PILOE: 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.
PILOE
Largest movements
- Stocks and contracts -€1,515
down €1,515 (-10.1%), from €15,015 to €13,500
- Cash -€1,286
down €1,286 (-63.0%), from €2,040 to €754
mainly Other debts (-€2,350) and Net result for the year (-€807)
- Deferred charges and accrued income +€642
new in 2025: €642
- Tangible fixed assets -€251
down €251 (-40.7%), from €617 to €366
- Other debts -€2,350
down €2,350 (-2.7%), from €86,689 to €84,339
- Profit (loss) carried forward -€807
down €807 (-0.5%), from -€161,341 to -€162,148
- Trade debts +€766
up €766 (+244.8%), from €313 to €1,079
- Gross operating margin -€2,417
down €2,417 (-89.0%), from €2,716 to €299
- Depreciation -€227
down €227 (-47.5%), from €478 to €251
- Financial charges +€209
up €209 (+174.0%), from €120 to €330
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 | €17,870 | €15,308 | -€2,562 | -14.3% |
| Fixed assets | 21/28 | €617 | €366 | -€251 | -40.7% |
| Tangible fixed assets | 22/27 | €617 | €366 | -€251 | -40.7% |
| Plant, machinery and equipment | 23 | €617 | €366 | -€251 | -40.7% |
| Current assets | 29/58 | €17,252 | €14,942 | -€2,311 | -13.4% |
| Stocks and contracts in progress | 3 | €15,015 | €13,500 | -€1,515 | -10.1% |
| Stocks | 30/36 | €15,015 | €13,500 | -€1,515 | -10.1% |
| Amounts receivable within one year | 40/41 | €198 | €45 | -€153 | -77.2% |
| Trade receivables | 40 | €198 | €45 | -€153 | -77.2% |
| Cash at bank and in hand | 54/58 | €2,040 | €754 | -€1,286 | -63.0% |
| Deferred charges and accrued income | 490/1 | - | €642 | +€642 | |
| Total equity and liabilities | 10/49 | €17,870 | €15,308 | -€2,562 | -14.3% |
| Equity | 10/15 | -€69,741 | -€70,548 | -€807 | -1.2% |
| Contributions | 10/11 | €91,600 | €91,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€161,341 | -€162,148 | -€807 | -0.5% |
| Amounts payable | 17/49 | €87,611 | €85,856 | -€1,755 | -2.0% |
| Amounts payable within one year | 42/48 | €87,611 | €85,856 | -€1,755 | -2.0% |
| Trade debts | 44 | €313 | €1,079 | +€766 | +244.8% |
| Suppliers | 440/4 | €313 | €1,079 | +€766 | +244.8% |
| Taxes, remuneration and social security | 45 | €609 | €438 | -€171 | -28.1% |
| Taxes | 450/3 | €609 | €438 | -€171 | -28.1% |
| Other amounts payable | 47/48 | €86,689 | €84,339 | -€2,350 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €478 | €251 | -€227 | -47.5% |
| Other operating charges | 640/8 | €502 | €527 | +€25 | +5.1% |
| Gross operating margin | 9900 | €2,716 | €299 | -€2,417 | -89.0% |
| Operating profit (loss) | 9901 | €1,736 | -€479 | -€2,215 | |
| Financial income | 75/76B | €12 | €2 | -€10 | -83.0% |
| Recurring financial income | 75 | €12 | €2 | -€10 | -83.0% |
| Financial charges | 65/66B | €120 | €330 | +€209 | +174.0% |
| Recurring financial charges | 65 | €120 | €330 | +€209 | +174.0% |
| Profit (loss) for the period before taxes | 9903 | €1,628 | -€807 | -€2,434 | |
| Profit (loss) for the period | 9904 | €1,628 | -€807 | -€2,434 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,628 | -€807 | -€2,434 |
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 6 October 2026 via checked.be.