Pietrain Junior: 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.
Pietrain Junior
Largest movements
- Receivables within one year +€19,666
up €19,666 (+198%), from €9,910 to €29,576
of which Other amounts receivable: +€19,929
- Tangible fixed assets +€18,256
up €18,256 (+50.7%), from €36,008 to €54,264
of which Plant, machinery and equipment: +€24,290
- Intangible fixed assets -€9,233
down €9,233 (-100%), from €9,233 to €0
- Cash -€5,965
down €5,965 (-3.2%), from €189,097 to €183,132
mainly Contributions, distributions and other (-€150,000) and Investment in fixed assets (net) (-€31,325)
- Other debts +€92,381
up €92,381 (+263%), from €35,119 to €127,500
- Profit (loss) carried forward -€79,333
down €79,333 (-84.4%), from €94,013 to €14,679
- Reserves -€32,870
down €32,870 (-32.0%), from €102,870 to €70,000
- Tax, wage and social debts +€23,701
up €23,701 (+623%), from €3,803 to €27,505
- Current portion of long-term debt +€14,390
new in 2025: €14,390
- Gross operating margin +€8,848
up €8,848 (+12.4%), from €71,202 to €80,050
- Taxes -€2,438
down €2,438 (-20.0%), from €12,187 to €9,749
- Financial charges +€1,913
up €1,913 (+84.3%), from €2,270 to €4,183
- Financial income -€1,797
down €1,797 (-73.2%), from €2,454 to €658
- Depreciation +€1,272
up €1,272 (+6.0%), from €21,030 to €22,301
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €278,583 | €298,888 | +€20,305 | +7.3% |
| Fixed assets | 21/28 | €45,240 | €54,264 | +€9,023 | +19.9% |
| Intangible fixed assets | 21 | €9,233 | €0 | -€9,233 | -100% |
| Tangible fixed assets | 22/27 | €36,008 | €54,264 | +€18,256 | +50.7% |
| Plant, machinery and equipment | 23 | €16,939 | €41,229 | +€24,290 | +143% |
| Furniture and vehicles | 24 | €6,856 | €4,692 | -€2,163 | -31.6% |
| Other tangible fixed assets | 26 | €12,213 | €8,342 | -€3,870 | -31.7% |
| Current assets | 29/58 | €233,342 | €244,624 | +€11,282 | +4.8% |
| Stocks and contracts in progress | 3 | €31,175 | €28,429 | -€2,746 | -8.8% |
| Stocks | 30/36 | €31,175 | €28,429 | -€2,746 | -8.8% |
| Amounts receivable within one year | 40/41 | €9,910 | €29,576 | +€19,666 | +198% |
| Trade receivables | 40 | €3,040 | €2,777 | -€263 | -8.7% |
| Other amounts receivable | 41 | €6,870 | €26,799 | +€19,929 | +290% |
| Cash at bank and in hand | 54/58 | €189,097 | €183,132 | -€5,965 | -3.2% |
| Deferred charges and accrued income | 490/1 | €3,160 | €3,487 | +€327 | +10.3% |
| Total equity and liabilities | 10/49 | €278,583 | €298,888 | +€20,305 | +7.3% |
| Equity | 10/15 | €215,482 | €103,279 | -€112,203 | -52.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €102,870 | €70,000 | -€32,870 | -32.0% |
| Distributable reserves | 133 | €102,870 | €70,000 | -€32,870 | -32.0% |
| Profit (loss) carried forward | 14 | €94,013 | €14,679 | -€79,333 | -84.4% |
| Amounts payable | 17/49 | €63,100 | €195,609 | +€132,508 | +210% |
| Amounts payable after more than one year | 17 | - | €9,867 | +€9,867 | |
| Financial debts | 170/4 | - | €9,867 | +€9,867 | |
| Amounts payable within one year | 42/48 | €63,100 | €185,742 | +€122,641 | +194% |
| Current portion of amounts payable after more than one year | 42 | - | €14,390 | +€14,390 | |
| Financial debts | 43 | €4,193 | €6,814 | +€2,621 | +62.5% |
| Credit institutions | 430/8 | €4,193 | €6,814 | +€2,621 | +62.5% |
| Trade debts | 44 | €19,985 | €9,533 | -€10,451 | -52.3% |
| Suppliers | 440/4 | €19,985 | €9,533 | -€10,451 | -52.3% |
| Taxes, remuneration and social security | 45 | €3,803 | €27,505 | +€23,701 | +623% |
| Taxes | 450/3 | €3,803 | €27,505 | +€23,701 | +623% |
| Other amounts payable | 47/48 | €35,119 | €127,500 | +€92,381 | +263% |
| Remuneration, social security and pensions | 62 | €344 | €1,139 | +€795 | +231% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,030 | €22,301 | +€1,272 | +6.0% |
| Other operating charges | 640/8 | €4,426 | €5,539 | +€1,113 | +25.2% |
| Gross operating margin | 9900 | €71,202 | €80,050 | +€8,848 | +12.4% |
| Operating profit (loss) | 9901 | €45,403 | €51,071 | +€5,668 | +12.5% |
| Financial income | 75/76B | €2,454 | €658 | -€1,797 | -73.2% |
| Recurring financial income | 75 | €2,454 | €658 | -€1,797 | -73.2% |
| Financial charges | 65/66B | €2,270 | €4,183 | +€1,913 | +84.3% |
| Recurring financial charges | 65 | €2,270 | €4,183 | +€1,913 | +84.3% |
| Profit (loss) for the period before taxes | 9903 | €45,588 | €47,546 | +€1,958 | +4.3% |
| Income taxes | 67/77 | €12,187 | €9,749 | -€2,438 | -20.0% |
| Profit (loss) for the period | 9904 | €33,401 | €37,797 | +€4,396 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,401 | €37,797 | +€4,396 | +13.2% |
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 26 October 2026 via checked.be.