PIRON Construction: 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.
What changed
PIRON Construction
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€941,461
2024 · €740,468+€200,993
Equity
€8.8m
2024 · €8.2m+€572,184
Cash
€2.0m
2024 · €2.8m-€831,878
Balance sheet total
€25.0m
2024 · €23.1m+€1.9m
Largest movements
Assets
- Stocks and contracts +€2.7m
up €2.7m (+20.1%), from €13.5m to €16.3m
of which Stocks: +€3.2m
- Cash -€831,878
down €831,878 (-29.7%), from €2.8m to €2.0m
mainly Stocks and contracts (-€2.7m) and Investment in fixed assets (net) (-€842,567)
- Receivables within one year -€309,689
down €309,689 (-12.2%), from €2.5m to €2.2m
of which Other amounts receivable: -€174,408
- Tangible fixed assets +€274,761
up €274,761 (+6.7%), from €4.1m to €4.4m
of which Assets under construction and advance payments: +€498,218
Equity and liabilities
- Short-term financial debts +€2.3m
up €2.3m (+43.1%), from €5.3m to €7.5m
- Advances received -€426,201
down €426,201 (-19.3%), from €2.2m to €1.8m
- Profit (loss) carried forward +€325,361
up €325,361 (+4.2%), from €7.7m to €8.1m
- Reserves +€252,600
up €252,600 (+185%), from €136,565 to €389,165
of which Tax-exempt reserves: +€252,600
Income statement
- Turnover -€4.1m
down €4.1m (-14.6%), from €27.9m to €23.8m
- Goods and materials -€1.6m
down €1.6m (-8.5%), from €18.3m to €16.7m
of which Purchases: -€2.7m
- Services and other goods -€389,319
down €389,319 (-12.8%), from €3.0m to €2.6m
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
€740,468
Turnover
-€4.1m
Other operating income
-€272,213
Goods and materials
+€1.6m
Services and other goods
+€389,319
Staff costs
+€244,978
Depreciation
-€32,505
Provisions
+€5,435
Other operating charges
+€22,706
Other operating items
+€2.4m
Financial income
-€62,034
Financial charges
+€20,787
Taxes
-€20,165
Result 2025
€941,461
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.6m
Investment
-€842,567
Financing
+€1.6m
Cash 2024
€2.8m
From operations (derived)
-€1.6m
Net result for the year
+€941,461
Depreciation
+€567,458
Stocks and contracts
-€2.7m
Receivables within one year
+€309,689
Deferred charges and accrued income
-€997
Provisions
+€45,164
Trade debts
-€195,069
Tax, wage and social debts
+€154,753
Advances received
-€426,201
Other debts
-€247,479
Accrued charges and deferred income
-€52,174
Investment (derived)
-€842,567
Investment in fixed assets (net)
-€842,567
Financing
+€1.6m
Debts after one year
-€214,921
Current portion of long-term debt
-€38,171
Short-term financial debts
+€2.3m
Contributions, distributions and other
-€369,277
Cash 2025
€2.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,135,599 | €24,995,871 | +€1.9m | +8.0% |
| Fixed assets | 21/28 | €4,252,694 | €4,527,803 | +€275,109 | +6.5% |
| Tangible fixed assets | 22/27 | €4,094,111 | €4,368,872 | +€274,761 | +6.7% |
| Land and buildings | 22 | €3,039,748 | €2,883,680 | -€156,068 | -5.1% |
| Plant, machinery and equipment | 23 | €16,010 | €19,073 | +€3,063 | +19.1% |
| Furniture and vehicles | 24 | €83,981 | €59,564 | -€24,417 | -29.1% |
| Leasing and similar rights | 25 | €872,760 | €838,025 | -€34,735 | -4.0% |
| Other tangible fixed assets | 26 | €81,611 | €70,311 | -€11,300 | -13.8% |
| Assets under construction and advance payments | 27 | - | €498,218 | +€498,218 | |
| Financial fixed assets | 28 | €158,583 | €158,931 | +€348 | +0.2% |
| Other financial fixed assets | 284/8 | €158,583 | €158,931 | +€348 | +0.2% |
| Amounts receivable and cash guarantees | 285/8 | €158,583 | €158,931 | +€348 | +0.2% |
| Current assets | 29/58 | €18,882,906 | €20,468,068 | +€1.6m | +8.4% |
| Stocks and contracts in progress | 3 | €13,543,417 | €16,269,149 | +€2.7m | +20.1% |
| Stocks | 30/36 | €12,320,301 | €15,506,739 | +€3.2m | +25.9% |
| Work in progress | 32 | €8,100,649 | €11,459,546 | +€3.4m | +41.5% |
| Goods purchased for resale | 34 | €298,370 | €305,587 | +€7,217 | +2.4% |
| Property held for sale | 35 | €3,921,282 | €3,741,606 | -€179,676 | -4.6% |
| Contracts in progress | 37 | €1,223,116 | €762,410 | -€460,706 | -37.7% |
| Amounts receivable within one year | 40/41 | €2,535,090 | €2,225,401 | -€309,689 | -12.2% |
| Trade receivables | 40 | €2,179,948 | €2,044,667 | -€135,281 | -6.2% |
| Other amounts receivable | 41 | €355,142 | €180,734 | -€174,408 | -49.1% |
| Cash at bank and in hand | 54/58 | €2,797,077 | €1,965,200 | -€831,878 | -29.7% |
| Deferred charges and accrued income | 490/1 | €7,321 | €8,319 | +€997 | +13.6% |
| Total equity and liabilities | 10/49 | €23,135,599 | €24,995,871 | +€1.9m | +8.0% |
| Equity | 10/15 | €8,214,073 | €8,786,257 | +€572,184 | +7.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €136,565 | €389,165 | +€252,600 | +185% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €111,565 | €364,165 | +€252,600 | +226% |
| Profit (loss) carried forward | 14 | €7,732,445 | €8,057,805 | +€325,361 | +4.2% |
| Investment grants | 15 | €95,064 | €89,287 | -€5,777 | -6.1% |
| Provisions and deferred taxes | 16 | €1,785,312 | €1,830,476 | +€45,164 | +2.5% |
| Provisions for liabilities and charges | 160/5 | €1,782,531 | €1,827,964 | +€45,433 | +2.5% |
| Other liabilities and charges | 164/5 | €1,782,531 | €1,827,964 | +€45,433 | +2.5% |
| Deferred taxes | 168 | €2,781 | €2,512 | -€269 | -9.7% |
| Amounts payable | 17/49 | €13,136,214 | €14,379,138 | +€1.2m | +9.5% |
| Amounts payable after more than one year | 17 | €1,531,319 | €1,316,398 | -€214,921 | -14.0% |
| Financial debts | 170/4 | €1,531,319 | €1,316,398 | -€214,921 | -14.0% |
| Leasing and similar obligations | 172 | €367,426 | €303,040 | -€64,387 | -17.5% |
| Credit institutions | 173 | €1,163,893 | €1,013,359 | -€150,534 | -12.9% |
| Amounts payable within one year | 42/48 | €11,539,644 | €13,049,662 | +€1.5m | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €497,323 | €459,152 | -€38,171 | -7.7% |
| Financial debts | 43 | €5,251,058 | €7,513,242 | +€2.3m | +43.1% |
| Credit institutions | 430/8 | €5,251,058 | €7,513,242 | +€2.3m | +43.1% |
| Trade debts | 44 | €1,840,831 | €1,645,762 | -€195,069 | -10.6% |
| Suppliers | 440/4 | €1,840,831 | €1,645,762 | -€195,069 | -10.6% |
| Advances received on contracts in progress | 46 | €2,208,583 | €1,782,382 | -€426,201 | -19.3% |
| Taxes, remuneration and social security | 45 | €440,939 | €595,692 | +€154,753 | +35.1% |
| Taxes | 450/3 | €237,894 | €310,533 | +€72,639 | +30.5% |
| Remuneration and social security | 454/9 | €203,045 | €285,159 | +€82,114 | +40.4% |
| Other amounts payable | 47/48 | €1,300,911 | €1,053,432 | -€247,479 | -19.0% |
| Accrued charges and deferred income | 492/3 | €65,251 | €13,077 | -€52,174 | -80.0% |
| Operating income | 70/76A | €30,034,511 | €28,112,553 | -€1.9m | -6.4% |
| Turnover | 70 | €27,872,184 | €23,804,746 | -€4.1m | -14.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,422,417 | €3,353,007 | +€1.9m | +136% |
| Own construction capitalised | 72 | - | €498,218 | +€498,218 | |
| Other operating income | 74 | €665,691 | €393,478 | -€272,213 | -40.9% |
| Non-recurring operating income | 76A | €74,218 | €63,102 | -€11,116 | -15.0% |
| Operating charges | 60/66A | €28,827,442 | €26,643,078 | -€2.2m | -7.6% |
| Goods for resale, raw materials and consumables | 60 | €18,289,730 | €16,733,260 | -€1.6m | -8.5% |
| Purchases | 600/8 | €19,273,498 | €16,560,801 | -€2.7m | -14.1% |
| Change in stocks: decrease (increase) | 609 | -€983,769 | €172,458 | +€1.2m | |
| Services and other goods | 61 | €3,035,256 | €2,645,937 | -€389,319 | -12.8% |
| Remuneration, social security and pensions | 62 | €6,820,746 | €6,575,768 | -€244,978 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €534,953 | €567,458 | +€32,505 | +6.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €50,868 | €45,433 | -€5,435 | -10.7% |
| Other operating charges | 640/8 | €95,890 | €73,184 | -€22,706 | -23.7% |
| Non-recurring operating charges | 66A | €0 | €2,038 | +€2,038 | |
| Operating profit (loss) | 9901 | €1,207,069 | €1,469,475 | +€262,405 | +21.7% |
| Financial income | 75/76B | €301,007 | €238,973 | -€62,034 | -20.6% |
| Recurring financial income | 75 | €301,007 | €238,973 | -€62,034 | -20.6% |
| Income from current assets | 751 | €5,211 | €1,480 | -€3,731 | -71.6% |
| Other financial income | 752/9 | €295,796 | €237,493 | -€58,303 | -19.7% |
| Financial charges | 65/66B | €455,887 | €435,100 | -€20,787 | -4.6% |
| Recurring financial charges | 65 | €455,887 | €435,100 | -€20,787 | -4.6% |
| Debt charges | 650 | €360,947 | €297,292 | -€63,655 | -17.6% |
| Other financial charges | 652/9 | €94,940 | €137,808 | +€42,868 | +45.2% |
| Profit (loss) for the period before taxes | 9903 | €1,052,189 | €1,273,347 | +€221,158 | +21.0% |
| Transfer from deferred taxes | 780 | €269 | €269 | = | 0.0% |
| Income taxes | 67/77 | €311,991 | €332,156 | +€20,165 | +6.5% |
| Taxes | 670/3 | €311,991 | €332,156 | +€20,165 | +6.5% |
| Profit (loss) for the period | 9904 | €740,468 | €941,461 | +€200,993 | +27.1% |
| Transfer to tax-exempt reserves | 689 | €111,565 | €252,600 | +€141,035 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €628,903 | €688,861 | +€59,958 | +9.5% |
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 16 October 2026 via checked.be.