€1,913)
- Deferred charges and accrued income -€371
down €371 (-30.1%), from €1,232 to €861
- Tax, wage and social debts -€1,913
down €1,913 (-100.0%), from €1,913 to €0
of which Remuneration and social security: -€1,105
- Trade debts +€1,711
up €1,711 (+91.9%), from €1,862 to €3,573
- Short-term financial debts -€640
down €640 (-100.0%), from €640 to €0
- Reserves -€333
down €333 (-0.9%), from €37,423 to €37,091
of which Distributable reserves: -€333
- Gross operating margin -€1,548
down €1,548 (-9.8%), from €15,777 to €14,230
- Financial charges -€1,529
down €1,529 (-30.4%), from €5,029 to €3,501
- Other operating charges +€1,096
up €1,096 (+77.1%), from €1,420 to €2,516
- Depreciation -€789
down €789 (-43.8%), from €1,802 to €1,013
- Taxes -€614
down €614 (-29.0%), from €2,116 to €1,502
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.
Cash bridge derived
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 | €31,482 | €30,307 | -€1,174 | -3.7% |
| Fixed assets | 21/28 | €2,280 | €1,267 | -€1,013 | -44.4% |
| Tangible fixed assets | 22/27 | €1,809 | €796 | -€1,013 | -56.0% |
| Land and buildings | 22 | €290 | €0 | -€290 | -100.0% |
| Plant, machinery and equipment | 23 | €1,187 | €796 | -€391 | -32.9% |
| Furniture and vehicles | 24 | €332 | €0 | -€332 | -100.0% |
| Financial fixed assets | 28 | €471 | €471 | = | 0.0% |
| Current assets | 29/58 | €29,202 | €29,041 | -€161 | -0.6% |
| Stocks and contracts in progress | 3 | €4,727 | €3,070 | -€1,657 | -35.1% |
| Stocks | 30/36 | €4,727 | €3,070 | -€1,657 | -35.1% |
| Amounts receivable within one year | 40/41 | €3,966 | €6,332 | +€2,367 | +59.7% |
| Other amounts receivable | 41 | €3,966 | €6,332 | +€2,367 | +59.7% |
| Cash at bank and in hand | 54/58 | €19,277 | €18,777 | -€499 | -2.6% |
| Deferred charges and accrued income | 490/1 | €1,232 | €861 | -€371 | -30.1% |
| Total equity and liabilities | 10/49 | €31,482 | €30,307 | -€1,174 | -3.7% |
| Equity | 10/15 | €27,067 | €26,734 | -€333 | -1.2% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €37,423 | €37,091 | -€333 | -0.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €35,563 | €35,231 | -€333 | -0.9% |
| Profit (loss) carried forward | 14 | -€16,562 | -€16,562 | = | 0.0% |
| Amounts payable | 17/49 | €4,415 | €3,573 | -€842 | -19.1% |
| Amounts payable within one year | 42/48 | €4,415 | €3,573 | -€842 | -19.1% |
| Financial debts | 43 | €640 | €0 | -€640 | -100.0% |
| Credit institutions | 430/8 | €640 | €0 | -€640 | -100.0% |
| Trade debts | 44 | €1,862 | €3,573 | +€1,711 | +91.9% |
| Suppliers | 440/4 | €1,862 | €3,573 | +€1,711 | +91.9% |
| Taxes, remuneration and social security | 45 | €1,913 | €0 | -€1,913 | -100.0% |
| Taxes | 450/3 | €808 | €0 | -€808 | -100.0% |
| Remuneration and social security | 454/9 | €1,105 | €0 | -€1,105 | -100.0% |
| Remuneration, social security and pensions | 62 | €5,556 | €6,031 | +€474 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,802 | €1,013 | -€789 | -43.8% |
| Other operating charges | 640/8 | €1,420 | €2,516 | +€1,096 | +77.1% |
| Gross operating margin | 9900 | €15,777 | €14,230 | -€1,548 | -9.8% |
| Operating profit (loss) | 9901 | €6,998 | €4,670 | -€2,328 | -33.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,029 | €3,501 | -€1,529 | -30.4% |
| Recurring financial charges | 65 | €5,029 | €3,501 | -€1,529 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | €1,969 | €1,169 | -€800 | -40.6% |
| Income taxes | 67/77 | €2,116 | €1,502 | -€614 | -29.0% |
| Profit (loss) for the period | 9904 | -€147 | -€333 | -€186 | -126.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€147 | -€333 | -€186 | -126.7% |
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 10 October 2026 via checked.be.