PIRON - TEHEUX: 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.
PIRON - TEHEUX
Largest movements
- Cash +€35,516
up €35,516 (+51.5%), from €68,942 to €104,458
mainly Net result for the year (+€27,976) and Depreciation (+€25,049)
- Intangible fixed assets -€13,968
down €13,968 (-49.9%), from €27,996 to €14,028
- Tangible fixed assets -€8,101
down €8,101 (-16.7%), from €48,493 to €40,392
of which Other tangible fixed assets: -€6,639
- Stocks and contracts -€7,690
down €7,690 (-55.4%), from €13,885 to €6,195
- Current investments -€4,567
down €4,567 (-3.3%), from €139,135 to €134,568
- Debts after one year -€30,125
down €30,125 (-35.8%), from €84,095 to €53,969
of which Financial debts: -€30,125
- Reserves +€25,000
up €25,000 (+42.6%), from €58,628 to €83,628
of which Distributable reserves: +€25,000
- Other debts -€5,049
down €5,049 (-9.5%), from €53,118 to €48,069
- Trade debts +€4,435
up €4,435 (+55.0%), from €8,069 to €12,504
- Gross operating margin -€9,652
down €9,652 (-13.2%), from €73,045 to €63,394
- Financial charges -€1,192
down €1,192 (-24.5%), from €4,867 to €3,675
- Taxes -€984
down €984 (-24.7%), from €3,987 to €3,003
- Other operating charges +€974
up €974 (+32.0%), from €3,040 to €4,014
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 | €328,121 | €329,474 | +€1,354 | +0.4% |
| Fixed assets | 21/28 | €76,526 | €54,432 | -€22,094 | -28.9% |
| Intangible fixed assets | 21 | €27,996 | €14,028 | -€13,968 | -49.9% |
| Tangible fixed assets | 22/27 | €48,493 | €40,392 | -€8,101 | -16.7% |
| Land and buildings | 22 | €738 | €579 | -€159 | -21.5% |
| Furniture and vehicles | 24 | €1,646 | €343 | -€1,303 | -79.2% |
| Other tangible fixed assets | 26 | €46,109 | €39,470 | -€6,639 | -14.4% |
| Financial fixed assets | 28 | €38 | €13 | -€25 | -66.7% |
| Current assets | 29/58 | €251,594 | €275,042 | +€23,448 | +9.3% |
| Stocks and contracts in progress | 3 | €13,885 | €6,195 | -€7,690 | -55.4% |
| Stocks | 30/36 | €13,885 | €6,195 | -€7,690 | -55.4% |
| Amounts receivable within one year | 40/41 | €27,606 | €27,938 | +€331 | +1.2% |
| Trade receivables | 40 | €27,606 | €27,938 | +€331 | +1.2% |
| Current investments | 50/53 | €139,135 | €134,568 | -€4,567 | -3.3% |
| Cash at bank and in hand | 54/58 | €68,942 | €104,458 | +€35,516 | +51.5% |
| Deferred charges and accrued income | 490/1 | €2,026 | €1,883 | -€143 | -7.1% |
| Total equity and liabilities | 10/49 | €328,121 | €329,474 | +€1,354 | +0.4% |
| Equity | 10/15 | €143,811 | €171,787 | +€27,976 | +19.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €58,628 | €83,628 | +€25,000 | +42.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,103 | €9,103 | = | 0.0% |
| Distributable reserves | 133 | €43,325 | €68,325 | +€25,000 | +57.7% |
| Profit (loss) carried forward | 14 | €23,183 | €26,159 | +€2,976 | +12.8% |
| Amounts payable | 17/49 | €184,310 | €157,687 | -€26,623 | -14.4% |
| Amounts payable after more than one year | 17 | €84,095 | €53,969 | -€30,125 | -35.8% |
| Financial debts | 170/4 | €60,423 | €30,297 | -€30,125 | -49.9% |
| Other amounts payable | 178/9 | €23,672 | €23,672 | = | 0.0% |
| Amounts payable within one year | 42/48 | €99,830 | €103,432 | +€3,601 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €30,732 | €32,092 | +€1,360 | +4.4% |
| Trade debts | 44 | €8,069 | €12,504 | +€4,435 | +55.0% |
| Suppliers | 440/4 | €8,069 | €12,504 | +€4,435 | +55.0% |
| Taxes, remuneration and social security | 45 | €7,911 | €10,766 | +€2,855 | +36.1% |
| Taxes | 450/3 | €7,911 | €10,766 | +€2,855 | +36.1% |
| Other amounts payable | 47/48 | €53,118 | €48,069 | -€5,049 | -9.5% |
| Accrued charges and deferred income | 492/3 | €385 | €286 | -€99 | -25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,087 | €25,049 | -€38 | -0.2% |
| Other operating charges | 640/8 | €3,040 | €4,014 | +€974 | +32.0% |
| Non-recurring operating charges | 66A | - | €337 | +€337 | |
| Gross operating margin | 9900 | €73,045 | €63,394 | -€9,652 | -13.2% |
| Operating profit (loss) | 9901 | €44,919 | €33,995 | -€10,924 | -24.3% |
| Financial income | 75/76B | €601 | €659 | +€59 | +9.8% |
| Recurring financial income | 75 | €601 | €659 | +€59 | +9.8% |
| Financial charges | 65/66B | €4,867 | €3,675 | -€1,192 | -24.5% |
| Recurring financial charges | 65 | €4,867 | €3,675 | -€1,192 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | €40,652 | €30,979 | -€9,673 | -23.8% |
| Income taxes | 67/77 | €3,987 | €3,003 | -€984 | -24.7% |
| Profit (loss) for the period | 9904 | €36,666 | €27,976 | -€8,689 | -23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,666 | €27,976 | -€8,689 | -23.7% |
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 20 October 2026 via checked.be.