PIRET Grégory: 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.
PIRET Grégory
Largest movements
- Receivables within one year +€18,498
up €18,498 (+45.7%), from €40,509 to €59,007
of which Trade receivables: +€17,754
- Cash -€11,867
down €11,867 (-68.3%), from €17,366 to €5,499
mainly Contributions, distributions and other (-€22,602) and Receivables within one year (-€18,498)
- Tangible fixed assets -€11,186
down €11,186 (-48.0%), from €23,282 to €12,096
of which Leasing and similar rights: -€5,876
- Deferred charges and accrued income -€2,443
down €2,443 (-17.7%), from €13,787 to €11,344
- Reserves -€29,706
down €29,706 (-81.9%), from €36,286 to €6,580
of which Distributable reserves: -€22,602
- Other debts +€22,602
new in 2025: €22,602
- Profit (loss) carried forward +€7,205
up €7,205 (+14.9%), from €48,447 to €55,651
- Debts after one year -€5,144
no longer reported in 2025 (was €5,144)
- Trade debts +€2,976
up €2,976 (+35.7%), from €8,342 to €11,318
- Gross operating margin -€16,188
down €16,188 (-49.4%), from €32,744 to €16,555
- Taxes -€4,231
down €4,231 (-57.1%), from €7,406 to €3,175
- Financial charges +€832
up €832 (+41.7%), from €1,996 to €2,827
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 | €135,944 | €128,946 | -€6,998 | -5.1% |
| Fixed assets | 21/28 | €23,282 | €12,096 | -€11,186 | -48.0% |
| Tangible fixed assets | 22/27 | €23,282 | €12,096 | -€11,186 | -48.0% |
| Plant, machinery and equipment | 23 | €3,283 | €2,618 | -€665 | -20.3% |
| Furniture and vehicles | 24 | €8,650 | €4,005 | -€4,645 | -53.7% |
| Leasing and similar rights | 25 | €11,349 | €5,473 | -€5,876 | -51.8% |
| Current assets | 29/58 | €112,662 | €116,850 | +€4,188 | +3.7% |
| Amounts receivable after more than one year | 29 | €41,000 | €41,000 | = | 0.0% |
| Other amounts receivable | 291 | €41,000 | €41,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,509 | €59,007 | +€18,498 | +45.7% |
| Trade receivables | 40 | €37,092 | €54,846 | +€17,754 | +47.9% |
| Other amounts receivable | 41 | €3,417 | €4,161 | +€744 | +21.8% |
| Cash at bank and in hand | 54/58 | €17,366 | €5,499 | -€11,867 | -68.3% |
| Deferred charges and accrued income | 490/1 | €13,787 | €11,344 | -€2,443 | -17.7% |
| Total equity and liabilities | 10/49 | €135,944 | €128,946 | -€6,998 | -5.1% |
| Equity | 10/15 | €103,333 | €80,832 | -€22,501 | -21.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,286 | €6,580 | -€29,706 | -81.9% |
| Tax-exempt reserves | 132 | €13,685 | €6,580 | -€7,104 | -51.9% |
| Distributable reserves | 133 | €22,602 | - | -€22,602 | |
| Profit (loss) carried forward | 14 | €48,447 | €55,651 | +€7,205 | +14.9% |
| Provisions and deferred taxes | 16 | €4,562 | €2,194 | -€2,368 | -51.9% |
| Deferred taxes | 168 | €4,562 | €2,194 | -€2,368 | -51.9% |
| Amounts payable | 17/49 | €28,049 | €45,921 | +€17,872 | +63.7% |
| Amounts payable after more than one year | 17 | €5,144 | - | -€5,144 | |
| Financial debts | 170/4 | €5,144 | - | -€5,144 | |
| Amounts payable within one year | 42/48 | €22,905 | €45,921 | +€23,016 | +100% |
| Current portion of amounts payable after more than one year | 42 | €5,028 | €5,144 | +€116 | +2.3% |
| Trade debts | 44 | €8,342 | €11,318 | +€2,976 | +35.7% |
| Suppliers | 440/4 | €8,342 | €11,318 | +€2,976 | +35.7% |
| Taxes, remuneration and social security | 45 | €9,536 | €6,857 | -€2,679 | -28.1% |
| Taxes | 450/3 | €7,406 | €3,176 | -€4,230 | -57.1% |
| Remuneration and social security | 454/9 | €2,129 | €3,681 | +€1,551 | +72.9% |
| Other amounts payable | 47/48 | - | €22,602 | +€22,602 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,273 | €12,273 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,711 | €1,503 | -€208 | -12.2% |
| Gross operating margin | 9900 | €32,744 | €16,555 | -€16,188 | -49.4% |
| Operating profit (loss) | 9901 | €18,759 | €2,779 | -€15,980 | -85.2% |
| Financial income | 75/76B | €1,076 | €956 | -€120 | -11.1% |
| Recurring financial income | 75 | €1,076 | €956 | -€120 | -11.1% |
| Financial charges | 65/66B | €1,996 | €2,827 | +€832 | +41.7% |
| Recurring financial charges | 65 | €1,996 | €2,827 | +€832 | +41.7% |
| Profit (loss) for the period before taxes | 9903 | €17,839 | €908 | -€16,932 | -94.9% |
| Transfer from deferred taxes | 780 | €2,880 | €2,368 | -€512 | -17.8% |
| Income taxes | 67/77 | €7,406 | €3,175 | -€4,231 | -57.1% |
| Profit (loss) for the period | 9904 | €13,313 | €100 | -€13,213 | -99.2% |
| Transfer from tax-exempt reserves | 789 | €8,640 | €7,104 | -€1,535 | -17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,953 | €7,205 | -€14,748 | -67.2% |
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 18 October 2026 via checked.be.