PIERROT: what changed
PIERROT
Largest movements
- Cash -€34,907
down €34,907 (-29.4%), from €118,555 to €83,648
mainly Contributions, distributions and other (-€50,000) and Tax, wage and social debts (-€20,104)
- Tangible fixed assets -€7,519
down €7,519 (-21.8%), from €34,512 to €26,994
of which Furniture and vehicles: -€7,291
- Stocks and contracts -€2,366
down €2,366 (-13.2%), from €17,995 to €15,629
- Receivables within one year +€2,153
up €2,153 (+27.9%), from €7,716 to €9,869
of which Other amounts receivable: +€9,136
- Reserves -€22,048
down €22,048 (-45.2%), from €48,746 to €26,698
of which Distributable reserves: -€22,048
- Tax, wage and social debts -€20,104
down €20,104 (-49.1%), from €40,927 to €20,823
of which Taxes: -€20,891
- Other debts +€8,448
up €8,448 (+12.4%), from €68,375 to €76,823
- Trade debts -€4,389
down €4,389 (-36.4%), from €12,061 to €7,671
- Current portion of long-term debt -€4,344
no longer reported in 2025 (was €4,344)
- Gross operating margin -€40,976
down €40,976 (-23.6%), from €173,699 to €132,723
- Taxes -€11,621
down €11,621 (-51.9%), from €22,377 to €10,756
- Staff costs +€6,786
up €6,786 (+9.4%), from €72,199 to €78,985
- Financial charges -€2,222
down €2,222 (-76.1%), from €2,918 to €696
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €186,987 | €144,555 | -€42,432 | -22.7% |
| Fixed assets | 21/28 | €34,637 | €27,119 | -€7,519 | -21.7% |
| Tangible fixed assets | 22/27 | €34,512 | €26,994 | -€7,519 | -21.8% |
| Plant, machinery and equipment | 23 | - | €851 | +€851 | |
| Furniture and vehicles | 24 | €31,359 | €24,068 | -€7,291 | -23.2% |
| Other tangible fixed assets | 26 | €3,153 | €2,075 | -€1,078 | -34.2% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €152,349 | €117,436 | -€34,913 | -22.9% |
| Stocks and contracts in progress | 3 | €17,995 | €15,629 | -€2,366 | -13.2% |
| Stocks | 30/36 | €17,995 | €15,629 | -€2,366 | -13.2% |
| Amounts receivable within one year | 40/41 | €7,716 | €9,869 | +€2,153 | +27.9% |
| Trade receivables | 40 | €6,983 | - | -€6,983 | |
| Other amounts receivable | 41 | €732 | €9,869 | +€9,136 | +1,248% |
| Cash at bank and in hand | 54/58 | €118,555 | €83,648 | -€34,907 | -29.4% |
| Deferred charges and accrued income | 490/1 | €8,084 | €8,291 | +€207 | +2.6% |
| Total equity and liabilities | 10/49 | €186,987 | €144,555 | -€42,432 | -22.7% |
| Equity | 10/15 | €61,146 | €39,098 | -€22,048 | -36.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €48,746 | €26,698 | -€22,048 | -45.2% |
| Non-distributable reserves | 130/1 | €999 | €999 | = | 0.0% |
| Reserves not available under the articles | 1311 | €999 | €999 | = | 0.0% |
| Distributable reserves | 133 | €47,747 | €25,699 | -€22,048 | -46.2% |
| Amounts payable | 17/49 | €125,841 | €105,457 | -€20,384 | -16.2% |
| Amounts payable within one year | 42/48 | €125,707 | €105,318 | -€20,389 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €4,344 | - | -€4,344 | |
| Trade debts | 44 | €12,061 | €7,671 | -€4,389 | -36.4% |
| Suppliers | 440/4 | €12,061 | €7,671 | -€4,389 | -36.4% |
| Taxes, remuneration and social security | 45 | €40,927 | €20,823 | -€20,104 | -49.1% |
| Taxes | 450/3 | €34,683 | €13,792 | -€20,891 | -60.2% |
| Remuneration and social security | 454/9 | €6,244 | €7,032 | +€788 | +12.6% |
| Other amounts payable | 47/48 | €68,375 | €76,823 | +€8,448 | +12.4% |
| Accrued charges and deferred income | 492/3 | €134 | €139 | +€5 | +3.8% |
| Remuneration, social security and pensions | 62 | €72,199 | €78,985 | +€6,786 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,552 | €13,923 | -€630 | -4.3% |
| Other operating charges | 640/8 | €275 | €411 | +€136 | +49.6% |
| Gross operating margin | 9900 | €173,699 | €132,723 | -€40,976 | -23.6% |
| Operating profit (loss) | 9901 | €86,673 | €39,404 | -€47,269 | -54.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,918 | €696 | -€2,222 | -76.1% |
| Recurring financial charges | 65 | €2,918 | €696 | -€2,222 | -76.1% |
| Profit (loss) for the period before taxes | 9903 | €83,755 | €38,708 | -€45,047 | -53.8% |
| Income taxes | 67/77 | €22,377 | €10,756 | -€11,621 | -51.9% |
| Profit (loss) for the period | 9904 | €61,378 | €27,952 | -€33,426 | -54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,378 | €27,952 | -€33,426 | -54.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.