PIETRO-DESIGN: 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
PIETRO-DESIGN
NACE 46.432, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€46,047
2024 · €2,079-€48,127
Equity
€1.2m
2024 · €1.3m-€46,047
Cash
€56,349
2024 · €50,916+€5,433
Balance sheet total
€1.4m
2024 · €1.4m-€74,029
Largest movements
Assets
- Receivables within one year -€90,781
down €90,781 (-18.0%), from €505,320 to €414,539
of which Other amounts receivable: -€80,112
Equity and liabilities
- Profit (loss) carried forward -€41,909
down €41,909 (-48.9%), from -€85,700 to -€127,609
- Other debts -€16,747
down €16,747 (-31.7%), from €52,846 to €36,099
- Debts after one year +€14,437
up €14,437 (+23.9%), from €60,356 to €74,792
Income statement
- Gross operating margin -€18,741
down €18,741 (-55.4%), from €33,830 to €15,090
- Financial income -€12,954
down €12,954 (-92.3%), from €14,028 to €1,074
- Other operating charges +€12,179
up €12,179 (+305%), from €3,990 to €16,168
- Depreciation +€6,113
up €6,113 (+16.3%), from €37,513 to €43,626
- Financial charges +€374
up €374 (+13.0%), from €2,870 to €3,244
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
€2,079
Gross operating margin
-€18,741
Staff costs
+€180
Depreciation
-€6,113
Other operating charges
-€12,179
Other operating items
+€2,008
Financial income
-€12,954
Financial charges
-€374
Taxes
+€44
Result 2025
-€46,047
raises the resultlowers the resultnot broken down further in the accounts
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
+€64,449
Investment
-€55,215
Financing
-€3,801
Cash 2024
€50,916
From operations (derived)
+€64,449
Net result for the year
-€46,047
Depreciation
+€43,626
Receivables within one year
+€90,781
Deferred charges and accrued income
+€270
Provisions
-€1,157
Trade debts
+€1,427
Tax, wage and social debts
-€7,702
Other debts
-€16,747
Investment (derived)
-€55,215
Investment in fixed assets (net)
-€55,215
Financing
-€3,801
Debts after one year
+€14,437
Current portion of long-term debt
-€9,413
Short-term financial debts
-€8,825
Cash 2025
€56,349
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,437,954 | €1,363,925 | -€74,029 | -5.1% |
| Fixed assets | 21/28 | €878,186 | €889,776 | +€11,590 | +1.3% |
| Tangible fixed assets | 22/27 | €868,788 | €880,378 | +€11,590 | +1.3% |
| Land and buildings | 22 | €818,186 | €842,539 | +€24,353 | +3.0% |
| Furniture and vehicles | 24 | €45,497 | €32,734 | -€12,763 | -28.1% |
| Other tangible fixed assets | 26 | €5,105 | €5,105 | = | 0.0% |
| Financial fixed assets | 28 | €9,398 | €9,398 | = | 0.0% |
| Current assets | 29/58 | €559,767 | €474,149 | -€85,618 | -15.3% |
| Amounts receivable within one year | 40/41 | €505,320 | €414,539 | -€90,781 | -18.0% |
| Trade receivables | 40 | €11,167 | €499 | -€10,669 | -95.5% |
| Other amounts receivable | 41 | €494,152 | €414,040 | -€80,112 | -16.2% |
| Current investments | 50/53 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €50,916 | €56,349 | +€5,433 | +10.7% |
| Deferred charges and accrued income | 490/1 | €2,531 | €2,262 | -€270 | -10.7% |
| Total equity and liabilities | 10/49 | €1,437,954 | €1,363,925 | -€74,029 | -5.1% |
| Equity | 10/15 | €1,261,000 | €1,214,953 | -€46,047 | -3.7% |
| Contributions | 10/11 | €390,000 | €390,000 | = | 0.0% |
| Reserves | 13 | €956,701 | €952,562 | -€4,139 | -0.4% |
| Non-distributable reserves | 130/1 | €17,507 | €17,507 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,507 | €17,507 | = | 0.0% |
| Tax-exempt reserves | 132 | €107,605 | €103,466 | -€4,139 | -3.8% |
| Distributable reserves | 133 | €831,589 | €831,589 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€85,700 | -€127,609 | -€41,909 | -48.9% |
| Provisions and deferred taxes | 16 | €30,091 | €28,933 | -€1,157 | -3.8% |
| Deferred taxes | 168 | €30,091 | €28,933 | -€1,157 | -3.8% |
| Amounts payable | 17/49 | €146,863 | €120,039 | -€26,824 | -18.3% |
| Amounts payable after more than one year | 17 | €60,356 | €74,792 | +€14,437 | +23.9% |
| Financial debts | 170/4 | €60,356 | €74,792 | +€14,437 | +23.9% |
| Amounts payable within one year | 42/48 | €86,507 | €45,247 | -€41,261 | -47.7% |
| Current portion of amounts payable after more than one year | 42 | €10,291 | €878 | -€9,413 | -91.5% |
| Financial debts | 43 | €8,825 | - | -€8,825 | |
| Credit institutions | 430/8 | €8,825 | - | -€8,825 | |
| Trade debts | 44 | - | €1,427 | +€1,427 | |
| Suppliers | 440/4 | - | €1,427 | +€1,427 | |
| Taxes, remuneration and social security | 45 | €14,545 | €6,843 | -€7,702 | -53.0% |
| Taxes | 450/3 | €14,545 | €6,843 | -€7,702 | -53.0% |
| Other amounts payable | 47/48 | €52,846 | €36,099 | -€16,747 | -31.7% |
| Remuneration, social security and pensions | 62 | €180 | - | -€180 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,513 | €43,626 | +€6,113 | +16.3% |
| Other operating charges | 640/8 | €3,990 | €16,168 | +€12,179 | +305% |
| Non-recurring operating charges | 66A | €2,008 | - | -€2,008 | |
| Gross operating margin | 9900 | €33,830 | €15,090 | -€18,741 | -55.4% |
| Operating profit (loss) | 9901 | -€9,861 | -€44,704 | -€34,844 | -353% |
| Financial income | 75/76B | €14,028 | €1,074 | -€12,954 | -92.3% |
| Recurring financial income | 75 | €14,028 | €1,074 | -€12,954 | -92.3% |
| Financial charges | 65/66B | €2,870 | €3,244 | +€374 | +13.0% |
| Recurring financial charges | 65 | €2,870 | €3,244 | +€374 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €1,297 | -€46,874 | -€48,171 | |
| Transfer from deferred taxes | 780 | €1,157 | €1,157 | = | 0.0% |
| Income taxes | 67/77 | €375 | €331 | -€44 | -11.8% |
| Profit (loss) for the period | 9904 | €2,079 | -€46,047 | -€48,127 | |
| Transfer from tax-exempt reserves | 789 | €4,139 | €4,139 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,218 | -€41,909 | -€48,127 |
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.