Pirot-Matthys: 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.
Pirot-Matthys
Largest movements
- Tangible fixed assets -€24,666
down €24,666 (-9.1%), from €271,255 to €246,589
of which Furniture and vehicles: -€18,702
- Cash +€21,260
up €21,260 (+57.7%), from €36,830 to €58,090
mainly Depreciation (+€49,027) and Trade debts (+€15,303)
- Intangible fixed assets -€11,500
down €11,500 (-20.0%), from €57,500 to €46,000
- Receivables within one year -€9,970
down €9,970 (-43.8%), from €22,762 to €12,792
of which Trade receivables: -€22,630
- Stocks and contracts -€6,833
down €6,833 (-26.6%), from €25,726 to €18,893
- Profit (loss) carried forward -€34,231
down €34,231, from €14 to -€34,217
- Trade debts +€15,303
up €15,303 (+130%), from €11,767 to €27,069
- Current portion of long-term debt -€11,105
down €11,105 (-24.9%), from €44,520 to €33,415
- Debts after one year -€5,179
down €5,179 (-2.3%), from €229,016 to €223,836
- Gross operating margin -€73,190
down €73,190 (-32.5%), from €225,367 to €152,177
- Staff costs +€18,819
up €18,819 (+18.4%), from €102,304 to €121,123
- Taxes -€14,728
down €14,728 (-99.8%), from €14,751 to €22
- Depreciation -€9,229
down €9,229 (-15.8%), from €58,256 to €49,027
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 | €450,894 | €419,185 | -€31,709 | -7.0% |
| Fixed assets | 21/28 | €364,576 | €328,410 | -€36,166 | -9.9% |
| Intangible fixed assets | 21 | €57,500 | €46,000 | -€11,500 | -20.0% |
| Tangible fixed assets | 22/27 | €271,255 | €246,589 | -€24,666 | -9.1% |
| Land and buildings | 22 | €7,565 | €6,730 | -€835 | -11.0% |
| Plant, machinery and equipment | 23 | €244,987 | €227,259 | -€17,728 | -7.2% |
| Furniture and vehicles | 24 | €18,702 | €0 | -€18,702 | -100% |
| Assets under construction and advance payments | 27 | - | €12,600 | +€12,600 | |
| Financial fixed assets | 28 | €35,821 | €35,821 | = | 0.0% |
| Current assets | 29/58 | €86,318 | €90,775 | +€4,457 | +5.2% |
| Stocks and contracts in progress | 3 | €25,726 | €18,893 | -€6,833 | -26.6% |
| Stocks | 30/36 | €25,726 | €18,893 | -€6,833 | -26.6% |
| Amounts receivable within one year | 40/41 | €22,762 | €12,792 | -€9,970 | -43.8% |
| Trade receivables | 40 | €22,762 | €132 | -€22,630 | -99.4% |
| Other amounts receivable | 41 | - | €12,660 | +€12,660 | |
| Cash at bank and in hand | 54/58 | €36,830 | €58,090 | +€21,260 | +57.7% |
| Deferred charges and accrued income | 490/1 | €1,000 | €1,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €450,894 | €419,185 | -€31,709 | -7.0% |
| Equity | 10/15 | €133,339 | €99,108 | -€34,231 | -25.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €113,325 | €113,325 | = | 0.0% |
| Distributable reserves | 133 | €113,325 | €113,325 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14 | -€34,217 | -€34,231 | |
| Amounts payable | 17/49 | €317,555 | €320,078 | +€2,522 | +0.8% |
| Amounts payable after more than one year | 17 | €229,016 | €223,836 | -€5,179 | -2.3% |
| Financial debts | 170/4 | €229,016 | €223,836 | -€5,179 | -2.3% |
| Amounts payable within one year | 42/48 | €88,540 | €96,241 | +€7,701 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €44,520 | €33,415 | -€11,105 | -24.9% |
| Financial debts | 43 | - | €4,072 | +€4,072 | |
| Other loans | 439 | - | €4,072 | +€4,072 | |
| Trade debts | 44 | €11,767 | €27,069 | +€15,303 | +130% |
| Suppliers | 440/4 | €11,767 | €27,069 | +€15,303 | +130% |
| Taxes, remuneration and social security | 45 | €24,767 | €23,810 | -€957 | -3.9% |
| Taxes | 450/3 | €7,450 | €0 | -€7,450 | -100% |
| Remuneration and social security | 454/9 | €17,317 | €23,810 | +€6,493 | +37.5% |
| Other amounts payable | 47/48 | €7,486 | €7,875 | +€389 | +5.2% |
| Remuneration, social security and pensions | 62 | €102,304 | €121,123 | +€18,819 | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,256 | €49,027 | -€9,229 | -15.8% |
| Other operating charges | 640/8 | €1,189 | €768 | -€421 | -35.4% |
| Gross operating margin | 9900 | €225,367 | €152,177 | -€73,190 | -32.5% |
| Operating profit (loss) | 9901 | €63,618 | -€18,742 | -€82,359 | |
| Financial income | 75/76B | €44 | €131 | +€87 | +200% |
| Recurring financial income | 75 | €44 | €131 | +€87 | +200% |
| Financial charges | 65/66B | €14,976 | €15,598 | +€622 | +4.2% |
| Recurring financial charges | 65 | €14,976 | €15,598 | +€622 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €48,686 | -€34,209 | -€82,894 | |
| Income taxes | 67/77 | €14,751 | €22 | -€14,728 | -99.8% |
| Profit (loss) for the period | 9904 | €33,935 | -€34,231 | -€68,166 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,935 | -€34,231 | -€68,166 |
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 26 October 2026 via checked.be.