PILCHARD: 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.
PILCHARD
Largest movements
- Receivables within one year +€3,224
up €3,224 (+394%), from €818 to €4,042
of which Other amounts receivable: +€2,419
- Tangible fixed assets +€2,158
up €2,158 (+1.8%), from €122,509 to €124,668
- Reserves +€6,580
up €6,580 (+58.0%), from €11,341 to €17,921
- Current portion of long-term debt -€3,388
down €3,388 (-49.2%), from €6,888 to €3,500
- Gross operating margin -€4,340
down €4,340 (-19.8%), from €21,882 to €17,543
- Taxes -€1,562
down €1,562 (-32.2%), from €4,854 to €3,293
- Other operating charges +€1,077
up €1,077 (+239%), from €451 to €1,528
- Financial charges -€526
down €526 (-94.0%), from €559 to €33
- Depreciation -€446
down €446 (-6.8%), from €6,582 to €6,136
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.
Derived cash bridge
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 | €125,473 | €130,775 | +€5,302 | +4.2% |
| Fixed assets | 21/28 | €122,509 | €124,668 | +€2,158 | +1.8% |
| Tangible fixed assets | 22/27 | €122,509 | €124,668 | +€2,158 | +1.8% |
| Land and buildings | 22 | €122,509 | €124,668 | +€2,158 | +1.8% |
| Current assets | 29/58 | €2,963 | €6,107 | +€3,144 | +106% |
| Amounts receivable within one year | 40/41 | €818 | €4,042 | +€3,224 | +394% |
| Trade receivables | 40 | €45 | €850 | +€805 | +1,776% |
| Other amounts receivable | 41 | €772 | €3,192 | +€2,419 | +313% |
| Cash at bank and in hand | 54/58 | €2,146 | €2,066 | -€80 | -3.7% |
| Total equity and liabilities | 10/49 | €125,473 | €130,775 | +€5,302 | +4.2% |
| Equity | 10/15 | €106,748 | €113,328 | +€6,580 | +6.2% |
| Contributions | 10/11 | €17,100 | €17,100 | = | 0.0% |
| Reserves | 13 | €11,341 | €17,921 | +€6,580 | +58.0% |
| Distributable reserves | 133 | €11,341 | €17,921 | +€6,580 | +58.0% |
| Profit (loss) carried forward | 14 | €78,308 | €78,308 | = | 0.0% |
| Amounts payable | 17/49 | €18,725 | €17,446 | -€1,278 | -6.8% |
| Amounts payable within one year | 42/48 | €18,725 | €17,421 | -€1,304 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €6,888 | €3,500 | -€3,388 | -49.2% |
| Trade debts | 44 | - | €850 | +€850 | |
| Suppliers | 440/4 | - | €850 | +€850 | |
| Taxes, remuneration and social security | 45 | €7,631 | €8,147 | +€516 | +6.8% |
| Taxes | 450/3 | €7,631 | €8,147 | +€516 | +6.8% |
| Other amounts payable | 47/48 | €4,205 | €4,924 | +€719 | +17.1% |
| Accrued charges and deferred income | 492/3 | - | €26 | +€26 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,582 | €6,136 | -€446 | -6.8% |
| Other operating charges | 640/8 | €451 | €1,528 | +€1,077 | +239% |
| Gross operating margin | 9900 | €21,882 | €17,543 | -€4,340 | -19.8% |
| Operating profit (loss) | 9901 | €14,849 | €9,878 | -€4,970 | -33.5% |
| Financial income | 75/76B | €45 | €28 | -€18 | -39.0% |
| Recurring financial income | 75 | €45 | €28 | -€18 | -39.0% |
| Financial charges | 65/66B | €559 | €33 | -€526 | -94.0% |
| Recurring financial charges | 65 | €559 | €33 | -€526 | -94.0% |
| Profit (loss) for the period before taxes | 9903 | €14,335 | €9,873 | -€4,462 | -31.1% |
| Income taxes | 67/77 | €4,854 | €3,293 | -€1,562 | -32.2% |
| Profit (loss) for the period | 9904 | €9,481 | €6,580 | -€2,901 | -30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,481 | €6,580 | -€2,901 | -30.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.