PIRON: what changed
Two fiscal 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.
What changed
PIRON
NACE 52.100, Warehousing and storage
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€563,273
2024 · €780,659-€217,387
Equity
€8.9m
2024 · €8.4m+€541,219
Cash
€249,604
2024 · €219,538+€30,065
Balance sheet total
€17.8m
2024 · €8.8m+€8.9m
Largest movements
Assets
- Tangible fixed assets +€8.4m
up €8.4m (+156.6%), from €5.4m to €13.8m
of which Land and buildings: +€8.4m
- Financial fixed assets +€417,500
up €417,500 (+18.3%), from €2.3m to €2.7m
Equity and liabilities
- Debts after one year +€6.9m
new in 2025: €6.9m
- Current portion of long-term debt +€1.1m
up €1.1m (+12647.1%), from €8,560 to €1.1m
- Reserves +€565,454
up €565,454 (+6.8%), from €8.3m to €8.9m
of which Distributable reserves: +€500,000
- Other debts +€500,328
up €500,328 (+381.5%), from €131,141 to €631,469
Income statement
- Other operating charges +€195,683
up €195,683 (+97.6%), from €200,494 to €396,177
- Staff costs -€135,026
down €135,026 (-59.2%), from €227,915 to €92,889
- Financial charges +€108,545
up €108,545 (+845.0%), from €12,846 to €121,392
- Depreciation +€105,551
up €105,551 (+26.0%), from €406,631 to €512,182
- Taxes -€35,860
down €35,860 (-17.5%), from €205,386 to €169,526
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.
Result 2024
€780,659
Gross operating margin
+€20,508
Staff costs
+€135,026
Depreciation
-€105,551
Write-downs
+€500
Other operating charges
-€195,683
Financial income
+€499
Financial charges
-€108,545
Taxes
+€35,860
Result 2025
€563,273
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.
From operations
+€1.4m
Investment
-€9.4m
Financing
+€8.0m
Cash 2024
€219,538
From operations (derived)
+€1.4m
Net result for the year
+€563,273
Depreciation
+€512,182
Receivables within one year
-€41,306
Deferred charges and accrued income
-€637
Trade debts
-€150,529
Tax, wage and social debts
+€58,198
Other debts
+€500,328
Investment (derived)
-€9.4m
Investment in fixed assets (net)
-€9.4m
Financing
+€8.0m
Debts after one year
+€6.9m
Current portion of long-term debt
+€1.1m
Contributions, distributions and other
-€22,053
Cash 2025
€249,604
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,842,537 | €17,779,852 | +€8.9m | +101.1% |
| Fixed assets | 21/28 | €7,672,365 | €16,537,671 | +€8.9m | +115.5% |
| Tangible fixed assets | 22/27 | €5,396,067 | €13,843,873 | +€8.4m | +156.6% |
| Land and buildings | 22 | €5,295,060 | €13,739,959 | +€8.4m | +159.5% |
| Plant, machinery and equipment | 23 | €32,077 | €53,257 | +€21,180 | +66.0% |
| Furniture and vehicles | 24 | €24,941 | €15,628 | -€9,313 | -37.3% |
| Other tangible fixed assets | 26 | €43,989 | €35,029 | -€8,959 | -20.4% |
| Financial fixed assets | 28 | €2,276,298 | €2,693,798 | +€417,500 | +18.3% |
| Current assets | 29/58 | €1,170,172 | €1,242,181 | +€72,009 | +6.2% |
| Stocks and contracts in progress | 3 | €808,000 | €808,000 | = | 0.0% |
| Stocks | 30/36 | €808,000 | €808,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €134,254 | €175,560 | +€41,306 | +30.8% |
| Trade receivables | 40 | €95,272 | €143,089 | +€47,817 | +50.2% |
| Other amounts receivable | 41 | €38,982 | €32,471 | -€6,511 | -16.7% |
| Cash at bank and in hand | 54/58 | €219,538 | €249,604 | +€30,065 | +13.7% |
| Deferred charges and accrued income | 490/1 | €8,380 | €9,017 | +€637 | +7.6% |
| Total equity and liabilities | 10/49 | €8,842,537 | €17,779,852 | +€8.9m | +101.1% |
| Equity | 10/15 | €8,393,813 | €8,935,032 | +€541,219 | +6.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €8,286,747 | €8,852,201 | +€565,454 | +6.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €580,597 | €646,051 | +€65,454 | +11.3% |
| Distributable reserves | 133 | €7,700,000 | €8,200,000 | +€500,000 | +6.5% |
| Profit (loss) carried forward | 14 | €8,210 | €6,028 | -€2,181 | -26.6% |
| Investment grants | 15 | €37,357 | €15,303 | -€22,053 | -59.0% |
| Amounts payable | 17/49 | €448,723 | €8,844,820 | +€8.4m | +1871.1% |
| Amounts payable after more than one year | 17 | - | €6,905,567 | +€6.9m | |
| Financial debts | 170/4 | - | €6,905,567 | +€6.9m | |
| Amounts payable within one year | 42/48 | €448,723 | €1,939,252 | +€1.5m | +332.2% |
| Current portion of amounts payable after more than one year | 42 | €8,560 | €1,091,091 | +€1.1m | +12647.1% |
| Trade debts | 44 | €258,505 | €107,976 | -€150,529 | -58.2% |
| Suppliers | 440/4 | €258,505 | €107,976 | -€150,529 | -58.2% |
| Taxes, remuneration and social security | 45 | €50,518 | €108,716 | +€58,198 | +115.2% |
| Taxes | 450/3 | €11,012 | €92,194 | +€81,182 | +737.2% |
| Remuneration and social security | 454/9 | €39,507 | €16,523 | -€22,984 | -58.2% |
| Other amounts payable | 47/48 | €131,141 | €631,469 | +€500,328 | +381.5% |
| Remuneration, social security and pensions | 62 | €227,915 | €92,889 | -€135,026 | -59.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €406,631 | €512,182 | +€105,551 | +26.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €500 | - | -€500 | |
| Other operating charges | 640/8 | €200,494 | €396,177 | +€195,683 | +97.6% |
| Gross operating margin | 9900 | €1,812,379 | €1,832,887 | +€20,508 | +1.1% |
| Operating profit (loss) | 9901 | €976,838 | €831,639 | -€145,200 | -14.9% |
| Financial income | 75/76B | €22,053 | €22,552 | +€499 | +2.3% |
| Recurring financial income | 75 | €22,053 | €22,552 | +€499 | +2.3% |
| Financial charges | 65/66B | €12,846 | €121,392 | +€108,545 | +845.0% |
| Recurring financial charges | 65 | €12,846 | €121,392 | +€108,545 | +845.0% |
| Profit (loss) for the period before taxes | 9903 | €986,045 | €732,799 | -€253,246 | -25.7% |
| Income taxes | 67/77 | €205,386 | €169,526 | -€35,860 | -17.5% |
| Profit (loss) for the period | 9904 | €780,659 | €563,273 | -€217,387 | -27.8% |
| Transfer from tax-exempt reserves | 789 | €15,744 | €28,021 | +€12,277 | +78.0% |
| Transfer to tax-exempt reserves | 689 | €469,581 | €93,475 | -€376,106 | -80.1% |
| Profit (loss) for the period to be appropriated | 9905 | €326,823 | €497,819 | +€170,996 | +52.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.