PILERO: 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.
PILERO
Largest movements
- Current investments +€394,297
up €394,297 (+603%), from €65,384 to €459,681
- Cash -€241,042
down €241,042 (-44.2%), from €545,683 to €304,641
mainly Current investments (-€394,297) and Contributions, distributions and other (-€50,533)
- Reserves +€116,133
up €116,133 (+21.0%), from €553,390 to €669,523
- Other debts +€51,900
up €51,900 (+115%), from €45,313 to €97,213
- Trade debts -€15,186
down €15,186 (-28.2%), from €53,789 to €38,603
- Staff costs +€45,896
up €45,896 (+11.2%), from €407,985 to €453,881
- Taxes -€13,011
down €13,011 (-15.1%), from €86,076 to €73,065
- Gross operating margin +€12,870
up €12,870 (+1.8%), from €724,678 to €737,548
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 | €729,198 | €883,540 | +€154,342 | +21.2% |
| Fixed assets | 21/28 | €97,170 | €91,855 | -€5,315 | -5.5% |
| Tangible fixed assets | 22/27 | €97,170 | €91,855 | -€5,315 | -5.5% |
| Land and buildings | 22 | €35,081 | €38,097 | +€3,016 | +8.6% |
| Plant, machinery and equipment | 23 | €18,417 | €17,010 | -€1,407 | -7.6% |
| Furniture and vehicles | 24 | €43,672 | €36,748 | -€6,924 | -15.9% |
| Current assets | 29/58 | €632,028 | €791,685 | +€159,657 | +25.3% |
| Stocks and contracts in progress | 3 | €7,143 | €8,761 | +€1,618 | +22.7% |
| Stocks | 30/36 | €7,143 | €8,761 | +€1,618 | +22.7% |
| Amounts receivable within one year | 40/41 | €11,054 | €16,245 | +€5,191 | +47.0% |
| Trade receivables | 40 | €2,849 | €5,864 | +€3,015 | +106% |
| Other amounts receivable | 41 | €8,205 | €10,381 | +€2,176 | +26.5% |
| Current investments | 50/53 | €65,384 | €459,681 | +€394,297 | +603% |
| Cash at bank and in hand | 54/58 | €545,683 | €304,641 | -€241,042 | -44.2% |
| Deferred charges and accrued income | 490/1 | €2,765 | €2,357 | -€408 | -14.8% |
| Total equity and liabilities | 10/49 | €729,198 | €883,540 | +€154,342 | +21.2% |
| Equity | 10/15 | €543,830 | €659,963 | +€116,133 | +21.4% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €553,390 | €669,523 | +€116,133 | +21.0% |
| Distributable reserves | 133 | €553,390 | €669,523 | +€116,133 | +21.0% |
| Profit (loss) carried forward | 14 | -€15,860 | -€15,860 | = | 0.0% |
| Amounts payable | 17/49 | €185,368 | €223,577 | +€38,209 | +20.6% |
| Amounts payable within one year | 42/48 | €185,368 | €223,577 | +€38,209 | +20.6% |
| Trade debts | 44 | €53,789 | €38,603 | -€15,186 | -28.2% |
| Suppliers | 440/4 | €53,789 | €38,603 | -€15,186 | -28.2% |
| Taxes, remuneration and social security | 45 | €86,266 | €87,761 | +€1,494 | +1.7% |
| Taxes | 450/3 | €51,064 | €50,507 | -€557 | -1.1% |
| Remuneration and social security | 454/9 | €35,202 | €37,254 | +€2,052 | +5.8% |
| Other amounts payable | 47/48 | €45,313 | €97,213 | +€51,900 | +115% |
| Remuneration, social security and pensions | 62 | €407,985 | €453,881 | +€45,896 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,824 | €29,436 | +€5,612 | +23.6% |
| Other operating charges | 640/8 | €4,155 | €2,614 | -€1,540 | -37.1% |
| Gross operating margin | 9900 | €724,678 | €737,548 | +€12,870 | +1.8% |
| Operating profit (loss) | 9901 | €288,713 | €251,616 | -€37,097 | -12.8% |
| Financial income | 75/76B | €280 | €278 | -€2 | -0.8% |
| Recurring financial income | 75 | €280 | €278 | -€2 | -0.8% |
| Financial charges | 65/66B | €7,509 | €12,164 | +€4,655 | +62.0% |
| Recurring financial charges | 65 | €7,509 | €12,164 | +€4,655 | +62.0% |
| Profit (loss) for the period before taxes | 9903 | €281,485 | €239,731 | -€41,754 | -14.8% |
| Income taxes | 67/77 | €86,076 | €73,065 | -€13,011 | -15.1% |
| Profit (loss) for the period | 9904 | €195,409 | €166,666 | -€28,743 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €195,409 | €166,666 | -€28,743 | -14.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.