PIETERS CONSTRUCT: 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.
PIETERS CONSTRUCT
Largest movements
- Receivables within one year -€141,984
down €141,984 (-31.6%), from €448,832 to €306,848
of which Other amounts receivable: -€125,775
- Cash +€73,494
up €73,494 (+27.8%), from €264,827 to €338,321
mainly Receivables within one year (+€141,984) and Depreciation (+€25,939)
- Tangible fixed assets -€25,939
down €25,939 (-13.3%), from €194,432 to €168,493
of which Furniture and vehicles: -€18,589
- Stocks and contracts -€25,299
down €25,299 (-9.5%), from €266,617 to €241,318
of which Stocks: -€26,740
- Trade debts -€58,277
down €58,277 (-40.6%), from €143,510 to €85,234
- Debts after one year -€44,700
down €44,700 (-34.2%), from €130,590 to €85,890
of which Financial debts: -€44,700
- Gross operating margin +€3,140
up €3,140 (+8.0%), from €39,295 to €42,435
- Financial charges -€1,819
down €1,819 (-14.2%), from €12,841 to €11,022
- Other operating charges +€1,194
up €1,194 (+29.4%), from €4,065 to €5,259
- Financial income +€1,158
up €1,158 (+960.5%), from €121 to €1,279
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 | €1,179,044 | €1,066,346 | -€112,698 | -9.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €194,567 | €168,628 | -€25,939 | -13.3% |
| Tangible fixed assets | 22/27 | €194,432 | €168,493 | -€25,939 | -13.3% |
| Land and buildings | 22 | €140,660 | €133,310 | -€7,350 | -5.2% |
| Furniture and vehicles | 24 | €53,772 | €35,183 | -€18,589 | -34.6% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €984,477 | €897,718 | -€86,759 | -8.8% |
| Stocks and contracts in progress | 3 | €266,617 | €241,318 | -€25,299 | -9.5% |
| Stocks | 30/36 | €26,740 | - | -€26,740 | |
| Contracts in progress | 37 | €239,877 | €241,318 | +€1,441 | +0.6% |
| Amounts receivable within one year | 40/41 | €448,832 | €306,848 | -€141,984 | -31.6% |
| Trade receivables | 40 | €36,616 | €20,407 | -€16,209 | -44.3% |
| Other amounts receivable | 41 | €412,216 | €286,441 | -€125,775 | -30.5% |
| Cash at bank and in hand | 54/58 | €264,827 | €338,321 | +€73,494 | +27.8% |
| Deferred charges and accrued income | 490/1 | €4,201 | €11,231 | +€7,030 | +167.3% |
| Total equity and liabilities | 10/49 | €1,179,044 | €1,066,346 | -€112,698 | -9.6% |
| Equity | 10/15 | €817,724 | €819,218 | +€1,494 | +0.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €701,133 | €701,133 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €699,278 | €699,278 | = | 0.0% |
| Profit (loss) carried forward | 14 | €98,042 | €99,535 | +€1,494 | +1.5% |
| Amounts payable | 17/49 | €361,320 | €247,128 | -€114,192 | -31.6% |
| Amounts payable after more than one year | 17 | €130,590 | €85,890 | -€44,700 | -34.2% |
| Financial debts | 170/4 | €79,590 | €34,890 | -€44,700 | -56.2% |
| Other amounts payable | 178/9 | €51,000 | €51,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €223,215 | €148,496 | -€74,719 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €44,725 | €44,700 | -€25 | -0.1% |
| Financial debts | 43 | €10,000 | - | -€10,000 | |
| Credit institutions | 430/8 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €143,510 | €85,234 | -€58,277 | -40.6% |
| Suppliers | 440/4 | €143,510 | €85,234 | -€58,277 | -40.6% |
| Taxes, remuneration and social security | 45 | €21,980 | €15,562 | -€6,418 | -29.2% |
| Taxes | 450/3 | €21,980 | €15,562 | -€6,418 | -29.2% |
| Other amounts payable | 47/48 | €3,000 | €3,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,515 | €12,742 | +€5,227 | +69.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,147 | €25,939 | -€208 | -0.8% |
| Other operating charges | 640/8 | €4,065 | €5,259 | +€1,194 | +29.4% |
| Gross operating margin | 9900 | €39,295 | €42,435 | +€3,140 | +8.0% |
| Operating profit (loss) | 9901 | €9,084 | €11,237 | +€2,153 | +23.7% |
| Financial income | 75/76B | €121 | €1,279 | +€1,158 | +960.5% |
| Recurring financial income | 75 | €121 | €1,279 | +€1,158 | +960.5% |
| Financial charges | 65/66B | €12,841 | €11,022 | -€1,819 | -14.2% |
| Recurring financial charges | 65 | €12,841 | €11,022 | -€1,819 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,637 | €1,494 | +€5,130 | |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100.0% |
| Profit (loss) for the period | 9904 | -€3,637 | €1,494 | +€5,131 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,637 | €1,494 | +€5,131 |
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 11 October 2026 via checked.be.