PIOLON MANAGEMENT: 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.
PIOLON MANAGEMENT
Largest movements
- Cash +€51,253
up €51,253 (+17.6%), from €291,386 to €342,639
mainly Net result for the year (+€71,260) and Other debts (+€15,728)
- Receivables within one year +€17,167
up €17,167 (+253%), from €6,796 to €23,963
of which Trade receivables: +€17,226
- Reserves +€42,083
up €42,083 (+18.2%), from €231,223 to €273,307
of which Distributable reserves: +€42,083
- Other debts +€15,728
up €15,728 (+202%), from €7,784 to €23,512
- Tax, wage and social debts +€4,602
up €4,602 (+24.9%), from €18,491 to €23,093
of which Taxes: +€6,402
- Gross operating margin +€42,381
up €42,381 (+60.0%), from €70,658 to €113,039
- Taxes +€13,392
up €13,392 (+58.9%), from €22,727 to €36,119
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 | €317,154 | €378,514 | +€61,360 | +19.3% |
| Fixed assets | 21/28 | €11,375 | €7,701 | -€3,674 | -32.3% |
| Tangible fixed assets | 22/27 | €11,375 | €7,701 | -€3,674 | -32.3% |
| Plant, machinery and equipment | 23 | €7,488 | €4,914 | -€2,574 | -34.4% |
| Furniture and vehicles | 24 | €3,887 | €2,787 | -€1,100 | -28.3% |
| Current assets | 29/58 | €305,779 | €370,814 | +€65,034 | +21.3% |
| Amounts receivable after more than one year | 29 | €7,150 | €4,212 | -€2,938 | -41.1% |
| Other amounts receivable | 291 | €7,150 | €4,212 | -€2,938 | -41.1% |
| Amounts receivable within one year | 40/41 | €6,796 | €23,963 | +€17,167 | +253% |
| Trade receivables | 40 | €3,557 | €20,784 | +€17,226 | +484% |
| Other amounts receivable | 41 | €3,239 | €3,179 | -€60 | -1.8% |
| Cash at bank and in hand | 54/58 | €291,386 | €342,639 | +€51,253 | +17.6% |
| Deferred charges and accrued income | 490/1 | €447 | €0 | -€447 | -100% |
| Total equity and liabilities | 10/49 | €317,154 | €378,514 | +€61,360 | +19.3% |
| Equity | 10/15 | €288,239 | €330,322 | +€42,083 | +14.6% |
| Contributions | 10/11 | €57,016 | €57,016 | = | 0.0% |
| Reserves | 13 | €231,223 | €273,307 | +€42,083 | +18.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €231,223 | €273,307 | +€42,083 | +18.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €28,915 | €48,192 | +€19,277 | +66.7% |
| Amounts payable within one year | 42/48 | €28,528 | €47,793 | +€19,265 | +67.5% |
| Trade debts | 44 | €2,253 | €1,188 | -€1,066 | -47.3% |
| Suppliers | 440/4 | €2,253 | €1,188 | -€1,066 | -47.3% |
| Taxes, remuneration and social security | 45 | €18,491 | €23,093 | +€4,602 | +24.9% |
| Taxes | 450/3 | €16,691 | €23,093 | +€6,402 | +38.4% |
| Remuneration and social security | 454/9 | €1,800 | €0 | -€1,800 | -100% |
| Other amounts payable | 47/48 | €7,784 | €23,512 | +€15,728 | +202% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,823 | €3,674 | -€149 | -3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,086 | €0 | +€1,086 | |
| Other operating charges | 640/8 | €2,141 | €1,900 | -€241 | -11.2% |
| Gross operating margin | 9900 | €70,658 | €113,039 | +€42,381 | +60.0% |
| Operating profit (loss) | 9901 | €65,781 | €107,465 | +€41,684 | +63.4% |
| Financial income | 75/76B | €86 | €88 | +€2 | +2.3% |
| Recurring financial income | 75 | €86 | €88 | +€2 | +2.3% |
| Financial charges | 65/66B | €169 | €174 | +€5 | +2.7% |
| Recurring financial charges | 65 | €169 | €174 | +€5 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €65,698 | €107,380 | +€41,682 | +63.4% |
| Income taxes | 67/77 | €22,727 | €36,119 | +€13,392 | +58.9% |
| Profit (loss) for the period | 9904 | €42,971 | €71,260 | +€28,290 | +65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €42,971 | €71,260 | +€28,290 | +65.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.