PIRARD 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.
PIRARD MANAGEMENT
Largest movements
- Cash +€17,569
up €17,569 (+99.3%), from €17,696 to €35,265
mainly Net result for the year (+€25,633) and Other debts (+€13,931)
- Receivables within one year -€12,485
down €12,485 (-44.6%), from €27,985 to €15,501
of which Trade receivables: -€9,661
- Tangible fixed assets +€2,094
up €2,094 (+1,207%), from €173 to €2,267
- Deferred charges and accrued income -€712
down €712 (-33.5%), from €2,127 to €1,415
- Other debts +€13,931
up €13,931 (+105%), from €13,212 to €27,143
- Tax, wage and social debts -€4,666
down €4,666 (-29.4%), from €15,886 to €11,221
- Trade debts -€2,799
down €2,799 (-69.4%), from €4,033 to €1,234
- Gross operating margin +€9,194
up €9,194 (+32.8%), from €28,012 to €37,206
- Depreciation -€5,760
down €5,760 (-93.5%), from €6,159 to €399
- Taxes +€1,988
up €1,988 (+23.1%), from €8,616 to €10,604
- Financial income -€551
down €551 (-98.4%), from €560 to €9
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 | €48,132 | €54,598 | +€6,466 | +13.4% |
| Fixed assets | 21/28 | €323 | €2,417 | +€2,094 | +647% |
| Tangible fixed assets | 22/27 | €173 | €2,267 | +€2,094 | +1,207% |
| Furniture and vehicles | 24 | €173 | €2,267 | +€2,094 | +1,207% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €47,808 | €52,180 | +€4,372 | +9.1% |
| Amounts receivable within one year | 40/41 | €27,985 | €15,501 | -€12,485 | -44.6% |
| Trade receivables | 40 | €24,578 | €14,916 | -€9,661 | -39.3% |
| Other amounts receivable | 41 | €3,408 | €584 | -€2,824 | -82.9% |
| Cash at bank and in hand | 54/58 | €17,696 | €35,265 | +€17,569 | +99.3% |
| Deferred charges and accrued income | 490/1 | €2,127 | €1,415 | -€712 | -33.5% |
| Total equity and liabilities | 10/49 | €48,132 | €54,598 | +€6,466 | +13.4% |
| Equity | 10/15 | €15,000 | €15,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €33,132 | €39,598 | +€6,466 | +19.5% |
| Amounts payable within one year | 42/48 | €33,132 | €39,598 | +€6,466 | +19.5% |
| Trade debts | 44 | €4,033 | €1,234 | -€2,799 | -69.4% |
| Suppliers | 440/4 | €4,033 | €1,234 | -€2,799 | -69.4% |
| Taxes, remuneration and social security | 45 | €15,886 | €11,221 | -€4,666 | -29.4% |
| Taxes | 450/3 | €15,886 | €11,221 | -€4,666 | -29.4% |
| Other amounts payable | 47/48 | €13,212 | €27,143 | +€13,931 | +105% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,159 | €399 | -€5,760 | -93.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €28,012 | €37,206 | +€9,194 | +32.8% |
| Operating profit (loss) | 9901 | €21,465 | €36,407 | +€14,942 | +69.6% |
| Financial income | 75/76B | €560 | €9 | -€551 | -98.4% |
| Recurring financial income | 75 | €560 | €9 | -€551 | -98.4% |
| Financial charges | 65/66B | €197 | €178 | -€19 | -9.5% |
| Recurring financial charges | 65 | €197 | €178 | -€19 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €21,829 | €36,238 | +€14,409 | +66.0% |
| Income taxes | 67/77 | €8,616 | €10,604 | +€1,988 | +23.1% |
| Profit (loss) for the period | 9904 | €13,212 | €25,633 | +€12,421 | +94.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,212 | €25,633 | +€12,421 | +94.0% |
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 25 October 2026 via checked.be.