Pietercil Logistics: 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
Pietercil Logistics
NACE 52.100, Warehousing and storage
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€140,756
2024 · €72,369+€68,387
Equity
€5.5m
2024 · €5.4m+€140,756
Cash
€753,978
2024 · €368,067+€385,911
Balance sheet total
€6.1m
2024 · €6.1m-€15,077
Largest movements
Assets
- Receivables within one year -€746,076
down €746,076 (-57.9%), from €1.3m to €542,963
of which Other amounts receivable: -€416,993
- Cash +€385,911
up €385,911 (+105%), from €368,067 to €753,978
mainly Receivables within one year (+€746,076) and Depreciation (+€546,337)
- Tangible fixed assets +€303,150
up €303,150 (+6.9%), from €4.4m to €4.7m
of which Plant, machinery and equipment: +€661,769
Equity and liabilities
- Profit (loss) carried forward +€140,756
up €140,756 (+13.4%), from €1.0m to €1.2m
- Current portion of long-term debt -€84,250
no longer reported in 2025 (was €84,250)
- Trade debts -€66,860
down €66,860 (-12.7%), from €524,433 to €457,573
Income statement
- Staff costs -€129,232
down €129,232 (-20.9%), from €618,944 to €489,712
- Services and other goods +€120,939
up €120,939 (+5.2%), from €2.3m to €2.4m
- Depreciation -€57,782
down €57,782 (-9.6%), from €604,119 to €546,337
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.
Result 2024
€72,369
Turnover
+€14,426
Other operating income
-€4,555
Services and other goods
-€120,939
Staff costs
+€129,232
Depreciation
+€57,782
Other operating charges
+€14,999
Financial income
-€918
Financial charges
+€336
Taxes
-€21,976
Result 2025
€140,756
raises the resultlowers the result
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.
From operations
+€1.3m
Investment
-€849,487
Financing
-€84,250
Cash 2024
€368,067
From operations (derived)
+€1.3m
Net result for the year
+€140,756
Depreciation
+€546,337
Receivables within one year
+€746,076
Deferred charges and accrued income
-€41,938
Trade debts
-€66,860
Tax, wage and social debts
-€21,485
Accrued charges and deferred income
+€16,762
Investment (derived)
-€849,487
Investment in fixed assets (net)
-€849,487
Financing
-€84,250
Current portion of long-term debt
-€84,250
Cash 2025
€753,978
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,097,760 | €6,082,683 | -€15,077 | -0.2% |
| Fixed assets | 21/28 | €4,409,559 | €4,712,709 | +€303,150 | +6.9% |
| Tangible fixed assets | 22/27 | €4,409,559 | €4,712,709 | +€303,150 | +6.9% |
| Land and buildings | 22 | €3,595,670 | €3,250,280 | -€345,390 | -9.6% |
| Plant, machinery and equipment | 23 | €705,501 | €1,367,270 | +€661,769 | +93.8% |
| Furniture and vehicles | 24 | €55,544 | €45,897 | -€9,647 | -17.4% |
| Other tangible fixed assets | 26 | €40,849 | €40,849 | = | 0.0% |
| Assets under construction and advance payments | 27 | €11,995 | €8,413 | -€3,582 | -29.9% |
| Current assets | 29/58 | €1,688,201 | €1,369,974 | -€318,227 | -18.9% |
| Amounts receivable within one year | 40/41 | €1,289,039 | €542,963 | -€746,076 | -57.9% |
| Trade receivables | 40 | €790,562 | €461,479 | -€329,083 | -41.6% |
| Other amounts receivable | 41 | €498,477 | €81,484 | -€416,993 | -83.7% |
| Cash at bank and in hand | 54/58 | €368,067 | €753,978 | +€385,911 | +105% |
| Deferred charges and accrued income | 490/1 | €31,095 | €73,033 | +€41,938 | +135% |
| Total equity and liabilities | 10/49 | €6,097,760 | €6,082,683 | -€15,077 | -0.2% |
| Equity | 10/15 | €5,393,517 | €5,534,273 | +€140,756 | +2.6% |
| Contributions | 10/11 | €3,950,000 | €3,950,000 | = | 0.0% |
| Capital | 10 | €3,950,000 | €3,950,000 | = | 0.0% |
| Issued capital | 100 | €3,950,000 | €3,950,000 | = | 0.0% |
| Reserves | 13 | €395,000 | €395,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €395,000 | €395,000 | = | 0.0% |
| Legal reserve | 130 | €395,000 | €395,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,048,517 | €1,189,273 | +€140,756 | +13.4% |
| Amounts payable | 17/49 | €704,243 | €548,410 | -€155,833 | -22.1% |
| Amounts payable within one year | 42/48 | €684,633 | €512,038 | -€172,595 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €84,250 | - | -€84,250 | |
| Trade debts | 44 | €524,433 | €457,573 | -€66,860 | -12.7% |
| Suppliers | 440/4 | €524,433 | €457,573 | -€66,860 | -12.7% |
| Taxes, remuneration and social security | 45 | €75,950 | €54,465 | -€21,485 | -28.3% |
| Taxes | 450/3 | €1,188 | €1,723 | +€535 | +45.0% |
| Remuneration and social security | 454/9 | €74,762 | €52,742 | -€22,020 | -29.5% |
| Accrued charges and deferred income | 492/3 | €19,610 | €36,372 | +€16,762 | +85.5% |
| Operating income | 70/76A | €3,711,648 | €3,721,519 | +€9,871 | +0.3% |
| Turnover | 70 | €2,478,740 | €2,493,166 | +€14,426 | +0.6% |
| Other operating income | 74 | €1,232,908 | €1,228,353 | -€4,555 | -0.4% |
| Operating charges | 60/66A | €3,609,220 | €3,528,146 | -€81,074 | -2.2% |
| Services and other goods | 61 | €2,313,275 | €2,434,214 | +€120,939 | +5.2% |
| Remuneration, social security and pensions | 62 | €618,944 | €489,712 | -€129,232 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €604,119 | €546,337 | -€57,782 | -9.6% |
| Other operating charges | 640/8 | €72,882 | €57,883 | -€14,999 | -20.6% |
| Operating profit (loss) | 9901 | €102,428 | €193,373 | +€90,945 | +88.8% |
| Financial income | 75/76B | €3,578 | €2,660 | -€918 | -25.7% |
| Recurring financial income | 75 | €3,578 | €2,660 | -€918 | -25.7% |
| Income from current assets | 751 | €3,381 | €2,110 | -€1,271 | -37.6% |
| Other financial income | 752/9 | €197 | €550 | +€353 | +179% |
| Financial charges | 65/66B | €1,019 | €683 | -€336 | -33.0% |
| Recurring financial charges | 65 | €1,019 | €683 | -€336 | -33.0% |
| Debt charges | 650 | €16 | - | -€16 | |
| Other financial charges | 652/9 | €1,003 | €683 | -€320 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €104,987 | €195,350 | +€90,363 | +86.1% |
| Income taxes | 67/77 | €32,618 | €54,594 | +€21,976 | +67.4% |
| Taxes | 670/3 | €32,618 | €54,594 | +€21,976 | +67.4% |
| Profit (loss) for the period | 9904 | €72,369 | €140,756 | +€68,387 | +94.5% |
| Profit (loss) for the period to be appropriated | 9905 | €72,369 | €140,756 | +€68,387 | +94.5% |
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 22 October 2026 via checked.be.