PIRAH: 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.
PIRAH
Largest movements
- Cash +€170,874
up €170,874 (+59.1%), from €289,179 to €460,053
mainly Net result for the year (+€176,896) and Depreciation (+€11,236)
- Receivables within one year +€24,980
up €24,980 (+37.4%), from €66,767 to €91,747
of which Other amounts receivable: +€28,538
- Tangible fixed assets -€11,236
down €11,236 (-13.8%), from €81,638 to €70,402
of which Furniture and vehicles: -€9,074
- Reserves +€176,896
up €176,896 (+44.2%), from €400,383 to €577,279
- Gross operating margin +€96,962
up €96,962 (+51.8%), from €187,334 to €284,296
- Taxes +€32,613
up €32,613 (+54.7%), from €59,578 to €92,191
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 | €445,374 | €628,176 | +€182,802 | +41.0% |
| Fixed assets | 21/28 | €81,638 | €70,402 | -€11,236 | -13.8% |
| Tangible fixed assets | 22/27 | €81,638 | €70,402 | -€11,236 | -13.8% |
| Land and buildings | 22 | €57,266 | €55,287 | -€1,979 | -3.5% |
| Plant, machinery and equipment | 23 | €7,019 | €6,837 | -€182 | -2.6% |
| Furniture and vehicles | 24 | €17,352 | €8,278 | -€9,074 | -52.3% |
| Current assets | 29/58 | €363,736 | €557,774 | +€194,038 | +53.3% |
| Amounts receivable within one year | 40/41 | €66,767 | €91,747 | +€24,980 | +37.4% |
| Trade receivables | 40 | €60,758 | €57,200 | -€3,558 | -5.9% |
| Other amounts receivable | 41 | €6,009 | €34,547 | +€28,538 | +474.9% |
| Cash at bank and in hand | 54/58 | €289,179 | €460,053 | +€170,874 | +59.1% |
| Deferred charges and accrued income | 490/1 | €7,789 | €5,974 | -€1,815 | -23.3% |
| Total equity and liabilities | 10/49 | €445,374 | €628,176 | +€182,802 | +41.0% |
| Equity | 10/15 | €412,783 | €589,679 | +€176,896 | +42.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €400,383 | €577,279 | +€176,896 | +44.2% |
| Distributable reserves | 133 | €400,383 | €577,279 | +€176,896 | +44.2% |
| Amounts payable | 17/49 | €32,591 | €38,497 | +€5,906 | +18.1% |
| Amounts payable within one year | 42/48 | €31,336 | €38,497 | +€7,161 | +22.9% |
| Trade debts | 44 | €2,081 | €5,271 | +€3,191 | +153.4% |
| Suppliers | 440/4 | €2,081 | €5,271 | +€3,191 | +153.4% |
| Taxes, remuneration and social security | 45 | €29,021 | €33,226 | +€4,205 | +14.5% |
| Taxes | 450/3 | €29,021 | €33,226 | +€4,205 | +14.5% |
| Other amounts payable | 47/48 | €235 | €0 | -€235 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,255 | €0 | -€1,255 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,939 | €11,236 | -€1,703 | -13.2% |
| Other operating charges | 640/8 | €1,625 | €1,466 | -€159 | -9.8% |
| Gross operating margin | 9900 | €187,334 | €284,296 | +€96,962 | +51.8% |
| Operating profit (loss) | 9901 | €172,770 | €271,594 | +€98,824 | +57.2% |
| Financial income | 75/76B | €24 | €955 | +€931 | +3892.7% |
| Recurring financial income | 75 | €24 | €955 | +€931 | +3892.7% |
| Financial charges | 65/66B | €3,255 | €3,462 | +€206 | +6.3% |
| Recurring financial charges | 65 | €3,255 | €3,462 | +€206 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €169,539 | €269,088 | +€99,549 | +58.7% |
| Income taxes | 67/77 | €59,578 | €92,191 | +€32,613 | +54.7% |
| Profit (loss) for the period | 9904 | €109,960 | €176,896 | +€66,936 | +60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €109,960 | €176,896 | +€66,936 | +60.9% |
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 10 October 2026 via checked.be.