PILA: 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.
PILA
Largest movements
- Cash -€114,429
down €114,429 (-73.9%), from €154,832 to €40,403
mainly Stocks and contracts (-€105,367) and Trade debts (-€90,937)
- Stocks and contracts +€105,367
up €105,367 (+27.7%), from €380,256 to €485,623
- Receivables within one year -€60,626
down €60,626 (-19.8%), from €306,144 to €245,519
of which Trade receivables: -€62,626
- Trade debts -€90,937
down €90,937 (-27.1%), from €335,207 to €244,270
- Short-term financial debts +€24,448
up €24,448 (+24.4%), from €100,000 to €124,448
- Current portion of long-term debt -€18,966
no longer reported in 2025 (was €18,966)
- Profit (loss) carried forward +€9,666
up €9,666 (+5.5%), from €174,873 to €184,539
- Gross operating margin -€47,239
down €47,239 (-14.0%), from €337,946 to €290,707
- Staff costs -€22,891
down €22,891 (-7.3%), from €312,846 to €289,955
- Other operating charges -€17,692
down €17,692 (-76.1%), from €23,251 to €5,559
- Financial income +€6,943
up €6,943 (+23.9%), from €29,009 to €35,952
- Taxes -€4,896
down €4,896 (-38.4%), from €12,749 to €7,854
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 | €854,084 | €788,142 | -€65,942 | -7.7% |
| Fixed assets | 21/28 | €8,416 | €5,427 | -€2,989 | -35.5% |
| Tangible fixed assets | 22/27 | €5,341 | €2,352 | -€2,989 | -56.0% |
| Furniture and vehicles | 24 | €5,341 | €2,352 | -€2,989 | -56.0% |
| Financial fixed assets | 28 | €3,075 | €3,075 | = | 0.0% |
| Current assets | 29/58 | €845,667 | €782,715 | -€62,952 | -7.4% |
| Stocks and contracts in progress | 3 | €380,256 | €485,623 | +€105,367 | +27.7% |
| Stocks | 30/36 | €380,256 | €485,623 | +€105,367 | +27.7% |
| Amounts receivable within one year | 40/41 | €306,144 | €245,519 | -€60,626 | -19.8% |
| Trade receivables | 40 | €135,203 | €72,578 | -€62,626 | -46.3% |
| Other amounts receivable | 41 | €170,941 | €172,941 | +€2,000 | +1.2% |
| Cash at bank and in hand | 54/58 | €154,832 | €40,403 | -€114,429 | -73.9% |
| Deferred charges and accrued income | 490/1 | €4,435 | €11,170 | +€6,735 | +151.9% |
| Total equity and liabilities | 10/49 | €854,084 | €788,142 | -€65,942 | -7.7% |
| Equity | 10/15 | €216,900 | €226,566 | +€9,666 | +4.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €22,027 | €22,027 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,202 | €2,202 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,202 | €2,202 | = | 0.0% |
| Distributable reserves | 133 | €19,825 | €19,825 | = | 0.0% |
| Profit (loss) carried forward | 14 | €174,873 | €184,539 | +€9,666 | +5.5% |
| Amounts payable | 17/49 | €637,183 | €561,576 | -€75,608 | -11.9% |
| Amounts payable within one year | 42/48 | €637,183 | €561,576 | -€75,608 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €18,966 | - | -€18,966 | |
| Financial debts | 43 | €100,000 | €124,448 | +€24,448 | +24.4% |
| Credit institutions | 430/8 | €100,000 | €124,448 | +€24,448 | +24.4% |
| Trade debts | 44 | €335,207 | €244,270 | -€90,937 | -27.1% |
| Suppliers | 440/4 | €335,207 | €244,270 | -€90,937 | -27.1% |
| Taxes, remuneration and social security | 45 | €164,112 | €170,915 | +€6,803 | +4.1% |
| Taxes | 450/3 | €120,263 | €131,588 | +€11,326 | +9.4% |
| Remuneration and social security | 454/9 | €43,849 | €39,327 | -€4,523 | -10.3% |
| Other amounts payable | 47/48 | €18,899 | €21,943 | +€3,044 | +16.1% |
| Remuneration, social security and pensions | 62 | €312,846 | €289,955 | -€22,891 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,164 | €2,989 | -€1,175 | -28.2% |
| Other operating charges | 640/8 | €23,251 | €5,559 | -€17,692 | -76.1% |
| Gross operating margin | 9900 | €337,946 | €290,707 | -€47,239 | -14.0% |
| Operating profit (loss) | 9901 | -€2,316 | -€7,796 | -€5,480 | -236.7% |
| Financial income | 75/76B | €29,009 | €35,952 | +€6,943 | +23.9% |
| Recurring financial income | 75 | €29,009 | €35,952 | +€6,943 | +23.9% |
| Financial charges | 65/66B | €13,950 | €10,637 | -€3,313 | -23.8% |
| Recurring financial charges | 65 | €13,950 | €10,637 | -€3,313 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €12,744 | €17,520 | +€4,776 | +37.5% |
| Income taxes | 67/77 | €12,749 | €7,854 | -€4,896 | -38.4% |
| Profit (loss) for the period | 9904 | -€6 | €9,666 | +€9,672 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6 | €9,666 | +€9,672 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.