PIRON FRERES: what changed
PIRON FRERES
Largest movements
- Tangible fixed assets +€24,530
up €24,530 (+9.3%), from €262,559 to €287,089
of which Furniture and vehicles: +€71,848
- Stocks and contracts -€15,878
down €15,878 (-31.4%), from €50,550 to €34,672
- Receivables within one year -€15,127
down €15,127 (-12.2%), from €123,818 to €108,691
of which Trade receivables: -€7,956
- Cash +€9,732
up €9,732 (+20.7%), from €47,012 to €56,744
mainly Depreciation (+€65,812) and Debts after one year (+€50,880)
- Debts after one year +€50,880
up €50,880 (+48.3%), from €105,311 to €156,191
- Profit (loss) carried forward -€49,712
down €49,712 (-82.2%), from €60,477 to €10,765
- Trade debts -€26,871
down €26,871 (-31.5%), from €85,239 to €58,368
- Current portion of long-term debt +€23,707
up €23,707 (+34.4%), from €68,845 to €92,552
- Gross operating margin -€42,975
down €42,975 (-46.4%), from €92,718 to €49,743
- Financial charges +€24,893
up €24,893 (+388%), from €6,421 to €31,313
of which Non-recurring financial charges: +€24,658
- Depreciation -€8,609
down €8,609 (-11.6%), from €74,421 to €65,812
- Taxes -€3,542
down €3,542 (-95.2%), from €3,719 to €177
- Financial income +€2,288
new in 2025: €2,288
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €487,586 | €489,048 | +€1,462 | +0.3% |
| Fixed assets | 21/28 | €262,559 | €287,089 | +€24,530 | +9.3% |
| Tangible fixed assets | 22/27 | €262,559 | €287,089 | +€24,530 | +9.3% |
| Land and buildings | 22 | €107,049 | €95,000 | -€12,049 | -11.3% |
| Plant, machinery and equipment | 23 | €39,473 | €23,204 | -€16,269 | -41.2% |
| Furniture and vehicles | 24 | €74,653 | €146,502 | +€71,848 | +96.2% |
| Leasing and similar rights | 25 | €41,384 | €22,384 | -€19,000 | -45.9% |
| Current assets | 29/58 | €225,027 | €201,959 | -€23,068 | -10.3% |
| Stocks and contracts in progress | 3 | €50,550 | €34,672 | -€15,878 | -31.4% |
| Stocks | 30/36 | €50,550 | €34,672 | -€15,878 | -31.4% |
| Amounts receivable within one year | 40/41 | €123,818 | €108,691 | -€15,127 | -12.2% |
| Trade receivables | 40 | €116,434 | €108,478 | -€7,956 | -6.8% |
| Other amounts receivable | 41 | €7,384 | €213 | -€7,171 | -97.1% |
| Cash at bank and in hand | 54/58 | €47,012 | €56,744 | +€9,732 | +20.7% |
| Deferred charges and accrued income | 490/1 | €3,647 | €1,852 | -€1,795 | -49.2% |
| Total equity and liabilities | 10/49 | €487,586 | €489,048 | +€1,462 | +0.3% |
| Equity | 10/15 | €217,633 | €167,921 | -€49,712 | -22.8% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Revaluation surpluses | 12 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €16,704 | €16,704 | = | 0.0% |
| Distributable reserves | 133 | €16,704 | €16,704 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,477 | €10,765 | -€49,712 | -82.2% |
| Amounts payable | 17/49 | €269,953 | €321,127 | +€51,174 | +19.0% |
| Amounts payable after more than one year | 17 | €105,311 | €156,191 | +€50,880 | +48.3% |
| Financial debts | 170/4 | €105,311 | €156,191 | +€50,880 | +48.3% |
| Amounts payable within one year | 42/48 | €164,642 | €164,936 | +€294 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €68,845 | €92,552 | +€23,707 | +34.4% |
| Trade debts | 44 | €85,239 | €58,368 | -€26,871 | -31.5% |
| Suppliers | 440/4 | €85,239 | €58,368 | -€26,871 | -31.5% |
| Taxes, remuneration and social security | 45 | €9,562 | €11,556 | +€1,993 | +20.8% |
| Taxes | 450/3 | €4,922 | €6,880 | +€1,958 | +39.8% |
| Remuneration and social security | 454/9 | €4,640 | €4,675 | +€35 | +0.8% |
| Other amounts payable | 47/48 | €995 | €2,460 | +€1,465 | +147% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,421 | €65,812 | -€8,609 | -11.6% |
| Other operating charges | 640/8 | €3,503 | €4,440 | +€937 | +26.8% |
| Gross operating margin | 9900 | €92,718 | €49,743 | -€42,975 | -46.4% |
| Operating profit (loss) | 9901 | €14,794 | -€20,510 | -€35,304 | |
| Financial income | 75/76B | - | €2,288 | +€2,288 | |
| Recurring financial income | 75 | - | €2,288 | +€2,288 | |
| Financial charges | 65/66B | €6,421 | €31,313 | +€24,893 | +388% |
| Recurring financial charges | 65 | €6,421 | €6,656 | +€235 | +3.7% |
| Non-recurring financial charges | 66B | - | €24,658 | +€24,658 | |
| Profit (loss) for the period before taxes | 9903 | €8,373 | -€49,535 | -€57,908 | |
| Income taxes | 67/77 | €3,719 | €177 | -€3,542 | -95.2% |
| Profit (loss) for the period | 9904 | €4,654 | -€49,712 | -€54,366 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,654 | -€49,712 | -€54,366 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.