PIROUETTE: 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.
PIROUETTE
Largest movements
- Receivables within one year -€99,910
down €99,910 (-84.9%), from €117,666 to €17,756
of which Trade receivables: -€99,910
- Stocks and contracts -€17,949
down €17,949 (-34.8%), from €51,640 to €33,691
- Tangible fixed assets -€9,299
down €9,299 (-6.4%), from €145,514 to €136,214
of which Land and buildings: -€7,899
- Cash +€8,956
up €8,956 (+65.7%), from €13,641 to €22,597
mainly Receivables within one year (+€99,910) and Stocks and contracts (+€17,949)
- Trade debts -€44,158
down €44,158 (-73.6%), from €59,978 to €15,820
- Tax, wage and social debts -€30,856
down €30,856 (-51.5%), from €59,948 to €29,092
of which Taxes: -€16,816
- Advances received -€30,199
down €30,199 (-100%), from €30,199 to €0
- Profit (loss) carried forward -€29,890
down €29,890 (-108%), from -€27,648 to -€57,538
- Other debts +€16,177
up €16,177 (+15.2%), from €106,382 to €122,560
- Staff costs -€8,839
down €8,839 (-6.5%), from €135,958 to €127,120
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 | €330,130 | €211,205 | -€118,925 | -36.0% |
| Fixed assets | 21/28 | €145,514 | €136,214 | -€9,299 | -6.4% |
| Tangible fixed assets | 22/27 | €145,514 | €136,214 | -€9,299 | -6.4% |
| Land and buildings | 22 | €143,157 | €135,258 | -€7,899 | -5.5% |
| Furniture and vehicles | 24 | €2,356 | €956 | -€1,401 | -59.4% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €184,616 | €74,991 | -€109,626 | -59.4% |
| Stocks and contracts in progress | 3 | €51,640 | €33,691 | -€17,949 | -34.8% |
| Stocks | 30/36 | €51,640 | €33,691 | -€17,949 | -34.8% |
| Amounts receivable within one year | 40/41 | €117,666 | €17,756 | -€99,910 | -84.9% |
| Trade receivables | 40 | €105,402 | €5,492 | -€99,910 | -94.8% |
| Other amounts receivable | 41 | €12,264 | €12,264 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,641 | €22,597 | +€8,956 | +65.7% |
| Deferred charges and accrued income | 490/1 | €1,669 | €947 | -€723 | -43.3% |
| Total equity and liabilities | 10/49 | €330,130 | €211,205 | -€118,925 | -36.0% |
| Equity | 10/15 | €73,623 | €43,733 | -€29,890 | -40.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €82,679 | €82,679 | = | 0.0% |
| Distributable reserves | 133 | €82,679 | €82,679 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,648 | -€57,538 | -€29,890 | -108% |
| Amounts payable | 17/49 | €256,507 | €167,472 | -€89,035 | -34.7% |
| Amounts payable within one year | 42/48 | €256,507 | €167,472 | -€89,035 | -34.7% |
| Trade debts | 44 | €59,978 | €15,820 | -€44,158 | -73.6% |
| Suppliers | 440/4 | €59,978 | €15,820 | -€44,158 | -73.6% |
| Advances received on contracts in progress | 46 | €30,199 | €0 | -€30,199 | -100% |
| Taxes, remuneration and social security | 45 | €59,948 | €29,092 | -€30,856 | -51.5% |
| Taxes | 450/3 | €21,938 | €5,122 | -€16,816 | -76.7% |
| Remuneration and social security | 454/9 | €38,010 | €23,970 | -€14,040 | -36.9% |
| Other amounts payable | 47/48 | €106,382 | €122,560 | +€16,177 | +15.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €135,958 | €127,120 | -€8,839 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,711 | €9,299 | -€412 | -4.2% |
| Other operating charges | 640/8 | €8,996 | €10,015 | +€1,019 | +11.3% |
| Gross operating margin | 9900 | €123,961 | €124,996 | +€1,036 | +0.8% |
| Operating profit (loss) | 9901 | -€30,705 | -€21,438 | +€9,267 | +30.2% |
| Financial income | 75/76B | €464 | €531 | +€67 | +14.5% |
| Recurring financial income | 75 | €464 | €531 | +€67 | +14.5% |
| Financial charges | 65/66B | €9,162 | €8,719 | -€443 | -4.8% |
| Recurring financial charges | 65 | €9,162 | €8,719 | -€443 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | -€39,404 | -€29,626 | +€9,777 | +24.8% |
| Income taxes | 67/77 | €236 | €263 | +€27 | +11.5% |
| Profit (loss) for the period | 9904 | -€39,640 | -€29,890 | +€9,750 | +24.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,640 | -€29,890 | +€9,750 | +24.6% |
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 14 October 2026 via checked.be.