PIRARD: 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.
PIRARD
Largest movements
- Receivables within one year -€18,722
down €18,722 (-72.5%), from €25,825 to €7,103
of which Trade receivables: -€20,389
- Cash -€8,907
down €8,907 (-8.8%), from €101,567 to €92,660
mainly Net result for the year (-€24,739) and Current portion of long-term debt (-€3,473)
- Profit (loss) carried forward -€24,739
down €24,739 (-39.8%), from €62,215 to €37,477
- Current portion of long-term debt -€3,473
no longer reported in 2025 (was €3,473)
- Other debts +€3,312
up €3,312 (+15.9%), from €20,797 to €24,109
- Trade debts -€3,232
no longer reported in 2025 (was €3,232)
- Gross operating margin -€44,731
down €44,731, from €20,979 to -€23,751
- Taxes -€5,190
no longer reported in 2025 (was €5,190)
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 | €129,053 | €100,921 | -€28,133 | -21.8% |
| Fixed assets | 21/28 | €1,661 | €1,158 | -€503 | -30.3% |
| Tangible fixed assets | 22/27 | €1,661 | €1,158 | -€503 | -30.3% |
| Plant, machinery and equipment | 23 | €1,039 | €763 | -€275 | -26.5% |
| Furniture and vehicles | 24 | €623 | €395 | -€228 | -36.6% |
| Current assets | 29/58 | €127,392 | €99,763 | -€27,629 | -21.7% |
| Amounts receivable within one year | 40/41 | €25,825 | €7,103 | -€18,722 | -72.5% |
| Trade receivables | 40 | €20,389 | - | -€20,389 | |
| Other amounts receivable | 41 | €5,436 | €7,103 | +€1,667 | +30.7% |
| Cash at bank and in hand | 54/58 | €101,567 | €92,660 | -€8,907 | -8.8% |
| Total equity and liabilities | 10/49 | €129,053 | €100,921 | -€28,133 | -21.8% |
| Equity | 10/15 | €101,550 | €76,812 | -€24,739 | -24.4% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €33,138 | €33,138 | = | 0.0% |
| Distributable reserves | 133 | €33,138 | €33,138 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,215 | €37,477 | -€24,739 | -39.8% |
| Amounts payable | 17/49 | €27,503 | €24,109 | -€3,394 | -12.3% |
| Amounts payable within one year | 42/48 | €27,503 | €24,109 | -€3,394 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €3,473 | - | -€3,473 | |
| Trade debts | 44 | €3,232 | - | -€3,232 | |
| Suppliers | 440/4 | €3,232 | - | -€3,232 | |
| Other amounts payable | 47/48 | €20,797 | €24,109 | +€3,312 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €673 | €503 | -€170 | -25.2% |
| Other operating charges | 640/8 | €631 | €647 | +€16 | +2.5% |
| Gross operating margin | 9900 | €20,979 | -€23,751 | -€44,731 | |
| Operating profit (loss) | 9901 | €19,675 | -€24,901 | -€44,576 | |
| Financial income | 75/76B | €135 | €333 | +€197 | +145.7% |
| Recurring financial income | 75 | €135 | €333 | +€197 | +145.7% |
| Financial charges | 65/66B | €406 | €170 | -€236 | -58.0% |
| Recurring financial charges | 65 | €406 | €170 | -€236 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | €19,405 | -€24,739 | -€44,143 | |
| Income taxes | 67/77 | €5,190 | - | -€5,190 | |
| Profit (loss) for the period | 9904 | €14,215 | -€24,739 | -€38,953 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,215 | -€24,739 | -€38,953 |
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 12 October 2026 via checked.be.