PIKAERTS: what changed
Two fiscal 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.
PIKAERTS
Largest movements
- Receivables within one year +€1.2m
up €1.2m (+3688.3%), from €31,453 to €1.2m
of which Trade receivables: +€1.2m
- Tangible fixed assets -€206,218
down €206,218 (-7.3%), from €2.8m to €2.6m
of which Land and buildings: -€108,777
- Cash +€101,288
up €101,288 (+221.9%), from €45,644 to €146,932
mainly Debts after one year (+€916,234) and Depreciation (+€170,753)
- Stocks and contracts -€66,469
down €66,469 (-15.6%), from €426,319 to €359,850
- Debts after one year +€916,234
up €916,234 (+45.1%), from €2.0m to €2.9m
of which Financial debts: +€916,234
- Reserves +€79,503
up €79,503 (+48.0%), from €165,756 to €245,259
- Gross operating margin +€89,831
up €89,831 (+30.3%), from €296,420 to €386,251
- Write-downs +€37,733
new in 2024: €37,733
- Financial charges +€21,951
up €21,951 (+68.1%), from €32,226 to €54,177
- Taxes +€10,998
new in 2024: €10,998
- Other operating charges +€10,459
up €10,459 (+46.0%), from €22,760 to €33,219
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,345,075 | €4,331,017 | +€985,942 | +29.5% |
| Fixed assets | 21/28 | €2,838,912 | €2,632,695 | -€206,218 | -7.3% |
| Tangible fixed assets | 22/27 | €2,838,912 | €2,632,695 | -€206,218 | -7.3% |
| Land and buildings | 22 | €2,499,618 | €2,390,841 | -€108,777 | -4.4% |
| Plant, machinery and equipment | 23 | €219,278 | €161,427 | -€57,850 | -26.4% |
| Furniture and vehicles | 24 | €44,868 | €22,968 | -€21,900 | -48.8% |
| Leasing and similar rights | 25 | €9,174 | €6,346 | -€2,828 | -30.8% |
| Other tangible fixed assets | 26 | €65,975 | €51,113 | -€14,862 | -22.5% |
| Current assets | 29/58 | €506,163 | €1,698,322 | +€1.2m | +235.5% |
| Stocks and contracts in progress | 3 | €426,319 | €359,850 | -€66,469 | -15.6% |
| Stocks | 30/36 | €426,319 | €359,850 | -€66,469 | -15.6% |
| Amounts receivable within one year | 40/41 | €31,453 | €1,191,540 | +€1.2m | +3688.3% |
| Trade receivables | 40 | €3,000 | €1,185,157 | +€1.2m | +39405.2% |
| Other amounts receivable | 41 | €28,453 | €6,383 | -€22,070 | -77.6% |
| Cash at bank and in hand | 54/58 | €45,644 | €146,932 | +€101,288 | +221.9% |
| Deferred charges and accrued income | 490/1 | €2,747 | - | -€2,747 | |
| Total equity and liabilities | 10/49 | €3,345,075 | €4,331,017 | +€985,942 | +29.5% |
| Equity | 10/15 | €180,756 | €260,259 | +€79,503 | +44.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €165,756 | €245,259 | +€79,503 | +48.0% |
| Distributable reserves | 133 | €165,756 | €245,259 | +€79,503 | +48.0% |
| Amounts payable | 17/49 | €3,164,319 | €4,070,758 | +€906,439 | +28.6% |
| Amounts payable after more than one year | 17 | €2,032,873 | €2,949,107 | +€916,234 | +45.1% |
| Financial debts | 170/4 | €1,870,676 | €2,786,910 | +€916,234 | +49.0% |
| Other amounts payable | 178/9 | €162,197 | €162,197 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,131,446 | €1,121,651 | -€9,795 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €165,402 | €197,259 | +€31,857 | +19.3% |
| Trade debts | 44 | €75,957 | €68,221 | -€7,737 | -10.2% |
| Suppliers | 440/4 | €75,957 | €68,221 | -€7,737 | -10.2% |
| Taxes, remuneration and social security | 45 | €15,373 | €16,895 | +€1,522 | +9.9% |
| Taxes | 450/3 | €15,373 | €16,895 | +€1,522 | +9.9% |
| Other amounts payable | 47/48 | €874,713 | €839,276 | -€35,437 | -4.1% |
| Non-recurring operating income | 76A | - | €178,036 | +€178,036 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €181,053 | €170,753 | -€10,300 | -5.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €37,733 | +€37,733 | |
| Other operating charges | 640/8 | €22,760 | €33,219 | +€10,459 | +46.0% |
| Gross operating margin | 9900 | €296,420 | €386,251 | +€89,831 | +30.3% |
| Operating profit (loss) | 9901 | €92,607 | €144,546 | +€51,939 | +56.1% |
| Financial income | 75/76B | €140 | €132 | -€8 | -5.7% |
| Recurring financial income | 75 | €140 | €132 | -€8 | -5.7% |
| Financial charges | 65/66B | €32,226 | €54,177 | +€21,951 | +68.1% |
| Recurring financial charges | 65 | €32,226 | €54,177 | +€21,951 | +68.1% |
| Profit (loss) for the period before taxes | 9903 | €60,521 | €90,501 | +€29,980 | +49.5% |
| Income taxes | 67/77 | - | €10,998 | +€10,998 | |
| Profit (loss) for the period | 9904 | €60,521 | €79,503 | +€18,982 | +31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €60,521 | €79,503 | +€18,982 | +31.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.