Pilar: 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.
Pilar
Largest movements
- Tangible fixed assets -€88,003
down €88,003 (-4.0%), from €2.2m to €2.1m
- Receivables within one year +€34,191
new in 2025: €34,191
- Debts after one year -€123,529
down €123,529 (-6.1%), from €2.0m to €1.9m
- Trade debts +€29,170
up €29,170 (+99.2%), from €29,418 to €58,588
- Gross operating margin +€144,630
up €144,630 (+255.9%), from €56,524 to €201,153
- Depreciation +€64,663
up €64,663 (+138.5%), from €46,674 to €111,338
- Other operating charges +€15,013
up €15,013 (+995.3%), from €1,508 to €16,521
- Financial charges -€13,409
down €13,409 (-17.4%), from €77,262 to €63,853
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 | €2,222,674 | €2,144,815 | -€77,859 | -3.5% |
| Fixed assets | 21/28 | €2,185,306 | €2,097,303 | -€88,003 | -4.0% |
| Tangible fixed assets | 22/27 | €2,185,306 | €2,097,303 | -€88,003 | -4.0% |
| Land and buildings | 22 | €2,185,306 | €2,097,303 | -€88,003 | -4.0% |
| Current assets | 29/58 | €37,368 | €47,512 | +€10,145 | +27.1% |
| Amounts receivable within one year | 40/41 | - | €34,191 | +€34,191 | |
| Trade receivables | 40 | - | €34,191 | +€34,191 | |
| Cash at bank and in hand | 54/58 | €33,338 | €13,321 | -€20,017 | -60.0% |
| Deferred charges and accrued income | 490/1 | €4,030 | - | -€4,030 | |
| Total equity and liabilities | 10/49 | €2,222,674 | €2,144,815 | -€77,859 | -3.5% |
| Equity | 10/15 | -€69,063 | -€63,652 | +€5,411 | +7.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Outside capital | 11 | €62,000 | €62,000 | = | 0.0% |
| Other | 1109/19 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €24,415 | €24,415 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,670 | €3,670 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,670 | €3,670 | = | 0.0% |
| Distributable reserves | 133 | €20,745 | €20,745 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€155,478 | -€150,067 | +€5,411 | +3.5% |
| Amounts payable | 17/49 | €2,291,737 | €2,208,468 | -€83,270 | -3.6% |
| Amounts payable after more than one year | 17 | €2,014,176 | €1,890,647 | -€123,529 | -6.1% |
| Financial debts | 170/4 | €2,014,176 | €1,890,647 | -€123,529 | -6.1% |
| Amounts payable within one year | 42/48 | €277,561 | €317,821 | +€40,260 | +14.5% |
| Current portion of amounts payable after more than one year | 42 | €123,529 | €123,529 | = | 0.0% |
| Trade debts | 44 | €29,418 | €58,588 | +€29,170 | +99.2% |
| Suppliers | 440/4 | €29,418 | €58,588 | +€29,170 | +99.2% |
| Taxes, remuneration and social security | 45 | €7,113 | €11,424 | +€4,311 | +60.6% |
| Taxes | 450/3 | €7,113 | €11,424 | +€4,311 | +60.6% |
| Other amounts payable | 47/48 | €117,500 | €124,279 | +€6,779 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,674 | €111,338 | +€64,663 | +138.5% |
| Other operating charges | 640/8 | €1,508 | €16,521 | +€15,013 | +995.3% |
| Non-recurring operating charges | 66A | - | €4,030 | +€4,030 | |
| Gross operating margin | 9900 | €56,524 | €201,153 | +€144,630 | +255.9% |
| Operating profit (loss) | 9901 | €8,341 | €69,264 | +€60,923 | +730.4% |
| Financial charges | 65/66B | €77,262 | €63,853 | -€13,409 | -17.4% |
| Recurring financial charges | 65 | €77,262 | €63,853 | -€13,409 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | -€68,921 | €5,411 | +€74,332 | |
| Profit (loss) for the period | 9904 | -€68,921 | €5,411 | +€74,332 | |
| Profit (loss) for the period to be appropriated | 9905 | -€68,921 | €5,411 | +€74,332 |
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.