PIREAS: 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.
PIREAS
Largest movements
- Cash -€50,203
down €50,203 (-78.9%), from €63,598 to €13,394
mainly Other debts (-€40,184) and Receivables within one year (-€12,298)
- Receivables within one year +€12,298
up €12,298 (+161%), from €7,626 to €19,924
of which Other amounts receivable: +€8,997
- Tangible fixed assets -€7,861
down €7,861 (-31.0%), from €25,355 to €17,493
- Other debts -€40,184
down €40,184 (-99.8%), from €40,268 to €84
- Profit (loss) carried forward -€5,392
down €5,392 (-16.8%), from €32,130 to €26,738
- Trade debts -€2,482
down €2,482 (-86.8%), from €2,859 to €377
- Tax, wage and social debts +€2,385
up €2,385 (+30.7%), from €7,770 to €10,155
- Gross operating margin -€25,723
down €25,723 (-67.4%), from €38,189 to €12,467
- Write-downs -€6,750
no longer reported in 2025 (was €6,750)
- Taxes -€6,465
down €6,465 (-83.2%), from €7,770 to €1,305
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 | €98,026 | €52,354 | -€45,673 | -46.6% |
| Fixed assets | 21/28 | €25,355 | €17,493 | -€7,861 | -31.0% |
| Tangible fixed assets | 22/27 | €25,355 | €17,493 | -€7,861 | -31.0% |
| Furniture and vehicles | 24 | €25,355 | €17,493 | -€7,861 | -31.0% |
| Current assets | 29/58 | €72,672 | €34,860 | -€37,811 | -52.0% |
| Amounts receivable within one year | 40/41 | €7,626 | €19,924 | +€12,298 | +161% |
| Trade receivables | 40 | €5,169 | €8,470 | +€3,301 | +63.9% |
| Other amounts receivable | 41 | €2,457 | €11,454 | +€8,997 | +366% |
| Cash at bank and in hand | 54/58 | €63,598 | €13,394 | -€50,203 | -78.9% |
| Deferred charges and accrued income | 490/1 | €1,448 | €1,542 | +€94 | +6.5% |
| Total equity and liabilities | 10/49 | €98,026 | €52,354 | -€45,673 | -46.6% |
| Equity | 10/15 | €37,130 | €31,738 | -€5,392 | -14.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,130 | €26,738 | -€5,392 | -16.8% |
| Amounts payable | 17/49 | €60,897 | €20,615 | -€40,281 | -66.1% |
| Amounts payable within one year | 42/48 | €60,897 | €20,615 | -€40,281 | -66.1% |
| Trade debts | 44 | €2,859 | €377 | -€2,482 | -86.8% |
| Suppliers | 440/4 | €2,859 | €377 | -€2,482 | -86.8% |
| Advances received on contracts in progress | 46 | €10,000 | €10,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €7,770 | €10,155 | +€2,385 | +30.7% |
| Taxes | 450/3 | €7,770 | €10,155 | +€2,385 | +30.7% |
| Other amounts payable | 47/48 | €40,268 | €84 | -€40,184 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,346 | €9,349 | +€3 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,750 | - | -€6,750 | |
| Other operating charges | 640/8 | €276 | €484 | +€208 | +75.5% |
| Gross operating margin | 9900 | €38,189 | €12,467 | -€25,723 | -67.4% |
| Operating profit (loss) | 9901 | €21,818 | €2,634 | -€19,184 | -87.9% |
| Financial income | 75/76B | €4 | €20 | +€16 | +388% |
| Recurring financial income | 75 | €4 | €20 | +€16 | +388% |
| Financial charges | 65/66B | €118 | €141 | +€23 | +19.5% |
| Recurring financial charges | 65 | €118 | €141 | +€23 | +19.5% |
| Profit (loss) for the period before taxes | 9903 | €21,704 | €2,513 | -€19,191 | -88.4% |
| Income taxes | 67/77 | €7,770 | €1,305 | -€6,465 | -83.2% |
| Profit (loss) for the period | 9904 | €13,935 | €1,208 | -€12,726 | -91.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,935 | €1,208 | -€12,726 | -91.3% |
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 21 October 2026 via checked.be.