PILOU: 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.
PILOU
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Cash -€45,143
down €45,143 (-25.8%), from €175,074 to €129,931
mainly Current investments (-€150,000) and Receivables within one year (-€28,426)
- Receivables within one year +€28,426
up €28,426 (+56.4%), from €50,373 to €78,800
of which Trade receivables: +€24,800
- Reserves +€99,062
up €99,062 (+21.4%), from €462,929 to €561,991
- Tax, wage and social debts +€11,318
up €11,318 (+16.4%), from €69,047 to €80,365
- Trade debts +€10,942
up €10,942 (+341.2%), from €3,207 to €14,150
- Other debts +€7,520
up €7,520 (+1060.0%), from €709 to €8,229
- Financial income +€13,288
up €13,288 (+107338.4%), from €12 to €13,301
- Taxes +€7,957
up €7,957 (+14.7%), from €54,011 to €61,968
- Gross operating margin -€7,060
down €7,060 (-4.2%), from €168,091 to €161,030
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 | €548,292 | €677,135 | +€128,842 | +23.5% |
| Fixed assets | 21/28 | €317,844 | €318,404 | +€559 | +0.2% |
| Tangible fixed assets | 22/27 | €17,844 | €18,404 | +€559 | +3.1% |
| Plant, machinery and equipment | 23 | €1,132 | €624 | -€508 | -44.9% |
| Furniture and vehicles | 24 | €2,605 | €4,337 | +€1,732 | +66.5% |
| Other tangible fixed assets | 26 | €14,107 | €13,443 | -€664 | -4.7% |
| Financial fixed assets | 28 | €300,000 | €300,000 | = | 0.0% |
| Current assets | 29/58 | €230,448 | €358,731 | +€128,283 | +55.7% |
| Amounts receivable after more than one year | 29 | €5,000 | €0 | -€5,000 | -100.0% |
| Other amounts receivable | 291 | €5,000 | €0 | -€5,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €50,373 | €78,800 | +€28,426 | +56.4% |
| Trade receivables | 40 | €34,480 | €59,280 | +€24,800 | +71.9% |
| Other amounts receivable | 41 | €15,893 | €19,520 | +€3,626 | +22.8% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €175,074 | €129,931 | -€45,143 | -25.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €548,292 | €677,135 | +€128,842 | +23.5% |
| Equity | 10/15 | €475,329 | €574,391 | +€99,062 | +20.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €462,929 | €561,991 | +€99,062 | +21.4% |
| Distributable reserves | 133 | €462,929 | €561,991 | +€99,062 | +21.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €72,963 | €102,744 | +€29,781 | +40.8% |
| Amounts payable within one year | 42/48 | €72,963 | €102,744 | +€29,781 | +40.8% |
| Trade debts | 44 | €3,207 | €14,150 | +€10,942 | +341.2% |
| Suppliers | 440/4 | €3,207 | €14,150 | +€10,942 | +341.2% |
| Taxes, remuneration and social security | 45 | €69,047 | €80,365 | +€11,318 | +16.4% |
| Taxes | 450/3 | €69,047 | €80,365 | +€11,318 | +16.4% |
| Other amounts payable | 47/48 | €709 | €8,229 | +€7,520 | +1060.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,029 | €3,760 | -€269 | -6.7% |
| Other operating charges | 640/8 | €1,748 | €1,873 | +€124 | +7.1% |
| Gross operating margin | 9900 | €168,091 | €161,030 | -€7,060 | -4.2% |
| Operating profit (loss) | 9901 | €162,313 | €155,398 | -€6,915 | -4.3% |
| Financial income | 75/76B | €12 | €13,301 | +€13,288 | +107338.4% |
| Recurring financial income | 75 | €12 | €13,301 | +€13,288 | +107338.4% |
| Financial charges | 65/66B | €190 | €319 | +€129 | +67.8% |
| Recurring financial charges | 65 | €190 | €319 | +€129 | +67.8% |
| Profit (loss) for the period before taxes | 9903 | €162,136 | €168,380 | +€6,244 | +3.9% |
| Income taxes | 67/77 | €54,011 | €61,968 | +€7,957 | +14.7% |
| Profit (loss) for the period | 9904 | €108,124 | €106,412 | -€1,713 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €108,124 | €106,412 | -€1,713 | -1.6% |
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.