PILLCO: 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.
PILLCO
Largest movements
- Cash +€18,413
up €18,413 (+107%), from €17,195 to €35,608
mainly Other debts (+€39,182) and Investment in fixed assets (net) (+€10,223)
- Tangible fixed assets -€10,564
down €10,564 (-96.7%), from €10,926 to €362
- Deferred charges and accrued income +€2,283
up €2,283 (+828%), from €276 to €2,558
- Other debts +€39,182
up €39,182 (+61.2%), from €64,005 to €103,186
- Profit (loss) carried forward -€29,621
down €29,621 (-168%), from -€17,592 to -€47,213
- Tax, wage and social debts +€7,799
up €7,799 (+311%), from €2,511 to €10,310
- Trade debts -€6,996
down €6,996 (-58.0%), from €12,058 to €5,063
- Gross operating margin -€13,728
down €13,728 (-105%), from -€13,123 to -€26,850
- Depreciation -€3,624
down €3,624 (-91.4%), from €3,965 to €341
- Financial charges +€1,144
up €1,144 (+150%), from €761 to €1,905
- Other operating charges -€273
down €273 (-40.6%), from €673 to €400
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 | €69,042 | €79,406 | +€10,364 | +15.0% |
| Fixed assets | 21/28 | €10,926 | €362 | -€10,564 | -96.7% |
| Tangible fixed assets | 22/27 | €10,926 | €362 | -€10,564 | -96.7% |
| Furniture and vehicles | 24 | €10,926 | €362 | -€10,564 | -96.7% |
| Current assets | 29/58 | €58,116 | €79,044 | +€20,928 | +36.0% |
| Amounts receivable within one year | 40/41 | €40,645 | €40,878 | +€233 | +0.6% |
| Trade receivables | 40 | €748 | €10,002 | +€9,255 | +1,237% |
| Other amounts receivable | 41 | €39,897 | €30,876 | -€9,021 | -22.6% |
| Cash at bank and in hand | 54/58 | €17,195 | €35,608 | +€18,413 | +107% |
| Deferred charges and accrued income | 490/1 | €276 | €2,558 | +€2,283 | +828% |
| Total equity and liabilities | 10/49 | €69,042 | €79,406 | +€10,364 | +15.0% |
| Equity | 10/15 | -€9,532 | -€39,153 | -€29,621 | -311% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,592 | -€47,213 | -€29,621 | -168% |
| Amounts payable | 17/49 | €78,574 | €118,559 | +€39,985 | +50.9% |
| Amounts payable within one year | 42/48 | €78,574 | €118,559 | +€39,985 | +50.9% |
| Trade debts | 44 | €12,058 | €5,063 | -€6,996 | -58.0% |
| Suppliers | 440/4 | €12,058 | €5,063 | -€6,996 | -58.0% |
| Taxes, remuneration and social security | 45 | €2,511 | €10,310 | +€7,799 | +311% |
| Taxes | 450/3 | €2,511 | €10,310 | +€7,799 | +311% |
| Other amounts payable | 47/48 | €64,005 | €103,186 | +€39,182 | +61.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,965 | €341 | -€3,624 | -91.4% |
| Other operating charges | 640/8 | €673 | €400 | -€273 | -40.6% |
| Gross operating margin | 9900 | -€13,123 | -€26,850 | -€13,728 | -105% |
| Operating profit (loss) | 9901 | -€17,761 | -€27,591 | -€9,830 | -55.3% |
| Financial income | 75/76B | €80 | €17 | -€63 | -78.8% |
| Recurring financial income | 75 | €80 | €17 | -€63 | -78.8% |
| Financial charges | 65/66B | €761 | €1,905 | +€1,144 | +150% |
| Recurring financial charges | 65 | €761 | €1,905 | +€1,144 | +150% |
| Profit (loss) for the period before taxes | 9903 | -€18,443 | -€29,480 | -€11,037 | -59.8% |
| Income taxes | 67/77 | €162 | €141 | -€21 | -12.8% |
| Profit (loss) for the period | 9904 | -€18,604 | -€29,621 | -€11,017 | -59.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,604 | -€29,621 | -€11,017 | -59.2% |
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 14 October 2026 via checked.be.