PIRSON Michaël: 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.
PIRSON Michaël
Largest movements
- Tangible fixed assets +€21,454
up €21,454 (+62.7%), from €34,197 to €55,651
of which Leasing and similar rights: +€42,868
- Receivables within one year +€17,941
up €17,941 (+3,431%), from €523 to €18,464
of which Trade receivables: +€15,346
- Cash +€4,693
up €4,693 (+39.5%), from €11,868 to €16,561
mainly Debts after one year (+€28,021) and Depreciation (+€10,767)
- Stocks and contracts +€2,550
up €2,550 (+58.0%), from €4,394 to €6,944
of which Contracts in progress: +€2,740
- Debts after one year +€28,021
up €28,021 (+265%), from €10,570 to €38,591
- Current portion of long-term debt +€9,113
up €9,113 (+154%), from €5,917 to €15,029
- Trade debts +€6,562
up €6,562 (+179%), from €3,661 to €10,223
- Other debts -€6,557
down €6,557 (-29.8%), from €22,021 to €15,464
- Reserves +€6,280
up €6,280 (+194%), from €3,233 to €9,513
- Gross operating margin +€10,491
up €10,491 (+69.9%), from €15,017 to €25,508
- Other operating charges +€2,140
up €2,140 (+878%), from €244 to €2,384
- Financial charges +€1,686
up €1,686 (+221%), from €763 to €2,450
- Depreciation +€1,412
up €1,412 (+15.1%), from €9,356 to €10,767
- Taxes +€1,350
up €1,350 (+94.8%), from €1,424 to €2,774
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 | €51,484 | €97,709 | +€46,225 | +89.8% |
| Fixed assets | 21/28 | €34,197 | €55,651 | +€21,454 | +62.7% |
| Tangible fixed assets | 22/27 | €34,197 | €55,651 | +€21,454 | +62.7% |
| Plant, machinery and equipment | 23 | €4,597 | €3,143 | -€1,454 | -31.6% |
| Furniture and vehicles | 24 | €26,730 | €7,567 | -€19,163 | -71.7% |
| Leasing and similar rights | 25 | - | €42,868 | +€42,868 | |
| Other tangible fixed assets | 26 | €2,871 | €2,074 | -€797 | -27.8% |
| Current assets | 29/58 | €17,287 | €42,057 | +€24,771 | +143% |
| Stocks and contracts in progress | 3 | €4,394 | €6,944 | +€2,550 | +58.0% |
| Stocks | 30/36 | €4,394 | €4,204 | -€190 | -4.3% |
| Contracts in progress | 37 | - | €2,740 | +€2,740 | |
| Amounts receivable within one year | 40/41 | €523 | €18,464 | +€17,941 | +3,431% |
| Trade receivables | 40 | - | €15,346 | +€15,346 | |
| Other amounts receivable | 41 | €523 | €3,118 | +€2,595 | +496% |
| Cash at bank and in hand | 54/58 | €11,868 | €16,561 | +€4,693 | +39.5% |
| Deferred charges and accrued income | 490/1 | €502 | €88 | -€413 | -82.4% |
| Total equity and liabilities | 10/49 | €51,484 | €97,709 | +€46,225 | +89.8% |
| Equity | 10/15 | €6,233 | €12,513 | +€6,280 | +101% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €3,233 | €9,513 | +€6,280 | +194% |
| Distributable reserves | 133 | €3,233 | €9,513 | +€6,280 | +194% |
| Amounts payable | 17/49 | €45,251 | €85,196 | +€39,945 | +88.3% |
| Amounts payable after more than one year | 17 | €10,570 | €38,591 | +€28,021 | +265% |
| Financial debts | 170/4 | €10,570 | €38,591 | +€28,021 | +265% |
| Amounts payable within one year | 42/48 | €34,681 | €46,605 | +€11,924 | +34.4% |
| Current portion of amounts payable after more than one year | 42 | €5,917 | €15,029 | +€9,113 | +154% |
| Trade debts | 44 | €3,661 | €10,223 | +€6,562 | +179% |
| Suppliers | 440/4 | €3,661 | €10,223 | +€6,562 | +179% |
| Taxes, remuneration and social security | 45 | €3,082 | €5,889 | +€2,806 | +91.0% |
| Taxes | 450/3 | €3,082 | €5,889 | +€2,806 | +91.0% |
| Other amounts payable | 47/48 | €22,021 | €15,464 | -€6,557 | -29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,356 | €10,767 | +€1,412 | +15.1% |
| Other operating charges | 640/8 | €244 | €2,384 | +€2,140 | +878% |
| Gross operating margin | 9900 | €15,017 | €25,508 | +€10,491 | +69.9% |
| Operating profit (loss) | 9901 | €5,417 | €12,357 | +€6,939 | +128% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €763 | €2,450 | +€1,686 | +221% |
| Recurring financial charges | 65 | €763 | €2,450 | +€1,686 | +221% |
| Profit (loss) for the period before taxes | 9903 | €4,657 | €9,907 | +€5,250 | +113% |
| Income taxes | 67/77 | €1,424 | €2,774 | +€1,350 | +94.8% |
| Profit (loss) for the period | 9904 | €3,233 | €7,133 | +€3,900 | +121% |
| Profit (loss) for the period to be appropriated | 9905 | €3,233 | €7,133 | +€3,900 | +121% |
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.