PILOTE: 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.
PILOTE
Largest movements
- Cash +€840,861
up €840,861 (+114%), from €736,053 to €1.6m
mainly Accrued charges and deferred income (+€834,272) and Current investments (+€400,000)
- Receivables within one year +€505,712
up €505,712 (+38.5%), from €1.3m to €1.8m
of which Other amounts receivable: +€306,616
- Financial fixed assets +€488,438
up €488,438 (+138%), from €353,000 to €841,439
- Current investments -€400,000
down €400,000 (-100%), from €400,000 to €0
- Accrued charges and deferred income +€834,272
up €834,272 (+47.2%), from €1.8m to €2.6m
- Debts after one year +€334,771
up €334,771 (+107%), from €312,722 to €647,492
of which Financial debts: +€334,771
- Trade debts +€164,567
up €164,567 (+34.5%), from €477,021 to €641,587
- Short-term financial debts +€68,745
up €68,745 (+108%), from €63,379 to €132,124
- Gross operating margin +€136,191
up €136,191 (+11.0%), from €1.2m to €1.4m
- Staff costs +€122,955
up €122,955 (+10.0%), from €1.2m to €1.3m
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 | €3,026,011 | €4,443,696 | +€1.4m | +46.8% |
| Fixed assets | 21/28 | €574,639 | €1,045,703 | +€471,064 | +82.0% |
| Intangible fixed assets | 21 | €9,444 | €9,354 | -€90 | -0.9% |
| Tangible fixed assets | 22/27 | €212,194 | €194,910 | -€17,285 | -8.1% |
| Land and buildings | 22 | €82,115 | €77,467 | -€4,648 | -5.7% |
| Plant, machinery and equipment | 23 | €54,200 | €48,757 | -€5,443 | -10.0% |
| Furniture and vehicles | 24 | €7,999 | €7,006 | -€993 | -12.4% |
| Leasing and similar rights | 25 | €8,996 | €4,158 | -€4,837 | -53.8% |
| Other tangible fixed assets | 26 | €58,885 | €57,522 | -€1,364 | -2.3% |
| Financial fixed assets | 28 | €353,000 | €841,439 | +€488,438 | +138% |
| Current assets | 29/58 | €2,451,372 | €3,397,993 | +€946,621 | +38.6% |
| Amounts receivable within one year | 40/41 | €1,313,719 | €1,819,431 | +€505,712 | +38.5% |
| Trade receivables | 40 | €973,114 | €1,172,210 | +€199,096 | +20.5% |
| Other amounts receivable | 41 | €340,604 | €647,221 | +€306,616 | +90.0% |
| Current investments | 50/53 | €400,000 | €0 | -€400,000 | -100% |
| Cash at bank and in hand | 54/58 | €736,053 | €1,576,915 | +€840,861 | +114% |
| Deferred charges and accrued income | 490/1 | €1,600 | €1,648 | +€48 | +3.0% |
| Total equity and liabilities | 10/49 | €3,026,011 | €4,443,696 | +€1.4m | +46.8% |
| Equity | 10/15 | €138,227 | €134,660 | -€3,567 | -2.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €69,721 | €65,073 | -€4,648 | -6.7% |
| Reserves | 13 | €49,915 | €53,028 | +€3,114 | +6.2% |
| Distributable reserves | 133 | €49,915 | €53,028 | +€3,114 | +6.2% |
| Profit (loss) carried forward | 14 | - | -€2,033 | -€2,033 | |
| Amounts payable | 17/49 | €2,887,783 | €4,309,036 | +€1.4m | +49.2% |
| Amounts payable after more than one year | 17 | €312,722 | €647,492 | +€334,771 | +107% |
| Financial debts | 170/4 | €311,027 | €645,797 | +€334,771 | +108% |
| Other amounts payable | 178/9 | €1,695 | €1,695 | = | 0.0% |
| Amounts payable within one year | 42/48 | €807,680 | €1,059,890 | +€252,210 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €7,908 | €6,983 | -€925 | -11.7% |
| Financial debts | 43 | €63,379 | €132,124 | +€68,745 | +108% |
| Credit institutions | 430/8 | €63,379 | €132,124 | +€68,745 | +108% |
| Trade debts | 44 | €477,021 | €641,587 | +€164,567 | +34.5% |
| Suppliers | 440/4 | €477,021 | €641,587 | +€164,567 | +34.5% |
| Taxes, remuneration and social security | 45 | €221,431 | €228,211 | +€6,780 | +3.1% |
| Taxes | 450/3 | €29,007 | €35,240 | +€6,234 | +21.5% |
| Remuneration and social security | 454/9 | €192,424 | €192,970 | +€546 | +0.3% |
| Other amounts payable | 47/48 | €37,942 | €50,985 | +€13,043 | +34.4% |
| Accrued charges and deferred income | 492/3 | €1,767,382 | €2,601,654 | +€834,272 | +47.2% |
| Non-recurring operating income | 76A | €680 | €0 | -€680 | -100% |
| Remuneration, social security and pensions | 62 | €1,225,959 | €1,348,914 | +€122,955 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,061 | €38,575 | +€3,514 | +10.0% |
| Other operating charges | 640/8 | €3,507 | €3,382 | -€125 | -3.6% |
| Gross operating margin | 9900 | €1,240,834 | €1,377,025 | +€136,191 | +11.0% |
| Operating profit (loss) | 9901 | -€23,693 | -€13,847 | +€9,846 | +41.6% |
| Financial income | 75/76B | €27,328 | €33,010 | +€5,683 | +20.8% |
| Recurring financial income | 75 | €27,328 | €33,010 | +€5,683 | +20.8% |
| Financial charges | 65/66B | €13,192 | €13,268 | +€76 | +0.6% |
| Recurring financial charges | 65 | €13,192 | €13,268 | +€76 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,557 | €5,896 | +€15,453 | |
| Income taxes | 67/77 | - | €9,463 | +€9,463 | |
| Profit (loss) for the period | 9904 | -€9,557 | -€3,567 | +€5,990 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,557 | -€3,567 | +€5,990 | +62.7% |
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 15 October 2026 via checked.be.