PILAW: 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.
PILAW
Largest movements
- Receivables within one year +€15,022
up €15,022 (+130.6%), from €11,501 to €26,523
of which Other amounts receivable: +€9,167
- Cash -€13,462
down €13,462 (-99.6%), from €13,510 to €48
mainly Contributions, distributions and other (-€23,333) and Receivables within one year (-€15,022)
- Tangible fixed assets +€895
up €895 (+236.8%), from €378 to €1,272
of which Plant, machinery and equipment: +€1,272
- Deferred charges and accrued income -€306
down €306 (-72.7%), from €421 to €115
- Contributions -€15,000
down €15,000 (-80.6%), from €18,600 to €3,600
- Other debts +€8,333
new in 2025: €8,333
- Profit (loss) carried forward +€4,746
up €4,746, from -€3,117 to €1,630
- Trade debts +€3,210
up €3,210 (+270.1%), from €1,189 to €4,399
- Tax, wage and social debts -€2,710
down €2,710 (-29.7%), from €9,138 to €6,428
of which Taxes: -€2,710
- Gross operating margin -€7,824
down €7,824 (-29.5%), from €26,524 to €18,701
- Other operating charges -€836
down €836 (-39.2%), from €2,134 to €1,298
- Depreciation -€427
down €427 (-48.6%), from €878 to €452
- Financial income +€355
up €355 (+7880.3%), from €5 to €360
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 | €25,809 | €27,959 | +€2,149 | +8.3% |
| Fixed assets | 21/28 | €378 | €1,272 | +€895 | +236.8% |
| Tangible fixed assets | 22/27 | €378 | €1,272 | +€895 | +236.8% |
| Plant, machinery and equipment | 23 | - | €1,272 | +€1,272 | |
| Furniture and vehicles | 24 | €378 | €0 | -€378 | -100.0% |
| Current assets | 29/58 | €25,432 | €26,686 | +€1,255 | +4.9% |
| Amounts receivable within one year | 40/41 | €11,501 | €26,523 | +€15,022 | +130.6% |
| Trade receivables | 40 | €6,269 | €12,124 | +€5,855 | +93.4% |
| Other amounts receivable | 41 | €5,232 | €14,399 | +€9,167 | +175.2% |
| Cash at bank and in hand | 54/58 | €13,510 | €48 | -€13,462 | -99.6% |
| Deferred charges and accrued income | 490/1 | €421 | €115 | -€306 | -72.7% |
| Total equity and liabilities | 10/49 | €25,809 | €27,959 | +€2,149 | +8.3% |
| Equity | 10/15 | €15,483 | €5,230 | -€10,254 | -66.2% |
| Contributions | 10/11 | €18,600 | €3,600 | -€15,000 | -80.6% |
| Profit (loss) carried forward | 14 | -€3,117 | €1,630 | +€4,746 | |
| Amounts payable | 17/49 | €10,326 | €22,729 | +€12,403 | +120.1% |
| Amounts payable within one year | 42/48 | €10,326 | €21,354 | +€11,028 | +106.8% |
| Financial debts | 43 | - | €2,194 | +€2,194 | |
| Credit institutions | 430/8 | - | €2,194 | +€2,194 | |
| Trade debts | 44 | €1,189 | €4,399 | +€3,210 | +270.1% |
| Suppliers | 440/4 | €1,189 | €4,399 | +€3,210 | +270.1% |
| Taxes, remuneration and social security | 45 | €9,138 | €6,428 | -€2,710 | -29.7% |
| Taxes | 450/3 | €7,388 | €4,678 | -€2,710 | -36.7% |
| Remuneration and social security | 454/9 | €1,750 | €1,750 | = | 0.0% |
| Other amounts payable | 47/48 | - | €8,333 | +€8,333 | |
| Accrued charges and deferred income | 492/3 | - | €1,375 | +€1,375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €878 | €452 | -€427 | -48.6% |
| Other operating charges | 640/8 | €2,134 | €1,298 | -€836 | -39.2% |
| Gross operating margin | 9900 | €26,524 | €18,701 | -€7,824 | -29.5% |
| Operating profit (loss) | 9901 | €23,512 | €16,951 | -€6,562 | -27.9% |
| Financial income | 75/76B | €5 | €360 | +€355 | +7880.3% |
| Recurring financial income | 75 | €5 | €360 | +€355 | +7880.3% |
| Financial charges | 65/66B | €929 | €734 | -€196 | -21.1% |
| Recurring financial charges | 65 | €929 | €734 | -€196 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €22,587 | €16,577 | -€6,010 | -26.6% |
| Income taxes | 67/77 | €3,719 | €3,497 | -€222 | -6.0% |
| Profit (loss) for the period | 9904 | €18,868 | €13,079 | -€5,788 | -30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,868 | €13,079 | -€5,788 | -30.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.