Pigalles: 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.
Pigalles
Largest movements
- Receivables within one year -€120,610
down €120,610 (-58.2%), from €207,367 to €86,757
of which Other amounts receivable: -€125,110
- Tangible fixed assets -€3,166
down €3,166 (-30.2%), from €10,502 to €7,336
of which Furniture and vehicles: -€2,480
- Other debts -€77,343
down €77,343 (-99.8%), from €77,494 to €151
- Reserves -€41,855
down €41,855 (-49.3%), from €84,880 to €43,025
- Debts after one year -€9,089
down €9,089 (-10.2%), from €88,995 to €79,906
- Accrued charges and deferred income +€3,197
up €3,197 (+124.8%), from €2,561 to €5,758
- Gross operating margin -€55,696
down €55,696 (-45.3%), from €122,822 to €67,126
- Taxes -€14,137
down €14,137 (-45.6%), from €31,037 to €16,900
- Financial charges +€2,269
up €2,269 (+47.3%), from €4,801 to €7,070
- Financial income +€1,693
up €1,693 (+91.6%), from €1,847 to €3,540
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €284,106 | €160,006 | -€124,101 | -43.7% |
| Fixed assets | 21/28 | €42,502 | €39,336 | -€3,166 | -7.5% |
| Tangible fixed assets | 22/27 | €10,502 | €7,336 | -€3,166 | -30.2% |
| Plant, machinery and equipment | 23 | €1,373 | €687 | -€687 | -50.0% |
| Furniture and vehicles | 24 | €9,129 | €6,649 | -€2,480 | -27.2% |
| Financial fixed assets | 28 | €32,000 | €32,000 | = | 0.0% |
| Current assets | 29/58 | €241,604 | €120,670 | -€120,934 | -50.1% |
| Amounts receivable within one year | 40/41 | €207,367 | €86,757 | -€120,610 | -58.2% |
| Trade receivables | 40 | - | €4,500 | +€4,500 | |
| Other amounts receivable | 41 | €207,367 | €82,257 | -€125,110 | -60.3% |
| Cash at bank and in hand | 54/58 | €26,811 | €28,077 | +€1,266 | +4.7% |
| Deferred charges and accrued income | 490/1 | €7,426 | €5,836 | -€1,591 | -21.4% |
| Total equity and liabilities | 10/49 | €284,106 | €160,006 | -€124,101 | -43.7% |
| Equity | 10/15 | €103,480 | €61,625 | -€41,855 | -40.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,880 | €43,025 | -€41,855 | -49.3% |
| Distributable reserves | 133 | €84,880 | €43,025 | -€41,855 | -49.3% |
| Amounts payable | 17/49 | €180,626 | €98,380 | -€82,246 | -45.5% |
| Amounts payable after more than one year | 17 | €88,995 | €79,906 | -€9,089 | -10.2% |
| Financial debts | 170/4 | €88,995 | €79,906 | -€9,089 | -10.2% |
| Amounts payable within one year | 42/48 | €89,070 | €12,716 | -€76,354 | -85.7% |
| Current portion of amounts payable after more than one year | 42 | €8,835 | €9,089 | +€254 | +2.9% |
| Trade debts | 44 | €1,900 | €1,091 | -€809 | -42.6% |
| Suppliers | 440/4 | €1,900 | €1,091 | -€809 | -42.6% |
| Taxes, remuneration and social security | 45 | €841 | €2,385 | +€1,544 | +183.7% |
| Taxes | 450/3 | €841 | €1,157 | +€317 | +37.7% |
| Remuneration and social security | 454/9 | - | €1,227 | +€1,227 | |
| Other amounts payable | 47/48 | €77,494 | €151 | -€77,343 | -99.8% |
| Accrued charges and deferred income | 492/3 | €2,561 | €5,758 | +€3,197 | +124.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,458 | €3,166 | -€291 | -8.4% |
| Other operating charges | 640/8 | €494 | €506 | +€12 | +2.3% |
| Gross operating margin | 9900 | €122,822 | €67,126 | -€55,696 | -45.3% |
| Operating profit (loss) | 9901 | €118,870 | €63,454 | -€55,416 | -46.6% |
| Financial income | 75/76B | €1,847 | €3,540 | +€1,693 | +91.6% |
| Recurring financial income | 75 | €1,847 | €3,540 | +€1,693 | +91.6% |
| Financial charges | 65/66B | €4,801 | €7,070 | +€2,269 | +47.3% |
| Recurring financial charges | 65 | €4,801 | €7,070 | +€2,269 | +47.3% |
| Profit (loss) for the period before taxes | 9903 | €115,917 | €59,925 | -€55,992 | -48.3% |
| Income taxes | 67/77 | €31,037 | €16,900 | -€14,137 | -45.6% |
| Profit (loss) for the period | 9904 | €84,880 | €43,025 | -€41,855 | -49.3% |
| Profit (loss) for the period to be appropriated | 9905 | €84,880 | €43,025 | -€41,855 | -49.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.